7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 
      
    		                                         
      cash from operating activities
    		                                         
      net income
    		33,646,000 35,980,000 31,383,000 102,734,000 33,006,000 29,665,000 38,663,000 30,268,000 26,445,000 -18,901,000 -35,110,000 -19,700,000 -4,162,000 -29,970,000 -14,287,000 -1,331,000 -141,000 2,021,000 479,000 -513,000 137,676,000 19,257,000 1,983,000 4,428,000 4,978,000 23,151,000 3,725,000 2,649,000 5,524,000 7,474,000 4,320,000 2,577,000 3,682,000 2,797,000 660,000 -1,289,000 -1,125,000 -2,264,000 -3,603,000 -3,890,000 -4,760,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                         
      depreciation and amortization
    		5,436,000 5,850,000 6,255,000 4,986,000 3,912,000 4,199,000 4,693,000 6,385,000 6,980,000 6,198,000 6,937,000 7,525,000 7,658,000 7,759,000 7,878,000 6,188,000 7,826,000 7,649,000 7,369,000 7,039,000 6,680,000 6,657,000 6,414,000 6,226,000 5,678,000 5,415,000 5,076,000 3,792,000 3,705,000 3,579,000 3,500,000 3,352,000 3,237,000 3,114,000 2,996,000 2,823,000 2,636,000 2,359,000 2,117,000 1,852,000 1,638,000 
      amortization of operating lease right-of-use assets
    		517,000 507,000 501,000 489,000 488,000 530,000 523,000 514,000 509,000 541,000 568,000 689,000 689,000 922,000 887,000 887,000 913,000 737,000 662,000 728,000 902,000 1,018,000 1,053,000 1,114,000 1,088,000                 
      amortization of costs capitalized to obtain revenue contracts
    		2,768,000 2,699,000 2,720,000                                       
      deferred income taxes
    		30,303,000 -7,644,000 -5,541,000      -5,000 5,000 4,000 399,000 158,000 -1,208,000 -342,000 6,644,000 -308,000 -363,000 -5,723,000 6,124,000 36,015,000 -13,499,000 362,000 -4,423,000 -1,389,000 -21,362,000 -4,281,000               
      stock-based compensation, including as amortized
    		20,793,000 18,299,000 16,371,000 16,374,000 16,449,000 15,266,000 13,992,000 12,980,000 15,845,000 11,390,000 14,637,000 13,343,000 11,413,000 10,523,000 7,955,000                           
      other
    		-233,000 -131,000 -917,000 -2,074,000 -2,141,000 -2,181,000 -1,824,000 -2,080,000 -801,000 -558,000 -159,000 261,000 -92,000 -421,000 427,000 160,000 668,000 -422,000 -157,000 -45,000 200,000 8,000 -38,000 -104,000 28,000 81,000 27,000               
      changes in operating assets and liabilities:
    		                                         
