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AppFolio (NASDAQ: APPF) lifts 2026 outlook after 20% Q1 revenue growth

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

AppFolio, Inc. reported strong first quarter 2026 results with faster growth and higher profitability. Revenue grew 20% year-over-year to $262.2 million, driven by subscription and value added services, while total units under management rose 8% to 9.5 million.

GAAP operating income increased to $50.7 million, or 19.4% of revenue, compared with $33.8 million, or 15.5% of revenue, in Q1 2025. Non-GAAP operating income rose to $71.5 million, or 27.3% of revenue, up from $53.0 million, or 24.3%.

GAAP net income was $42.4 million, with diluted EPS of $1.18, versus $31.4 million and $0.86 a year earlier. The company repurchased 703,000 Class A shares for $125 million and generated $34.3 million of operating cash flow.

For full-year 2026, AppFolio raised its outlook, guiding revenue to $1.110–$1.125 billion and non-GAAP operating margin to 26.0%–28.0%, and now expects approximately 36 million diluted weighted average shares outstanding.

Positive

  • Stronger growth and profit outlook: Q1 2026 revenue grew 20% year-over-year to $262.2 million, GAAP operating margin expanded from 15.5% to 19.4%, and the company raised full-year 2026 guidance to $1.110–$1.125 billion of revenue and a 26.0%–28.0% non-GAAP operating margin.

Negative

  • None.

Insights

AppFolio combines 20% revenue growth with rising margins and higher 2026 guidance.

AppFolio delivered Q1 2026 revenue of $262.2M, up 20% year-over-year, with both subscription and value added services contributing. Total units under management reached 9.5 million, up 8%, indicating continued customer and usage expansion across its real estate software platform.

Profitability improved meaningfully. GAAP operating income rose to $50.7M with a 19.4% margin, while non-GAAP operating income reached $71.5M and a 27.3% margin, both higher than Q1 2025. GAAP net income increased to $42.4M and diluted EPS to $1.18.

The company also returned capital, repurchasing 703,000 Class A shares for $125M, while generating $34.3M in operating cash flow. For fiscal 2026, AppFolio raised its outlook, guiding revenue to $1.110–$1.125B and non-GAAP operating margin to 26.0%–28.0%, signaling confidence in sustained growth and efficiency.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q1 2026 revenue $262.2M Three months ended March 31, 2026; up 20% year-over-year
Q1 2026 GAAP operating income $50.7M 19.4% operating margin vs 15.5% in Q1 2025
Q1 2026 non-GAAP operating income $71.5M 27.3% non-GAAP operating margin vs 24.3% in Q1 2025
Q1 2026 GAAP net income $42.4M Net income with diluted EPS of $1.18
Share repurchases 703,000 shares for $125M Class A common stock repurchased in Q1 2026
2026 revenue outlook $1.110–$1.125B Updated full-year 2026 revenue guidance range
2026 non-GAAP operating margin outlook 26.0%–28.0% Projected non-GAAP operating margin for full-year 2026
Units under management 9.5M units Total units under management in Q1 2026, up 8% year-over-year
non-GAAP operating margin financial
"Non-GAAP operating income grew 35% to $72 million, or 27.3% of revenue"
Non-GAAP operating margin is a way companies show how much profit they make from their main business activities, excluding certain expenses or income they consider unusual or non-recurring. It helps investors see how well the company is performing in its normal operations, without the effects of one-time costs or gains that might distort the picture.
stock-based compensation expense financial
"Includes stock-based compensation expense as follows"
Stock-based compensation expense is the value that a company records when it gives employees or executives shares or options to buy shares as part of their pay. It matters because it shows the true cost of paying employees this way, which can affect the company's profits and how investors see its financial health.
value added services financial
"Value Added Services | 201,363 | | | 164,706"
forward-looking statements regulatory
"This press release contains “forward-looking statements” within the meaning of Section 27A"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
deferred income taxes financial
"Deferred income taxes | | 50,795 | | | 58,823"
Deferred income taxes are accounting entries that record taxes a company will owe or reclaim in the future because the company's financial accounting and its tax returns recognize income or expenses at different times. They matter to investors because deferred taxes affect future cash flow and can change a company’s real profit picture—think of them as a postponed tax bill or credit that shifts when and how much cash actually leaves or enters the business.
Revenue $262.2M up 20% year-over-year
GAAP operating margin 19.4%
Non-GAAP operating margin 27.3%
GAAP net income $42.4M
Non-GAAP net income $57.6M
Guidance

For fiscal 2026, AppFolio guides to $1.110–$1.125 billion in revenue and a 26.0%–28.0% non-GAAP operating margin, with approximately 36 million diluted weighted average shares outstanding.

