APPFOLIO (APPF) Company Report

AppFolio reported Q4 2025 revenue of $248 million, a 22% year-over-year increase, and full-year 2025 revenue of $951 million, representing 20% year-over-year growth.
The company's non-GAAP operating margin was 24.9% for Q4 2025 and 24.7% for the full year 2025.
AppFolio grew its units on platform to 9.4 million and increased its customer base to 22,096, reflecting an 8% increase in units and a 6% increase in customers year-over-year.
For 2026, AppFolio anticipates annual revenue between $1.1 billion and $1.12 billion, with a full-year midpoint growth rate of 17%, and expects non-GAAP operating margin to be between 25.5% and 27.5%.

7 hours ago

Transcript

AppFolio Reports Q4 and Full Year 2025 Financial Results, Provides 2026 Outlook

APPF

Earnings

Guidance Update

New Projects/Investments

AppFolio reported Q4 2025 revenue of $248 million, a 22% year-over-year increase, and full year 2025 revenue of $951 million, up 20% year-over-year. Non-GAAP operating margin for Q4 was 24.9% and 24.7% for the full year.
The company expanded its platform, reaching 9.4 million units from 22,096 customers by the end of Q4 2025, an 8% increase in units and 6% increase in customers year-over-year. Over 500,000 units were added in the second half of 2025, and 98% of customers actively use AppFolio's AI capabilities.
For 2026, AppFolio projects annual revenue between $1.1 billion and $1.12 billion, with a midpoint growth rate of 17%, and expects non-GAAP operating margin to be between 25.5% and 27.5%. The company aims to achieve the $1 billion revenue milestone in 2026.

8 hours ago

Transcript

AppFolio Reports Strong Q4 and Full Year 2025 Results, Provides 2026 Guidance

APPF

Earnings

Guidance Update

Revenue Acceleration/Inflection

AppFolio reported Q4 2025 revenue of $248 million, a 22% year-over-year increase, and full-year 2025 revenue of $951 million, representing 20% year-over-year growth. The non-GAAP operating margin for Q4 2025 was 24.9%, and for the full year 2025, it was 24.7%.
The company's platform grew to 9.4 million units from 22,096 customers by the end of Q4 2025, reflecting an 8% increase in units and a 6% increase in customers year-over-year, with over 500,000 units added in the second half of 2025.
AppFolio highlighted its AI-powered innovation, with 98% of customers actively using AI capabilities and rapid adoption of new Realm-X Performers. Adoption of premium tiers (Plus and Max) exceeded 25%.
For 2026, the company anticipates annual revenue between $1.1 billion and $1.12 billion, targeting a midpoint growth rate of 17%, and projects non-GAAP operating margin to be between 25.5% and 27.5%.

8 hours ago

Transcript

AppFolio Announces Fourth Quarter and Fiscal Year 2025 Financial Results

APPF

Earnings

Guidance Update

Revenue Acceleration/Inflection

AppFolio reported fourth quarter 2025 revenue of $248 million, a 22% year-over-year increase, and fiscal year 2025 revenue of $951 million, a 20% year-over-year increase.
For Q4 2025, non-GAAP operating income was $62 million, representing 24.9% of revenue, compared to $41 million or 20.2% of revenue in Q4 2024.
Total units under management grew 8% year-over-year to 9.4 million in Q4 2025.
The company provided a fiscal year 2026 outlook, expecting full year revenue between $1,100 million and $1,120 million and a non-GAAP operating margin of 25.5% to 27.5%.

9 hours ago

8-K

AppFolio Reports Strong Financial Performance and Strategic Growth in Q3 2025 Investor Meeting

APPF

Guidance Update

Revenue Acceleration/Inflection

Share Buyback

AppFolio projects $948 million in annual revenue for 2025 (mid-point guidance) and achieved a 24% Non-GAAP operating margin for 2025, a substantial increase from $472 million and (1%) respectively in 2022.
The company expanded its customer base to 21,759 and units under management to 9.1 million YTD 2025, while also seeing a 21% CAGR in ARPU driven by value-added services adoption.
AppFolio highlights its AI-powered innovation, with 96% of customers utilizing AppFolio Realm AI features in 2025, contributing to efficiency gains such as 10.3 hours saved per user each week for Realm-X users.
Strategic capital allocation includes prioritizing organic growth, considering inorganic opportunities, and executing opportunistic share repurchases, with 689K shares repurchased YTD 2025.

