AppFolio, Inc. logo APPF - AppFolio, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 9
HOLD 3
SELL 1
STRONG
SELL
0
| PRICE TARGET: $236.67 DETAILS
HIGH: $255.00
LOW: $210.00
MEDIAN: $245.00
CONSENSUS: $236.67
UPSIDE: 43.51%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1
Revenue
Revenue 262.2 248.2 249.4 235.6 217.7 203.7 205.7 197.4 187.4 171.8 165.4 147.1 136.1 124.1 125.1 117.5 105.3 95.6 95.8 89.0 78.9 72.4 84.1 81.0 72.5 67.4 67.9 63.6 57.1 50.4 50.1 47.2 42.3 37.9 37.9 35.9 32.1 28.0 28.2 26.2 23.2 20.4 20.3 18.4 15.8 13.2 13.0 11.6 9.8
Cost of Revenue 95.0 95.7 91.5 83.8 79.5 81.5 71.6 74.3 69.9 61.3 62.7 57.9 56.2 50.3 50.7 47.4 43.3 39.1 38.7 32.8 33.3 29.9 32.8 27.4 29.0 26.4 25.9 25.1 24.2 19.9 19.3 17.7 16.6 14.5 14.1 13.7 13.0 11.2 11.6 11.2 10.5 9.5 9.3 8.1 7.1 6.4 6.0 5.4 4.7
Gross Profit 167.2 152.5 157.9 151.7 138.2 122.1 134.1 123.1 117.6 110.6 102.7 89.2 79.9 73.7 74.4 70.0 61.9 56.5 57.1 56.2 45.6 42.5 51.3 53.6 43.5 41.0 42.0 38.5 32.9 30.4 30.8 29.5 25.7 23.4 23.9 22.2 19.1 16.8 16.5 15.0 12.7 10.9 11.0 10.3 8.8 6.8 7.0 6.1 5.1
Operating Expenses
R&D Expenses 49.6 46.0 54.0 46.7 43.8 42.3 40.7 39.5 37.9 34.8 46.0 42.2 43.6 31.2 29.0 26.7 24.3 25.3 16.5 15.5 14.4 11.7 13.5 12.1 11.2 11.1 10.6 9.3 8.5 6.6 6.4 5.8 5.3 4.6 4.4 4.0 3.6 3.1 3.5 3.0 3.0 2.6 2.8 2.2 2.0 1.9 1.8 1.6 1.1
SG&A Expenses 61.8 63.0 63.4 58.7 54.4 56.9 46.5 47.6 45.6 40.5 53.6 47.7 61.1 54.4 45.0 64.9 43.9 36.3 32.8 31.9 29.5 26.5 27.8 28.5 23.1 23.6 21.6 21.4 19.4 17.4 15.2 12.9 12.7 13.0 12.7 12.3 11.9 12.1 11.6 12.0 11.1 10.5 10.9 9.9 9.1 8.3 5.5 5.2 4.4
Other Expenses 5.0 0 5.4 5.8 6.3 0 4.3 0 0 6.9 3.2 0.0 1.8 8.1 8.2 8.3 8.4 2.3 7.8 7.6 7.4 7.0 6.7 6.7 6.4 6.2 (0.0) (0.1) (0.0) (0.0) 0.0 (0.0) (0.0) (0.0) (0.0) (0.1) (0.0) (0.0) (0.0) 0.0 (0.0) 0.0 (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.1)
Operating Expenses 116.5 109.0 122.8 111.2 104.4 99.2 91.5 87.1 83.5 82.3 102.8 89.9 106.4 93.7 82.2 100.0 76.6 63.8 57.1 55.1 51.3 45.3 48.0 47.3 40.7 40.9 37.9 36.2 33.0 27.7 25.4 22.2 21.6 21.0 20.3 19.4 18.5 18.1 17.7 17.3 16.3 14.9 15.4 13.5 12.3 11.3 8.3 7.7 6.4
Operating Income
Operating Income 50.7 43.6 35.0 40.5 33.8 23.0 42.6 36.0 34.1 28.2 (0.1) (0.7) (26.5) (20.0) (7.8) (29.9) (14.7) (7.3) (0.0) 1.1 (5.7) (2.8) 3.4 6.3 2.8 0.1 4.1 2.3 (0.1) 2.7 5.5 7.3 4.2 2.4 3.6 2.8 0.6 (1.3) (1.2) (2.3) (3.6) (4.0) (4.3) (3.2) (3.5) (4.6) (1.3) (1.5) (1.2)