      accounts receivable
    		-1,803,000 -5,081,000 -3,116,000 1,489,000 110,000 488,000 -5,470,000 -349,000 -327,000 -2,616,000 -914,000 -1,619,000 345,000 507,000 -3,431,000 -753,000 2,657,000 -2,111,000 -1,896,000 -553,000 2,907,000 -3,520,000 -1,616,000 747,000 -83,000 -644,000 -2,051,000 557,000 703,000 -1,020,000 -1,148,000 32,000 813,000 -418,000 -1,303,000 196,000 337,000 -402,000 -594,000 190,000 286,000 
      prepaid expenses and other assets
    		-4,251,000 -5,966,000 -5,460,000                                       
      accounts payable
    		894,000 -1,694,000 2,546,000 1,850,000 -728,000 -296,000 733,000 -80,000 -496,000 788,000 -1,777,000 945,000 214,000 -2,970,000 2,987,000 -887,000 83,000 431,000 870,000 -1,598,000 502,000 555,000 -362,000 241,000 82,000 88,000 100,000 137,000 -362,000 424,000 415,000 -469,000 688,000 -300,000 -19,000 205,000 -538,000 82,000 -653,000 -606,000 -716,000 
      operating lease liabilities
    		-1,075,000 -1,051,000 -1,051,000 53,000 -1,778,000 -943,000 -475,000 576,000 1,558,000 -3,867,000 -771,000 -776,000 -437,000 -680,000 -631,000 -727,000 310,000 2,357,000 -672,000 571,000 -1,043,000 -876,000 784,000 224,000 -1,127,000                 
      accrued expenses and other liabilities
    		-988,000 10,875,000 -5,226,000 -15,413,000 12,498,000 7,833,000 -16,730,000                                   
      net cash from operating activities
    		86,007,000 52,643,000 38,465,000 36,566,000 57,770,000 50,869,000 42,954,000 31,183,000 36,757,000 -9,230,000 1,573,000 6,081,000 16,003,000 5,525,000 -2,244,000 8,932,000 15,798,000 15,098,000 -4,437,000 3,083,000 17,840,000 24,293,000 3,083,000 15,474,000 11,600,000 11,518,000 295,000 11,667,000 9,547,000 11,712,000 3,342,000 7,815,000 9,690,000 8,059,000 3,807,000 6,777,000 2,346,000 3,113,000 -736,000 -3,070,000 -967,000 
      capex
    		-1,336,000 -275,000 -230,000 -195,000 -363,000 -38,000 -1,420,000 -3,109,000 -3,761,000 -1,377,000 -794,000 -597,000 -1,109,000 -624,000 -722,000 -2,297,000 -2,298,000 -1,732,000 -250,000 -2,487,000 -2,245,000 -6,314,000 -7,992,000 0 -1,690,000 -1,365,000 -1,030,000 -362,000 -1,160,000 -317,000 -263,000 -533,000 -843,000 -445,000 -392,000 -533,000 -459,000 -1,798,000 -1,191,000 -537,000 -547,000 
      free cash flows
    		84,671,000 52,368,000 38,235,000 36,371,000 57,407,000 50,831,000 41,534,000 28,074,000 32,996,000 -10,607,000 779,000 5,484,000 14,894,000 4,901,000 -2,966,000 6,635,000 13,500,000 13,366,000 -4,687,000 596,000 15,595,000 17,979,000 -4,909,000 15,474,000 9,910,000 10,153,000 -735,000 11,305,000 8,387,000 11,395,000 3,079,000 7,282,000 8,847,000 7,614,000 3,415,000 6,244,000 1,887,000 1,315,000 -1,927,000 -3,607,000 -1,514,000 
      cash from investing activities
    		                                         
