AppFolio Investor Day Presentation Deck
Powering the Future of the Real Estate Industry
© 2023 AppFolio Investor Meeting
82
GAAP to
Non-GAAP
Reconciliation
FREE CASH FLOW MARGIN
GAAP net cash provided by operating activities as a
percentage of revenue
Purchases of property and equipment as a percentage of
revenue
Capitalized software development costs as a percentage of
revenue
Non-recurring expenses paid related to the sale of MyCase
as a percentage of revenue
Legal costs and insurance recoveries as a percentage of
revenue
CEO separation costs payment as a percentage of revenue
Partial lease termination payment as a percentage of
revenue
Severance payments for workforce reduction as a
percentage of revenue
Non-GAAP free cash flow margin
2021
9.8%
(2.3%)
(6.8%)
2.2%
0.7%
- %
- %
%
3.6%
2022
5.4%
(1.4%)
(3.1%)
I
%
-
%
%
- %
%
0.9%
2023
9.0%
(1.7%)
(0.7%)
I
%
%
3.4%
(0.6%)
1.6%
11.0%
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