Understanding 8-K Material Events →
0001433195false00014331952026-04-232026-04-23

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 23, 2026
AppFolio, Inc.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)
001-3746826-0359894
(Commission File Number)(IRS Employer Identification Number)
70 Castilian Drive
Santa Barbara, CA 93117
(Address of principal executive offices)
Registrant’s telephone number, including area code: (805) 364-6093
N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Class A Common Stock, $0.0001 par valueAPPFNASDAQ Global Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02 Results of Operations and Financial Condition.
On April 23, 2026, AppFolio, Inc. (the "Company") issued a press release announcing its financial results for its first quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1.
The information contained in this Item 2.02, including the press release attached hereto as Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that Section. Such information shall not be deemed to be incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as otherwise expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit Number
Description
99.1
Press release issued on April 23, 2026, announcing AppFolio, Inc.'s financial results for its first quarter ended March 31, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
April 23, 2026AppFolio, Inc.
By: /s/ Tim Eaton
Name: Tim Eaton
Title: Chief Financial Officer





primary-inc_wordmark.jpg

AppFolio, Inc. Announces First Quarter 2026 Financial Results
Strong Revenue Growth and Margin Expansion Underscore an Impressive Start to 2026

SANTA BARBARA, Calif., April 23, 2026 -- AppFolio, Inc. (NASDAQ: APPF) ("AppFolio" or the "Company"), a technology leader powering the future of the real estate industry, today announced its financial results for the first quarter ended March 31, 2026.

"We are proud of our start to 2026 - our strategy is translating into strong financial outcomes and our momentum continues," said Shane Trigg, President and CEO. "We are putting AI to work across every dimension of our business, accelerating performance for our customers while driving greater efficiency across our own operations. Our ability to expand both customer value and financial performance continues to grow."

Financial Highlights for First Quarter of 2026
•Revenue grew 20% year-over-year to $262 million.
•Total units under management grew 8% year-over-year to 9.5 million.
•GAAP operating income grew 50% to $51 million, or 19.4% of revenue, compared to $34 million, or 15.5% of revenue in Q1 2025.
•Non-GAAP operating income grew 35% to $72 million, or 27.3% of revenue, compared to $53 million, or 24.3% of revenue in Q1 2025.
•Net cash provided by operating activities was $34 million, or 13.1% of revenue, compared to $38 million, or 17.7% of revenue in Q1 2025.
•Repurchased 703 thousand shares of the Company's Class A common stock for $125 million.

Financial Outlook
Based on information available as of April 23, 2026, AppFolio's outlook for fiscal year 2026 follows:
•Full year revenue range is increasing to $1.110 - $1.125 billion.
•Full year non-GAAP operating margin range as a percentage of revenue is increasing to 26.0% - 28.0%.
•Diluted weighted average shares outstanding are now expected to be approximately 36 million for the full year.

Conference Call Information
As previously announced, the Company will host a conference call today, April 23, 2026, at 2:00 p.m. Pacific Time (PT), 5:00 p.m. Eastern Time (ET), to discuss the Company’s first quarter financial results. A live webcast of the call will be available at: https://edge.media-server.com/mmc/p/hja3su4g. To access the call by phone, please go to the following link: https://register-conf.media-server.com/register/BI3901a9bd63cb48c1a2cf4d7d4e1b8821, and you will be provided with dial-in details. A replay of the webcast will also be available for a limited time on AppFolio’s Investor Relations website at https://ir.appfolioinc.com/news-events/events.

The Company also provides announcements regarding its financial results and other matters, including SEC filings, investor events, and press releases, on its Investor Relations website at https://ir.appfolioinc.com/, as a means of



disclosing material nonpublic information and for complying with AppFolio's disclosure obligations under Regulation FD.

About AppFolio
AppFolio is a technology leader powering the future of the real estate industry. Our innovative platform and trusted partnership enable our customers to connect communities, increase operational efficiency, and grow their business. For more information about AppFolio, visit ir.appfolioinc.com.

Investor Relations Contact:
Lori Barker
ir@appfolio.com

Use of Non-GAAP Financial Measures
Reconciliations of current and historical non-GAAP financial measures to AppFolio’s financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section of the tables entitled “Statement Regarding the Use of Non-GAAP Financial Measures.”