      purchases of available-for-sale investments
    		-102,541,000 -1,732,000 -62,302,000 -51,854,000 -113,780,000 -94,377,000 -57,162,000 -86,821,000 -35,322,000 -72,312,000 -1,285,000 -8,885,000 -25,494,000 -21,591,000 -23,309,000 -74,174,000 -18,748,000 -49,282,000 -99,011,000 -13,998,000 -16,490,000 -12,740,000 -649,000                   
      proceeds from sales of available-for-sale investments
    		0 99,944,000 102,718,000     0 0 0 1,013,000     0 1,000,000 24,299,000 17,899,000 2,769,000 0 0 13,942,000                   
      proceeds from maturities of available-for-sale investments
    		32,800,000 1,670,000 42,150,000 76,280,000 69,300,000 57,785,000 36,670,000 58,130,000 44,635,000 11,727,000 37,890,000 11,285,000 33,100,000 20,155,000 23,343,000 33,600,000 47,004,000 25,750,000 1,000,000 14,030,000 5,550,000 500,000 7,250,000                   
      purchases of property and equipment
    		-1,336,000 -275,000 -230,000 -195,000 -363,000 -38,000 -1,420,000 -3,109,000 -3,761,000 -1,377,000 -794,000 -597,000 -844,000            -1,690,000 -1,365,000 -1,030,000 -362,000 -1,160,000 -317,000 -263,000 -533,000 -843,000 -445,000 -392,000 -682,000 -399,000 -1,270,000 -1,891,000 -1,460,000 -724,000 
      capitalization of software development costs
    		-936,000 -842,000 -636,000 -1,058,000 -1,583,000 -1,404,000 -1,125,000 -1,431,000 -1,243,000 -986,000 -1,165,000 -4,220,000 -3,275,000 -3,709,000 -3,484,000 -6,104,000 -6,600,000 -5,771,000 -6,140,000                       
      purchases of long-term investments
    		0                                         
      cash paid in business acquisition, net of cash acquired
    		0 0 -906,000                                     0 0 
      net cash from investing activities
    		-72,013,000 23,765,000 80,794,000 -44,264,000 -46,426,000 -38,034,000 -23,037,000 -33,231,000 4,309,000 -62,948,000 36,288,000 -1,383,000 8,611,000 -8,414,000 -5,280,000 -36,693,000 20,294,000 -6,870,000 -87,190,000 -6,031,000 171,254,000 -24,441,000 5,729,000 -19,146,000 -9,951,000 -5,085,000 -55,692,000 20,140,000 -13,467,000 -846,000 -10,471,000 -6,454,000 -2,157,000 -8,742,000 -5,475,000 -3,743,000 -5,721,000 -3,481,000 -120,000 3,771,000 -54,423,000 
      cash from financing activities
    		                                         
      proceeds from stock option exercises
    		2,000 117,000 11,000 11,000 15,000 24,000 3,874,000 410,000 683,000 668,000 834,000 1,895,000 1,976,000 503,000 100,000 1,823,000 145,000 546,000 100,000 420,000 73,000 232,000 97,000 294,000 60,000 109,000 90,000 322,000 55,000 188,000 470,000 155,000 122,000 241,000 145,000 92,000 107,000 73,000 80,000 29,000 10,000 
      tax withholding for net share settlement
    		-12,332,000 -10,020,000 -9,078,000 -12,226,000 -8,581,000 -12,434,000 -14,086,000 -8,790,000 -6,510,000 -7,717,000 -5,539,000 -3,056,000 -1,984,000 -4,524,000 -1,073,000 -659,000 -403,000 -4,908,000 -3,992,000 -1,237,000 -1,269,000 -3,232,000 -6,458,000 -614,000 -790,000 -3,436,000 -1,315,000 -233,000 -400,000 -1,593,000 -901,000 -188,000 -263,000 -138,000 -1,207,000 -26,000      
      proceeds from the issuance of common stock under the employee stock purchase plan
    		                                         
      purchase of common stock
    		0 -49,960,000 -95,763,000                                       
      net cash from financing activities
    		-11,379,000 -59,863,000 -104,830,000 -12,215,000 -8,566,000 -12,410,000 -10,212,000 -8,380,000 -5,827,000 -7,049,000 -4,705,000 -1,161,000 -8,000 -4,021,000 -973,000 1,164,000 -258,000 -4,362,000 -3,892,000 -817,000 -98,381,000 -3,316,000 32,156,000 -633,000 -1,042,000 -3,700,000 -1,897,000 28,527,000 -345,000 -1,405,000 -431,000 -33,000 -141,000 103,000 -1,062,000 62,000 15,000 63,000 61,000 -396,000 -2,776,000 
      net increase in cash, cash equivalents and restricted cash
    		2,615,000 16,545,000 14,429,000 -19,913,000 2,778,000 425,000 9,705,000    33,156,000      35,834,000 3,866,000 -95,519,000  90,713,000 -3,464,000 40,968,000      -4,265,000             
      cash, cash equivalents and restricted cash
    		                                         
