Filing Flows › Appfolio (APPF) › Q2 2026 › vs Q1 2026
Appfolio (APPF) Q2 2026 vs Q1 2026 (quarter over quarter)
Appfolio's revenue rose $18.9M (+7%) from $262M in Q1 2026 to $281M in Q2 2026. The biggest changes: Value Added Services +$18.1M (+9%); Subscription Services +$1.6M (+3%); Other −$772K (-29%). Operating margin 18.8% against 19.4% (-0.5 pts).
Appfolio, Q2 2026: revenue $281M (+19% year over year), operating margin 18.8%, net earnings $41.5M, operating cash flow $87.6M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.8% | 19.4% | -0.5 pts |
| Net margin | 14.8% | 16.2% | -1.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Value Added Services | $219M | $201M | $18.1M | +9% |
| Subscription Services | $59.8M | $58.2M | $1.6M | +3% |
| Other | $1.9M | $2.6M | −$772K | -29% |
| Revenue | $281M | $262M | $18.9M | +7% |
| Other income, net | $1.4M | $2.4M | −$919K | -39% |
| Operating profit | $53.0M | $50.7M | $2.2M | +4% |
| Costs & expenses | $228M | $211M | $16.7M | +8% |
| Pre-tax earnings | $54.4M | $53.1M | $1.3M | +2% |
| Cost of revenue | $103M | $95.0M | $7.6M | +8% |
| Research & development | $51.0M | $49.6M | $1.4M | +3% |
| Sales & marketing | $43.9M | $37.5M | $6.4M | +17% |
| General & admin | $25.6M | $24.3M | $1.3M | +5% |
| Other operating costs | $5.0M | $5.0M | −$35K | -0.7% |
| Net earnings | $41.5M | $42.4M | −$880K | -2% |
| Income tax | $12.9M | $10.7M | $2.2M | +21% |
| Depreciation & amortization | $5.0M | $5.0M | −$35K | -0.7% |
| Share-based compensation | $20.5M | $18.0M | $2.5M | +14% |
| Working capital & other | $20.6M | −$31.1M | $51.7M | — |
| Operating cash flow | $87.6M | $34.3M | $53.3M | +155% |
Questions
How much did Appfolio's revenue grow quarter over quarter in Q2 2026?
Appfolio's revenue rose $18.9M (+7%) from $262M in Q1 2026 to $281M in Q2 2026.
What drove Appfolio's revenue change in Q2 2026?
Value Added Services +$18.1M (+9%); Subscription Services +$1.6M (+3%); Other −$772K (-29%).