AppFolio, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $140.9M | $204.1M | $2.7M | $-68.1M | $1.0M | $158.4M | $36.3M | $20.0M |
| Depreciation & Amortization | $22.7M | $19.5M | $29.0M | $30.8M | $29.0M | $26.8M | $22.4M | $14.6M |
| Depreciation | $4.3M | $5.2M | $7.3M | $5.1M | $4.7M | $4.0M | $3.1M | $2.4M |
| Amortization | $10.2M | $2.1M | $2.5M | $4.4M | $4.6M | $4.9M | $5.3M | $1.2M |
| Stock-Based Compensation | $70.8M | $60.3M | $52.4M | $43.2M | $17.2M | $10.3M | $8.1M | $6.3M |
| Net Cash from Operating Activities | $242.1M | $188.2M | $60.3M | $25.4M | $35.4M | $48.3M | $38.9M | $36.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $3.2M | $2.0M | $9.0M | $6.5M | $8.1M | $19.0M | $8.1M | $2.1M |
| Business Acquisitions | $906.0K | $77.4M | $0 | $0 | $0 | $0 | $54.0M | $14.4M |
| Net Cash from Investing Activities | $10.2M | $-151.8M | $-55.6M | $-6.5M | $-110.5M | $146.5M | $-89.9M | $-4.6M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $145.7M | $0 | $0 | $0 | $0 | $4.2M | $0 | $21.6M |
| Net Cash from Financing Activities | $-187.9M | $-43.4M | $-26.0M | $-6.2M | $-7.3M | $-70.4M | $-7.3M | $26.3M |
| Net Change in Cash | $64.5M | $-7.0M | $-21.3M | $12.7M | $-82.4M | $124.5M | $-58.3M | — |
| Free Cash Flow | $239.0M | $186.1M | $51.2M | $18.8M | $27.3M | $29.3M | $30.8M | $34.2M |