Appfolio (APPF) Research & Development (2014 - 2026)
Appfolio (APPF) recorded Research & Development of $53.13 million in Q3 2026, down 1.7% from $54.04 million a year earlier but up 4.2% from the prior quarter.
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Analysis
Appfolio (APPF) Research & Development (2014 - 2026) Analysis & Trends
On a TTM basis, Appfolio's Research & Development came in at $199.7 million as of Sep 30, 2026, up 6.9% year-over-year; for FY2025, it came in at $190.42 million, up 18.7% from FY2024.
- Annual Research & Development has increased for 12 straight years, with a five-year compound annual growth rate of 31.4% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $160.38 million in FY2024 (+6.0%), $151.36 million in FY2023 (+36.2%), $111.12 million in FY2022 (+68.4%) and $65.98 million in FY2021 (+36.0%).
- Quarterly Research & Development has ranged from $19.59 million in Q4 2021 to $54.04 million in Q3 2025 over the past five years.
- On a year-over-year basis, Research & Development rose in seven of the last eight quarters, with growth averaging 14.7%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 75.5% in Q3 2022, against a decline of 2.2% in Q3 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $51 million (Q2 2026), $49.63 million (Q1 2026) and $45.95 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 49.39 Bn | 21.63 Bn | 695.95 Mn | 222.92 Mn |
| 3 | Samsara | 23.96 Bn | 20.73 Bn | 392.58 Mn | 102.56 Mn |
| 4 | Ptc | 22.37 Bn | 21.18 Bn | 490.47 Mn | 115.71 Mn |
| 5 | Toast | 20.05 Bn | 12.69 Bn | 543.00 Mn | 103.00 Mn |
| 6 | Manhattan Associates | 14.85 Bn | 13.91 Bn | 174.30 Mn | 35.54 Mn |
| 7 | Bentley Systems | 13.89 Bn | 13.37 Bn | 349.55 Mn | 81.47 Mn |
| 8 | Trimble | 12.57 Bn | 11.65 Bn | 659.10 Mn | 162.90 Mn |
| 9 | Costar | 12.28 Bn | 7.66 Bn | 741.00 Mn | 109.00 Mn |
| 10 | Appfolio | 8.17 Bn | 7.24 Bn | 190.11 Mn | 53.13 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 53.13 Mn |
| Jun 30, 2026 | 51.00 Mn |
| Mar 31, 2026 | 49.63 Mn |
| Dec 31, 2025 | 45.95 Mn |
| Sep 30, 2025 | 54.04 Mn |
| Jun 30, 2025 | 46.67 Mn |
| Mar 31, 2025 | 43.76 Mn |
| Dec 31, 2024 | 42.30 Mn |
| Sep 30, 2024 | 40.66 Mn |
| Jun 30, 2024 | 39.52 Mn |
| Mar 31, 2024 | 37.90 Mn |
| Dec 31, 2023 | 34.85 Mn |
| Sep 30, 2023 | 41.59 Mn |
| Jun 30, 2023 | 37.26 Mn |
| Mar 31, 2023 | 37.66 Mn |
| Dec 31, 2022 | 31.15 Mn |
| Sep 30, 2022 | 28.96 Mn |
| Jun 30, 2022 | 26.69 Mn |
| Mar 31, 2022 | 24.32 Mn |
| Dec 31, 2021 | 19.59 Mn |
API Access
Appfolio Research & Development 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=research-and-development&ticker=APPF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=APPF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();