AppFolio, Inc. - APPF STOCK NEWS

Shane Trigg has been unanimously elected as the President and CEO of AppFolio, effective immediately, after previously serving as the General Manager for Real Estate. This transition follows the tenure of Jason Randall, who led the company since 2017 and will now act as a transition advisor until the end of March 2023. Trigg, with over 25 years of SaaS experience, aims to drive growth by enhancing AppFolio's cloud solutions for the real estate sector. The company has reaffirmed its financial outlook for 2023, indicating stable expectations moving forward.

AppFolio, Inc. (NASDAQ:APPF) has launched AppFolio Alpha™, an AI-powered investment management tool designed to streamline data collection and enhance decision-making for asset managers in the real estate sector. This solution aims to replace the manual data aggregation process, which often takes up to three months annually, with automated data normalization and visualization. Key features include error-free reporting, real-time performance metrics, and reduced operational overhead. Recent accolades for AppFolio include top rankings in the G2 Grid® for Real Estate Investment Management and receipt of SOC2 Type 2 Certification, underscoring its commitment to security and customer satisfaction.

AppFolio, Inc. (NASDAQ: APPF) reported a significant 31% revenue growth for fiscal year 2022, reaching $471.9 million, up from $359.4 million in 2021. In Q4 alone, revenue climbed to $124.1 million, a 30% increase year-over-year. Despite growth, the company reported a GAAP loss from operations of $20 million in Q4, up from $7.3 million in Q4 2021. Cash reserves stood at $185.2 million. For 2023, AppFolio anticipates revenue between $565 million to $575 million and a breakeven non-GAAP operating margin. The company emphasized a commitment to expanding its services for the real estate sector throughout the year.

AppFolio, Inc. (NASDAQ:APPF) released its first Property Management Benchmark Report, showcasing optimism in the property management sector despite concerns like inflation and hiring challenges. Key findings indicate that 52% of property managers plan to hire more staff, 81% expect revenue growth in 2023, and 72% foresee increases in net operating income (NOI). The report highlights opportunities for growth through expanding portfolios and enhancing customer service. However, nearly half of respondents noted inflation and delinquencies as primary concerns. The survey included nearly 5,000 U.S.-based property management employees, reflecting a strong outlook for the industry.

AppFolio, Inc. (NASDAQ: APPF) will report its financial results for Q4 and the full year of 2022 after U.S. markets close on January 26, 2023. The company will host a conference call to discuss these results and its business outlook at 5:00 p.m. ET on the same day. The call will be accessible via a live webcast. AppFolio encourages investors to monitor its Investor Relations website for material nonpublic information, adhering to Regulation FD.

AppFolio (NASDAQ: APPF) announced a 31% revenue increase for Q3 2022, totaling $125.1 million, up from $95.8 million in Q3 2021. The number of units served rose to 7.1 million, a significant growth from 6.0 million year-over-year. However, the company reported a GAAP loss from operations of $7.8 million, marking a shift from breakeven in the same quarter last year. Non-GAAP income from operations improved to $4.7 million. For fiscal 2022, full-year revenue is projected between $462 million and $466 million.

AppFolio, Inc. (NASDAQ: APPF) will report its Q3 2022 financial results on October 27, 2022, after U.S. market close. Following the announcement, a conference call is scheduled for the same day at 5:00 p.m. ET to discuss results and future outlook. Investors can access the call via a live webcast or by phone. AppFolio emphasizes the use of its Investor Relations website for disclosing material nonpublic information and regulatory compliance. The company provides cloud business management solutions specifically for the real estate sector.

AppFolio has launched new features and partnerships at its 10th annual Customer Conference, enhancing its Property Manager platform to better serve property managers and residents. The innovations include FolioGuard™ Security Deposit Alternative, which simplifies deposits; Report Builder, offering improved reporting capabilities; and Bank Feed, an AI-driven accounting tool. Additionally, AppFolio has integrated with seven new partners, expanding its AppFolio Stack™ marketplace, which boosts operational efficiency and enhances the resident experience.