Appfolio Stock Price, News & Analysis

AppFolio (NASDAQ: APPF) reported strong Q3 2024 financial results with revenue growing 24% year-over-year to $206 million. Total units under management increased 9% to 8.5 million. The company achieved GAAP operating income of $43 million (20.7% of revenue) compared to no operating loss in Q3 2023. Non-GAAP operating income was $59 million (28.7% of revenue). The company acquired LiveEasy, a concierge platform for resident onboarding services. AppFolio updated its full-year 2024 guidance, expecting revenue between $786-790 million and non-GAAP operating margin of 24.5-25.5%. CFO Fay Sien Goon will depart on October 25, 2024, with Tim Eaton appointed as interim CFO.

AppFolio (NASDAQ: APPF) has unveiled FolioSpace™, a next-generation resident experience platform designed to enhance property manager-renter connections. The company also announced the acquisition of LiveEasy for approximately $80 million to integrate moving and home services into FolioSpace. The platform offers features including resident application & screening, digital onboarding, services marketplace, and an AI-powered resident inbox. FolioSpace aims to streamline property management operations for AppFolio's 20,000 customers by replacing manual processes with digital workflows. The integration of LiveEasy will provide residents with dedicated support for utilities setup and moving services.

AppFolio, Inc. (NASDAQ: APPF) has announced its upcoming third quarter 2024 financial results conference call. The company will release its financial results after the U.S. financial markets close on Thursday, October 24, 2024. A conference call is scheduled for the same day at 5:00 p.m. Eastern Time to discuss the company's financial results and business outlook.

Interested parties can access the live webcast of the call at https://edge.media-server.com/mmc/p/56effhwx. For those who prefer to join by phone, registration is available at https://register.vevent.com/register/BI0592d6d11ce14a179afe199e2d07039c. A replay of the webcast will be available for a time on AppFolio's Investor Relations website.

AppFolio also reminds investors that it uses its Investor Relations website to disclose material nonpublic information and comply with Regulation FD disclosure obligations.

AppFolio (NASDAQ: APPF) announced the speaker lineup for FUTURE: The Real Estate Conference, scheduled for October 28-30, 2024 in San Diego, CA. The event will feature more than 45 sessions led by over 60 industry speakers, including keynotes from New York Times #1 Best-Selling Author Daniel Pink and Three-Time Olympic Gold Medalist Kerri Walsh Jennings.

The conference aims to provide real estate professionals with insights on industry innovations, AI, affordable housing, and resident experience transformation. Attendees will have access to new proptech solutions, networking opportunities, and hands-on training sessions. Notable speakers include AppFolio CEO Shane Trigg, SVP of Product Kyle Triplett, and representatives from organizations like the National Multifamily Housing Council and Amazon Web Services.

The event will also feature a musical performance by Boyz II Men and is sponsored by various companies in the real estate technology sector.

AppFolio's 2024 Property Manager Renter Preferences Report reveals key insights for property managers in a competitive rental market. Nearly one million new apartment units are expected by 2025, highlighting the need for innovation to meet modern renter expectations. Key findings include:

1. 30% of renters search for rentals on property websites, emphasizing the importance of a strong online presence.
2. 95% of respondents value clear and transparent listings.
3. 76% of renters expect responses within 24 hours.
4. Gen Z and Millennials prioritize online portals and smart home technology.
5. 46% of respondents intend to renew their current lease.
6. Satisfied renters are 25% less likely to move and more likely to recommend their property managers.

The report underscores the critical role of technology in enhancing resident experiences and operational efficiency for property managers.

AppFolio (NASDAQ: APPF), a leading real estate technology company, has appointed Marcy Campbell as its new Chief Revenue Officer, effective August 12, 2024. In this newly created role, Campbell will oversee Sales and Client Services, focusing on enhancing customer acquisition, value delivery, and product adoption. With over 30 years of experience in leading sales and services teams, Campbell joins AppFolio from Boomi, where she served as Chief Revenue Officer. She previously held senior leadership positions at PayPal, managing large global teams across key business units.

AppFolio's President and CEO, Shane Trigg, expressed confidence that Campbell's expertise and customer-centric approach will accelerate the company's vision of powering the future of real estate. Campbell stated her enthusiasm for joining AppFolio's mission and her commitment to delivering exceptional customer experiences while scaling the business.

AppFolio, Inc. (NASDAQ: APPF) reported strong Q2 2024 financial results, with revenue growing 34% year-over-year to $197.4 million. The company's total units under management increased by 9% to 8.4 million. GAAP operating income improved significantly to $36.0 million (18.3% of revenue), compared to a loss in Q2 2023. Non-GAAP operating income rose to $51.4 million (26.0% of revenue).

AppFolio's financial outlook for fiscal year 2024 projects full-year revenue between $772 million and $778 million, with non-GAAP operating margin expected to be 23.5% to 24.5%. The company's focus on AI adoption and mixed portfolio offerings is driving business transformation for its customers in the real estate industry.

AppFolio (NASDAQ: APPF) announced it will disclose its Q2 2024 financial results on July 25, 2024, after U.S. markets close. The company plans to host a conference call the same day at 5:00 p.m. ET to discuss its financial performance and business outlook. A live webcast will be available, along with a replay on AppFolio's Investor Relations site. Investors are encouraged to follow the Investor Relations website for updates.

Livly and AppFolio (NASDAQ: APPF) have announced a strategic partnership aimed at enhancing multifamily property management. This collaboration will integrate Livly's resident engagement tools with AppFolio's property management software. Key benefits include a unified app for residents, AI-powered tools for property managers to improve efficiency, and advanced analytics for data-driven decisions. The partnership will launch in Q3 2024, with features such as a centralized resident portal, AI-driven leasing, amenity management, and package solutions. This move is seen as a significant advancement for both companies in the prop tech industry.