AppFolio reported a 29% increase in revenue for Q1 2023, reaching $136.1 million, driven by customer-centric innovation and up-market growth. The total units on the AppFolio Property Manager platform increased to 7.5 million. GAAP loss from operations was $26.5 million, while non-GAAP loss from operations was $2.1 million. The company's outlook for fiscal year 2023 includes revenue between $570 million and $580 million.
Revenue increased by 29% year-over-year, reaching $136.1 million.
Total units on the AppFolio Property Manager platform grew to approximately 7.5 million.
GAAP loss from operations was $26.5 million, or 19.5% of revenue.
Non-GAAP loss from operations was $2.1 million, or 1.6% of revenue.
AppFolio's outlook for fiscal year 2023, based on information available as of April 27, 2023, includes a full-year revenue range of $570 million to $580 million, a non-GAAP operating margin between 1% and 2%, and a non-GAAP free cash flow margin between 2.5% and 3.5%. Weighted average shares outstanding are expected to be approximately 36 million for the full year.
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