Friday 6 November 2026 Export APPF’s income statement to Excel — free account

AppFolio, Inc.

AppFolio, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $950.8 million, up 19.7% from fiscal 2024.

Revenue: +18.6%
EPS: +38.3%
Free cash flow: +14.5%

Quarter to September 2026, against a year earlier

232.54 4.31 −1.82%

Follow APPF

Alert me

Market cap: $8.3B
P/E: 48.8×
Fwd P/E: 44.1×
Dividend yield: —
F-score: 5/9
Altman Z: 37.76
Beneish M: −2.90
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

AppFolio, Inc. (APPF) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by products and services, and margins
Value Added Services	722	75.89%
Subscription Services	211	22.24%
Other	18	1.87%
Gross margin		63.68%
Operating margin		16.08%
Pre-tax margin		16.94%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2017	FY2016	FY2015	FY2014	FY2013
Value Added Services	722 75.89%	605 76.18%	454 73.19%	328 69.43%	241 67.14%	195 62.94%	154 60.15%	81 56.22%	57 53.95%	38 50.68%	23 47.25%	10 38.18%
Subscription Services	211 22.24%	181 22.74%	157 25.25%	133 28.09%	105 29.26%	101 32.55%	89 34.60%	57 39.73%	44 41.46%	32 42.84%	22 47.00%	14 54.30%
Other	18 1.87%	9 1.08%	10 1.56%	12 2.48%	13 3.60%	14 4.51%	13 5.25%	6 4.05%	5 4.59%	5 6.48%	3 5.75%	2 7.52%
Revenue	951	794	620	472	359	310	256	144	106	75	48	27

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Remaining performance obligations	Q3 FY2026	$161.4M	—	—
Total units under management	Q3 FY2026	9.8M	9.1M	+7.69%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total units under management	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.