Welcome to our dedicated page for AppFolio news (Ticker: APPF), a resource for investors and traders seeking the latest updates and insights on AppFolio stock.
AppFolio, Inc. (NASDAQ: APPF) is a renowned cloud-based technology platform tailored specifically for the real estate industry, headquartered in Santa Barbara, California. Founded in 2006 by Klaus Schauser and Jon Walker, AppFolio aims to revolutionize how small and medium-sized businesses manage their operations through powerful and user-friendly software solutions. The company offers a comprehensive suite of products and services designed to enhance the marketing, management, and growth potential of property management and legal businesses.
At the heart of AppFolio’s offerings is the AppFolio Property Manager, an all-encompassing property management software that provides property managers with end-to-end solutions. This includes a variety of essential services such as tenant screening, risk mitigation, and electronic payments. AppFolio's technology enables property managers to streamline workflows, unlock critical insights, and significantly boost productivity.
Recently, AppFolio has made significant strides in advancing its AI capabilities, launching AppFolio Realm, a holistic suite of AI-powered features designed to make property management more efficient and intuitive. This includes Realm-X, a conversational interface leveraging generative AI to automate tasks and streamline processes in leasing, maintenance, and accounting. Additionally, new innovations such as AI-driven marketing descriptions and a conversational interface pilot program highlight AppFolio's commitment to integrating cutting-edge technology to enhance user experience.
AppFolio is also expanding its impact in the affordable housing sector with solutions tailored to HUD Project-Based Section 8 rental assistance and Low-Income Housing Tax Credit properties. The company's dedication to operational efficiency and compliance solidifies its position as a leader in managing both market rate and affordable housing units on a single platform.
The company's overall growth is reflected in its financial performance. As of the latest quarterly report, AppFolio recorded a 39% year-over-year increase in revenue, amounting to $171.8 million, and an 18.2% operating margin. These robust financial metrics underscore AppFolio's ongoing commitment to innovation and customer-centric strategies, paving the way for continued success and market leadership.
With offices in Santa Barbara, Dallas, and San Diego, AppFolio is built for long-term success and supported by a dedicated team that values customer feedback and innovation. The company continues to expand its AppFolio Stack Marketplace, which now features nearly 30 partners, further enhancing the platform’s capabilities and providing customers with a competitive edge through seamless integrations and specialized solutions.
AppFolio (NASDAQ:APPF) announced that Reedy & Company, a Memphis-based property management company, has signed a five-year contract to integrate AppFolio's suite of products across its portfolio of over 3,500 properties. Reedy selected AppFolio Property Manager Max for its AI capabilities and innovative solutions, consolidating five previous systems into one comprehensive platform. The implementation includes key features like Leasing CRM, Leasing Signals, and Database API. AppFolio recently launched FolioSpace, a next-generation resident experience platform, and enhanced Realm-X, its generative AI solution.
AppFolio (NASDAQ: APPF) announced major developments at FUTURE 2024 conference, including the general availability of AppFolio Realm-X AI capabilities. The AI-powered solution saves property managers over 10 hours weekly, with users sending nearly 500,000 Realm-X-generated messages in the past 30 days. The company also previewed FolioSpace, a next-generation resident experience platform, and unveiled new features including Bill Approval Flows, Smart Maintenance Billing, Box Score Report, and Document Verification tools. The conference attracted 2,000 attendees and showcased innovations in property operations, student housing, and resident experience management.
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.
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