APPFOLIO INC
For the period ended Dec 31, 2024. Filed Feb 6, 2025.
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FY2024 · Filed Feb 6, 2025
APPF$229.49-0.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(in thousands, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue | $794,202 | $620,445 | $471,883 |
| Costs and operating expenses: | |||
| Cost of revenue (exclusive of depreciation and amortization)(1) | 282,067 | 238,076 | 191,826 |
| Sales and marketing(1) | 110,597 | 107,602 | 107,398 |
| Research and product development(1) | 160,375 | 151,364 | 111,118 |
| General and administrative(1) | 85,974 | 93,452 | 100,792 |
| Depreciation and amortization | 19,545 | 28,988 | 33,119 |
| Total costs and operating expenses | 658,558 | 619,482 | 544,253 |
| Income (loss) from operations | 135,644 | 963 | (72,370) |
| Other income (loss), net | 697 | 3 | 4,469 |
| Interest income, net | 13,981 | 7,031 | 1,184 |
| Income (loss) before provision for income taxes | 150,322 | 7,997 | (66,717) |
| (Benefit from) provision for income taxes | (53,746) | 5,295 | 1,402 |
| Net income (loss) | $204,068 | $2,702 | $(68,119) |
| Net income (loss) per common share: | |||
| Basic | $5.63 | $0.08 | $(1.95) |
| Diluted | $5.55 | $0.07 | $(1.95) |
| Weighted average common shares outstanding: | |||
| Basic | 36,252 | 35,629 | 35,010 |
| Diluted | 36,782 | 36,417 | 35,010 |
(1) Includes stock-based compensation expense as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Stock-based compensation expense included in costs and operating expenses: | |||
| Cost of revenue (exclusive of depreciation and amortization) | $4,522 | $3,703 | $2,640 |
| Sales and marketing | 8,030 | 5,983 | 8,681 |
| Research and product development | 25,414 | 20,974 | 16,030 |
| General and administrative | 22,361 | 21,704 | 13,584 |
| Total stock-based compensation expense | $60,327 | $52,364 | $40,935 |
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