Appfolio Inc (APPF)

Gross profit margin

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Gross profit (ttm)	US$ in thousands	209,742	131,758	108,509	77,110	24,277	44,257	22,094	44,258	82,785	80,748	76,174	74,437	74,649	78,375	79,242	76,515	68,470	61,410	59,880	56,717
Revenue (ttm)	US$ in thousands	680,437	627,476	577,852	536,077	505,125	473,067	444,385	414,806	386,300	359,871	336,457	323,816	315,202	308,229	302,747	287,049	269,765	254,358	237,843	220,663
Gross profit margin		30.82%	21.00%	18.78%	14.38%	4.81%	9.36%	4.97%	10.67%	21.43%	22.44%	22.64%	22.99%	23.68%	25.43%	26.17%	26.66%	25.38%	24.14%	25.18%	25.70%

March 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $209,742K ÷ $680,437K
= 30.82%

The gross profit margin of Appfolio Inc has shown variability over the past few quarters. In the most recent quarter ending March 31, 2024, the gross profit margin was 30.82%, representing a significant increase compared to the previous quarter. This improvement indicates that the company was able to generate more gross profit relative to its revenue in the latest period.

Looking at the trend over the past few quarters, there was a notable decline in the gross profit margin in the quarter ending March 31, 2023, where it was only 4.81%. However, since then, the gross profit margin has been gradually increasing, showing a positive trend in the company's ability to efficiently manage its cost of goods sold and improve profitability.

Comparing the figures to the same quarter in the previous year, the gross profit margin has generally been higher in the recent quarters, indicating an improvement in the company's gross profitability performance.

Overall, the recent increase in the gross profit margin for Appfolio Inc demonstrates a positive trend in the company's ability to generate profit from its core business operations.