Filing Flows

Filing Flows › Companies › Appfolio › Cash flow

Appfolio cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$96.8M in Q3 2026 · $282M over twelve months

Operating cash flow$96.8M
Capital spending−$14K
Free cash flow+$96.8M
Cash / net income2.1×
Cash conversion cycle11 days

Analysis

In Q3 2026, Appfolio generated $96.8M of operating cash flow and spent $14K on capital projects, leaving free cash flow of $96.8M. That is $12.1M more than in Q3 2025 ($84.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $284M; the largest uses were buybacks ($129M), taxes on employees’ shares ($33.5M), capital spending ($1.6M); besides operations, cash came from other investing ($61.0M), shares issued ($2.0M); the cash balance rose by $182M.

Operating cash flow was $96.8M against net income of $46.0M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$20.6M, other liabilities +$18.1M, deferred taxes +$10.6M.

Its cash conversion cycle was 11 days (receivables 16 + inventory 0 − payables 5).

Free cash flow

Appfolio: free cash flow by quarterAppfolio: free cash flow by quarter$36.4MQ4 2024$38.2MQ1 2025$52.4MQ2 2025$84.7MQ3 2025$63.7MQ4 2025$34.1MQ1 2026$87.6MQ2 2026$96.8MQ3 2026
Operating cash flow less capital spending.
Appfolio: operating cash flow against capital spendingAppfolio: operating cash flow against capital spendingOperating cash flowCapital spending$36.6M$195KQ4 2024$38.5M$230KQ1 2025$52.6M$275KQ2 2025$86.0M$1.3MQ3 2025$65.0M$1.3MQ4 2025$34.3M$231KQ1 2026$87.6M−$3KQ2 2026$96.8M$14KQ3 2026
Latest (Q3 2026): Operating cash flow $96.8M, Capital spending $14K.

Capital allocation, year by year

Appfolio: where the cash came from (up) and went (down), by fiscal yearAppfolio: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $35.4MFY2021: Shares issued $2.6MFY2021: Asset sales $402KFY2021: Capital spending −$8.1M$38.4MFY2021FY2022: Operating cash flow $25.4MFY2022: Shares issued $4.5MFY2022: Asset sales $5.1MFY2022: Capital spending −$6.5M$35.0MFY2022FY2023: Operating cash flow $60.3MFY2023: Shares issued $2.6MFY2023: Capital spending −$9.0M$62.9MFY2023FY2024: Operating cash flow $188MFY2024: Shares issued $3.9MFY2024: Capital spending −$2.0MFY2024: Acquisitions −$77.4M$192MFY2024FY2025: Operating cash flow $242MFY2025: Shares issued $134KFY2025: Capital spending −$3.2MFY2025: Acquisitions −$906KFY2025: Buybacks −$146M$242MFY2025
Over these 5 years operating cash flow totalled $551M; the largest uses were buybacks ($146M) and acquisitions ($78.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$259M
Debtnone
Net cash$259M

Appfolio funds itself: free cash flow was $282M over the last twelve months, with $259M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Appfolio: sources (+) and uses (−) of cash, Q3 2026Appfolio: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$96.8MOther investing−$45.3MCash drawn (+) / kept (−)−$41.1MTaxes on employees’ shares−$7.2MBuybacks−$4.2MShares issued$1.1MCapital spending−$14K
Appfolio: sources (+) and uses (−) of cash, TTM to Q3 2026Appfolio: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$284MCash drawn (+) / kept (−)−$182MBuybacks−$129MOther investing$61.0MTaxes on employees’ shares−$33.5MShares issued$2.0MCapital spending−$1.6MOther financing$134K

From profit to cash

Appfolio: net income to operating cash flow, Q3 2026Appfolio: net income to operating cash flow, Q3 2026Net income$46.0MDepreciation & amortization$5.0MStock-based pay$20.6MDeferred taxes$10.6MOther non-cash$3KReceivables−$2.1MPayables$881KPrepaid and other assets$160KOther liabilities$18.1MOperating cash flow$96.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202616—511
Q2 202615—412
Q1 202614—410
Q4 202513—49
Q3 202512—49
Q2 202512—47
Q1 202511—47
Q4 202411—210

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$96.8M−$14K—−$4.2M$1.1M−$41.1M$96.8M
Q2 2026$87.6M$3K———−$70.0M$87.6M
Q1 2026$34.3M−$231K—−$125M$998K−$40.4M$34.1M
Q4 2025$65.0M−$1.3M——$4K−$30.9M$63.7M
Q3 2025$86.0M−$1.3M——$2K−$2.6M$84.7M
Q2 2025$52.6M−$275K—−$50.0M$117K−$16.5M$52.4M
Q1 2025$38.5M−$230K−$906K−$95.8M$11K−$14.4M$38.2M
Q4 2024$36.6M−$195K−$77.4M—$11K$19.9M$36.4M

Appfolio: income statement and cash flow

Appfolio, Q3 2026: revenue $296M (+19% year over year), operating margin 19.4%. The chart follows the revenue to costs, profit and cash.

Appfolio: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.