AppFolio Inc. Files 2024 Annual Report

Ticker: APPF · Form: 10-K · Filed: Feb 6, 2025 · CIK: 1433195

Appfolio INC 10-K Filing Summary
FieldDetail
CompanyAppfolio INC (APPF)
Form Type10-K
Filed DateFeb 6, 2025
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$0.0001
Sentimentneutral

Sentiment: neutral

Topics: annual-report, sec-filing

Related Tickers: APPF

TL;DR

AppFolio filed its 2024 10-K. APPF stock info inside.

AI Summary

AppFolio Inc. filed its annual report for the fiscal year ended December 31, 2024. The company, incorporated in Delaware with its principal executive offices at 70 Castilian Drive, Santa Barbara, California, is registered with the SEC under file number 001-37468. Its Class A common stock trades on The NASDAQ Stock Market LLC under the symbol APPF.

Why It Matters

This filing provides investors with a comprehensive overview of AppFolio's financial performance and business operations for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard annual report filing and does not contain new material risks.

Key Players & Entities

FAQ

What is the trading symbol for AppFolio Inc.'s Class A common stock?

The trading symbol for AppFolio Inc.'s Class A common stock is APPF.

On which exchange is AppFolio Inc.'s Class A common stock registered?

AppFolio Inc.'s Class A common stock is registered on The NASDAQ Stock Market LLC.

What is the fiscal year end date for this 10-K filing?

The fiscal year ended on December 31, 2024.

In which state was AppFolio Inc. incorporated?

AppFolio Inc. was incorporated in Delaware.

What is the Commission File Number for AppFolio Inc.?

The Commission File Number for AppFolio Inc. is 001-37468.

Filing Stats: 4,265 words · 17 min read · ~14 pages · Grade level 15.7 · Accepted 2025-02-06 16:27:00

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 8

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 20

Cybersecurity

Item 1C. Cybersecurity 20

Properties

Item 2. Properties 21

Legal Proceedings

Item 3. Legal Proceedings 21

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 21 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 21

[RESERVED]

Item 6. [RESERVED] 22

Management's Discussion and Analysis of Financial Condition and Results of Operation

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation 22

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 30

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 31

Changes in and Disagreements With Accountants on Accounting and Financial Disclosures

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosures 60

Controls and Procedures

Item 9A. Controls and Procedures 61

Other Information

Item 9B. Other Information 61

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 62 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 62

Executive Compensation

Item 11. Executive Compensation 62

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 62

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 62

Principal Account ant Fees and Services

Item 14. Principal Account ant Fees and Services 62 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 63

Signatures

Signatures 67 PART I

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (this "Annual Report") contains forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), which statements involve substantial risks and uncertainties. The forward-looking statements made in this Annual Report are intended to qualify for the protection of the safe harbor provided by the PSLRA and are based primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, operating results, cash flows and/or prospects. Forward-looking statements include all statements that are not statements of historical fact. Forward-looking statements can also be identified by words such as "may," "will," "should," "might," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "future," or "continue," or the negative of these words or other similar terms or expressions. Examples of forward-looking statements include, among others, statements regarding changes in the competitive environment, responding to customer needs, research and product development plans, future products and services, growth in the size of our business and number of customers, strategic plans and objectives, business forecasts and plans, our future or assumed financial condition, results of operations and liquidity, trends affecting our business and industry, capital needs and financing plans, capital resource allocation plans, share repurchase plans, and commitments and contingencies, including with respect to the outcome of legal proceedings or regulatory matters. We cannot assure you that the results, events, and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances

BUSINESS

ITEM 1. BUSINESS Unless otherwise stated in this Annual Report, references to "AppFolio," "we," "us," and "our" refer to AppFolio, Inc. and its consolidated subsidiaries. Overview Founded in 2006, AppFolio is a technology leader powering the future of the real estate industry. We provide a cloud-based platform on which our customers operate their businesses. We help our customers navigate an increasingly interconnected and growing network of stakeholders in their business ecosystems, including property managers, property investors, potential residents, residents, and vendors. We also provide key functionality related to critical transactions across the real estate lifecycle, including screening potential residents, sending and receiving payments, and providing insurance-related risk mitigation services. Our services enable our customers to connect communities, increase operational efficiency, deliver exceptional customer experiences, and improve financial and operational performance. We believe our customer-centric culture leads to long-term customer retention and, ultimately, our long-term success. 1 Our Platform Our mission is to build the platform where the real estate industry comes to do business. Our platform is designed to deliver value to industry segments throughout the property management ecosystem. It is optimized for use across multiple devices and operating systems, and includes an intuitive interface and streamlined workflows. Our platform is (i) a system of record to centralize and automate essential business processes, (ii) a system of engagement to enhance business interactions between our customers and their network of industry segment stakeholders, and (iii) a system of performance to leverage data to predict and optimize business workflows. Our platform is enhanced with AppFolio Realm, a suite of AI-powered tools that assist with leasing, maintenance, accounting, and other business critical tasks. AppFolio Realm includes generative AI to

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