Financial Data and Key Metrics Changes - Fourth quarter revenue reached $248 million, a 22% year-over-year increase, while full-year revenue was $951 million, representing 20% year-over-year growth [4][15] - Non-GAAP operating margin for the fourth quarter was 24.9%, compared to 20.2% last year, and for the full year, it was 24.7%, down from 25.2% last year [17] - Core revenue, now referred to as subscription services revenue, was $56 million in the fourth quarter, a 17% year-over-year increase [15][16] Business Line Data and Key Metrics Changes - Subscription services revenue for the full year was $211 million, representing 17% growth year-over-year [16] - Fourth quarter revenue from value-added services grew 20% year-over-year to $185 million, driven by increased adoption of various services [16] - Full year value-added services revenue was $722 million, representing 19% growth year-over-year [17] Market Data and Key Metrics Changes - The company managed approximately 9.4 million units from 22,096 customers, compared to 8.7 million units from 20,784 customers a year ago, reflecting an 8% increase in units and a 6% increase in customers [16] - Adoption of premium tiers, Plus and Max, exceeded 25%, indicating success in capturing both SMB and upmarket customers [10] Company Strategy and Development Direction - The company focuses on three strategic pillars: Differentiate to Win, Deliver Performance Efficiently, and Great People and Culture [7][11][12] - The introduction of agentic AI capabilities aims to transform property management into performance management, enhancing customer workflows and operational efficiency [7][10] - The company is positioned to lead the transition towards a unified platform that reduces software fragmentation and enhances customer experience [6] Management's Comments on Operating Environment and Future Outlook - Management noted that while 81% of managers feel positive about the market, rising operating costs and pressure on occupancy rates remain challenges [5] - The 2026 financial outlook anticipates annual revenue between $1.1 billion and $1.12 billion, with a midpoint growth rate of 17% [19] - Management emphasized the importance of innovation and execution in achieving customer performance and maintaining a competitive edge [20] Other Important Information - The company ended 2025 with 1,702 employees, a 4% increase from the previous year, reflecting growth in various functional areas [18] - The company has been recognized on Forbes' America's Most Successful Mid-Cap Companies and Time Magazine's America's Growth Leaders, validating its strategic momentum [4] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.