Nov 18, 2025, 8:04 PM

8-K

AppFolio Highlights Financial Transformation and Strategic Growth at Investor Update

APPF

Guidance Update

Revenue Acceleration/Inflection

Share Buyback

AppFolio (APPF) has undergone a significant financial transformation, with revenue projected to double from $472 million in 2022 to a midpoint guidance of $948 million in 2025, nearing the $1 billion milestone.
The company has achieved substantial margin expansion, improving its non-GAAP operating margin from negative 1% in 2022 to a projected 24% in 2025.
Operating cash flow per share has seen strong growth, increasing from $0.72 in 2022 to $5.12 in 2024, and $4.87 year-to-date through Q3 2025.
Customer growth and product adoption remain strong, with over 3,300 new customers and 2 million units under management added since 2022, and 96% of customers now utilizing its Realm AI suite.
Capital allocation priorities include organic revenue growth, inorganic growth (M&A), and returning capital to shareholders through share repurchases, with 689,000 shares repurchased year-to-date in 2025 and $250 million remaining authorization.

Nov 18, 2025, 5:00 PM

Transcript

AppFolio Highlights Strong Financial Transformation and Strategic Growth at Investor Update

APPF

Guidance Update

New Projects/Investments

Share Buyback

AppFolio projects $948 million in revenue for 2025, doubling its 2022 revenue of $472 million, and anticipates crossing $1 billion in revenue soon.
The company has significantly improved its financial performance, with non-GAAP operating margin expected to reach 24% (midpoint guidance) in 2025, up from negative 1% in 2022, and operating cash flow increasing from $25 million in 2022 to $177 million year to date in 2025.
AppFolio has grown its customer base by over 3,300 and added over 2 million units under management since 2022, with RPU increasing from $66 to $103.
Strategic focus is on the AppFolio Performance Platform, integrating system of record, action, and growth, built on AI-native architecture, and the company acquired LazyZ in Q4 2024.
Capital allocation priorities include organic growth, inorganic growth (M&A), and returning capital to shareholders, with approximately 689,000 shares repurchased year to date in 2025 and $250 million remaining in repurchase authorization.

Nov 18, 2025, 5:00 PM

Transcript

AppFolio Reports Strong Q3 2025 Results and Raises Full-Year Guidance

APPF

Earnings

Guidance Update

Product Launch

AppFolio reported Q3 2025 revenue of $249 million, representing 21% year-over-year growth, with 9.1 million units and 21,759 customers under management.
The non-GAAP operating margin for Q3 2025 was 23.5%, which included an approximately $13 million accrual for the annual corporate bonus plan; excluding this, the operating margin would have been approximately 29%.
The company introduced its vision for "real estate performance management" and launched new AI-native product enhancements, including Realm-X Performers for automated leasing, maintenance, and resident communications.
AppFolio increased its 2025 annual revenue guidance to $945 million-$950 million and expects non-GAAP operating margin between 23.5% and 24.5%.

Oct 30, 2025, 9:00 PM

Transcript

AppFolio Reports Strong Q3 2025 Results and Raises Full-Year Guidance

APPF

Earnings

Guidance Update

Product Launch

AppFolio reported Q3 2025 revenue of $249 million, marking a 21% year-over-year increase, with a non-GAAP operating margin of 23.5%.
The company's units under management grew 7% year-over-year to 9.1 million, and its customer base increased 7% to 21,759.
AppFolio raised its full-year 2025 revenue guidance to between $945 million and $950 million, representing a midpoint growth rate of 19%, and anticipates a non-GAAP operating margin between 23.5% and 24.5%.
Strategic initiatives include the introduction of "real estate performance management," new AI-native RealmX Performers for automation, and an enhanced resident onboarding experience.
Tim Eaton has been officially welcomed as the new Chief Financial Officer.

Oct 30, 2025, 9:00 PM

Transcript

AppFolio Reports Strong Q3 2025 Results and Raises Full-Year Guidance

APPF

Earnings

Guidance Update

Product Launch

AppFolio reported Q3 2025 revenue of $249 million, a 21% year-over-year increase, with a non-GAAP operating margin of 23.5%.
The company achieved 7% year-over-year growth in both units under management, reaching 9.1 million, and customers, totaling 21,759.
For full-year 2025, AppFolio raised its revenue guidance to $945 million to $950 million, representing a midpoint growth rate of 19%, and expects a non-GAAP operating margin between 23.5% and 24.5%.
Strategic initiatives include the introduction of "real estate performance management" and new AI-native offerings such as RealmX Performers and Resident Onboarding Lift.