AppFolio revenue grows 19%, company raises full-year outlook

AppFolio kept up its steady growth in the third quarter and raised its revenue forecast for the year.

Revenue climbed 19% to $296 million, according to its earnings release filed with an 8-K on Thursday. Total units under management grew 8% to 9.8 million.

Profitability improved faster than sales. GAAP operating income rose 64% to $57 million, or 19.4% of revenue, from $35 million, and non-GAAP operating income increased 38% to $81 million, or 27.3% of revenue.

Higher guidance

AppFolio now expects 2026 revenue of $1.122 billion to $1.127 billion and a non-GAAP operating margin of 26.5% to 27.5%.

"Q3 reflects the strength and durability of our business, as new and existing customers continue to adopt our performance platform," Chairman and CEO Shane Trigg said in the release.

Net cash from operating activities was $97 million, up from $86 million a year earlier.

By the numbers

• Revenue: $296 million, up 19%
• Units under management: 9.8 million, up 8%
• GAAP operating income: $57 million, up 64%
• Non-GAAP operating margin: 27.3%
• 2026 revenue guidance: $1.122 billion to $1.127 billion

Sources

1. AppFolio, Inc., Form 8-K (Item 2.02) with Exhibit 99.1 earnings release dated Oct. 22, 2026, accession 0001433195-26-000062

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