Filing Flows › Appfolio (APPF) › Q1 2025
Appfolio (APPF) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Appfolio (APPF) reported revenue of $218M for the first quarter 2025 (Q1 2025), +16% from a year earlier and +7% from the quarter before. Operating margin was 15.5%, net earnings $31.4M (14.4% of revenue).
Appfolio, Q1 2025: revenue $218M (+16% year over year), operating margin 15.5%, net earnings $31.4M, operating cash flow $38.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $218M | +7% | +16% |
| Operating profit | $33.8M | +47% | -0.9% |
| Net earnings | $31.4M | -69% | -19% |
| Operating cash flow | $38.5M | +5% | -10% |
| Free cash flow | $38.2M | +5% | -8% |
What changed
Revenue was $217.7M in Q1 2025, up 16% year over year and up 7% from the previous quarter. Value Added Services was the largest line at 76% of revenue. Value Added Services added $22.4M year over year (up 16%), 74% of the total change.
Operating profit was $33.8M, a 15.5% margin (down 2.7 points year over year). Operating profit fell $307K even though revenue rose $30.3M versus a year earlier, so costs grew faster than sales. Total costs grew 20% against revenue growth of 16%. The fastest-growing cost line was Sales & marketing (+27%). Net earnings were $31.4M, down 19% year over year. The effective tax rate was 14.7%.
Operating cash flow was $38.5M (down 10% year over year), 123% of net earnings. Non-cash charges added back $6.3M of depreciation and amortization and $16.4M of share-based compensation. Working capital and other items used $15.5M. Capital expenditures of $230K left free cash flow of $38.2M.
Questions
What was Appfolio's revenue in the first quarter 2025?
Appfolio (APPF) reported revenue of $218M for the first quarter 2025 (Q1 2025), +16% from a year earlier and +7% from the quarter before.
Was Appfolio profitable in the first quarter 2025?
Operating profit was $33.8M (15.5% of revenue) and net earnings $31.4M.
Source: Appfolio 10-Q on SEC EDGAR.