AppFolio, Inc. vs i3 Verticals, Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsVertical SaaS
Data as of Q2 2026
Summary Verdict
APPF: 2—IIIV: 3wins
Rule of 40
40.6APPF
42.3IIIV
check_circleIIIV leads
Revenue Growth
29.5%APPF
17.7%IIIV
check_circleAPPF leads
Gross Margin
87%APPF
150%IIIV
check_circleIIIV leads
FCF Margin
11.2%APPF
24.6%IIIV
check_circleIIIV leads
Operating Margin
17.4%APPF
2.5%IIIV
check_circleAPPF leads
NRR
—APPF
—IIIV
Metric
Rule of 40Efficiency score
APPF
40.6
IIIV
42.3check_circle
Revenue GrowthYoY
APPF
29.5%check_circle
IIIV
17.7%
Gross Margin% of revenue
APPF
87%
IIIV
150%check_circle
FCF MarginFree cash flow
APPF
11.2%
IIIV
24.6%check_circle
Operating MarginGAAP
APPF
17.4%check_circle
IIIV
2.5%
NRRNet retention
APPF
N/A
IIIV
N/A
EV / RevenueValuation multiple
APPF
6.3x
IIIV
1.9xcheck_circle
Market CapUSD
APPF
$6.4Bcheck_circle
IIIV
$503.3M
ARR GrowthYoY
APPF
N/A
IIIV
N/A
CAC PaybackMonths to recover
APPF
N/A
IIIV
N/A
insights
Analysis
As of Q2 2026, AppFolio, Inc. trades at 6.3x EV/Revenue versus i3 Verticals, Inc. at 1.9x. On the Rule of 40, AppFolio, Inc. scores 40.6 compared to i3 Verticals, Inc.'s 42.3, placing i3 Verticals, Inc. ahead in operating efficiency. Gross margins stand at AppFolio, Inc. 87% vs i3 Verticals, Inc. 150%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.