APPFOLIO INC
For the period ended Dec 31, 2023. Filed Feb 1, 2024.
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FY2023 · Filed Feb 1, 2024
APPF$229.49-0.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(in thousands, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue | $620,445 | $471,883 | $359,370 |
| Costs and operating expenses: | |||
| Cost of revenue (exclusive of depreciation and amortization)(1) | 238,076 | 191,826 | 143,944 |
| Sales and marketing(1) | 107,602 | 107,398 | 73,200 |
| Research and product development(1) | 151,364 | 111,118 | 65,980 |
| General and administrative(1) | 93,452 | 100,792 | 57,279 |
| Depreciation and amortization | 28,988 | 33,119 | 30,845 |
| Total costs and operating expenses | 619,482 | 544,253 | 371,248 |
| Income (loss) from operations | 963 | (72,370) | (11,878) |
| Other income (loss), net | 3 | 4,469 | 13,111 |
| Interest income, net | 7,031 | 1,184 | 501 |
| Income (loss) before provision for income taxes | 7,997 | (66,717) | 1,734 |
| Provision for income taxes | 5,295 | 1,402 | 706 |
| Net income (loss) | $2,702 | $(68,119) | $1,028 |
| Net income (loss) per common share: | |||
| Basic | $0.08 | $(1.95) | $0.03 |
| Diluted | $0.07 | $(1.95) | $0.03 |
| Weighted average common shares outstanding: | |||
| Basic | 35,629 | 35,010 | 34,578 |
| Diluted | 36,417 | 35,010 | 35,701 |
(1) Includes stock-based compensation expense as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Stock-based compensation expense included in costs and operating expenses: | |||
| Cost of revenue (exclusive of depreciation and amortization) | $3,703 | $2,640 | $2,024 |
| Sales and marketing | 5,983 | 8,681 | 2,329 |
| Research and product development | 20,974 | 16,030 | 5,457 |
| General and administrative | 21,704 | 13,584 | 5,531 |
| Total stock-based compensation expense | $52,364 | $40,935 | $15,341 |
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