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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $281.12M | $262.21M | $248.19M | $249.35M | $235.58M | $217.70M | $203.66M | $205.73M |
| Cost of revenue | $102.60M | $94.98M | $90.54M | $91.48M | $83.83M | $79.50M | $76.19M | $71.63M |
| Gross profit | $178.53M | $167.24M | $157.65M | $157.88M | $151.75M | $138.20M | $127.48M | $134.10M |
| Gross margin | 63.5% | 63.8% | 63.5% | 63.3% | 64.4% | 63.5% | 62.6% | 65.2% |
| Research and development | $51.00M | $49.63M | $45.95M | $54.04M | $46.67M | $43.76M | $42.30M | $40.66M |
| Selling, general and administrative | $69.57M | $61.84M | $63.02M | $63.36M | $58.71M | $54.41M | $56.89M | $46.55M |
| Operating expenses | $125.55M | $116.49M | $114.08M | $122.83M | $111.24M | $104.42M | $104.52M | $91.53M |
| Operating income | $52.98M | $50.75M | $43.58M | $35.05M | $40.51M | $33.78M | $22.96M | $42.57M |
| Operating margin | 18.8% | 19.4% | 17.6% | 14.1% | 17.2% | 15.5% | 11.3% | 20.7% |
| EBITDA | $61.26M | $58.94M | $51.61M | $43.25M | $49.06M | $42.76M | $30.81M | $49.38M |
| Interest income | $1.44M | $1.78M | $2.05M | $1.69M | $1.47M | $2.95M | $3.50M | $4.01M |
| Income before taxes | $54.41M | $53.10M | $45.62M | $36.73M | $41.97M | $36.79M | $27.15M | $46.58M |
| Income taxes | $12.87M | $10.68M | $5.71M | $3.09M | $5.99M | $5.41M | −$75.58M | $13.58M |
| Net income | $41.54M | $42.42M | $39.91M | $33.65M | $35.98M | $31.38M | $102.73M | $33.01M |
| Net margin | 14.8% | 16.2% | 16.1% | 13.5% | 15.3% | 14.4% | 50.4% | 16.0% |
| EPS, basic | $1.17 | $1.19 | $1.11 | $0.94 | $1.00 | $0.86 | $2.82 | $0.91 |
| EPS, diluted | $1.17 | $1.18 | $1.10 | $0.93 | $0.99 | $0.86 | $2.78 | $0.90 |
| Diluted shares | 35.46M | 35.81M | 36.20M | 36.26M | 36.20M | 36.65M | 36.96M | 36.76M |
Figures describe AppFolio shares, not any token. As of Jul 23, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.