AppFolio (APPF) r&d spend was $190M in FY2025 (+19% YoY). The tables below show the complete quarterly and annual r&d spend history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual R&D Spend
Fiscal Year
R&D Spend
YoY
2025
$190M
+19%
2024
$160M
+6%
2023
$151M
+36%
2022
$111M
+68%
2021
$66M
+36%
2020
$49M
+23%
2019
$40M
+64%
2018
$24M
+45%
2017
$17M
+31%
2016
$13M
+32%
2015
$10M
+47%
2014
$7M
+29%
2013
$5M
Recent Quarterly R&D Spend
Quarter
R&D Spend
Q2 2026
$51M
Q1 2026
$50M
Q4 2025
$46M
Q3 2025
$54M
Q2 2025
$47M
Q1 2025
$44M
Q4 2024
$42M
Q3 2024
$41M
Q2 2024
$40M
Q1 2024
$38M
Q4 2023
$35M
Q3 2023
$42M
Source: APPF on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.