APPF
AppFolio, Inc.231.06
+6.54+2.91%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
No Q&A; remarks untested
AppFolio's earnings call ended abruptly after prepared remarks, with no Q&A session at all. No contradictions, walk-backs, or fresh nuggets on strategy, competition, or risks surfaced to challenge the scripted narrative of AI-driven unit growth to 9.4 million and premium tier adoption. Management reaffirmed focus on RealmX performers and resident services. Guidance held firm at $1.1-1.12 billion revenue for 2026, implying 17% growth. No questions asked. Investors will watch if silence signals consensus or caution.
Key Stats
Market Cap
8.30BP/E (TTM)
41.48Basic EPS (TTM)
5.57Dividend Yield
0%Recent Filings
10-K
FY2025 results
AppFolio crushed FY2025 ended December 31, 2025 with revenue leaping 20% y/y to $950.8M, propelled by 8% growth in property management units to 9.4M and surging Value Added Services usage, while GAAP operating income held at 16.1%. Q4 delivered sequential strength amid typical VAS seasonality decline, with operating cash flow hitting $242.1M (25.5% of revenue). Strong liquidity persists at $251.2M in cash/investments, bolstered by a fresh $150M revolver, yet $146.7M flowed to buybacks under the new $300M program. Q4 margins stabilized through efficiency gains. New multi-year contracts swelled RPO to $93.9M. Regulatory scrutiny on tenant screening threatens quarterly momentum.
8-K
Q4 revenue up 22% to $248M
AppFolio reported Q4 revenue of $248M, up 22% year-over-year, with GAAP operating income doubling to $44M (17.6% margin) while units under management hit 9.4M, up 8%. Full-year revenue reached $951M, up 20%, backed by AI platform momentum. Momentum builds. Guides 2026 revenue to $1.1B-$1.12B, non-GAAP margins 25.5%-27.5%.
8-K
AppFolio adds finance-savvy director
AppFolio trimmed its board from nine to seven directors, then elected Saori Casey, Sonos CFO with deep finance chops from Apple and Cisco, as independent Class II director effective February 12, 2026. She'll serve until the 2026 annual meeting. Casey gets standard non-employee director pay. Brings audit expertise from Houzz.
8-K
Mazza separation terms finalized
AppFolio finalized a separation agreement with former Chief Trust Officer Matt Mazza, effective November 27, 2025, following his November 14 departure. He receives $315,000 in nine-month salary continuation, $219,462 pro-rated 2025 bonus, nine months COBRA, and up to $100,000 medical reimbursement—conditioned on release and covenants. No successor named yet.
8-K
AppFolio unveils platform vision
AppFolio hosted its 2025 Investor Meeting on November 18, unveiling a 'Real Estate Performance Management' platform vision to unify data, automate workflows, and drive ecosystem growth. YTD metrics shine: 9.1M units, $103 ARPU, 24% non-GAAP operating margin (reconciled), $177M operating cash flow. Realm-X AI boosts efficiency. Premium tiers now cover 25% of units.
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