---
schema_version: "secwatch.filing_event.v1"
accession: "0001433195-24-000052"
form_type: "8-K"
ticker: "APPF"
cik: "0001433195"
company_name: "APPFOLIO INC"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T07:48:20.243201+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# AppFolio Q1 revenue up 38% to $187.4M; swings to GAAP operating income of $34.1M

## Summary
- Revenue $187.4M (+38% YoY); total units under management 8.3M (+11%).
- GAAP operating income $34.1M (18.2% rev) vs loss of $26.5M in Q1 2023.
- Non-GAAP operating income $48.2M (25.7% rev) vs loss of $2.1M.
- Non-GAAP free cash flow $41.0M (21.9% rev) vs negative $0.4M in prior year.
- FY2024 guidance: revenue $766-774M; non-GAAP op margin 23-24%; FCF margin 21-23%.

## SEC filing metadata
- accession: 0001433195-24-000052
- form_type: 8-K
- ticker: APPF
- cik: 0001433195
- company_name: APPFOLIO INC
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1433195/000143319524000052/0001433195-24-000052-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1433195/000143319524000052/appf-20240425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001433195-24-000052
- JSON: https://secwatch.observer/filing/0001433195-24-000052.json
- Plain text: https://secwatch.observer/filing/0001433195-24-000052.txt

## Key facts
- Earnings Releases
  APPFOLIO INC reported first quarter ended March 31, 2024 results: revenue $187.4 million. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2024
  - Revenue: $187.4 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Our deep connection to customers is paving the way for AppFolio’s continued success.” Financial Highlights for First Quarter of 2024 • Revenue grew 38% year-over-year to $187.4 million. • Total units under management grew 11% year-over-year to 8.3 million. • GAAP operating income was $34.1 million, or 18.2% of revenue, compared to an operating loss of ($26.5
  evidence_url: https://www.sec.gov/Archives/edgar/data/1433195/000143319524000052/0001433195-24-000052-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.