Appfolio Q2 2024 Earnings Report
Key Takeaways
AppFolio announced strong Q2 2024 financial results, with revenue growing 34% year-over-year to $197.4 million. GAAP operating income was $36.0 million, a significant improvement from the previous year's operating loss. The company's non-GAAP operating income also saw substantial growth, reaching $51.4 million.
Revenue increased by 34% year-over-year, reaching $197.4 million.
Total units under management grew by 9% year-over-year, totaling 8.4 million.
GAAP operating income significantly improved to $36.0 million, representing 18.3% of revenue.
Non-GAAP operating income rose to $51.4 million, accounting for 26.0% of revenue.
Appfolio
Appfolio
Forward Guidance
AppFolio anticipates full year revenue to be in the range of $772 million to $778 million. They also expect the full year non-GAAP operating margin to be between 23.5% and 24.5%, and the full year non-GAAP free cash flow margin to be between 22% and 24%.
Positive Outlook
- Full year revenue is expected to be in the range of $772 million to $778 million.
- Full year non-GAAP operating margin as a percentage of revenue is expected to be in the range of 23.5% to 24.5%.
- Full year non-GAAP free cash flow margin as a percentage of revenue is expected to be in the range of 22% to 24%.
- Diluted weighted average shares outstanding are expected to be approximately 37 million for the full year.