Interest Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.9 0.6 0.5 0.3 0.4 0.4 0.5 0 0 0 0 0.5 0 0 0 0.2 0.1 0.1 0.0 0 0.4 0.2 0.0 0 0 0 0
Interest Income 1.8 2.0 1.7 1.5 3.0 3.5 4.0 3.5 3.0 2.4 1.8 1.5 1.4 0.6 0.4 0.2 0.1 0.3 0.1 0.1 0.1 0.1 0 0 0 0 0 0 0 0.2 0.2 0.2 0.2 0 0.2 0.1 0.1 0 0 0 0 0.1 0 0 0 0.0 0.0 0.0 0.0
Profitability
EBITDA 56.3 50.7 42.2 46.9 40.5 32.5 47.0 41.2 39.8 35.2 2.5 (1.3) (25.5) (11.1) 1.1 (20.5) (5.4) (5.6) 8.3 9.1 2.0 (182.7) 10.9 14.0 10.3 7.4 10.9 8.7 5.0 6.5 9.2 10.9 7.7 5.7 6.8 5.9 3.6 1.5 1.4 0.0 (1.5) (2.1) (2.7) (1.8) (2.3) (3.5) (0.3) (0.6) (0.4)
EBIT 50.7 45.6 36.7 40.5 33.8 27.2 42.6 36.0 34.1 28.2 (0.1) (2.6) (26.5) (20.0) (7.8) (29.7) (14.7) (7.3) (0.0) 1.1 (5.7) (190.5) 3.4 6.3 2.8 0.1 4.1 2.3 (0.1) 2.7 5.5 7.3 4.2 2.4 3.6 2.8 0.6 (1.3) (1.2) (2.3) (3.6) (4.0) (4.3) (3.2) (3.5) (4.6) (1.3) (1.5) (1.2)
Income Before Tax 53.1 45.6 36.7 42.0 36.8 27.2 46.6 39.5 37.1 30.9 1.5 0.7 (25.1) (19.2) (3.2) (29.7) (14.6) 5.4 (0.3) 1.7 (5.1) (1.6) 190.3 5.8 2.4 (0.2) 3.7 1.8 (0.6) 2.8 5.7 7.5 4.3 2.5 3.7 2.8 0.7 (1.3) (1.1) (2.3) (3.6) (3.8) (4.7) (3.5) (3.5) (4.6) (1.3) (1.5) (1.2)
Income Tax Expense 10.7 5.7 3.1 6.0 5.4 (75.6) 13.6 9.8 (1.6) 0.7 (25.0) 19.6 10.0 0.5 0.9 0.2 (0.3) 6.7 (0.2) (0.3) (5.5) (1.0) 52.6 (13.5) 0.4 (4.6) (1.3) (21.3) (4.3) 0.2 0.2 0.0 0.0 (0.0) 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (0.1) 0.1 (0.0) (0.0) (0.0) 0
Net Income 42.4 39.9 33.6 36.0 31.4 102.7 33.0 29.7 38.7 30.3 26.4 (18.9) (35.1) (19.7) (4.2) (30.0) (14.3) (1.3) (0.1) 2.0 0.5 (0.5) 137.7 19.3 2.0 4.4 5.0 23.2 3.7 2.6 5.5 7.5 4.3 2.6 3.7 2.8 0.7 (1.3) (1.1) (2.3) (3.6) (3.9) (4.8) (3.4) (3.6) (4.6) (1.3) (1.5) (1.2)
Per Share Data
EPS (Basic) 1.19 1.11 0.94 1.00 0.86 2.82 0.91 0.82 1.07 0.85 0.74 -0.53 -0.99 -0.56 -0.12 -0.86 -0.41 -0.04 -0.00 0.06 0.01 -0.01 4.01 0.56 0.06 0.13 0.15 0.68 0.11 0.08 0.16 0.22 0.13 0.08 0.11 0.08 0.02 -0.04 -0.03 -0.07 -0.11 -0.12 -0.14 -0.10 -0.11 -0.18 -0.05 -0.06 -0.05
EPS (Diluted) 1.18 1.10 0.93 0.99 0.86 2.79 0.90 0.81 1.05 0.83 0.72 -0.53 -0.99 -0.56 -0.12 -0.86 -0.41 -0.04 -0.00 0.06 0.01 -0.01 3.86 0.54 0.06 0.12 0.14 0.65 0.11 0.07 0.16 0.21 0.12 0.07 0.10 0.08 0.02 -0.04 -0.03 -0.07 -0.11 -0.12 -0.14 -0.10 -0.11 -0.18 -0.05 -0.06 -0.05
