Appfolio Inc.

Assets and liabilities which are subject to judgment and use of estimates include the fair value of financial instruments, the fair value of privately-held strategic investments, useful lives of property and equipment and intangible assets, capitalized software development costs, incremental borrowing rate applied in lease accounting, the period of benefit associated with deferred costs, stock-based compensation, income taxes, and contingencies.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

government and agency securities 144,216 40 144,256 Total available-for-sale investment securities $ 144,216 $ 40 $ $ 144,256 As of September 30, 2026, for available-for-sale debt securities in an unrealized loss position, the Company evaluated whether any portion of the decline in fair value below amortized cost was due to credit losses.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

Credit Facility On September 30, 2025, we entered into a credit agreement by and among AppFolio, Inc.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

, certain of our subsidiaries as guarantors, the lender(s) party thereto, and PNC Bank, National Association, in its capacity as Administrative Agent, Swingline Loan Lender and Issuing Lender (the Credit Facility ).

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

The Credit Facility provides for a $ 150.0 million senior secured revolving credit facility, including sublimits of $ 25.0 million for letters of credit and $ 25.0 million for swingline loans, and is scheduled to mature on September 30, 2030.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

We may, subject to customary conditions and consent of the applicable lenders, increase the revolving commitment or incur term loans thereunder (capped at amounts specified in the Credit Facility) or extend the maturity date of the Credit Facility.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

Announces Third Quarter 2025 Financial Results Strong unit and revenue growth driven by customer acquisition, expansion, and Realm-X adoption through premium tiers and value added services SANTA BARBARA, Calif.

SEC original ↗Appfolio Inc. — Earnings release (8-K exhibit)EX-99Oct 30, 2025

In particular, forward-looking statements contained in this press release relate to future operating results and financial position, including the Company's fiscal year 2025 financial outlook, anticipated future expenses and investments, the Company's business opportunities, the impact of the Company's strategic actions and initiatives, the potential benefits and effect of the Company's AI-powered solutions, and their impact on the Company s plans, objectives, expectations and capabilities.

SEC original ↗Appfolio Inc. — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Assets and liabilities which are subject to judgment and use of estimates include the fair value of financial instruments, the fair value of privately-held strategic investments, useful lives of property and equipment and intangible assets, capitalized software development costs, incremental borrowing rate applied in lease accounting, the period of benefit associated with deferred costs, stock-based compensation, income taxes, and contingencies.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

government and agency securities 94 ( 49 ) 202,662 76,620 Total $ 94 $ ( 49 ) $ 202,662 $ 76,620 The tables above do not include our strategic investments of non-marketable equity investments in privately-held companies, which are recorded in long-term investments in our Condensed Consolidated Balance Sheets.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

The cumulative amount of upward adjustments recognized on our strategic investments of non-marketable equity investments was $ 0.6 million as of September 30, 2026.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties.

SEC original ↗Appfolio Inc. — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

SEC original ↗Appfolio Inc. — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Legal Proceedings 26 Item 1A.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors, including those risks, uncertainties and other factors described in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Quarterly Report and "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (our "Annual Report"), as well as in the other reports we file with the Securities and Exchange Commission (the "SEC").

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

Legal Proceedings From time to time, we are involved in various investigative inquiries, legal proceedings and disputes arising from or related to matters incident to the ordinary course of our business activities, including actions with respect to intellectual property, employment, labor, regulatory and contractual matters.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026

Although the ultimate outcome of such investigative inquiries, legal proceedings and other disputes cannot be predicted with certainty, we do not believe that any such pending investigative inquiries, legal proceedings and other disputes, if determined adversely to us, would, individually or taken together, have a material adverse effect on our business, operating results, financial condition or cash flows.

SEC original ↗Appfolio Inc. — 10-Q Quarterly report10-QOct 22, 2026