AppFolio Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	140.92	204.07	2.7	-68.12	1.03
Depreciation & Amortization	22.65	19.54	28.99	30.82	29.03
Stock-Based Compensation	70.79	60.33	52.36	43.23	17.15
Other Adjustments	29.36	-73.14	3.77	20.2	-9.45
Change in Receivables	-12.53	-3.38	-4.21	-4.2	-2.1
Changes in Accounts Payable	1.77	1.56	-1.57	1.18	0.5
Changes in Accrued Expenses	14.85	-11.81	3.74	12.06	1.39
Changes in Other Operating Activities	-25.71	-9	-25.51	-9.81	-2.16
Operating Cash Flow	242.11	188.16	60.28	25.37	35.39
Operating Cash Flow Growth	28.67%	212.13%	137.66%	-28.33%	-26.72%
Capital Expenditures	-3.16	-2.02	-9.04	-6.54	-8.1
Purchases of Intangible Assets	-3.44	-5.17	-4.83	-14.69	-24.62
Purchases of Investments	-303.89	-317.17	-195.11	-79.28	-241.22
Proceeds from Sale of Investments	321.63	250.02	153.4	88.88	150.55
Payments for Business Acquisitions	-0.91	-77.42	-	-	-
Proceeds from Business Divestments	-	-	-	5.12	0.4
Other Investing Activities	-	-	-	0.04	12.52
Investing Cash Flow	10.24	-151.76	-55.58	-6.47	-110.46
Issuance of Common Stock	1.09	3.92	2.6	4.47	2.61
Repurchase of Common Stock	-188.97	-47.33	-28.56	-10.64	-9.96
Net Common Stock Issued (Repurchased)	-187.89	-43.4	-25.96	-6.16	-7.35
Financing Cash Flow	-187.89	-43.4	-25.96	-6.16	-7.35
Net Cash Flow	64.46	-7.01	-21.26	12.74	-82.42
Free Cash Flow	238.95	186.14	51.24	18.83	27.29
Free Cash Flow Growth	28.37%	263.26%	172.20%	-31.01%	-6.74%
FCF Margin	25.13%	23.44%	8.26%	3.99%	7.59%
Free Cash Flow Per Share	6.58	5.06	1.41	0.54	0.76
Levered Free Cash Flow	151.33	202.34	-0.68	-40.41	21.69
Unlevered Free Cash Flow	144.16	182.41	-3.06	-46.18	13.62

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.