Shares Outstanding 35.7 35.9 35.9 35.9 36.3 36.4 36.3 36.2 36.1 35.8 35.7 35.6 35.4 35.2 34.7 34.9 34.8 34.7 34.6 34.5 34.4 34.3 34.3 34.3 34.2 34.1 34.0 34.0 33.9 34.0 34.2 34.2 34.1 33.9 33.9 33.8 33.7 32.2 33.6 32.3 32.8 33.4 33.3 32.8 32.3 25.8 25.8 25.8 25.8
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 147.4 107.2 76.3 73.7 57.2 42.8 62.7 59.9 59.5 49.5 59.9 24.7 103.9 70.8 67.2 42.6 49.5 57.8 84.4 48.6 44.7 140.3 144.0 53.3 56.8 15.8 20.1 19.5 16.8 74.1 13.7 18.0 8.5 16.1 14.8 7.4 8.0 10.7 7.6 11.0 11.3
Short-Term Investments 4.2 144.3 124.1 54.1 153.9 235.7 269.0 221.7 184.3 162.2 131.6 139.3 65.0 89.3 72.0 75.4 78.4 64.6 76.0 103.0 103.3 28.3 32.7 20.9 8.0 22.9 20.4 19.4 17.7 16.6 31.8 34.7 37.3 29.8 28.4 24.7 19.4 15.5 10.0 11.2 9.9
Net Receivables 61.3 64.0 34.3 32.5 27.5 24.3 25.6 25.7 26.2 20.7 20.4 20.0 17.4 16.5 14.9 16.2 16.2 12.6 12.2 15.0 12.5 10.1 9.4 12.7 9.6 7.6 8.0 8.2 8.0 5.5 5.5 5.6 4.5 3.4 3.4 4.2 3.8 2.5 2.7 3.0 2.6
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 42.0 11.0 68.0 37.0 33.7 32.8 38.2 41.8 37.0 39.9 28.0 25.5 25.5 24.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 254.9 342.1 302.8 197.1 272.0 335.4 395.1 348.8 306.7 272.4 239.9 209.5 211.9 201.5 176.8 156.4 169.6 158.6 197.4 189.9 181.5 199.4 201.9 102.7 92.7 61.8 64.7 64.1 57.5 108.0 62.0 64.5 55.6 53.8 51.0 40.1 34.3 32.2 24.3 29.0 28.3
Non-Current Assets
Property, Plant & Equipment 37.8 39.2 39.5 39.1 40.4 42.0 43.2 44.9 46.5 47.6 46.9 46.9 46.6 49.6 56.2 57.5 71.2 72.2 70.8 68.3 56.6 57 51.2 52.1 49.3 42.5 26.3 23.4 23.2 6.9 6.7 6.5 6.5 6.7 7.0 6.7 6.6 7.1 6.9 7.1 7.0
Goodwill 96.4 96.4 96.4 96.4 96.4 96.4 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 56.1 58.4 58.4 58.4 58.4 58.5 57.5 15.5 15.5 6.7 6.7 6.7 6.7 6.7 6.7 6.7 6.7 6.7 6.7
Intangible Assets 36.3 50.1 41.4 56.4 60.1 64.5 16.3 17.3 19.0 23.9 27.0 30.4 34.7 40.1 41.8 46.9 49.8 52.9 53.6 53.2 52.7 51.8 51.1 54.1 52.7 51.4 50.3 48.7 49.0 26.4 25.4 19.5 19.5 19.3 19.4 19.2 19.1 18.6 17.9 16.6 15.4
Long-Term Investments 77.7 77.0 77.0 77.0 2 0 1.3 1.3 0 0 0 0 12.7 25.2 45.2 49.9 45.9 61.1 9.3 11.5 11.8 6.8 5.1 5.9 6.7 12.1 4.7 3.6 6.3 11.3 19.9 22.6 22.0 22.4 20.4 25.6 24.9 26.7 31.9 29.0 30.9
Other Non-Current Assets 26.7 25.3 23.6 11.3 11.3 11.5 11.2 10.9 10.6 8.9 8.7 8.4 8.7 8.8 8.8 8.6 7.5 7.1 7.4 7.2 6.6 6.2 6.0 6.4 6.4 6.3 6.3 6.2 7.0 7.7 6.8 4.1 3.8 1.2 1.2 1.2 1.2 1.2 1.3 1.2 1.3
