Appfolio (APPF) Operating Expenses (2014 - 2026)
Appfolio (APPF) recorded Operating Expenses of $228.15 million in Q2 2026, up 17.0% from $195.06 million a year earlier and up 7.9% from the prior quarter.
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Analysis
Appfolio (APPF) Operating Expenses (2014 - 2026) Analysis & Trends
On a TTM basis, Appfolio's Operating Expenses came in at $858.54 million as of Jun 30, 2026, up 18.8% year-over-year; for FY2025, it came in at $797.91 million, up 21.2% from FY2024.
- Annual Operating Expenses has increased for 12 straight years, with a five-year compound annual growth rate of 21.6% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $658.56 million in FY2024 (+6.3%), $619.48 million in FY2023 (+13.8%), $544.25 million in FY2022 (+46.6%) and $371.25 million in FY2021 (+23.6%).
- The Q2 2026 figure is the highest quarterly Operating Expenses in data going back to Q2 2014.
- On a year-over-year basis, Operating Expenses has increased for seven consecutive quarters, with growth averaging 17.7% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 67.7% in Q2 2022, against a decline of 5.7% in Q1 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $211.47 million (Q1 2026), $204.62 million (Q4 2025) and $214.31 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | 178,646.00 |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 420.93 Mn |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 387.71 Mn |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 364.00 Mn |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 323.96 Mn |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 542.90 Mn |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 182.80 Mn |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 231.56 Mn |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 652.00 Mn |
| 10 | Appfolio | 7.00 Bn | 6.18 Bn | 178.53 Mn | 228.15 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 228.15 Mn |
| Mar 31, 2026 | 211.47 Mn |
| Dec 31, 2025 | 204.62 Mn |
| Sep 30, 2025 | 214.31 Mn |
| Jun 30, 2025 | 195.06 Mn |
| Mar 31, 2025 | 183.92 Mn |
| Dec 31, 2024 | 180.71 Mn |
| Sep 30, 2024 | 163.17 Mn |
| Jun 30, 2024 | 161.35 Mn |
| Mar 31, 2024 | 153.34 Mn |
| Dec 31, 2023 | 143.59 Mn |
| Sep 30, 2023 | 165.51 Mn |
| Jun 30, 2023 | 147.75 Mn |
| Mar 31, 2023 | 162.63 Mn |
| Dec 31, 2022 | 144.01 Mn |
| Sep 30, 2022 | 132.90 Mn |
| Jun 30, 2022 | 147.38 Mn |
| Mar 31, 2022 | 119.97 Mn |
| Dec 31, 2021 | 102.94 Mn |
| Sep 30, 2021 | 95.82 Mn |
API Access
Appfolio Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=APPF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "APPF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=APPF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();