AppFolio, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $950.8M | $794.2M | $620.4M | $471.9M | $359.4M | $310.1M | $256.0M | $190.1M |
| Cost of Revenue | — | — | — | — | $143.9M | $119.0M | $101.6M | $73.5M |
| Gross Profit | — | — | — | — | $215.4M | $191.0M | $154.4M | $116.5M |
| Gross Margin | — | — | — | — | 59.9% | 61.6% | 60.3% | 61.3% |
| Operating Expenses | ||||||||
| Research & Development | $190.4M | $160.4M | $151.4M | $111.1M | $66.0M | $48.5M | $39.5M | $24.1M |
| SG&A Expense | $95.6M | $86.0M | $93.5M | $100.8M | $57.3M | $47.5M | $34.5M | $24.9M |
| Operating Income | $152.9M | $135.6M | $963.0K | $-72.4M | $-11.9M | $9.8M | $6.5M | $19.7M |
| Operating Margin | 16.1% | 17.1% | 0.2% | -15.3% | -3.3% | 3.2% | 2.5% | 10.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $161.1M | $150.3M | $8.0M | $-66.7M | $1.7M | $196.8M | $4.8M | $20.4M |
| Income Tax Expense | $20.2M | $-53.7M | $5.3M | $1.4M | $706.0K | $38.4M | $-31.5M | $420.0K |
| Net Income | $140.9M | $204.1M | $2.7M | $-68.1M | $1.0M | $158.4M | $36.3M | $20.0M |
| Net Margin | 14.8% | 25.7% | 0.4% | -14.4% | 0.3% | 51.1% | 14.2% | 10.5% |
| EPS (Basic) | $3.91 | $5.63 | $0.08 | $-1.95 | $0.03 | $4.62 | $1.07 | $0.59 |
| EPS (Diluted) | $3.88 | $5.55 | $0.07 | $-1.95 | $0.03 | $4.44 | $1.02 | $0.56 |
| Shares Outstanding (Basic) | 36.0M | 36.3M | 35.6M | 35.0M | 34.6M | 34.3M | 34.0M | 34.1M |
| Shares Outstanding (Diluted) | 36.3M | 36.8M | 36.4M | 35.0M | 35.7M | 35.7M | 35.6M | 35.6M |
| Dividends Per Share | — | — | — | — | — | — | — | — |