AppFolio Inc-A 2024年度报告

FORM 10-K_________________ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 For the transition period fromto Commission File Number 001-37468 AppFolio, Inc.(Exact name of registrant as specified in its charter) 26-0359894 (State of incorporation or organization)(I.R.S. Employer Identification No.) 70 Castilian DriveSanta Barbara,California93117(Address of principal executive offices)(Zip Code) (805) 364-6093Registrant’s telephone number, including area code Securities registered pursuant to Section 12(b) of the Exchange Act: Title of each classTrading Symbol(s)Name of exchange on which registeredClass A common stock, par value $0.0001per shareAPPFThe NASDAQ Stock Market LLC Securities registered pursuant to Section 12(g) of the Exchange Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☐No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of theAct. Yes☐No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports) and (2) has been subject to such filing requirements for the past 90 days.Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files).Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.(Check one): Large accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessmentof the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatementsof the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant’s executive officers during the relevant recoveryperiod pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☐ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant,based on the closing price of the registrant’s common stock on June 30, 2024 (the last business day of theregistrant’s mostly recently completed second fiscal quarter), as reported on the NASDAQ Global Market on suchdate, was approximately $6.634 billion. At January 30, 2025, the number of shares of the registrant’s Class A common stock outstanding was 23,241,750and the number of shares of the registrant’s Class B common stock outstanding was 13,163,007. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive Proxy Statement for the 2025 Annual Meeting of Stockholders (the “ProxyStatement”), to be filed with the Securities and Exchange Commission (the “SEC”) pursuant to Regulation 14A notlater than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K (this “AnnualReport”), are incorporated by reference in Part III, Items 10-14 of this Annual Report. Except for the portions of theProxy Statement specifically incorporated by reference in this Annual Report, the Proxy Statement shall not bedeemed to be filed as part hereof. APPFOLIO, INC.ANNUAL REPORT ON FORM 10-KFOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 TABLE OF CONTENTS SectionPage No. Part I Item 1.Business1Item 1A.Risk Factors8Item 1B.Unresolved Staff Comments20Item 1C.Cybersecurity20Item 2.Properties21Item 3.Legal Proceedings21Item 4.Mine Safety Disclosures21 Item 5.Market for Registrant's Common Equity, Related StockholderMatters and Issuer Purchases of Equity Securities21Item 6.[RESERVE