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Mar 31, 2022
Appfolio Q1 2022 Earnings Report
Surpassed $100 million in quarterly revenue, reflecting continued customer adoption and a growing unit base.
Key Takeaways
AppFolio announced its Q1 2022 financial results, surpassing $100 million in quarterly revenue for the first time. The company reported a 33% increase in revenue compared to Q1 2021 and an increase in units served to 6.57 million.
Total revenue for Q1 2022 was $105.3 million, a 33% increase from $78.9 million in Q1 2021.
Total units served on the AppFolio Property Manager platform increased to 6.57 million, up from 5.62 million in Q1 2021.
GAAP loss from operations in Q1 2022 was $14.7 million, or 14% of revenue.
Cash, cash equivalents, and investment securities totaled $173.8 million as of March 31, 2022.
Forward Guidance
AppFolio's outlook for fiscal year 2022, based on information available as of May 9, 2022, includes full year revenue expected to be in the range of $452 million to $460 million and full year non-GAAP operating margin as a percentage of revenue expected to be in-line with the first quarter of 2022.
Positive Outlook
- Full year revenue is expected to be in the range of $452 million to $460 million.
Challenges Ahead
- Full year non-GAAP operating margin as a percentage of revenue is expected to be in-line with the first quarter of 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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