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APPF Appfolio

AppFolio provides innovative software, services and data analytics to the real estate industry. ITs industry-specific, cloud-based business management solutions are designed to enable customers to digitally transform their businesses, address critical business operations and enable exceptional customer service. Today its core solutions include AppFolio Property Manager, AppFolio Property Manager PLUS, and AppFolio Investment Management. In addition, the company offers a variety of Value+ services that are designed to enhance, automate and streamline essential processes and workflows for customers. AppFolio was founded in 2006 and is headquartered in Santa Barbara, CA.

Company profile

Ticker
APPF
Exchange
CEO
Jason Randall
Employees
Location
Fiscal year end
SEC CIK
Subsidiaries
AppFolio Utility Management, Inc. • AppFolio Investment Management, Inc. • Dynasty Marketplace, Inc. • AppFolio Insurance Services, Inc. • RentLinx LLC • Terra Mar Insurance Company, Inc. ...

APPF stock data

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Calendar

9 Aug 21
16 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Appfolio earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 49.05M 49.05M 49.05M 49.05M 49.05M 49.05M
Cash burn (monthly) (positive/no burn) 392.08K (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 1.39M n/a n/a n/a n/a
Cash remaining n/a 47.65M n/a n/a n/a n/a
Runway (months of cash) n/a 121.5 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
24 Sep 21 Rauth William R Iii Class A Common Stock Conversion Acquire C No No 0 72,859 0 72,859
24 Sep 21 Rauth William R Iii Class B Common Stock Class A Common Stock Conversion Dispose C No No 0 72,859 0 0
14 Sep 21 Jonathan Walker Class A Common Stock Gift Dispose G Yes No 0 9,599 0 25,274
14 Sep 21 Jonathan Walker Class A Common Stock Sell Dispose S Yes No 122.71 801 98.29K 34,873
14 Sep 21 Jonathan Walker Class A Common Stock Conversion Acquire C Yes No 0 20,000 0 35,674
14 Sep 21 Jonathan Walker Class B Common Stock Class A Common Stock Conversion Dispose C Yes No 0 20,000 0 571,802
14 Sep 21 Jonathan Walker Class B Common Stock Class A Common Stock Option exercise Acquire M Yes No 0 20,000 0 591,802
14 Sep 21 Jonathan Walker Employee Stock Option [object Object] Option exercise Dispose M Yes No 4.92 20,000 98.4K 54,425
8 Sep 21 Jonathan Walker Class A Common Stock Sell Dispose S No No 121.4 2,500 303.5K 0
8 Sep 21 Jonathan Walker Class A Common Stock Conversion Acquire C No No 0 2,500 0 2,500

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

85.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 162 158 +2.5%
Opened positions 24 17 +41.2%
Closed positions 20 43 -53.5%
Increased positions 56 55 +1.8%
Reduced positions 52 51 +2.0%
13F shares
Current Prev Q Change
Total value 2.33B 2.59B -10.0%
Total shares 16.14M 15.82M +2.0%
Total puts 25K 41.1K -39.2%
Total calls 66.6K 63.7K +4.6%
Total put/call ratio 0.4 0.6 -41.8%
Largest owners
Shares Value Change
Brown Capital Management 3.4M $479.47M +18.7%
Ashe Capital Management 1.98M $278.95M +0.0%
Vanguard 1.56M $220.31M +0.6%
BLK Blackrock 1.22M $172.2M +1.5%
Capital Research Global Investors 1.02M $144.14M -0.5%
MS Morgan Stanley 755.93K $106.74M -38.7%
Dynamo Internacional Gestao De Recursos Ltda. 569.93K $80.47M +21.2%
New York State Common Retirement Fund 531.3K $75.02M +29.2%
Gilder Gagnon Howe & Co 402.79K $56.88M -0.8%
STT State Street 389.57K $55.01M +10.6%
Largest transactions
Shares Bought/sold Change
Brown Capital Management 3.4M +535.97K +18.7%
MS Morgan Stanley 755.93K -477.04K -38.7%
Oberndorf William E 50K -361.53K -87.9%
Long Walk Management 132.54K +132.54K NEW
New York State Common Retirement Fund 531.3K +120.2K +29.2%
Dynamo Internacional Gestao De Recursos Ltda. 569.93K +99.84K +21.2%
JPM JPMorgan Chase & Co. 86.37K +68.17K +374.7%
Capital International Investors 0 -54K EXIT
Luminus Management 50K +50K NEW
Castle Hook Partners 50K +50K NEW

