Appfolio Q2 2022 Earnings Report
Key Takeaways
AppFolio's Q2 2022 financial results showed strong revenue growth of 32% compared to the previous year, driven by the company's focus on delivering property management solutions and expanding its customer base. The company also launched AppFolio Stack, a new integration marketplace, as part of its strategy to serve larger customers and expand Value Added Services.
Total revenue was $117.4 million, a 32% increase from Q2 2021.
Units served on the AppFolio Property Manager platform increased to approximately 6.8 million.
GAAP loss from operations was $29.9 million, or 25% of revenue.
AppFolio Stack, a new integration marketplace, was launched.
Appfolio
Appfolio
Forward Guidance
AppFolio provided its outlook for fiscal year 2022, with revenue expected to be in the range of $455 million to $461 million. The company anticipates that the full year non-GAAP operating margin as a percentage of revenue is expected to be in line with prior guidance and lower than in 2021. Weighted average shares outstanding are expected to be approximately 35 million for the full year.
Positive Outlook
- Full year revenue is expected to be in the range of $455 million to $461 million.
Challenges Ahead
- Full year non-GAAP operating margin as a percentage of revenue is expected to be lower than in 2021.