AppFolio (APPF) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and AppFolio published the results on October 22, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. AppFolio reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP net income per share, diluted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

Source: AppFolio Q3 2026 results, October 22, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How AppFolio splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• AppFolio's Subscription Services revenue was $61.5 million in Q3 2026, up 14% from $53.8 million in Q3 2025, 21% of total revenue.
• AppFolio's Value Added Services revenue was $232 million in Q3 2026, up 21% from $192 million in Q3 2025, 78% of total revenue.
• AppFolio's Other revenue was $2.2 million in Q3 2026, down 37% from $3.5 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, AppFolio said:

“Full year revenue range is increasing to $1.122 - $1.127 billion.”

“Full year non-GAAP operating margin range as a percentage of revenue is now 26.5% - 27.5%.”

“Diluted weighted average shares outstanding are expected to be approximately 36 million for the full year.”

Source: AppFolio Q3 2026 release, Oct 22, 2026.

This is the company's own guidance as of Oct 22, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the APPF forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release.

AppFolio's next report is expected around January 28, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 22, 2026

AppFolio sells property management software, and most of its revenue is not the software subscription itself. In Q3 2026 Value Added Services brought in $231.9 million of the $295.7 million total, Subscription Services $61.5 million and Other $2.2 million. (AppFolio Q3 2026 release, Oct 22, 2026)

Value Added Services are charged per use, either as a percentage of the transaction amount (certain electronic payment services) or as a flat fee per transaction (tenant screening and risk mitigation services), generally with no minimum usage commitment. AppFolio says a significant majority of this revenue comes from electronic payments, tenant screening and risk mitigation, and it records payments fees gross of interchange and processing fees. (AppFolio Form 10-Q, Q3 2026, Oct 22, 2026)

Total revenue grew 19%, or $46.3 million. Value Added Services rose 21% and Subscription Services 14%, while Other revenue, which includes implementation fees and legacy customers of acquired businesses, fell 37%. AppFolio attributed the increase mainly to more use of its payments, tenant screening, risk mitigation and resident services, and to 8% growth in property management units under management. (AppFolio Form 10-Q, Q3 2026, Oct 22, 2026)

Subscription fees vary by property type and scale with the size of the customer's business, so units under management drive both revenue lines. AppFolio had 9.8 million property management units under management at September 30, 2026, against 9.1 million a year earlier. (AppFolio Form 10-Q, Q3 2026, Oct 22, 2026)

AppFolio's GAAP diluted EPS was $1.29 in Q3 2026, against $0.93 a year earlier. Non-GAAP diluted EPS was $1.82, against $1.31. The gap is mostly stock-based compensation, $20.6 million in the quarter, which AppFolio excludes from its non-GAAP figures; non-GAAP net income was $64.7 million against GAAP net income of $46.0 million. (AppFolio Q3 2026 release, Oct 22, 2026)

Tax was a larger drag than a year ago. The provision for income taxes rose to $13.6 million from $3.1 million, an effective tax rate of 22.9% for the quarter. Operating income grew faster than net income: GAAP income from operations was $57.4 million, up 64%. (AppFolio Q3 2026 release, Oct 22, 2026; AppFolio Form 10-Q, Q3 2026, Oct 22, 2026)

Buybacks have cut the share count. Diluted weighted average shares were 35,578 thousand, against 36,259 thousand a year earlier, and AppFolio spent $129.2 million buying back common stock in the first nine months of 2026 under a $300.0 million program authorized in April 2025. (AppFolio Q3 2026 release, Oct 22, 2026; AppFolio Form 10-Q, Q3 2026, Oct 22, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

AppFolio gives a full-year outlook in its release and updates it each quarter. With Q3 2026 results it raised the full-year 2026 revenue range to $1.122 billion to $1.127 billion, set full-year non-GAAP operating margin at 26.5% to 27.5%, and expects about 36 million diluted weighted average shares. It does not give a GAAP equivalent for the margin outlook because it cannot predict stock-based compensation. (AppFolio Q3 2026 release, Oct 22, 2026)

The 10-Q adds that AppFolio expects cost of revenue for 2026 to stay roughly flat as a percentage of revenue compared with 2025. (AppFolio Form 10-Q, Q3 2026, Oct 22, 2026)

A consensus figure is the average of the models published by the analysts who cover AppFolio, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones AppFolio's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning APPF is on is APPF a buy or a sell?, what analysts expect next is on the APPF forecast, and what the company does is on the AppFolio (APPF) stock page.

Every number on this page can be traced to a document AppFolio published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.