AppFolio Inc-A 2025年季度报告

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ________ to ________. AppFolio, Inc. (Exact name of registrant as specified in its charter) (State of incorporation or organization) Santa Barbara,California filing requirements for the past 90 days.Yes☒No☐ Large accelerated filer☒Acceleratedfiler Forward-Looking StatementsPart I. Financial InformationItem 1. Condensed Consolidated Financial Statements (Unaudited)Condensed Consolidated Balance Sheets as ofMarch31, 2025and December 31, 2024Condensed Consolidated Statements of Operations for the ThreeMonths EndedMarch 31, 2025and2024Condensed Consolidated Statements of Comprehensive Income (Loss) for theThreeMonths EndedMarch 31, 2025 and 2024Condensed Consolidated Statements of Stockholders' Equity for theThree Months Ended March 31,2025 and 2024Condensed Consolidated Statements of Cash Flows for theThreeMonths EndedMarch 31, 2025 and2024Notes to Condensed Consolidated Unaudited Financial StatementsItem 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3. Quantitative and Qualitative Disclosures about Market RiskItem 4. Controls and ProceduresPart II. Other InformationItem 1. Legal Proceedings (UNAUDITED) Class AClass BCapitalIncome (Loss)StockEarningsSharesAmountSharesAmountBalance at December 31, 202423,241$213,163$2$254,821$173$(25,756)$290,048$519,290 Vesting of restricted stock units,net of shares withheld for taxes Conversion of Class B commonstock to Class A common stock182 Repurchase on common stock(445)—————(95,763)—Other comprehensive loss—————(207)—————————31,383Balance at March 31, 202523,039$212,981$2$262,237$(34)$(121,519)$321,431$462,119 Class AClass BCapitalIncome (Loss) Balance at December 31, 202321,749Exercise of stock options Stock-based compensation————13,646———Vesting of restricted stock units,net of shares withheld for taxes89———(14,086)———Conversion of Class B commonstock to Class A common stock199—(199)—————Other comprehensive loss—————(214)—————————38,663 6 (UNAUDITED) Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization6,255Amortization of operating lease right-of-use assets501Amortization of costs capitalized to obtain revenue contracts2,720Deferred income taxes(5,541) Accounts receivablePrepaid expenses and other assets (5,460)Accounts payable2,546Operating lease liabilities(1,051) Accordingly, these Condensed Consolidated Financial Statements should be read in conjunction with our audited consolidatedfinancial statements and the related notes included in our Annual Report, which was filed with the SEC on February 6, 2025. The year- end condensed balance sheet was derived from our audited consolidated financial statements. Our unaudited interim Condensed Consolidated Financial Statements include, in the opinion of management, all adjustments, consisting of normal and recurring items,necessary for the fair statement of our Condensed Consolidated Financial Statements.The operating results for the three months ended Statements.Segment Information Basic net income per share: NumeratorNet income$31,383$Less: undistributed earnings to participating securities— U.S. government and agency securities Total available-for-sale investment securities$ more likely than not we will hold the securities until maturity or recovery of the cost basis.Noallowance for credit losses foravailable-for-sale investment securities was recorded as of March31, 2025 or December31, 2024.The fair values of available-for-sale investment securities, by remaining contractual maturity, are as follows (in thousands): March 31, 2025Amortized Cost thousands): Gross RealizedGainsGross RealizedLossesGross Proceeds fromSalesGross Proceeds fromMaturitiesU.S. government and agency securities61(5)102,718$61$(5)$102,718$Three Months Ended March 31, 2024 U.S. government and agency securities———$—$—$—$ The tables above do not include our non-marketable debt securities of $2.0million, which are recorded inOther long termassetsin the Condensed Consolidated Balance Sheet as of March31, 2025. Fair Value MeasurementsRecurring Fair Value MeasurementsThe following tables present our financial assets and liabilities measured at fair value on a recurring basis as of March31, Cash equivalents:Money market funds$32,019$—$Available-for-sale investment securities:U.S. government and agency securities—153,881$32,019$153,881$ Money market funds Available-for-sale investment securities:U.S. government and agency securities—235,745$25,167$235,745$The carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued Fair value for our Level 1 investment securities is based on market prices for identical assets. Our Level 2 securities werepriced by a pricing vendor. The pricing vendor utilizes the most recent observable market information in pr