APPF FY 2019 Earnings Report — AppFolio, Inc. Revenue & Financial Results | Market Cap Arena

AppFolio, Inc.APPF

FY 2019 Earnings

Reported March 2, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$256M	—	$190M	—	34.7%
Op. Income	$6M	—	$20M	—	-67.1%
Gross Margin	60.3%	—	61.3%	—	-1.0pp
Net Margin	14.2%	—	10.5%	—	3.7pp
EPS (Diluted)	$1.02	—	$0.56	—	82.1%
Free Cash Flow	$10M	—	$22M	—	-55.2%

Revenue Flow

Item	Amount
REVENUE	$256M
Cost of Revenue	$102M
GROSS PROFIT	$154M
R&D Expenses	$40M
Selling & Marketing	$52M
General & Administrative	$34M
SG&A Expenses	$86M
Other Expenses	$22M
Operating Expenses	$148M
Cost & Expenses	$250M
OPERATING INCOME	$6M
Interest Income	$0
Interest Expense	$2M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$5M
Income Tax Expense	-$31M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$27M
EBIT	$6M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$256M
Cost of Revenue	$102M
GROSS PROFIT	$154M
R&D Expenses	$40M
Selling & Marketing	$52M
General & Administrative	$34M
SG&A Expenses	$86M
Other Expenses	$22M
Operating Expenses	$148M
Cost & Expenses	$250M
OPERATING INCOME	$6M
Interest Income	$0
Interest Expense	$2M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$5M
Income Tax Expense	-$31M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$36M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$36M
D&A	$27M
EBIT	$6M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$36M
Depreciation & Amortization	$26M
Stock-Based Compensation	$8M
Deferred Income Tax	-$31M
Other Non-Cash Items	$32.0K
Change in Working Capital	$194.0K
OPERATING CASH FLOW	$39M
Capital Expenditure	-$29M
Acquisitions (Net)	-$54M
Purchases of Investments	-$25M
Sales/Maturities of Investments	$18M
Other Investing Activities	-$21M
NET CASH FROM INVESTING	-$90M
Net Debt Issuance	-$1M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$7M
FREE CASH FLOW	$10M
Net Change in Cash	-$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$16M
Short-Term Investments	$23M
Net Receivables	$8M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$62M
PP&E (Net)	$43M
Goodwill	$58M
Intangible Assets	$51M
Long-Term Investments	$12M
Tax Assets	$28M
Other Non-Current Assets	$6M
TOTAL NON-CURRENT ASSETS	$198M
TOTAL ASSETS	$260M
Account Payables	$2M
Short-Term Debt	$4M
Deferred Revenue	$5M
Other Current Liabilities	$19M
TOTAL CURRENT LIABILITIES	$47M
Long-Term Debt	$47M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$26M
Other Non-Current Liabilities	$14.0K
TOTAL NON-CURRENT LIABILITIES	$106M
TOTAL LIABILITIES	$128M
Common Stock	$4.0K
Additional Paid-In Capital	$162M
Retained Earnings	-$8M
Treasury Stock	-$22M
Accum. Other Comp. Income	$33.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$132M
Minority Interest	$0
TOTAL EQUITY	$132M
TOTAL LIABILITIES & EQUITY	$260M
Total Debt	$85M
Net Debt	$69M