AppFolio is unable, at this time, to provide GAAP equivalent guidance measures on a forward-looking basis for non-GAAP operating margin because certain items that impact this measure are uncertain, out of our control, or cannot be reasonably predicted, such as charges related to stock-based compensation expense. The effect of these excluded items may be significant.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements that are not statements of historical fact contained in this press release, and can be identified by words such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “future’” “predicts, “projects,” “target,” “seeks,” “contemplates,” “should,” “will,” “would” or similar expressions and the negatives of those expressions. In particular, forward-looking statements contained in this press release relate to future operating results and financial position, including the Company's fiscal year 2026 financial outlook, anticipated future expenses and investments, the Company's business opportunities, the impact of the Company's strategic actions and initiatives, the potential benefits and effect of AI and its impact on the Company’s plans, objectives, expectations and capabilities.

Forward-looking statements represent AppFolio's current beliefs and expectations based on information currently available and speak only as of the date the statement is made. Forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to materially differ from those expressed or implied by these forward-looking statements include those risks, uncertainties and other factors described in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which was filed with the SEC on February 5, 2026, as such risk factors may be updated from time to time in our subsequent



filings with the SEC, and the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recently filed Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as well as in the Company's other filings with the SEC. You should read this press release with the understanding that the Company's actual future results may be materially different from the results expressed or implied by these forward-looking statements.

The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.




CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(in thousands)
 March 31,
2026		December 31,
2025
Assets
Current assets
Cash and cash equivalents$147,412 $106,967 
Investment securities—current4,241 144,256 
Accounts receivable, net43,966 36,873 
Prepaid expenses and other current assets59,323 65,218 
Total current assets254,942 353,314 
Property and equipment, net22,449 23,228 
Operating lease right-of-use assets15,364 15,924 
Capitalized software development costs, net11,416 11,324 
Goodwill96,410 96,410 
Intangible assets, net36,269 38,826 
Deferred income taxes50,795 58,823 
Long-term investments77,668 77,033 
Other long-term assets15,247 14,085 
Total assets$580,560 $688,967 
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable$3,740 $4,123 
Accrued employee expenses25,163 59,774 
Accrued expenses21,436 20,829 
Other current liabilities22,018 22,121 
Total current liabilities72,357 106,847 
Operating lease liabilities31,981 33,287 
Other liabilities5,994 6,254 
Total liabilities110,332 146,388 
Stockholders’ equity470,228 542,579 
Total liabilities and stockholders’ equity$580,560 $688,967 




CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(in thousands, except per share amounts)

 Three Months Ended
March 31,
 20262025
Revenue(1)
$262,214 $217,702 
Costs and operating expenses:
Cost of revenue (exclusive of depreciation and amortization)(2)
94,975 79,498 
Sales and marketing(2)
37,501 31,057 
Research and product development(2)
49,629 43,758 
General and administrative(2)
24,341 23,351 
Depreciation and amortization5,020 6,255 
Total costs and operating expenses211,466 183,919 
Income from operations50,748 33,783 
Other income, net
569 56 
Interest income, net1,784 2,953 
Income before provision for income taxes53,101 36,792 
Provision for income taxes10,677 5,409 
Net income$42,424 $31,383 
Net income per common share:
Basic$1.19 $0.86 
Diluted$1.18 $0.86 
Weighted average common shares outstanding
Basic35,699 36,302 
Diluted35,812 36,648 
(1) The following table presents our revenue categories:
 Three Months Ended
March 31,
 20262025
Subscription Services
$58,222 $49,513 
Value Added Services201,363 164,706 
Other2,629 3,483 
Total revenue$262,214 $217,702 

(2) Includes stock-based compensation expense as follows:

Three Months Ended
March 31,
20262025
Costs and operating expenses:
Cost of revenue (exclusive of depreciation and amortization)$1,088 $1,287 
Sales and marketing3,340 2,848 
Research and product development7,882 6,931 
General and administrative5,679 5,305 
Total stock-based compensation expense$17,989 $16,371 




CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands)
 Three Months Ended
March 31,
 20262025
Cash from operating activities
Net income$42,424 $31,383 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization5,020 6,255 
Amortization of operating lease right-of-use assets560 501 
Amortization of costs capitalized to obtain revenue contracts, net3,168 2,720 
Deferred income taxes8,028 (5,541)
Stock-based compensation, including as amortized17,989 16,371 
Other(523)(917)
Changes in operating assets and liabilities:
Accounts receivable(7,443)(3,116)
Prepaid expenses and other assets(8,206)(5,460)
Accounts payable(382)2,546 
Operating lease liabilities(1,180)(1,051)
Accrued expenses and other liabilities(25,157)(5,226)
Net cash provided by operating activities34,298 38,465 
Cash from investing activities
Purchases of available-for-sale investments(42,663)(62,302)
Proceeds from sales of available-for-sale investments140,154 102,718 
Proceeds from maturities of available-for-sale investments42,360 42,150 
Purchases of property and equipment(231)(230)
Capitalization of software development costs(1,304)(636)
Cash paid in business acquisition, net of cash acquired— (906)
Net cash (used in) provided by investing activities138,316 80,794 
Cash from financing activities
Proceeds from stock option exercises and the issuance of common stock under the Employee Stock Purchase Plan998 11 
Tax withholding for net share settlement(8,157)(9,078)
Purchase of common stock(125,010)(95,763)
Net cash used in financing activities(132,169)(104,830)
Net increase in cash, cash equivalents and restricted cash40,445 14,429 
Cash, cash equivalents and restricted cash
Beginning of period107,217 42,754 
End of period$147,662 $57,183 




RECONCILIATION FROM GAAP TO NON-GAAP RESULTS
(UNAUDITED)
(in thousands, except per share data)

Three Months Ended
March 31,
20262025
Costs and operating expenses:
GAAP cost of revenue (exclusive of depreciation and amortization)$94,975 $79,498 
Stock-based compensation expense(1,088)(1,287)
Non-GAAP cost of revenue (exclusive of depreciation and amortization)$93,887 $78,211 
GAAP cost of revenue (exclusive of depreciation and amortization) as a percentage of revenue36 %37 %
Non-GAAP cost of revenue (exclusive of depreciation and amortization) as a percentage of revenue36 %36 %
GAAP sales and marketing$37,501 $31,057 
Stock-based compensation expense(3,340)(2,848)
Non-GAAP sales and marketing$34,161 $28,209 
GAAP sales and marketing as a percentage of revenue14 %14 %
Non-GAAP sales and marketing as a percentage of revenue13 %13 %
GAAP research and product development$49,629 $43,758 
Stock-based compensation expense(7,882)(6,931)
Non-GAAP research and product development$41,747 $36,827 
GAAP research and product development as a percentage of revenue19 %20 %
Non-GAAP research and product development as a percentage of revenue16 %17 %
GAAP general and administrative$24,341 $23,351 
Stock-based compensation expense(5,679)(5,305)
Non-GAAP general and administrative$18,662 $18,046 
GAAP general and administrative as a percentage of revenue9 %11 %
Non-GAAP general and administrative as a percentage of revenue7 %8 %
GAAP depreciation and amortization$5,020 $6,255 
Amortization of stock-based compensation capitalized in software development costs(241)(241)
Amortization of purchased intangibles(2,558)(2,558)
Non-GAAP depreciation and amortization$2,221 $3,456 
GAAP depreciation and amortization as a percentage of revenue2 %3 %
Non-GAAP depreciation and amortization as a percentage of revenue1 %2 %



Three Months Ended
March 31,
20262025
Income from operations:
GAAP income from operations$50,748 $33,783 
Stock-based compensation expense17,989 16,371 
Amortization of stock-based compensation capitalized in software development costs241 241 
Amortization of purchased intangibles2,558 2,558 
Non-GAAP income from operations$71,536 $52,953 
Operating margin:
GAAP operating margin19.4 %15.5 %
Stock-based compensation expense as a percentage of revenue6.8 7.5 
Amortization of stock-based compensation capitalized in software development costs as a percentage of revenue0.1 0.1 
Amortization of purchased intangibles as a percentage of revenue1.0 1.2 
Non-GAAP operating margin27.3 %24.3 %
Net income (loss):
GAAP net income $42,424 $31,383 
Stock-based compensation expense17,989 16,371 
Amortization of stock-based compensation capitalized in software development costs241 241 
Amortization of purchased intangibles2,558 2,558 
Income tax effect of adjustments(5,579)(6,343)
Non-GAAP net income$57,633 $44,210 
Net income per share, basic:
GAAP net income per share, basic $1.19 $0.86 
Non-GAAP adjustments to net income0.42 0.36 
Non-GAAP net income per share, basic $1.61 $1.22 
Net income per share, diluted:
GAAP net income per share, diluted$1.18 $0.86 
Non-GAAP adjustments to net income0.43 0.35 
Non-GAAP net income per share, diluted$1.61 $1.21 
Weighted-average shares used in GAAP and non-GAAP per share calculation
Basic35,699 36,302 
Diluted35,812 36,648 














Statement Regarding the Use of Non-GAAP Financial Measures

We use the following non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.

