AppFolio Income 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
Revenue	950.82	794.2	620.45	471.88	359.37
Revenue Growth (YoY)	19.72%	28.01%	31.48%	31.31%	15.90%
Cost of Revenue	345.34	282.07	235.71	191.83	143.94
Gross Profit	605.48	512.14	384.74	280.06	215.43
Selling, General & Admin	239.49	196.57	199.03	186.17	130.48
Research & Development	190.42	160.38	147.96	111.12	65.98
Operating Expenses	452.56	376.49	375.97	330.41	227.3
Operating Income	152.92	135.64	8.77	-50.35	-11.88
Interest & Investment Income	8.16	13.98	7.03	1.18	0.5
Other Non Operating Income (Expenses)	0.04	0.7	0	0.31	-0.04
EBT Excluding Unusual Items	161.11	150.32	15.8	-48.85	-11.41
Merger & Restructuring Charges	-	-	-12.08	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	12.77
Gain (Loss) on Sale of Assets	-	-	-	4.16	0.38
Asset Writedown	-	-	-	-22.02	-
Other Unusual Items	-	-	4.28	-	-
Pretax Income	161.11	150.32	8	-66.72	1.73
Income Tax Expense	20.19	-53.75	5.3	1.4	0.71
Net Income	140.92	204.07	2.7	-68.12	1.03
Preferred Dividends & Other Adjustments	-	0.01	-	-	-
Net Income to Common	140.92	204.06	2.7	-68.12	1.03
Net Income Growth	-30.94%	7452.48%	-	-	-99.35%
Shares Outstanding (Basic)	36	36	36	35	35
Shares Outstanding (Diluted)	36	37	36	35	36
Shares Change (YoY)	-1.24%	1.00%	4.02%	-1.94%	-0.03%
EPS (Basic)	3.91	5.63	0.08	-1.95	0.03
EPS (Diluted)	3.88	5.55	0.07	-1.95	0.03
EPS Growth	-30.09%	7828.57%	-	-	-99.33%
Free Cash Flow	238.95	186.14	51.24	18.83	27.29
Free Cash Flow Per Share	6.58	5.06	1.41	0.54	0.76
Gross Margin	63.68%	64.48%	62.01%	59.35%	59.95%
Operating Margin	16.08%	17.08%	1.41%	-10.67%	-3.31%
Profit Margin	14.82%	25.69%	0.43%	-14.44%	0.29%
Free Cash Flow Margin	25.13%	23.44%	8.26%	3.99%	7.59%
EBITDA	167.37	142.99	18.55	-43.13	-4.35
EBITDA Margin	17.60%	18.00%	2.99%	-9.14%	-1.21%
D&A For EBITDA	14.45	7.34	9.79	7.22	7.53
EBIT	152.92	135.64	8.77	-50.35	-11.88
EBIT Margin	16.08%	17.08%	1.41%	-10.67%	-3.31%
Effective Tax Rate	12.53%	-	66.21%	-	40.72%
Advertising Expenses	14.3	10.6	8.6	9.2	9.4

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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