Appfolio Stock Price, News & Analysis

AppFolio (NASDAQ: APPF) reported strong Q4 and fiscal year 2024 results, with Q4 revenue growing 19% year-over-year to $204 million and total units under management increasing 6% to 8.7 million. Q4 GAAP operating income was $23 million (11.3% of revenue), compared to $28 million in Q4 2023.

For fiscal year 2024, revenue grew 28% to $794 million, with GAAP operating income reaching $136 million (17.1% of revenue). The company's outlook for 2025 projects revenue between $920-940 million and non-GAAP operating margin between 24.5-26.5%.

The company highlighted its continued investments in AI and resident experience, which are driving customer outcomes and growth. Cash flow performance remained strong with Q4 operating cash flow at $37 million and full-year operating cash flow at $188 million.

AppFolio (NASDAQ: APPF) has announced its upcoming fourth quarter and year end 2024 financial results conference call, scheduled for Thursday, January 30, 2025, after U.S. financial markets close. The company will host a conference call at 5:00 p.m. Eastern Time to discuss financial results and business outlook.

A live webcast will be available, and investors can access the call through a registration link. A replay will be accessible for a time on AppFolio's Investor Relations website. The company also reminded investors to monitor their Investor Relations website for material nonpublic information disclosures in compliance with Regulation FD.

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.