Filing Flows › Appfolio (APPF) › Q2 2026 › vs Q2 2025
Appfolio (APPF) Q2 2026 vs Q2 2025 (year over year)
Appfolio's revenue rose $45.5M (+19%) from $236M in Q2 2025 to $281M in Q2 2026. The biggest changes: Value Added Services +$39.3M (+22%); Subscription Services +$7.3M (+14%); Other −$1.1M (-37%). Operating margin 18.8% against 17.2% (+1.6 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 18.8% | 17.2% | +1.6 pts |
| Net margin | 14.8% | 15.3% | -0.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Value Added Services | $219M | $180M | $39.3M | +22% |
| Subscription Services | $59.8M | $52.5M | $7.3M | +14% |
| Other | $1.9M | $3.0M | −$1.1M | -37% |
| Revenue | $281M | $236M | $45.5M | +19% |
| Other income, net | $1.4M | $1.5M | −$21K | -1% |
| Operating profit | $53.0M | $40.5M | $12.5M | +31% |
| Costs & expenses | $228M | $195M | $33.1M | +17% |
| Pre-tax earnings | $54.4M | $42.0M | $12.4M | +30% |
| Cost of revenue | $103M | $83.8M | $18.8M | +22% |
| Research & development | $51.0M | $46.7M | $4.3M | +9% |
| Sales & marketing | $43.9M | $36.8M | $7.2M | +19% |
| General & admin | $25.6M | $21.9M | $3.7M | +17% |
| Other operating costs | $5.0M | $5.8M | −$865K | -15% |
| Net earnings | $41.5M | $36.0M | $5.6M | +15% |
| Income tax | $12.9M | $6.0M | $6.9M | +115% |
| Depreciation & amortization | $5.0M | $5.8M | −$865K | -15% |
| Share-based compensation | $20.5M | $18.3M | $2.2M | +12% |
| Working capital & other | $20.6M | −$7.5M | $28.1M | — |
| Operating cash flow | $87.6M | $52.6M | $35.0M | +66% |
Questions
How much did Appfolio's revenue grow year over year in Q2 2026?
Appfolio's revenue rose $45.5M (+19%) from $236M in Q2 2025 to $281M in Q2 2026.
What drove Appfolio's revenue change in Q2 2026?
Value Added Services +$39.3M (+22%); Subscription Services +$7.3M (+14%); Other −$1.1M (-37%).