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Side-by-side financial comparison of APPFOLIO INC (APPF) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
Paylocity Holding Corp is the larger business by last-quarter revenue ($387.0M vs $262.2M, roughly 1.5× APPFOLIO INC). APPFOLIO INC runs the higher net margin — 16.2% vs 13.0%, a 3.2% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 11.3%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs 2.7%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
APPF vs PCTY — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $387.0M |
| Net Profit | $42.4M | $50.2M |
| Gross Margin | — | 72.9% |
| Operating Margin | 19.4% | 18.2% |
| Net Margin | 16.2% | 13.0% |
| Revenue YoY | 20.4% | 11.3% |
| Net Profit YoY | 35.2% | 34.0% |
| EPS (diluted) | $1.18 | $0.92 |
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 | $387.0M | ||
| Q3 25 | $249.4M | $378.9M | ||
| Q2 25 | $235.6M | $369.9M | ||
| Q1 25 | $217.7M | $421.1M | ||
| Q4 24 | $203.7M | $347.7M | ||
| Q3 24 | $205.7M | $333.1M | ||
| Q2 24 | $197.4M | $324.7M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $50.2M | ||
| Q3 25 | $33.6M | $48.0M | ||
| Q2 25 | $36.0M | $48.6M | ||
| Q1 25 | $31.4M | $91.5M | ||
| Q4 24 | $102.7M | $37.5M | ||
| Q3 24 | $33.0M | $49.6M | ||
| Q2 24 | $29.7M | $48.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 72.9% | ||
| Q3 25 | — | 73.9% | ||
| Q2 25 | — | 73.5% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 72.6% | ||
| Q3 24 | — | 74.4% | ||
| Q2 24 | — | 74.0% |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 18.2% | ||
| Q3 25 | 14.1% | 19.6% | ||
| Q2 25 | 17.2% | 17.9% | ||
| Q1 25 | 15.5% | 30.2% | ||
| Q4 24 | 11.3% | 13.4% | ||
| Q3 24 | 20.7% | 19.3% | ||
| Q2 24 | 18.3% | 19.4% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 13.0% | ||
| Q3 25 | 13.5% | 12.7% | ||
| Q2 25 | 15.3% | 13.1% | ||
| Q1 25 | 14.4% | 21.7% | ||
| Q4 24 | 50.4% | 10.8% | ||
| Q3 24 | 16.0% | 14.9% | ||
| Q2 24 | 15.0% | 15.0% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.92 | ||
| Q3 25 | $0.93 | $0.86 | ||
| Q2 25 | $0.99 | $0.87 | ||
| Q1 25 | $0.86 | $1.61 | ||
| Q4 24 | $2.79 | $0.66 | ||
| Q3 24 | $0.90 | $0.88 | ||
| Q2 24 | $0.81 | $0.85 |
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 | $162.5M |
| Total DebtLower is stronger | — | $81.3M |
| Stockholders' EquityBook value | $470.2M | $1.1B |
| Total Assets | $580.6M | $7.0B |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $162.5M | ||
| Q3 25 | $76.1M | $165.2M | ||
| Q2 25 | $73.5M | $398.1M | ||
| Q1 25 | $56.9M | $477.8M | ||
| Q4 24 | $42.5M | $482.4M | ||
| Q3 24 | $62.4M | $778.5M | ||
| Q2 24 | $59.6M | $401.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $81.3M | ||
| Q3 25 | — | $81.3M | ||
| Q2 25 | — | $162.5M | ||
| Q1 25 | — | $243.8M | ||
| Q4 24 | — | $325.0M | ||
| Q3 24 | — | $325.0M | ||
| Q2 24 | — | $0 |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $1.1B | ||
| Q3 25 | $498.9M | $1.1B | ||
| Q2 25 | $455.6M | $1.2B | ||
| Q1 25 | $462.1M | $1.2B | ||
| Q4 24 | $519.3M | $1.2B | ||
| Q3 24 | $412.8M | $1.1B | ||
| Q2 24 | $371.4M | $1.0B |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $7.0B | ||
| Q3 25 | $640.5M | $4.2B | ||
| Q2 25 | $567.4M | $4.4B | ||
| Q1 25 | $564.7M | $5.2B | ||
| Q4 24 | $626.7M | $5.3B | ||
| Q3 24 | $523.3M | $4.0B | ||
| Q2 24 | $479.3M | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 0.00× |
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 | $117.0M |
| Free Cash FlowOCF − Capex | — | $113.6M |
| FCF MarginFCF / Revenue | — | 29.4% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | 0.81× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | $461.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $117.0M | ||
| Q3 25 | $86.0M | $86.5M | ||
| Q2 25 | $52.6M | $86.6M | ||
| Q1 25 | $38.5M | $186.0M | ||
| Q4 24 | $36.6M | $54.2M | ||
| Q3 24 | $57.8M | $91.5M | ||
| Q2 24 | $50.9M | $79.9M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $113.6M | ||
| Q3 25 | $84.7M | $82.7M | ||
| Q2 25 | $52.4M | $81.1M | ||
| Q1 25 | $38.2M | $183.7M | ||
| Q4 24 | $36.4M | $51.2M | ||
| Q3 24 | $57.4M | $89.1M | ||
| Q2 24 | $50.8M | $73.6M |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | 29.4% | ||
| Q3 25 | 34.0% | 21.8% | ||
| Q2 25 | 22.2% | 21.9% | ||
| Q1 25 | 17.6% | 43.6% | ||
| Q4 24 | 17.9% | 14.7% | ||
| Q3 24 | 27.9% | 26.8% | ||
| Q2 24 | 25.8% | 22.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.9% | ||
| Q3 25 | 0.5% | 1.0% | ||
| Q2 25 | 0.1% | 1.5% | ||
| Q1 25 | 0.1% | 0.5% | ||
| Q4 24 | 0.1% | 0.9% | ||
| Q3 24 | 0.2% | 0.7% | ||
| Q2 24 | 0.0% | 1.9% |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 2.33× | ||
| Q3 25 | 2.56× | 1.80× | ||
| Q2 25 | 1.46× | 1.78× | ||
| Q1 25 | 1.23× | 2.03× | ||
| Q4 24 | 0.36× | 1.45× | ||
| Q3 24 | 1.75× | 1.84× | ||
| Q2 24 | 1.71× | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APPF
| Value Added Services | $164.7M | 63% |
| Subscription Services | $58.2M | 22% |
| Other | $39.3M | 15% |
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
