Filing Flows › Appfolio (APPF) › Q2 2025
Appfolio (APPF) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Appfolio (APPF) reported revenue of $236M for the second quarter 2025 (Q2 2025), +19% from a year earlier and +8% from the quarter before. Operating margin was 17.2%, net earnings $36.0M (15.3% of revenue).
Appfolio, Q2 2025: revenue $236M (+19% year over year), operating margin 17.2%, net earnings $36.0M, operating cash flow $52.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $236M | +8% | +19% |
| Operating profit | $40.5M | +20% | +12% |
| Net earnings | $36.0M | +15% | +21% |
| Operating cash flow | $52.6M | +37% | +3% |
| Free cash flow | $52.4M | +37% | +3% |
What changed
Revenue was $235.6M in Q2 2025, up 19% year over year and up 8% from the previous quarter. Value Added Services was the largest line at 76% of revenue. Value Added Services added $28.5M year over year (up 19%), 75% of the total change.
Operating profit was $40.5M, a 17.2% margin (down 1.1 points year over year). Of the extra revenue versus a year earlier, 12% reached operating profit, below the 18% margin then. Total costs grew 21% against revenue growth of 19%. The fastest-growing cost line was Sales & marketing (+35%). Net earnings were $36.0M, up 21% year over year. The effective tax rate was 14.3%.
Operating cash flow was $52.6M (up 3% year over year), 146% of net earnings. Non-cash charges added back $5.8M of depreciation and amortization and $18.3M of share-based compensation. Working capital and other items used $7.5M. Capital expenditures of $275K left free cash flow of $52.4M.
Questions
What was Appfolio's revenue in the second quarter 2025?
Appfolio (APPF) reported revenue of $236M for the second quarter 2025 (Q2 2025), +19% from a year earlier and +8% from the quarter before.
Was Appfolio profitable in the second quarter 2025?
Operating profit was $40.5M (17.2% of revenue) and net earnings $36.0M.
Source: Appfolio 10-Q on SEC EDGAR.