Total Non-Current Assets 325.6 380.1 337.7 370.3 292.7 291.3 128.2 130.5 132.1 136.5 138.7 141.9 158.8 179.7 208.1 219.0 230.5 249.4 210.0 209.2 197.2 190.1 184.4 217.6 200.7 198.3 169.2 162.0 143.0 67.7 74.2 59.4 58.4 56.4 54.8 59.5 58.6 60.4 64.7 60.7 61.3
Total Assets 580.6 722.3 640.5 567.4 564.7 626.7 523.3 479.3 438.8 408.9 378.6 351.4 370.7 381.2 384.9 375.4 400.0 408.0 407.4 399.1 378.7 389.5 386.3 320.4 293.4 260.1 233.8 226.1 200.6 175.7 136.2 124.0 114.1 110.2 105.7 99.6 92.9 92.6 89.0 89.8 89.6
Current Liabilities
Account Payables 3.7 4.1 4.1 3.3 4.9 2.4 0.5 1.3 1.5 1.1 1.4 1.5 0.7 2.5 1.5 1.3 4.8 1.7 2.5 2.4 2.3 1.0 3.6 3.4 2.5 1.9 1.5 1.6 1.6 1.5 1.1 1.8 1.1 0.6 1.2 0.4 0.7 0.9 0.6 1.1 1.5
Short-Term Debt 0 4.9 4.7 4.5 4.4 4.3 3.1 3.9 3.8 3.6 3.1 3.1 3.1 3.4 3.8 3.5 2.0 1.9 1.8 1.6 1.8 1.8 2.0 4.5 4.3 4.0 6.2 5.6 5.2 1.2 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 3.1 3.7 2.5 2.7 3.2 3.1 2.3 2.5 5.1 5.7 4.6 4.2 3.9 4.0 3.4 3.2 3.8 5.7 7.1 7.5 8.0 8.7 7.6 6.6 6.1 5.7
Other Current Liabilities 63.6 38.1 39.3 34.1 27.5 26.5 26.4 26.3 21.5 29.4 26.6 25.2 28.9 21.1 23.0 20.1 18.4 16.4 16.2 14.0 13.1 16.7 16.1 15.8 14.3 19.1 17.3 17.1 16.5 9.7 9.0 7.5 6.0 5.5 7.0 6.6 5.9 5.2 5.6 1.6 1.1
Total Current Liabilities 72.4 106.8 100.4 67.6 58.6 63.3 63.7 63.3 56.1 69.8 74.1 74.7 79.8 61.3 57.8 54.7 54.0 52.6 49.2 48.8 43.0 49.8 56.2 47.3 38.6 47.5 42.3 41.8 38.2 28.2 20.8 21.9 20.4 23.9 23.8 23.0 20.9 21.4 17.8 18.8 17.8
Non-Current Liabilities
Long-Term Debt 0 33.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 95.1 95.8 47.4 47.7 48.0 48.3 48.6 0 0 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 33.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.7 7.9 8.1 9.1 13.6 10.1 0 0 25.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 6.0 (27.0) 6.6 9.0 7.7 6.6 8.4 5.1 3.0 0.7 0.7 11.1 5.0 4.1 2.0 1.7 2.3 0.6 2.1 1.0 1.2 0 2.7 0 0 0.0 0.0 0.0 0.0 7.1 7.0 1.1 1.2 1.3 1.2 1.4 1.5 1.5 1.7 1.9 1.7
Total Non-Current Liabilities 38.0 72.8 41.2 44.2 44.0 44.1 46.8 44.6 43.5 41.8 41.8 50.7 50.3 54.3 55.2 55.7 57.3 58.0 66.5 63.0 49.9 53.8 45.6 128.5 129.9 106.2 66.1 66.1 67.4 55.7 7.0 1.1 1.2 1.3 1.2 1.4 1.5 1.5 1.7 1.9 1.7
