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Side-by-side financial comparison of APPFOLIO INC (APPF) and loanDepot, Inc. (LDI). Click either name above to swap in a different company.
loanDepot, Inc. is the larger business by last-quarter revenue ($310.3M vs $262.2M, roughly 1.2× APPFOLIO INC). APPFOLIO INC runs the higher net margin — 16.2% vs -7.2%, a 23.4% gap on every dollar of revenue. On growth, loanDepot, Inc. posted the faster year-over-year revenue change (20.5% vs 20.4%). Over the past eight quarters, loanDepot, Inc.'s revenue compounded faster (18.0% CAGR vs 15.3%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
LoanDepot, sometimes stylized as loanDepot, is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products.
APPF vs LDI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $310.3M |
| Net Profit | $42.4M | $-22.5M |
| Gross Margin | — | — |
| Operating Margin | 19.4% | -10.3% |
| Net Margin | 16.2% | -7.2% |
| Revenue YoY | 20.4% | 20.5% |
| Net Profit YoY | 35.2% | 32.4% |
| EPS (diluted) | $1.18 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $262.2M | — | ||
| Q4 25 | $248.2M | $310.3M | ||
| Q3 25 | $249.4M | $323.3M | ||
| Q2 25 | $235.6M | $282.5M | ||
| Q1 25 | $217.7M | $273.6M | ||
| Q4 24 | $203.7M | $257.5M | ||
| Q3 24 | $205.7M | $314.6M | ||
| Q2 24 | $197.4M | $265.4M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $-22.5M | ||
| Q3 25 | $33.6M | $-4.9M | ||
| Q2 25 | $36.0M | $-13.4M | ||
| Q1 25 | $31.4M | $-21.9M | ||
| Q4 24 | $102.7M | $-33.2M | ||
| Q3 24 | $33.0M | $1.4M | ||
| Q2 24 | $29.7M | $-32.2M |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | -10.3% | ||
| Q3 25 | 14.1% | -3.2% | ||
| Q2 25 | 17.2% | -11.4% | ||
| Q1 25 | 15.5% | -16.8% | ||
| Q4 24 | 11.3% | -32.7% | ||
| Q3 24 | 20.7% | 1.1% | ||
| Q2 24 | 18.3% | -29.1% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | -7.2% | ||
| Q3 25 | 13.5% | -1.5% | ||
| Q2 25 | 15.3% | -4.7% | ||
| Q1 25 | 14.4% | -8.0% | ||
| Q4 24 | 50.4% | -12.9% | ||
| Q3 24 | 16.0% | 0.4% | ||
| Q2 24 | 15.0% | -12.1% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | — | ||
| Q3 25 | $0.93 | — | ||
| Q2 25 | $0.99 | — | ||
| Q1 25 | $0.86 | — | ||
| Q4 24 | $2.79 | — | ||
| Q3 24 | $0.90 | $0.01 | ||
| Q2 24 | $0.81 | $-0.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $147.4M | $337.2M |
| Total DebtLower is stronger | — | $2.1B |
| Stockholders' EquityBook value | $470.2M | $386.0M |
| Total Assets | $580.6M | $6.9B |
| Debt / EquityLower = less leverage | — | 5.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $337.2M | ||
| Q3 25 | $76.1M | $459.2M | ||
| Q2 25 | $73.5M | $408.6M | ||
| Q1 25 | $56.9M | $371.5M | ||
| Q4 24 | $42.5M | $421.6M | ||
| Q3 24 | $62.4M | $483.0M | ||
| Q2 24 | $59.6M | $533.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $386.0M | ||
| Q3 25 | $498.9M | $433.3M | ||
| Q2 25 | $455.6M | $439.1M | ||
| Q1 25 | $462.1M | $469.3M | ||
| Q4 24 | $519.3M | $506.6M | ||
| Q3 24 | $412.8M | $592.0M | ||
| Q2 24 | $371.4M | $578.9M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $6.9B | ||
| Q3 25 | $640.5M | $6.2B | ||
| Q2 25 | $567.4M | $6.2B | ||
| Q1 25 | $564.7M | $6.4B | ||
| Q4 24 | $626.7M | $6.3B | ||
| Q3 24 | $523.3M | $6.4B | ||
| Q2 24 | $479.3M | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.44× | ||
| Q3 25 | — | 4.83× | ||
| Q2 25 | — | 4.70× | ||
| Q1 25 | — | 4.30× | ||
| Q4 24 | — | 4.00× | ||
| Q3 24 | — | 3.31× | ||
| Q2 24 | — | 3.41× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $34.3M | $-638.7M |
| Free Cash FlowOCF − Capex | — | $-648.0M |
| FCF MarginFCF / Revenue | — | -208.9% |
| Capex IntensityCapex / Revenue | — | 3.0% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-734.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $-638.7M | ||
| Q3 25 | $86.0M | $43.4M | ||
| Q2 25 | $52.6M | $67.6M | ||
| Q1 25 | $38.5M | $-179.9M | ||
| Q4 24 | $36.6M | $47.7M | ||
| Q3 24 | $57.8M | $-349.2M | ||
| Q2 24 | $50.9M | $-278.3M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-648.0M | ||
| Q3 25 | $84.7M | $38.7M | ||
| Q2 25 | $52.4M | $61.4M | ||
| Q1 25 | $38.2M | $-186.7M | ||
| Q4 24 | $36.4M | $40.8M | ||
| Q3 24 | $57.4M | $-356.4M | ||
| Q2 24 | $50.8M | $-285.7M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -208.9% | ||
| Q3 25 | 34.0% | 12.0% | ||
| Q2 25 | 22.2% | 21.7% | ||
| Q1 25 | 17.6% | -68.2% | ||
| Q4 24 | 17.9% | 15.8% | ||
| Q3 24 | 27.9% | -113.3% | ||
| Q2 24 | 25.8% | -107.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 3.0% | ||
| Q3 25 | 0.5% | 1.5% | ||
| Q2 25 | 0.1% | 2.2% | ||
| Q1 25 | 0.1% | 2.5% | ||
| Q4 24 | 0.1% | 2.7% | ||
| Q3 24 | 0.2% | 2.3% | ||
| Q2 24 | 0.0% | 2.8% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 2.56× | — | ||
| Q2 25 | 1.46× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | -255.05× | ||
| Q2 24 | 1.71× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APPF
| Value Added Services | $201.4M | 77% |
| Subscription Services | $58.2M | 22% |
LDI
Segment breakdown not available.
