Appfolio Inc (APPF)

Cash conversion cycle

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Days of inventory on hand (DOH) days — — — — —
Days of sales outstanding (DSO) days — 11.19 12.18 12.77 12.79
Number of days of payables days — 2.88 1.75 4.71 4.32
Cash conversion cycle days 0.00 8.31 10.43 8.06 8.47

December 31, 2025 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= — + — – —
= 0.00