      beginning of period
    		0 0 42,754,000 0 0 0 49,759,000 0 0 0 71,019,000 0 0 0 58,283,000 0 0 0 140,699,000   0 16,247,000 0 0 0 74,506,000 -1,000 0 0 16,537,000 0 0 0 10,699,000 0 0 0 12,063,000 0 0 
      end of period
    		2,615,000 16,545,000 57,183,000 -19,913,000 2,778,000 425,000 59,464,000 -10,428,000 35,239,000 -79,227,000 104,175,000 3,537,000 24,606,000 -6,910,000 49,786,000 -26,597,000 35,834,000 3,866,000 45,180,000   -3,464,000 57,215,000 -4,305,000 607,000 2,733,000 17,212,000 60,333,000 -4,265,000 9,461,000 8,977,000 1,328,000 7,392,000 -580,000 7,969,000 3,096,000 -3,360,000 -305,000 11,268,000 305,000 -58,166,000 
      cash, cash equivalents and restricted cash at end of period:
    		                                         
      cash and cash equivalents
    		2,615,000 16,545,000 56,933,000 -19,913,000 2,778,000 425,000 59,214,000                                   
      restricted cash included in prepaid expenses and other current assets
    		0 0 250,000 0 0 0 250,000                                   
      total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows
    		2,615,000 16,545,000 57,183,000 -19,913,000 2,778,000 425,000 59,464,000                                   
      supplemental disclosure of cash flow information
    		                                         
      cash paid for amounts included in the measurement of lease liabilities included in operating cash flows
    		  1,558,000 1,407,000 1,455,000 1,483,000 1,483,000                                   
      impairment
    		           2,230,000 0                             
      gain on lease modification
    		       0 0 -1,915,000 -2,366,000                               
      gain on sale of business
    		           0    0    -22,000                      
      proceeds from sale of business, net of cash divested
    		           0        0                      
      proceeds from equity-method investment
    		                                         
      cash paid for income taxes
    		                                         
      prepaid expenses and other current assets
    		    -4,046,000 -3,692,000 8,849,000  1,666,000 36,000 -2,465,000 -2,239,000 -507,000 -710,000 -1,942,000 1,390,000 -1,387,000 -2,218,000 47,000 -5,035,000 -567,000 2,530,000 -2,822,000 372,000 796,000 -1,859,000 -3,340,000 -859,000 -4,655,000 -1,000,000 441,000 -153,000 -644,000 -614,000 402,000 427,000 -157,000 634,000 -1,281,000 -548,000 -737,000 
      gain on sale of equity-method investment and recovery of note receivable
    		                                         
      proceeds from sale of equity-method investment
    		       0 0 0 629,000                               
      net increase in cash and cash equivalents
    		                               1,328,000    3,096,000 -3,360,000     
      other assets
    		        -312,000 297,000 66,000 -254,000 -321,000 -735,000 -573,000 -78,000 -199,000 -579,000 -403,000 -199,000 -213,000 41,000 -148,000 247,000    556,000 -3,941,000 -296,000 -766,000 -30,000 -3,000 -56,000 5,000 60,000 -71,000 18,000 -110,000 64,000 -37,000 
      accrued employee expenses
    		        10,534,000 -15,760,000 13,041,000         880,000 1,202,000 6,144,000 -5,427,000 4,056,000 -194,000 3,547,000 -2,867,000 4,444,000 -1,185,000 1,802,000 -3,842,000 2,397,000 270,000 2,238,000 -1,662,000 2,367,000 -1,050,000 812,000 94,000 -1,223,000 2,046,000 
      accrued expenses
    		        2,237,000 -237,000 2,407,000 -539,000 809,000 1,460,000 1,722,000 -347,000 1,621,000 757,000 -3,804,000 947,000 1,397,000 3,808,000 726,000 69,000 -1,398,000 -196,000 1,580,000 -116,000 1,964,000 822,000 611,000 -1,442,000 919,000 321,000 473,000 -206,000 603,000 -236,000 987,000 -99,000 674,000 
      taxes payable
    		        -28,112,000                                 
      other liabilities
    		        1,036,000 -9,783,000 7,475,000 753,000 1,903,000 603,000 1,070,000 -67,000    -7,173,000 16,439,000 -422,000 522,000 245,000    184,000 5,657,000 478,000 -252,000 186,000 -434,000 31,000 69,000 -357,000 -312,000 637,000 858,000 705,000 373,000 
      net decrease in cash, cash equivalents and restricted cash
    		             -6,910,000 -8,497,000            -57,294,000    -7,560,000           
      payment of contingent consideration
    		                   0 0 0 -5,977,000                 0 0 
      proceeds from issuance of debt
    		                   0 562,000 753,000 49,437,000 472,000 528,000 572,000 597,000 50,045,000 30,000 31,000 32,000 30,000 29,000 30,000 29,000 30,000 30,000 28,000 29,000 253,000 0 
      principal payments on debt
    		                   0 -97,747,000 -1,069,000 -749,000 -785,000 -840,000 -885,000 -909,000 -45,000 -30,000 -31,000 -32,000 -30,000 -29,000 -30,000 -29,000 -29,000 -28,000 -30,000 -41,000 -241,000 -9,958,000 
      purchase of treasury stock
    		                   0 0 0 -4,194,000                   
      appfolio, inc.
    		                                         