Total Liabilities 110.3 179.7 141.6 111.8 102.6 107.4 110.5 107.9 99.6 111.6 115.9 125.4 130.1 115.7 113.0 110.4 111.3 110.6 115.7 111.8 92.9 103.6 101.8 175.8 168.6 128.2 108.4 107.9 105.5 83.9 27.8 23.0 21.5 25.2 25.1 24.4 22.4 22.9 19.5 20.7 19.6
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings 473.4 431.0 391.1 357.4 321.4 290.0 187.3 154.3 124.6 86.0 55.7 29.3 48.2 83.3 103.0 107.1 137.1 151.4 152.7 152.9 150.8 150.4 150.9 13.2 (6.1) (8.0) (12.5) (17.4) (40.6) (44.3) (47.0) (52.5) (60.0) (67.2) (69.8) (73.5) (76.3) (77.0) (75.7) (74.5) (72.3)
Accumulated Other Comprehensive Income (0.0) 0.0 (0.1) (0.1) (0.0) 0.2 0.5 (0.2) (0.1) 0.1 (0.0) (0.6) (0.9) (1.7) (2.6) (1.9) (1.5) (0.2) (0.0) (0.0) 0.0 0.1 0.1 0.1 0.2 0.0 0.0 0.0 (0.0) (0.2) (0.2) (0.3) (0.4) (0.2) (0.0) (0.0) (0.0) (0.1) 0.1 0.2 0.1
Total Stockholders' Equity 470.2 542.6 498.9 455.6 462.1 519.3 412.8 371.4 339.2 297.3 262.7 226.0 240.6 265.5 271.9 265.0 288.7 297.4 291.7 287.3 285.8 285.9 284.5 144.5 124.9 131.9 125.4 118.2 95.1 91.8 108.4 101.0 92.5 85.1 80.7 75.2 70.5 69.7 69.5 69.1 70
Total Liabilities & Equity 580.6 722.3 640.5 567.4 564.7 626.7 523.3 479.3 438.8 408.9 378.6 351.4 370.7 381.2 384.9 375.4 400.0 408.0 407.4 399.1 378.7 389.5 386.3 320.4 293.4 260.1 233.8 226.1 200.6 175.7 136.2 124.0 114.1 110.2 105.7 99.6 92.9 92.6 89.0 89.8 89.6
Debt Metrics
Total Debt 37.0 71.4 39.2 39.6 40.7 41.7 41.5 43.3 44.3 44.7 44.2 42.6 48.4 53.6 57.1 57.5 57.0 57.6 58.3 55.5 41.4 42.0 34.8 133.0 134.2 84.7 72.3 71.7 72.6 49.8 0 0 0 0 0 0 0 0 0 0 0
Net Debt (110.4) (35.8) (37.1) (34.1) (16.5) (1.0) (21.1) (16.6) (15.2) (4.8) (15.8) 17.9 (55.5) (17.2) (10.2) 14.9 7.4 (0.2) (26.1) 6.9 (3.3) (98.3) (109.3) 79.7 77.4 68.9 52.2 52.1 55.8 (24.3) (13.7) (18.0) (8.5) (16.1) (14.8) (7.4) (8.0) (10.7) (7.6) (11.0) (11.3)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 42.4 39.9 33.6 36.0 31.4 102.7 33.0 29.7 38.7 30.3 26.4 (18.9) (35.1) (19.7) (4.2) (30.0) (14.3) (1.3) (0.1) 2.0 0.5 (0.5) 137.7 19.3 2.0 4.4 5.0 23.2 3.7 2.6 5.5 7.5 4.3 2.6 3.7 2.8 0.7 (1.3) (1.1) (2.3) (3.6)
Depreciation & Amortization 5.6 5.8 6.0 6.4 6.8 4.5 4.4 5.2 5.7 6.9 8.1 7.4 7.5 8.8 8.9 9.2 9.3 8.9 8.7 8.4 8.0 7.8 7.6 7.7 7.5 7.3 6.8 7.3 5.1 3.8 3.7 3.6 3.5 3.4 3.2 3.1 3.0 2.8 2.6 2.4 2.1
Stock-Based Compensation 18.0 15.3 20.8 18.3 16.4 16.4 16.4 14.8 13.5 13.0 0 0 14.6 0 0 0 0 0 0 0 0 2.2 3.1 2.8 1.0 1.9 2.2 1.7 1.6 1.9 1.8 1.3 1.3 1.8 1.6 1.6 1.1 1.5 1.3 1.1 0.5
