Company name:
AppFolio Inc
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IPO SHARE PRICE:$12.00
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IPO DATE:26 June 2015
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TICKER:APPF
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MAIN STOCK EXCHANGE:NASDAQ
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CURRENT HQ LOCATION:50 Castilian Drive Santa Barbara California 93117
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FISCAL YEAR END:December 31
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INCORPORATION JURISDICTION:DE
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ORGANIZED AS THE FOLLOWING LEGAL TYPE:Corporation
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Investor Relations Webpage:Coming soon!
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TAX RATE:USA federal corporate nominal income tax rate is 21%
Short Description
AppFolio Inc
We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com
Balance Sheet
(USD in thousand)
36.0%
7.3%
5.3%
Selected Quarter:
31-Dec
2020
2020
Current Assets
Most valuable part of Current Assets is Cash and Marketable Securities which should be watched carefully; at the same time high and growing level of Accounts Receivables is very dangerous sign
51.2%
36.0% —
Cash and cash equivalents
7.3% —
Short-term passive investments
5.3% —
Prepaid expenses and other current assets
2.6% —
Accounts Receivable
Liquidity
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The most liquid asset, however, most companies don't keep much of it and invest excess cash into marketable securities such as Government bonds - in the US - Treasuries
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$16,783 | $19,514 | $20,121 | $15,813 | $56,779 | $53,315 | $144,028 | $140,263 | ||||||||||||||
| Short-term passive investments | 17,712 | 19,425 | 20,355 | 22,876 | 7,952 | 20,930 | 32,689 | 28,256 | ||||||||||||||
| Accounts Receivable | 7,966 | 8,180 | 8,039 | 7,562 | 9,617 | 12,663 | 9,416 | 10,057 | ||||||||||||||
| Prepaid expenses and other current assets | 15,086 | 16,945 | 16,150 | 15,540 | 18,362 | 15,836 | 15,720 | 20,777 | ||||||||||||||
| Total current assets | $57,547 | $64,064 | $64,665 | $61,791 | $92,710 | $102,744 | $201,853 | $199,353 |
6.8%
9.1%
7.8%
3.1%
4.2%
14.4%
Selected Quarter:
31-Dec
2020
2020
Non-Current Assets
Non-current assets characterize company's business: high Property, Plant, and Equipment means that company is in capital-intensive industry which typically is very cyclical (earnings fluctuate a lot); watch out for high level of Goodwill and other non-intangibles which is bad sign as they typically worth very low relative to their value shown on the balance sheet
48.8%
14.4% —
Goodwill
9.1% —
Capitalized software development cost net
7.8% —
Operating lease - right-of-use assets
6.8% —
Property and equipment net
4.2% —
Intangible assets
3.1% —
Deferred tax assets
1.7% —
Long-term passive investments
1.6% —
Other long-term assets
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| Long-term passive investments | 6,300 | 3,586 | 4,698 | 12,089 | 6,676 | 5,933 | 5,135 | 6,770 | ||||||||||||||
| Property and equipment net | 7,169 | 7,930 | 9,842 | 14,744 | 22,536 | 26,323 | 26,565 | 26,439 | ||||||||||||||
| Capitalized software development cost net | 22,396 | 24,658 | 27,621 | 30,023 | 32,587 | 35,218 | 33,543 | 35,459 | ||||||||||||||
| Operating lease - right-of-use assets | 16,004 | 15,440 | 16,433 | 27,803 | 26,750 | 25,732 | 24,645 | 30,561 | ||||||||||||||
| Deferred tax assets | - | 21,704 | 23,196 | 27,574 | 27,212 | 40,711 | 14,826 | 12,181 | ||||||||||||||
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Intangible assets
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26,644 | 24,003 | 22,678 | 21,377 | 20,121 | 18,911 | 17,544 | 16,357 | ||||||||||||||
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Goodwill
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57,496 | 58,518 | 58,392 | 58,425 | 58,425 | 58,425 | 56,147 | 56,147 | ||||||||||||||
| Other non-current assets | - | - | - | - | - | - | - | - | ||||||||||||||
| Other long-term assets | 7,026 | 6,191 | 6,303 | 6,276 | 6,410 | 6,354 | 6,014 | 6,213 | ||||||||||||||
| Total non-current assets | 143,035 | 162,030 | 169,163 | 198,311 | 200,717 | 217,607 | 184,419 | 190,127 |
| Total assets | $200,582 | $226,094 | $233,828 | $260,102 | $293,427 | $320,351 | $386,272 | $389,480 |
3.6%
4.8%
3.5%
10.3%
38.6%
41.4%
Selected Quarter:
31-Dec
2020
2020
Current Liabilities
Current Liabilities represent company's short-term dues to others. The most important part to watch for is short-term debt and accounts payables