      consolidated statements of cash flows
    		                                         
      cash paid for interest
    		                                         
      right-of-use assets obtained in exchange for operating lease liabilities
    		                                         
      accrued employee expenses—current
    		            2,395,000 1,799,000 -5,016,000 4,929,000 -1,303,000 6,910,000 728,000                       
      noncash investing and financing activities
    		                                         
      purchases of property and equipment included in accounts payable and accrued expenses
    		            -265,000 -624,000 1,108,000 640,000 64,000 134,000 688,000                 149,000 -60,000 -528,000 700,000 923,000 177,000 
      capitalization of software development costs included in accrued expenses and accrued employee expenses
    		            344,000 -192,000 397,000 -649,000 -416,000 544,000 817,000                       
      stock-based compensation capitalized for software development
    		            836,000 677,000 549,000 -1,075,000 774,000 658,000 520,000                 123,000 131,000 126,000 51,000 54,000 45,000 
      deferred revenue
    		             -1,146,000 1,052,000 116,000 -335,000 -266,000 299,000 -285,000 283,000 -161,000 693,000 154,000 458,000 313,000 268,000 -342,000 -958,000 -1,955,000 -1,334,000 -428,000 -529,000 -660,000 1,059,000 1,011,000 526,000 443,000 705,000 511,000 187,000 
      purchases of property, equipment and intangible assets
    		              -1,830,000 -2,937,000 -2,362,000 -1,866,000 -938,000 -2,487,000 -2,245,000 -6,314,000 -7,992,000                   
      income tax payable
    		               -50,000 120,000 -2,535,000 -6,494,000                       
      accrued employee expenses—noncurrent
    		               -1,476,000 1,091,000 -204,000 1,172,000                       
      proceeds from sale of equity-method investment and recovery of note receivable
    		                                         
      payment of debt issuance costs
    		                       0 0 -60,000 -360,000             -218,000 -7,000 
      purchase consideration for acquisitions included in other current liabilities
    		                                         
      stock-based compensation
    		                4,063,000 3,214,000 2,776,000 2,217,000 3,096,000 2,753,000 959,000 1,878,000 2,192,000 1,687,000 1,552,000 1,918,000 1,764,000 1,337,000 1,318,000 1,792,000 1,588,000 1,619,000 1,097,000 1,457,000 1,289,000 1,092,000 463,000 384,000 278,000 
      condensed consolidated statements of cash flows
    		                                         