Change in Working Capital (42.4) 0.8 (7.2) (2.9) (12.3) (9.0) 6.1 0.9 (13.1) (0.3) (12.2) (6.0) 17.1 1.4 4.5 (1.9) (4.8) 2.0 3.2 2.3 (9.8) (12.4) 20.9 8.1 (7.7) 6.4 (1.0) 0.6 (5.8) 3.2 (2.8) (0.7) (5.9) 0.1 1.1 0.5 (1.0) 3.7 (0.7) 2.0 0.0
Other Non-Cash Items 2.6 2.1 2.5 2.6 1.8 (1.1) (2.1) 0.3 (1.8) (6.0) 14.5 8.3 (2.5) 15.2 6.6 29.3 7.8 (7.3) 4.4 2.8 2.6 (0.1) (187.4) 0.0 (0.0) (0.1) 0.0 0.1 0.0 0.0 1.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Operating Cash Flow 34.3 65.0 86.0 52.6 38.5 36.6 57.8 50.9 43.0 31.2 36.8 (9.2) 1.6 6.1 16.0 5.5 (2.2) 8.9 15.8 15.1 (4.4) 3.1 17.8 24.3 3.1 15.5 11.6 11.5 0.3 11.7 9.5 11.7 3.3 7.8 9.7 8.1 3.8 6.8 2.3 3.1 (0.7)
Investing Activities
Capital Expenditure (0.2) (1.3) (2.3) (0.3) (0.2) (0.2) (1.9) (1.4) (2.5) (3.1) (3.8) (1.4) (2.0) (0.6) (0.8) (3.3) (1.8) (2.9) (2.4) (1.9) (0.9) (8.8) (2.2) (6.3) (14.8) (9.3) (7.9) (6.2) (5.7) (3.7) (4.7) (2.9) (3.2) (2.9) (3.7) (2.7) (3.4) (3.3) (3.8) (4.2) (4.1)
Acquisitions 0 0 0 0 (0.9) (77.4) 0 0 0 28.7 0 0 0.6 0 5.1 0 0 0.4 0 0 0 (191.4) 191.4 0 6.8 (5.3) 6.2 4.8 (54.0) (14.4) 3.5 2.6 2.9 2.4 2.8 (2.3) 3.0 2.6 3.4 3.0 2.2
Purchases of Investments (42.7) (62.3) (102.5) (76.7) (62.3) (51.9) (113.8) (94.4) (57.2) (86.8) (35.3) (72.3) (1.3) (8.9) (25.5) (21.6) (23.3) (74.2) (18.7) (49.3) (99.0) (14.0) (16.5) (12.7) (0.6) (14.5) (10.0) (0.7) 4.7 (0.7) (8.0) (5.3) (15.6) (9.1) (2) (9.1) (6.5) (7.2) (7.6) (7.3) (9.4)
Sales/Maturities of Investments 182.5 42.4 32.8 101.6 144.9 86.3 69.3 57.8 36.7 58.1 44.6 11.7 38.9 12.3 33.1 20.2 23.3 33.6 48.0 50.0 18.9 16.8 5.5 0.5 21.2 4.7 8 1.8 4 24.5 13.6 7.3 8.3 5.5 3.5 3.0 4.4 6.8 5.7 8.1 13.3
Other Investing Activities (1.3) (1.0) (0.9) (0.8) (0.6) (1.1) (1.6) 0 0 (30.1) 0 0 (1.2) 0.0 0 0 0 12.5 0 0 0 191.4 0 0 (6.8) 5.4 (6.2) (4.8) (4.7) 14.4 (17.9) (2.6) (2.9) (2.4) (2.8) 2.3 (3.0) (2.6) (3.4) (3.0) (2.2)
Investing Cash Flow 138.3 (22.3) (72.0) 23.8 80.8 (44.3) (46.4) (38.0) (23.0) (33.2) 4.3 (62.9) 36.3 (1.4) 8.6 (8.4) (5.3) (36.7) 20.3 (6.9) (87.2) (6.0) 171.3 (24.4) 5.7 (19.1) (10.0) (5.1) (55.7) 20.1 (13.5) (0.8) (10.5) (6.5) (2.2) (8.7) (5.5) (3.7) (5.7) (3.5) (0.1)
Financing Activities
Net Debt Issuance 0 (4.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (97.2) (0.3) 48.7 (0.3) (0.3) (0.3) (0.3) 50 0 0 0 0 0 0 0 (0.0) (0.0) (0.0) (0.0)
