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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
Appfolio Revenue by Segment
Revenue by Segment
Core Solutions Revenue
CapyFin.comValue Added Services Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income