Loading...
•
Sep 30, 2024
Appfolio Q3 2024 Earnings Report
Appfolio's financial performance for Q3 2024 was reported, marked by revenue growth and strategic acquisitions.
Key Takeaways
AppFolio reported a strong Q3 2024 with a 24% increase in revenue year-over-year, reaching $206 million. Operating income also saw significant growth, and the company acquired LiveEasy to expand its resident services.
Revenue increased by 24% year-over-year, reaching $206 million.
Total units under management grew by 9% year-over-year to 8.5 million.
GAAP operating income was $43 million, representing 20.7% of revenue.
AppFolio acquired LiveEasy to enhance its resident application, FolioSpace™.
Revenue by Segment
Forward Guidance
AppFolio provided its outlook for fiscal year 2024.
Positive Outlook
- Full year revenue is expected to be in the range of $786 million to $790 million.
- Full year non-GAAP operating margin is expected to be in the range of 24.5% to 25.5%.
- Full year non-GAAP free cash flow margin 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.
- Acquisition of LiveEasy will improve the FolioSpace resident app.
Challenges Ahead
- Fay Sien Goon, the Company’s Chief Financial Officer, will depart AppFolio as of October 25, 2024.
- The company is searching for a new CFO.
- Forward-looking statements are subject to risks and uncertainties.
- Actual future results may be materially different from the results expressed or implied by these forward-looking statements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...