Stock Repurchased (125.0) 0 1.0 (50.0) (95.8) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1.2) 0 0 (4.2) (0.6) (0.8) (3.4) (1.3) (21.8) (0.4) (1.6) (0.9) (0.2) (0.3) (0.1) (1.2) (0.0) (0.1) 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (8.2) 138.2 (12.3) (10.0) (9.1) (12.2) (8.6) (12.4) (14.1) (8.8) (6.5) (7.7) (4.7) (3.1) (2.0) (4.5) (1.1) (0.7) (0.4) (4.9) (4.0) 0.4 (1.3) (3.2) (5.9) 0.3 (0.7) (3.4) (1.6) 0.3 (0.3) (1.4) (0.4) (0.0) (0.1) 0.1 (1.1) 0.1 0.0 0.1 0.1
Financing Cash Flow (132.2) (11.8) (11.4) (59.9) (104.8) (12.2) (8.6) (12.4) (10.2) (8.4) (5.8) (7.0) (4.7) (1.2) (0.0) (4.0) (1.0) 1.2 (0.3) (4.4) (3.9) (0.8) (98.4) (3.3) 32.2 (0.6) (1.0) (3.7) (1.9) 28.5 (0.3) (1.4) (0.4) (0.0) (0.1) 0.1 (1.1) 0.1 0.0 0.1 0.1
Cash Position
Net Change in Cash 40.4 30.9 2.6 16.5 14.4 (19.9) 2.8 0.4 9.7 (10.4) 35.2 (79.2) 33.2 3.5 24.6 (6.9) (8.3) (26.6) 35.8 3.9 (95.5) (3.8) 90.7 (3.5) 41.0 (4.3) 0.6 2.7 (57.3) 60.3 (4.3) 9.5 (7.6) 1.3 7.4 (0.6) (2.7) 3.1 (3.4) (0.3) (0.8)
Cash at Beginning 107.2 76.3 73.7 57.2 42.8 62.7 59.9 59.5 49.5 60.2 24.7 103.9 71.0 67.2 42.6 49.5 57.8 84.4 48.6 44.7 140.3 144.5 53.3 56.8 16.2 20.6 19.9 17.2 74.5 14.2 18.4 9.0 16.5 14.8 7.4 8.0 10.7 7.6 11.0 11.3 12.1
Cash at End 147.7 107.2 76.3 73.7 57.2 42.8 62.7 59.9 59.5 49.8 59.9 24.7 104.2 70.8 67.2 42.6 49.5 57.8 84.4 48.6 44.7 140.7 144.0 53.3 57.2 16.2 20.6 19.9 17.2 74.5 14.2 18.4 9.0 16.1 14.8 7.4 8.0 10.7 7.6 11.0 11.3
Free Cash Flow 34.1 63.7 83.7 52.4 38.2 36.4 55.8 49.4 40.4 28.1 33.0 (10.6) (0.4) 5.5 15.2 2.3 (4.1) 6.0 13.4 13.2 (5.4) (5.7) 15.6 18.0 (11.7) 6.1 3.7 5.4 (5.4) 8.0 4.9 8.8 0.1 4.9 6.0 5.3 0.4 3.5 (1.4) (1.1) (4.8)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1
Income Statement
Revenue 262.2 248.2 249.4 235.6 217.7 203.7 205.7 197.4 187.4 171.8 165.4 147.1 136.1 124.1 125.1 117.5 105.3 95.6 95.8 89.0 78.9 72.4 84.1 81.0 72.5 67.4 67.9 63.6 57.1 50.4 50.1 47.2 42.3 37.9 37.9 35.9 32.1 28.0 28.2 26.2 23.2 20.4 20.3 18.4 15.8 13.2 13.0 11.6 9.8
Gross Profit 167.2 152.5 157.9 151.7 138.2 122.1 134.1 123.1 117.6 110.6 102.7 89.2 79.9 73.7 74.4 70.0 61.9 56.5 57.1 56.2 45.6 42.5 51.3 53.6 43.5 41.0 42.0 38.5 32.9 30.4 30.8 29.5 25.7 23.4 23.9 22.2 19.1 16.8 16.5 15.0 12.7 10.9 11.0 10.3 8.8 6.8 7.0 6.1 5.1
