Appfolio, inc. (APPF)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Cash from operating activities
Net income

34,540

36,282

34,503

35,049

19,372

19,967

19,895

18,053

13,376

9,716

5,850

1,043

-4,018

-8,281

-10,882

-14,517

-15,653

-15,668

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

23,733

22,395

19,961

17,988

16,152

14,576

14,136

13,668

13,203

12,699

12,170

11,569

10,814

9,935

8,964

7,966

7,038

6,104

0

0

0

Amortization of operating lease right-of-use assets

4,241

4,130

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-26,812

-31,455

-27,032

-25,643

-4,281

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchased investment premium, net of amortization

-

-

-

-

-

-

-

-

-

-

-38

-46

-86

-245

300

770

720

865

0

0

0

Amortization of Debt Issuance Costs

-

-

-

-

-

-

-

-

-

-

63

63

63

63

63

457

467

456

0

0

0

Loss on disposal of property, equipment, and intangibles

-

-

-

-

-

-

-

-

-

-

-102

-98

-40

-41

-93

-86

-89

-67

0

0

0

Stock-based compensation

6,716

7,309

7,349

6,921

6,571

6,337

6,211

6,035

6,317

6,096

5,761

5,462

4,935

4,301

3,228

2,217

1,337

1,007

0

0

0

Other

33

-32

-195

-186

-172

-224

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Lease abandonment

-

-

-

-

-

-

-

-

-

-

-

-

-

-161

-161

-60

-91

0

0

0

0

Changes in operating assets and liabilities:
Accounts receivable

1,596

2,031

2,221

1,435

1,811

908

1,433

1,323

721

876

712

1,188

1,172

463

469

520

675

746

0

0

0

Prepaid expenses and other current assets

3,276

4,031

6,574

10,713

10,091

6,073

4,055

1,356

970

1,009

429

-58

-1,306

377

1,352

1,932

2,648

1,893

0

0

0

Other assets

-568

-1,376

-1,685

2,131

3,021

4,447

5,033

1,095

855

84

-6

62

-12

103

99

65

122

56

0

0

0

Accounts payable

49

511

407

-37

299

614

8

1,058

334

-100

574

-652

-270

-904

-1,715

-1,893

-1,301

-439

0

0

0

Accrued employee expenses

1,982

4,542

4,930

3,939

2,194

1,219

-828

627

1,063

3,243

3,213

1,893

467

2,223

-1,367

1,729

1,080

1,887

0

0

0

Accrued expenses

-799

55

-130

3,232

4,250

3,281

1,955

910

409

271

1,507

1,191

634

1,148

1,255

1,326

1,322

1,135

0

0

0

Deferred revenue

1,618

1,193

697

-719

-2,987

-4,589

-4,675

-4,246

-2,951

-558

881

1,936

3,039

2,685

2,185

1,846

1,423

1,173

0

0

0

Operating lease liabilities

-1,143

-2,662

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

1,887

1,241

1,180

6,221

6,195

6,067

6,069

-22

-469

-148

-691

-569

37

826

1,888

2,573

1,903

994

0

0

0

Net cash provided by operating activities

41,675

38,887

35,080

33,027

33,221

36,268

32,416

32,559

28,906

29,371

28,333

20,989

16,043

11,500

1,653

-1,660

-6,369

-6,844

0

0

0

Cash from investing activities
Purchases of available-for-sale investments

25,847

25,198

11,422

9,362

13,943

29,516

37,835

31,883

35,684

26,648

24,814

30,463

28,703

31,551

38,084

90,861

83,561

74,176

0

0

0

Proceeds from sales of available-for-sale investments

14,942

2,750

22,949

22,645

22,645

20,900

701

20

20

15

2,558

2,542

6,054

12,559

14,116

14,117

10,605

4,100

0

0

0

Proceeds from maturities of available-for-sale investments

20,660

15,660

15,342

21,224

26,773

32,819

33,977

24,580

20,325

16,474

15,199

17,439

18,952

21,337

34,298

37,523

32,966

26,136

0

0

0

Purchases of property, equipment and intangible assets

15,046

8,084

4,447

3,917

2,869

2,102

2,274

1,957

2,085

2,214

2,362

1,918

2,743

4,242

5,020

5,345

4,864

3,694

0

0

0

Additions to capitalized software

23,162

20,998

18,976

16,219

14,026

12,304

11,367

10,689

10,400

10,455

10,697

11,278

11,978

11,166

10,858

9,681

8,625

7,677

0

0

0

Acquisition, net of cash acquired

0

54,004

54,004

68,445

68,445

14,441

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

0

0

0

Net cash provided by (used in) investing activities

-28,453

-89,874

-50,588

-54,104

-49,865

-4,644

-31,238

-19,928

-27,824

-22,828

-20,117

-23,681

-18,420

-13,065

-5,551

-54,253

-57,530

-59,367

0

0

0

Cash from financing activities
Proceeds from stock option exercises

560

553

581

576

655

1,035

868

935

988

663

600

585

417

352

289

192

369

357

0

0

0

Proceeds from issuance of restricted stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

141

0

0

0

Tax withholding for net share settlement

11,298

6,155

5,774

5,384

3,541

3,127

3,082

2,945

1,490

1,796

1,634

1,456

1,318

111

0

0

0

-

-

-

-

Payment of contingent consideration

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of debt

51,009

2,169

51,742

51,244

50,703

50,138

123

122

121

118

118

119

117

117

340

310

282

10,253

0

0

0

Principal payments on debt

3,259

3,419

2,679

1,869

1,015

138

123

122

121

118

117

116

116

128

340

10,270

10,282

10,241

0

0

0

Payment of debt issuance costs

60

420

420

420

360

0

0

0

0

-

-

-

-

-

-

-

-

757

0

0

0

Principal payments under capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

29

29

27

28

27

0

0

0

Purchase of treasury stock

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

26,781

-7,272

21,888

22,585

24,880

26,346

-2,214

-2,010

-502

-1,133

-1,038

-882

-922

201

-257

-3,048

63,133

72,862

0

0

0

Net increase (decrease) in cash, cash equivalents and restricted cash

40,003

-58,259

6,380

1,508

8,236

57,970

-1,036

10,621

580

5,410

7,178

-3,574

-3,299

-1,364

-4,155

-58,961

-766

6,651

0

0

0

Noncash investing and financing activities
Purchases of property and equipment included in accounts payable and accrued expenses

7,253

3,447

2,076

636

849

518

-195

260

77

21

420

312

-381

261

1,035

1,272

1,567

1,220

0

0

0

Additions of capitalized software included in accrued and accrued employee expenses

1,483

1,187

1,128

1,214

973

825

441

465

421

374

458

384

100

458

94

509

562

290

0

0

0

Stock-based compensation capitalized for software development

1,912

1,844

1,657

1,374

1,190

1,087

962

916

856

759

671

599

518

431

362

276

186

166

0

0

0

Tax withholding for net share settlement included in accrued employee expenses

0

-

-

0

0

-

-

0

0

-

-

-

0

-

-

-

-

-

-

-

-

Purchase consideration for acquisitions included in other current liabilities

-23

5,977

5,977

6,000

6,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance and other financing costs accrued, not paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Initial public offering costs included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0