AppFolio, Inc. Announces First Quarter 2025 Financial Results

Core Insights - AppFolio reported strong new business growth in the first quarter of 2025, highlighting its commitment to innovation and customer service [2][3] - The company has connected its acquisition of LiveEasy with industry partners like Zillow and Second Nature to enhance its resident strategy [2] Financial Highlights - Revenue increased by 16% year-over-year to $218 million [6] - Total units under management grew by 6% year-over-year to 8.8 million [6] - GAAP operating income was $34 million, representing 15.5% of revenue, compared to 18.2% in Q1 2024 [6] - Non-GAAP operating income was $53 million, or 24.3% of revenue, down from 25.7% in Q1 2024 [6] - Net cash provided by operating activities was $38 million, or 17.7% of revenue, compared to $43 million, or 22.9% in Q1 2024 [6] Financial Outlook - Full year revenue is projected to be between $920 million and $940 million [6] - The company expects a non-GAAP operating margin of 24.5% to 26.5% for the full year [6] - A $300 million share repurchase program was authorized by the Board on April 23, 2025, replacing a previously reported $100 million program [4] Conference Call Information - A conference call to discuss the first quarter financial results was scheduled for April 24, 2025, at 2:00 p.m. PT [5] Company Overview - AppFolio is positioned as a technology leader in the real estate industry, focusing on enhancing operational efficiency and customer connections [8]