Operating Income 50.7 43.6 35.0 40.5 33.8 23.0 42.6 36.0 34.1 28.2 (0.1) (0.7) (26.5) (20.0) (7.8) (29.9) (14.7) (7.3) (0.0) 1.1 (5.7) (2.8) 3.4 6.3 2.8 0.1 4.1 2.3 (0.1) 2.7 5.5 7.3 4.2 2.4 3.6 2.8 0.6 (1.3) (1.2) (2.3) (3.6) (4.0) (4.3) (3.2) (3.5) (4.6) (1.3) (1.5) (1.2)
Net Income 42.4 39.9 33.6 36.0 31.4 102.7 33.0 29.7 38.7 30.3 26.4 (18.9) (35.1) (19.7) (4.2) (30.0) (14.3) (1.3) (0.1) 2.0 0.5 (0.5) 137.7 19.3 2.0 4.4 5.0 23.2 3.7 2.6 5.5 7.5 4.3 2.6 3.7 2.8 0.7 (1.3) (1.1) (2.3) (3.6) (3.9) (4.8) (3.4) (3.6) (4.6) (1.3) (1.5) (1.2)
EPS (Diluted) 1.18 1.10 0.93 0.99 0.86 2.79 0.90 0.81 1.05 0.83 0.72 -0.53 -0.99 -0.56 -0.12 -0.86 -0.41 -0.04 -0.00 0.06 0.01 -0.01 3.86 0.54 0.06 0.12 0.14 0.65 0.11 0.07 0.16 0.21 0.12 0.07 0.10 0.08 0.02 -0.04 -0.03 -0.07 -0.11 -0.12 -0.14 -0.10 -0.11 -0.18 -0.05 -0.06 -0.05
Balance Sheet
Cash & Equivalents 147.4 107.2 76.3 73.7 57.2 42.8 62.7 59.9 59.5 49.5 59.9 24.7 103.9 70.8 67.2 42.6 49.5 57.8 84.4 48.6 44.7 140.3 144.0 53.3 56.8 15.8 20.1 19.5 16.8 74.1 13.7 18.0 8.5 16.1 14.8 7.4 8.0 10.7 7.6 11.0 11.3
Total Assets 580.6 722.3 640.5 567.4 564.7 626.7 523.3 479.3 438.8 408.9 378.6 351.4 370.7 381.2 384.9 375.4 400.0 408.0 407.4 399.1 378.7 389.5 386.3 320.4 293.4 260.1 233.8 226.1 200.6 175.7 136.2 124.0 114.1 110.2 105.7 99.6 92.9 92.6 89.0 89.8 89.6
Total Debt 37.0 71.4 39.2 39.6 40.7 41.7 41.5 43.3 44.3 44.7 44.2 42.6 48.4 53.6 57.1 57.5 57.0 57.6 58.3 55.5 41.4 42.0 34.8 133.0 134.2 84.7 72.3 71.7 72.6 49.8 0 0 0 0 0 0 0 0 0 0 0
Stockholders' Equity 470.2 542.6 498.9 455.6 462.1 519.3 412.8 371.4 339.2 297.3 262.7 226.0 240.6 265.5 271.9 265.0 288.7 297.4 291.7 287.3 285.8 285.9 284.5 144.5 124.9 131.9 125.4 118.2 95.1 91.8 108.4 101.0 92.5 85.1 80.7 75.2 70.5 69.7 69.5 69.1 70
Cash Flow
Operating Cash Flow 34.3 65.0 86.0 52.6 38.5 36.6 57.8 50.9 43.0 31.2 36.8 (9.2) 1.6 6.1 16.0 5.5 (2.2) 8.9 15.8 15.1 (4.4) 3.1 17.8 24.3 3.1 15.5 11.6 11.5 0.3 11.7 9.5 11.7 3.3 7.8 9.7 8.1 3.8 6.8 2.3 3.1 (0.7)
Capital Expenditure (0.2) (1.3) (2.3) (0.3) (0.2) (0.2) (1.9) (1.4) (2.5) (3.1) (3.8) (1.4) (2.0) (0.6) (0.8) (3.3) (1.8) (2.9) (2.4) (1.9) (0.9) (8.8) (2.2) (6.3) (14.8) (9.3) (7.9) (6.2) (5.7) (3.7) (4.7) (2.9) (3.2) (2.9) (3.7) (2.7) (3.4) (3.3) (3.8) (4.2) (4.1)
Free Cash Flow 34.1 63.7 83.7 52.4 38.2 36.4 55.8 49.4 40.4 28.1 33.0 (10.6) (0.4) 5.5 15.2 2.3 (4.1) 6.0 13.4 13.2 (5.4) (5.7) 15.6 18.0 (11.7) 6.1 3.7 5.4 (5.4) 8.0 4.9 8.8 0.1 4.9 6.0 5.3 0.4 3.5 (1.4) (1.1) (4.8)