Loading...
•
Jun 30, 2024
Appfolio Q2 2024 Earnings Report
Reported a 34% increase in revenue and expanded profitability.
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
Appfolio Revenue by Segment
Revenue by Segment
Core Solutions Revenue
CapyFin.comValue Added Services Revenue
CapyFin.comOther Revenue
CapyFin.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income