Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $106M | $144M | $190M | $256M | $310M | $359M | $472M | $620M | $794M | $951M |
| Revenue growth | — | 36.2% | 32.2% | 34.7% | 21.1% | 15.9% | 31.3% | 31.5% | 28.0% | 19.7% |
| Operating income | -$8.42M | $9.34M | $19.7M | $6.46M | $9.78M | -$11.9M | -$72.4M | $963K | $136M | $153M |
| Operating margin | -8.0% | 6.5% | 10.3% | 2.5% | 3.2% | -3.3% | -15.3% | 0.2% | 17.1% | 16.1% |
| Net income | -$8.28M | $9.72M | $20.0M | $36.3M | $158M | $1.03M | -$68.1M | $2.70M | $204M | $141M |
| Net margin | -7.8% | 6.8% | 10.5% | 14.2% | 51.1% | 0.3% | -14.4% | 0.4% | 25.7% | 14.8% |
| EPS (diluted) | -$0.25 | $0.28 | $0.56 | $1.02 | $4.44 | $0.03 | -$1.95 | $0.07 | $5.55 | $3.88 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $11.5M | $29.4M | $36.3M | $38.9M | $48.3M | $35.4M | $25.4M | $60.3M | $188M | $242M |
| Capital expenditures | $4.24M | $2.21M | $2.10M | $8.08M | $19.0M | $8.10M | $6.54M | $9.04M | $2.02M | $3.15M |
| Free cash flow | $7.26M | $27.2M | $34.2M | $30.8M | $29.3M | $27.3M | $18.8M | $51.2M | $186M | $239M |
| Share buybacks | $0.00 | $0.00 | $21.6M | $0.00 | $4.19M | $0.00 | $0.00 | $0.00 | $0.00 | $146M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $10.7M | $16.1M | $74.1M | $15.8M | $140M | $57.8M | $70.8M | $49.5M | $42.5M | $107M |
| Total assets | $92.6M | $110M | $176M | $260M | $389M | $408M | $381M | $409M | $627M | $689M |
| Total liabilities | $22.9M | $25.2M | $83.9M | $128M | $104M | $111M | $116M | $112M | $107M | $146M |
| Long-term debt | — | $0.00 | $48.6M | $47.4M | — | — | — | — | — | — |
| Shareholders' equity | $69.7M | $85.1M | $91.8M | $132M | $286M | $297M | $266M | $297M | $519M | $543M |
| Retained earnings | -$77.0M | -$67.2M | -$64.3M | -$8.03M | $150M | $151M | $83.3M | $86.0M | $290M | $431M |
| Shares (wtd avg diluted) | 33.6M | 35.2M | 35.6M | 35.6M | 35.7M | 35.7M | 35.0M | 36.4M | 36.8M | 36.3M |
Every figure is extracted from APPFOLIO INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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