Quick Answer
APPFOLIO INC reported R&D Expense of $190.42 million for fiscal year 2025.
APPFOLIO INC R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $190.42M | +18.7% |
| 2024 | $160.38M | +6.0% |
| 2023 | $151.36M | +36.2% |
| 2022 | $111.12M | +68.4% |
| 2021 | $65.98M | +36.0% |
| 2020 | $48.53M | +22.8% |
| 2019 | $39.51M | +63.9% |
| 2018 | $24.11M | +45.4% |
| 2017 | $16.58M | +31.2% |
| 2016 | $12.64M | +32.3% |
| 2015 | $9.55M | +46.9% |
| 2014 | $6.50M | +28.6% |
| 2013 | $5.06M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $54.04M | +32.9% | +15.8% |
| June 30, 2025 | $46.67M | +18.1% | +6.7% |
| March 31, 2025 | $43.76M | +15.5% | +7.6% |
| September 30, 2024 | $40.66M | -2.2% | +2.9% |
| June 30, 2024 | $39.52M | +6.1% | +4.3% |
| March 31, 2024 | $37.90M | +0.6% | -8.9% |
| September 30, 2023 | $41.59M | +43.6% | +11.6% |
| June 30, 2023 | $37.26M | +39.6% | -1.1% |
- APPFOLIO INC showed an increase of +18.7% in R&D Expense compared to the prior fiscal year.
- Over the 2013–2025 period, APPFOLIO INC’s r&d expense has grown by 3665.5% (from $5.06 million to $190.42 million).
- The most recent figure is from APPFOLIO INC’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 5, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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