Financial report summary

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Competition
CostarSpok
Risks
  • Health epidemics, including the COVID-19 pandemic, have had, and could in the future have, a material adverse impact on our operations, the operations of our customers and other business partners, and the markets and communities in which we and our customers and partners operate.
  • We manage our business to achieve long-term growth, which may not be consistent with the short-term expectations of some investors.
  • Failure to manage our growth effectively could adversely affect our operating results and preclude our achievement of our strategic plans.
  • We expect to make substantial investments across our organization to grow our business and may not sustain profitability.
  • Our quarterly results may fluctuate significantly and period-to-period comparisons of our results may not be meaningful.
  • Our estimates of market opportunity are subject to significant uncertainty and, even if the markets in which we compete meet or exceed our size estimates, we could fail to increase our revenue or market share.
  • Our acquisition of other companies or technologies would subject us to integration risks, as well as risks related to the financing of such acquisitions.
  • Service outages and other infrastructure performance problems could harm our reputation and adversely affect our ability to attract and retain customers.
  • Errors, defects or other disruptions in our software solutions could harm our reputation, cause us to lose customers, and result in significant expenditures to correct the problem.
  • Privacy and data security laws and regulations could impose additional costs and reduce demand for our software solutions.
  • We depend on highly skilled personnel and, if we are unable to retain or hire additional qualified personnel or if we lose key members of our management team, we may not be able to achieve our strategic objectives and our business may be harmed.
  • Our corporate culture has contributed to our success and, if we cannot continue to foster this culture as we grow, we could lose the passion, creativity, teamwork, focus and innovation fostered by our culture.
  • We face risks in our electronic payment services business that could adversely affect our business and/or operating results.
  • Evolution and expansion of our electronic payment services may subject us to additional risks and regulatory requirements.
  • We face risks in our tenant screening services business that could adversely affect our business and/or operating results.
  • We use third-party service providers for electronic payment and tenant screening services, and their failure to fulfill their contractual obligations could harm our reputation, disrupt our business and adversely affect our operating results.
  • The vertical market in which we participate is intensely competitive and our business could be harmed if we do not compete effectively.
  • Business management software for small and medium-sized businesses ("SMBs") is an evolving market. If the market is smaller than estimated or the transition to or between cloud-based business management software slows, our operating results could be adversely affected.
  • If we are unable to increase sales of our software solutions to larger customers while mitigating the risks associated with serving such customers, our business and operating results may suffer.
  • If we are unable to introduce successful enhancements, including new and innovative core functionality and/or Value+ services, or new products for adjacent markets or additional verticals, our operating results could be adversely affected.
  • Our business depends substantially on existing customers renewing their subscriptions with us and expanding their use of our Value+ services, and a decline in either could adversely impact our operating results.
  • All of our revenues are presently generated by sales to customers and users in the real estate vertical, and factors that adversely affect that vertical, or our customers or users within it, could also adversely affect us.
  • Our growth depends in part on our strategic relationships with third parties and, if we are unsuccessful in establishing or maintaining these relationships, our ability to compete in our targeted markets or grow our revenue could be impaired.
  • We depend on cloud computing platforms and computing infrastructure operated by third parties and any disruption in these operations could adversely affect our operating results.
  • Our platform must integrate with a variety of devices, operating systems and browsers that are developed by others, and if we are unable to ensure that our software solutions interoperate with such devices, operating systems and browsers, our software solutions may become less competitive and our operating results may be harmed.
  • If our property management customers stop requiring residents to provide proof of legal liability to landlord insurance, if insurance premiums decline or if insureds experience greater than expected losses, our operating results could be harmed.
  • Our insurance business is subject to state governmental regulation, which could limit the growth of our insurance business and impose additional costs on us.
  • If we are unable to deliver effective customer service and/or effectively maintain and promote our brands, it could harm our relationships with our existing customers and adversely affect our ability to attract new customers and our operating results.
  • Failure to protect our intellectual property rights could impair our ability to protect our proprietary technology and our brands, which could harm our business.
  • We may be sued by third parties for alleged infringement of their proprietary rights, which could cause us to incur significant expenses and require us to pay substantial damages.
  • Our software solutions contain both third-party and open source software, which may pose risks to our proprietary source code and/or introduce security vulnerabilities, and could have a negative impact on our business and operating results.
  • There are risks associated with potential future indebtedness that may adversely affect our financial condition and future financing agreements may contain restrictive operating and financial covenants.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • Our business may be adversely affected by developments in the global economy, including if we seek to expand our sales to customers outside of the United States.
  • The market price of our Class A common stock may be volatile or may decline regardless of our operating performance, which could result in substantial losses for our stockholders.
  • The dual class structure of our common stock concentrates voting control with a limited number of stockholders, including our executive officers, directors and principal stockholders, effectively limiting your ability to influence corporate matters.
  • We cannot predict the impact that our capital structure may have on our stock price.
  • Future sales of shares of our Class A common stock, or the perception that these sales could occur, could depress the market price of our Class A common stock.
  • We do not expect to declare any dividends in the foreseeable future and may repurchase stock in accordance with our Share Repurchase Program.
  • Anti-takeover provisions contained in our amended and restated certificate of incorporation and amended and restated bylaws, as well as provisions of Delaware law, could impair a takeover attempt.
  • Government regulations and laws are continuously evolving and unfavorable changes could adversely affect our operating results, subject us to litigation or governmental investigation, or otherwise harm our business.
Management Discussion
  • ITEM 7.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • We provide innovative software, services and data analytics to customers in the real estate industry. Our industry-specific, cloud-based solutions are used primarily by property managers, and also by numerous other constituencies in the property management business ecosystem. These other constituencies include property owners, rental prospects, tenants and service providers, whom we refer to collectively as "users". Although specific functionality varies by product, our core solutions are designed to enable our customers to digitally transform their businesses, address critical business operations and enable exceptional customer service. In addition to our core solutions, we offer an array of optional, but often business-critical, Value+ services that are designed to enhance, automate and streamline processes and workflows that are essential to our customers' businesses. Our Value+ services are generally available on an as-needed basis and enable our customers to adapt our offerings to their specific operational requirements.
  • Our property management solutions and services provides our customers with a system of record to automate essential business processes, a system of engagement to enhance business interactions between our customers and a variety of users and a system of intelligence designed to leverage data to predict and optimize business workflows to increase efficiency across our customers' businesses. Our mobile-optimized software solutions are designed for use across multiple devices and operating systems. Our software solutions are offered as a service, are hosted using a modern cloud-based architecture, and in part, use artificial intelligence technologies. This architecture leads to rich data sets that have a consistent schema across our customer and user base and enables us to deploy data-powered products and services for our customers and users.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
Coll freshman Good
New words: CFO, Ida, Kane, paper, projected, resignation, resigned, successor, twelve
Removed: defended, expanded, investigatory, loan, penalty, RentLinx, resolving, supporting, vigorously