      other current liabilities
    		                 -280,000 310,000                       
      additions to capitalized software
    		                    -6,988,000 -5,887,000 -6,822,000 -5,329,000 -6,249,000 -4,762,000 -4,658,000 -3,307,000 -3,492,000 -2,569,000 -2,936,000 -2,370,000 -2,814,000 -2,280,000 -2,991,000 -2,612,000 -3,395,000 -2,980,000 -2,179,000 -2,304,000 -2,218,000 
      purchases of investment securities
    		                       -14,508,000 -10,012,000   -732,000 -7,952,000 -5,259,000 -15,573,000 -9,051,000 -2,000,000 -9,060,000 -6,537,000 -7,217,000 -7,649,000 -7,300,000 -9,385,000 -13,750,000  
      sales of investment securities
    		                       0 1,000,000 0 1,750,000 20,199,000 696,000 0 5,000 0    2,543,000    6,977,000  
      maturities of investment securities
    		                       4,660,000 7,000,000 1,750,000 2,250,000 4,342,000 12,882,000 7,299,000 8,296,000 5,500,000 3,485,000 3,044,000 4,445,000 4,225,000 14,782,000 0 2,330,000 14,309,000  
      acquisition, net of cash acquired
    		                       0 0 0 -54,004,000               
      additions of capitalized software included in accrued and accrued employee expenses
    		                                         
      debt issuance and other financing costs accrued, not paid
    		                                         
      purchases of intangible assets
    		                        0       0 0   0    -1,000 -5,000 
      other long-term assets
    		                         -111,000 1,365,000               
      other long-term liabilities
    		                         1,239,000 -859,000               
      purchased investment premium, net of amortization
    		                           43,000 5,000 32,000 62,000 -17,000 82,000 -90,000 -14,000 60,000 90,000 -50,000 145,000 -485,000  
      amortization of deferred financing costs
    		                           12,000 16,000 16,000 16,000 15,000 16,000 16,000 16,000 15,000 16,000 16,000 16,000 15,000 410,000 
      loss on disposal of property, equipment, and intangibles
    		                                         
      lease abandonment
    		                                   0 101,000 -31,000 91,000   
      cash paid in business acquisition
    		                           0              
      principal payments under capital lease obligations
    		                                   -5,000 -9,000 -8,000 -7,000 -5,000 -7,000 
      cash paid for taxes
    		                                         
      amortization of deferred costs
    		                                         
      loss on disposal of property and equipment
    		                            -2,000 19,000 1,000  5,000 61,000 28,000  1,000 3,000 29,000  -6,000 
      loss on disposal of property, equipment and intangibles
    		                                         
      proceeds from issuance of restricted stock
    		                                       0 0 
      proceeds from issuance of options
    		                                       0 0 
      proceeds from initial public offering, net of underwriting discounts and commissions
    		                                       0  
      payments of initial public offering costs
    		                                       -214,000 -3,192,000 
      additions of capitalized software included in accrued employee expenses
    		                                   227,000 -228,000 -95,000 554,000 -137,000 187,000 
      conversion of convertible preferred stock into common stock in connection with initial public offering
    		                                       0  
      net decrease in cash and cash equivalents
    		                                 -580,000 -2,730,000       
      change in fair value of contingent consideration
    		                                         
      loss on equity-method investment
    		                                         
      proceeds from the initial public offering, net of underwriting discounts and commissions
    		                                         
      initial public offering costs included in accrued expenses
    		                                         
      conversion of convertible preferred stock into common stock in connection with the initial public offering
    		                                         
      noncash interest expense
    		                                         
      sales and calls of investment securities
    		                                     8,069,000 11,005,000   
      interest expense paid through drawdown from the revolving credit facility
    		                                         
      net cash increase in cash and cash equivalents
    		                                      -795,000 305,000 -58,166,000 
      deferred ipo costs included in accrued expenses
    		                                         
      gain on sale to securedocs
    		                                         
      changes in operating assets and liabilities, net of business acquisition:
    		                                         
      proceeds from issuance of convertible preferred stock, net of issuance costs
    		                                         
      assets acquired under capital lease
    		                                         
      notes and equity method investment received in exchange for property and intangible assets
    		                                         
      proceeds from initial public offering, net of underwriting discounts
    		                                         
      conversion of convertible preferred stock for common stock in connection with initial public offering
    		                                         
      interest expense paid through drawdown from revolving facility
    		                                         
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.