Appfolio Inc (APPF)

Gross profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Gross profit (ttm)	US$ in thousands	296,911	298,647	247,830	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
Revenue (ttm)	US$ in thousands	797,194	767,764	729,259	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
Gross profit margin		37.24%	38.90%	33.98%	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%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $296,911K ÷ $797,194K
= 37.24%

The gross profit margin of Appfolio Inc has shown fluctuating trends over the specified periods. The margin started at 25.38% in March 31, 2020, increased to 26.66% by June 30, 2020, and remained relatively stable around 26% until September 30, 2020. However, by December 31, 2020, the margin decreased to 25.43%.

Subsequently, there was a noticeable decline in the gross profit margin, dropping to 23.68% in March 31, 2021, followed by further decreases to 22.99% in June 30, 2021, and 22.64% in September 30, 2021. The margin continued to decrease to 22.44% by December 31, 2021, and 21.43% by March 31, 2022.

The trend reversed in June 30, 2022, with a substantial drop to 10.67%, and a further decrease to 4.97% by September 30, 2022. However, the margin improved to 9.36% by December 31, 2022 and increased significantly to 14.38% by March 31, 2023, and 18.78% by September 30, 2023.

There was a considerable uptick in the gross profit margin to 21.00% by December 31, 2023, and a significant improvement to 30.82% by March 31, 2024. The positive trend continued with margins of 33.98% by June 30, 2024, and 38.90% by September 30, 2024. The margin slightly decreased to 37.24% by December 31, 2024.

Overall, the gross profit margin of Appfolio Inc displayed volatility and fluctuations throughout the reported periods, with periods of both decline and improvement, showcasing the company's ability to manage costs and generate profits from its core operations.