12.8%
4.8% —
Accrued employee compensation
3.6% —
Accrued expenses
2.3% —
Income tax payable
1.1% —
Other current liabilities
0.6% —
Current portion of deferred revenue
0.3% —
Accounts payable
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| Accounts payable | $1,557 | $1,579 | $1,539 | $1,927 | $2,509 | $3,402 | $3,591 | $1,040 | ||||||||||||||
| Income tax payable | - | - | - | - | - | - | 13,571 | 9,095 | ||||||||||||||
| Accrued employee compensation | 10,795 | 13,626 | 13,101 | 17,758 | 11,833 | 18,570 | 18,379 | 18,888 | ||||||||||||||
| Accrued expenses | 9,450 | 9,407 | 9,166 | 10,833 | 11,419 | 13,316 | 13,546 | 14,069 | ||||||||||||||
| Current portion of deferred revenue | 4,045 | 3,929 | 4,163 | 4,600 | 5,732 | 5,098 | 2,457 | 2,262 | ||||||||||||||
| Term Loan | - | - | - | 1,208 | 1,520 | 1,833 | - | - | ||||||||||||||
| Current maturities of long-term debt | 1,213 | 1,208 | 1,208 | 1,208 | - | - | - | - | ||||||||||||||
| Other current liabilities | 11,099 | 12,067 | 13,093 | 11,139 | 5,636 | 5,088 | 4,607 | 4,451 | ||||||||||||||
| Total current liabilities | $38,159 | $41,816 | $42,270 | $47,465 | $38,649 | $47,307 | $56,151 | $49,805 |
Selected Quarter:
31-Dec
2020
2020
Non-Current Liabilities
The most critical items are revolving credit facility, term loans, and then notes - any forms of debt; in addition, pay attention to items like pension liabilites and leases- hidden debt
13.8%
10.3% —
Operating leases
3.5% —
Deferred tax liability
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| Deferred revenue | - | - | - | - | - | - | - | - | ||||||||||||||
| Deferred tax liability | - | - | - | - | - | - | 10,130 | 13,609 | ||||||||||||||
| Deferred rent and other liabilities | - | - | - | - | - | - | - | - | ||||||||||||||
| Borrowings under Revolving Credit Facility | - | - | - | - | 49,000 | 49,000 | - | - | ||||||||||||||
| Term Loan | - | - | - | 47,375 | 46,760 | 46,146 | - | - | ||||||||||||||
| Long-term debt | 48,290 | 47,979 | 47,677 | 47,375 | - | - | - | - | ||||||||||||||
| Operating leases | 19,064 | 18,071 | 18,448 | 33,312 | 34,143 | 33,394 | 32,755 | 40,146 | ||||||||||||||
| Other non-current liabilities | 14 | 13 | 16 | 14 | - | - | 2,720 | - | ||||||||||||||
| Total long-term liabilities | $67,368 | $66,063 | $66,141 | $80,701 | $129,903 | $128,540 | $45,605 | $53,755 |
| Total Liabilities | $105,527 | $107,879 | $108,411 | $128,152 | $168,552 | $175,847 | $101,756 | $103,560 |
Selected Quarter:
31-Dec
2020
2020
Equity
It's residue that is owned by shareholders after satisfying all of the liabilities with all of the assets; the larger the amount, the better the business is
73.4%
41.4% —
Additional paid-in capital
38.6% —
Retained earnings
0.0% —
Accumulated other comprehensive income
0.0% —
Common stock Class A
0.0% —
Common stock Class B
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Convertible preferred stock Series A B
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- | - | - | - | - | - | - | - | ||||||||||||||
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Preferred Stock
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- | - | - | - | - | - | - | - | ||||||||||||||
| Common stock Class A | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | ||||||||||||||
| Common stock Class B | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | ||||||||||||||
| Treasury Stock | (21,562) | (21,562) | (21,562) | - | - | - | - | - | ||||||||||||||
| Treasury Stock at cost | - | - | - | (21,562) | - | - | - | (25,756) | ||||||||||||||
| Treasury stock - common Class A | - | - | - | (21,562) | (25,756) | (25,756) | (25,756) | - | ||||||||||||||
| Retained earnings | - | - | - | (8,034) | - | 13,206 | 150,882 | 150,369 | ||||||||||||||
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Accumulated deficit
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(40,591) | (17,440) | (12,462) | (8,034) | (6,051) | - | - | - | ||||||||||||||
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Additional paid-in capital
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157,253 | 157,195 | 159,399 | 161,509 | 156,513 | 156,919 | 159,296 | 161,247 | ||||||||||||||
| Accumulated other comprehensive income | - | - | - | 33 | 165 | 131 | 90 | 56 | ||||||||||||||
| Accumulated other comprehensive (loss) income | - | - | 38 | 33 | - | - | - | - | ||||||||||||||
| Accumulated other comprehensive loss | (49) | 18 | - | - | - | - | - | - | ||||||||||||||
| Total Equity | $95,055 | $118,215 | $125,417 | $131,950 | $124,875 | $144,504 | $284,516 | $285,920 |
| Total Liabilities and Equity | $200,582 | $226,094 | $233,828 | $260,102 | $293,427 | $320,351 | $386,272 | $389,480 |