•Non-GAAP presentation of income from operations, costs and operating expenses, operating margin, net income, and net income per share. These measures exclude certain non-cash or non-recurring items, including stock-based compensation expense, amortization of stock-based compensation capitalized in software development costs, amortization of purchased intangibles, and the related income tax effect of these adjustments, as applicable and described below. Non-GAAP operating margin is calculated as non-GAAP operating income from operations as a percentage of revenue.

We use each of these non-GAAP financial measures internally to assess and compare operating results across reporting periods, for internal budgeting and forecasting purposes, and to evaluate our financial performance. We believe these non-GAAP financial measures also provide useful supplemental information to investors and facilitate the analysis of our operating results and comparison of operating results across reporting periods.

In particular, we believe these non-GAAP financial measures are useful to investors and others in assessing our operating performance due to the following factors:

•Stock-based compensation expense and amortization of stock-based compensation capitalized in software development costs. We utilize stock-based compensation to attract and retain employees. It is principally aimed at aligning their interests with those of our stockholders while ensuring long-term retention, rather than to address operational performance for any particular period. As a result, stock-based compensation expenses vary for reasons that are generally unrelated to financial and operational performance in any particular period.

•Amortization of purchased intangibles. We view amortization of purchased intangible assets as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is an expense that is not typically affected by operations during any particular period.

•Income tax effects of adjustments. We utilize a fixed long-term projected tax rate in our computation of non-GAAP income tax effects to provide better consistency across interim reporting periods. In projecting this long-term non-GAAP tax rate, we utilize a financial projection that excludes the direct impact of other non-GAAP adjustments. The projected rate, which we have determined to be 22% and 21% for 2026 and 2025, respectively, considers other factors such as our current operating structure, existing tax positions in various jurisdictions, and key legislation in major jurisdictions where we operate. We periodically re-evaluate this tax rate, as necessary, for significant events, based on relevant tax law changes, and material changes in the forecasted geographic earnings mix.

Our non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and can exclude expenses that may have a material impact on our reported financial results. As such, non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. A reconciliation of the historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the tables above. We encourage investors to review the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measures.




###

Source: View Original Filing on SEC EDGAR

FAQ

How did AppFolio (APPF) perform financially in Q1 2026?

AppFolio delivered strong Q1 2026 results with revenue of $262.2 million, up 20% year-over-year. GAAP operating income was $50.7 million and GAAP net income reached $42.4 million, with diluted earnings per share of $1.18, reflecting improved profitability.

What margins did AppFolio (APPF) report for Q1 2026?

AppFolio reported a Q1 2026 GAAP operating margin of 19.4%, up from 15.5% a year earlier. Non-GAAP operating margin was 27.3%, compared with 24.3% in Q1 2025, showing meaningful operating leverage alongside the company’s 20% revenue growth.

What is AppFolio’s financial outlook for full-year 2026?

For fiscal 2026, AppFolio expects full-year revenue between $1.110 billion and $1.125 billion. The company projects a non-GAAP operating margin of 26.0%–28.0% and anticipates approximately 36 million diluted weighted average shares outstanding for the year.

How much stock did AppFolio (APPF) repurchase in Q1 2026?

In Q1 2026, AppFolio repurchased 703,000 shares of its Class A common stock for $125 million. These buybacks returned capital to shareholders while the company continued to grow revenue and expand both GAAP and non-GAAP operating margins.

What were AppFolio’s non-GAAP results and EPS for Q1 2026?

AppFolio’s Q1 2026 non-GAAP income from operations was $71.5 million, with a non-GAAP operating margin of 27.3%. Non-GAAP net income totaled $57.6 million, resulting in non-GAAP diluted net income per share of $1.61, above GAAP diluted EPS of $1.18.

How did AppFolio’s cash flow and balance sheet look in Q1 2026?

Net cash provided by operating activities in Q1 2026 was $34.3 million. AppFolio ended March 31, 2026 with $147.4 million in cash and cash equivalents and $77.7 million in long-term investments, alongside total assets of $580.6 million and stockholders’ equity of $470.2 million.

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