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Side-by-side financial comparison of APPFOLIO INC (APPF) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $188.3M, roughly 1.4× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 16.2%, a 31.8% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs -21.9%). Over the past eight quarters, APPFOLIO INC's revenue compounded faster (15.3% CAGR vs -15.4%).
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
APPF vs RILY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $262.2M | $188.3M |
| Net Profit | $42.4M | $90.3M |
| Gross Margin | — | 79.5% |
| Operating Margin | 19.4% | 32.3% |
| Net Margin | 16.2% | 47.9% |
| Revenue YoY | 20.4% | -21.9% |
| Net Profit YoY | 35.2% | 1710.8% |
| EPS (diluted) | $1.18 | $2.78 |
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 | $188.3M | ||
| Q3 25 | $249.4M | $215.3M | ||
| Q2 25 | $235.6M | $188.2M | ||
| Q1 25 | $217.7M | $197.2M | ||
| Q4 24 | $203.7M | $241.0M | ||
| Q3 24 | $205.7M | $225.5M | ||
| Q2 24 | $197.4M | $256.0M |
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | $90.3M | ||
| Q3 25 | $33.6M | $91.1M | ||
| Q2 25 | $36.0M | $139.5M | ||
| Q1 25 | $31.4M | $-10.0M | ||
| Q4 24 | $102.7M | $-5.6M | ||
| Q3 24 | $33.0M | $-284.4M | ||
| Q2 24 | $29.7M | $-433.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 79.8% | ||
| Q3 24 | — | 82.1% | ||
| Q2 24 | — | 84.5% |
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 32.3% | ||
| Q3 25 | 14.1% | 30.4% | ||
| Q2 25 | 17.2% | 5.7% | ||
| Q1 25 | 15.5% | -31.2% | ||
| Q4 24 | 11.3% | -69.2% | ||
| Q3 24 | 20.7% | -36.4% | ||
| Q2 24 | 18.3% | -90.8% |
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | 47.9% | ||
| Q3 25 | 13.5% | 42.3% | ||
| Q2 25 | 15.3% | 74.1% | ||
| Q1 25 | 14.4% | -5.1% | ||
| Q4 24 | 50.4% | -2.3% | ||
| Q3 24 | 16.0% | -126.1% | ||
| Q2 24 | 15.0% | -169.4% |
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $2.78 | ||
| Q3 25 | $0.93 | $2.91 | ||
| Q2 25 | $0.99 | $4.50 | ||
| Q1 25 | $0.86 | $-0.39 | ||
| Q4 24 | $2.79 | $-0.01 | ||
| Q3 24 | $0.90 | $-9.39 | ||
| Q2 24 | $0.81 | $-14.35 |
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 | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $470.2M | $-171.5M |
| Total Assets | $580.6M | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $226.6M | ||
| Q3 25 | $76.1M | $184.2M | ||
| Q2 25 | $73.5M | $267.4M | ||
| Q1 25 | $56.9M | $138.3M | ||
| Q4 24 | $42.5M | $146.9M | ||
| Q3 24 | $62.4M | $159.2M | ||
| Q2 24 | $59.6M | $236.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $-171.5M | ||
| Q3 25 | $498.9M | $-260.5M | ||
| Q2 25 | $455.6M | $-351.7M | ||
| Q1 25 | $462.1M | $-496.8M | ||
| Q4 24 | $519.3M | $-488.2M | ||
| Q3 24 | $412.8M | $-497.6M | ||
| Q2 24 | $371.4M | $-218.3M |
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $1.7B | ||
| Q3 25 | $640.5M | $1.7B | ||
| Q2 25 | $567.4M | $1.5B | ||
| Q1 25 | $564.7M | $1.5B | ||
| Q4 24 | $626.7M | $1.8B | ||
| Q3 24 | $523.3M | $2.2B | ||
| Q2 24 | $479.3M | $3.2B |
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 | $26.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.81× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $26.2M | ||
| Q3 25 | $86.0M | $-60.6M | ||
| Q2 25 | $52.6M | $-25.6M | ||
| Q1 25 | $38.5M | $184.0K | ||
| Q4 24 | $36.6M | $-2.7M | ||
| Q3 24 | $57.8M | $19.5M | ||
| Q2 24 | $50.9M | $111.5M |
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | — | ||
| Q3 25 | $84.7M | — | ||
| Q2 25 | $52.4M | — | ||
| Q1 25 | $38.2M | — | ||
| Q4 24 | $36.4M | — | ||
| Q3 24 | $57.4M | — | ||
| Q2 24 | $50.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 22.2% | — | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 17.9% | — | ||
| Q3 24 | 27.9% | — | ||
| Q2 24 | 25.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.0% | — |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | 0.29× | ||
| Q3 25 | 2.56× | -0.66× | ||
| Q2 25 | 1.46× | -0.18× | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | — | ||
| 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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
