Filing Flows › Appfolio (APPF) › Q1 2026
Appfolio (APPF) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 23, 2026
Appfolio (APPF) reported revenue of $262M for the first quarter 2026 (Q1 2026), +20% from a year earlier and +6% from the quarter before. Operating margin was 19.4%, net earnings $42.4M (16.2% of revenue).
Appfolio, Q1 2026: revenue $262M (+20% year over year), operating margin 19.4%, net earnings $42.4M, operating cash flow $34.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $262M | +6% | +20% |
| Operating profit | $50.7M | +16% | +50% |
| Net earnings | $42.4M | +6% | +35% |
| Operating cash flow | $34.3M | -47% | -11% |
| Free cash flow | $34.1M | -46% | -11% |
What changed
Revenue was $262.2M in Q1 2026, up 20% year over year and up 6% from the previous quarter. Value Added Services was the largest line at 77% of revenue. Value Added Services added $36.7M year over year (up 22%), 82% of the total change. Other declined 25%.
Operating profit was $50.7M, a 19.4% margin (up 3.8 points year over year). Of the extra revenue versus Q1 2025, 38% reached operating profit, above the 16% margin then. Total costs grew 15% against revenue growth of 20%. The fastest-growing cost line was Sales & marketing (+21%). Net earnings were $42.4M, up 35% year over year. The effective tax rate was 20.1%.
Operating cash flow was $34.3M (down 11% year over year), 81% of net earnings. Non-cash charges added back $5.0M of depreciation and amortization and $18.0M of share-based compensation. Working capital and other items used $31.1M. Capital expenditures of $231K left free cash flow of $34.1M.
Questions
What was Appfolio's revenue in the first quarter 2026?
Appfolio (APPF) reported revenue of $262M for the first quarter 2026 (Q1 2026), +20% from a year earlier and +6% from the quarter before.
Was Appfolio profitable in the first quarter 2026?
Operating profit was $50.7M (19.4% of revenue) and net earnings $42.4M.
Source: Appfolio 10-Q on SEC EDGAR.