v3.25.3

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 76,093	$ 42,504
Investment securities—current	124,056	235,745
Accounts receivable, net	34,346	24,346
Prepaid expenses and other current assets	68,269	32,807
Total current assets	302,764	335,402
Property and equipment, net	22,901	24,483
Operating lease right-of-use assets	16,620	17,472
Capitalized software development costs, net	11,679	15,429
Goodwill	96,410	96,410
Intangible assets, net	41,384	49,057
Deferred income taxes	59,792	76,910
Long-term investments	77,033	2,033
Other long-term assets	11,882	9,482
Total assets	640,465	626,678
Current liabilities
Accounts payable	4,112	2,378
Accrued employee expenses	52,321	30,157
Accrued expenses	19,224	14,658
Other current liabilities	24,775	16,087
Total current liabilities	100,432	63,280
Operating lease liabilities	34,533	37,476
Other liabilities	6,632	6,632
Total liabilities	141,597	107,388
Commitments and contingencies (Note 6)
Stockholders’ equity:
Additional paid-in capital	280,361	254,821
Accumulated other comprehensive (loss) Income	(74)	173
Treasury stock	(172,480)	(25,756)
Retained earnings	391,057	290,048
Total stockholders’ equity	498,868	519,290
Total liabilities and stockholders’ equity	640,465	626,678
Class A common stock
Stockholders’ equity:
Common stock	3	2
Class B common stock
Stockholders’ equity:
Common stock	$ 1	$ 2

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

APPFOLIO INC 10-Q