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Jun 30, 2023
Appfolio Q2 2023 Earnings Report
Revenue increased by 25% due to a customer-centric strategy and increased operational efficiency.
Key Takeaways
AppFolio's Q2 2023 financial results showed a 25% revenue increase to $147.1 million compared to the same quarter last year. The company's GAAP loss from operations improved significantly, and non-GAAP income from operations also saw a substantial increase.
Total revenue reached $147.1 million, a 25% increase year-over-year.
Total units on the AppFolio Property Manager platform increased to approximately 7.7 million.
GAAP loss from operations improved to ($0.7 million) from ($29.9 million) in the same quarter of 2022.
Non-GAAP income from operations increased to $9.4 million from $1.2 million in the same quarter of 2022.
Appfolio
Appfolio
Forward Guidance
AppFolio's outlook for fiscal year 2023 includes revenue, non-GAAP operating margin, and non-GAAP free cash flow margin.
Positive Outlook
- Full year revenue is expected to be in the range of $592 million to $598 million.
- Full year non-GAAP operating margin as a percentage of revenue is expected to be in the range of 5.5% to 6.5%.
- Full year non-GAAP free cash flow margin as a percentage of revenue is expected to be in the range of 6% to 7%.
- Weighted average shares outstanding are expected to be approximately 36 million for the full year.