Filing Flows › Appfolio (APPF) › Q3 2026 › vs Q3 2025
Appfolio (APPF) Q3 2026 vs Q3 2025 (year over year)
Appfolio's revenue rose $46.3M (+19%) from $249M in Q3 2025 to $296M in Q3 2026. The biggest changes: Value Added Services +$39.9M (+21%); Subscription Services +$7.8M (+14%); Other −$1.3M (-37%). Operating margin 19.4% against 14.1% (+5.4 pts).
Appfolio, Q3 2026: revenue $296M (+19% year over year), operating margin 19.4%, net earnings $46.0M, operating cash flow $96.8M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 19.4% | 14.1% | +5.4 pts |
| Net margin | 15.5% | 13.5% | +2.1 pts |
| Free cash flow margin | 32.7% | 34.0% | -1.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Value Added Services | $232M | $192M | $39.9M | +21% |
| Subscription Services | $61.5M | $53.8M | $7.8M | +14% |
| Other | $2.2M | $3.5M | −$1.3M | -37% |
| Revenue | $296M | $249M | $46.3M | +19% |
| Other income, net | $2.2M | $1.7M | $517K | +31% |
| Operating profit | $57.4M | $35.0M | $22.4M | +64% |
| Costs & expenses | $238M | $214M | $24.0M | +11% |
| Pre-tax earnings | $59.6M | $36.7M | $22.9M | +62% |
| Cost of revenue | $106M | $91.5M | $14.1M | +15% |
| Research & development | $53.1M | $54.0M | −$909K | -2% |
| Sales & marketing | $48.6M | $35.9M | $12.7M | +35% |
| General & admin | $26.0M | $27.4M | −$1.5M | -5% |
| Other operating costs | $5.0M | $5.4M | −$440K | -8% |
| Net earnings | $46.0M | $33.6M | $12.3M | +37% |
| Income tax | $13.6M | $3.1M | $10.6M | +342% |
| Depreciation & amortization | $5.0M | $5.4M | −$440K | -8% |
| Share-based compensation | $20.6M | $20.8M | −$193K | -0.9% |
| Working capital & other | $25.2M | $26.1M | −$940K | -4% |
| Operating cash flow | $96.8M | $86.0M | $10.8M | +13% |
| Free cash flow (OCF − capex) | $96.8M | $84.7M | $12.1M | +14% |
| Capital expenditures | $14K | $1.3M | −$1.3M | -99% |
Questions
How much did Appfolio's revenue grow year over year in Q3 2026?
Appfolio's revenue rose $46.3M (+19%) from $249M in Q3 2025 to $296M in Q3 2026.
What drove Appfolio's revenue change in Q3 2026?
Value Added Services +$39.9M (+21%); Subscription Services +$7.8M (+14%); Other −$1.3M (-37%).