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Sep 30, 2020
Appfolio Q3 2020 Earnings Report
AppFolio's financial performance for Q3 2020 showed a strong increase in net income and revenue, driven by the sale of MyCase and continued growth in the real estate vertical.
Key Takeaways
AppFolio reported a significant increase in net income to $137.68 million and revenue of $84.09 million for the third quarter of 2020. The company completed the sale of MyCase for $193.0 million and continues to focus on its cloud-based solutions for the real estate vertical.
AppFolio's revenue increased to $84.09 million, compared to $67.94 million in Q3 2019.
Net income reached $137.68 million, a substantial increase from $4.98 million in the same quarter last year, primarily due to the sale of MyCase.
The company completed the sale of MyCase for $193.0 million on September 30, 2020.
AppFolio is focused on providing cloud-based business software solutions, services, and data analytics to the real estate vertical.
Forward Guidance
AppFolio did not provide updated full year revenue guidance for fiscal year 2020. Diluted weighted average shares are expected to be approximately 36 million for the full year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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