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AppFolio shares have dropped ~20% after reporting Q2 results despite a strong beat-and-raise quarter. The company's outlook for the remainder of FY24 still looks conservative with plenty of deceleration baked in, creating an opportunity for upside surprises as the year goes on. AppFolio continues to move upmarket with more sophisticated product offerings for larger multifamily property managers.
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Revenue for Q2 2024 was $197.4 million, growing 34% year over year. AppFolio reported a GAAP operating income of $36 million, reversing an operating loss position from the previous year.
The headline numbers for AppFolio (APPF) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
AppFolio (APPF) came out with quarterly earnings of $1.12 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $0.23 per share a year ago.
SANTA BARBARA, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- AppFolio, Inc. (NASDAQ: APPF) (“AppFolio” or the “Company”), a technology leader powering the future of the real estate industry, today announced its financial results for the second quarter ended June 30, 2024.
AppFolio's (APPF) Q2 revenues are likely to have benefited from a strong demand environment, targeted marketing efforts and a focus on product enhancement, while enhanced operational efficiency may have aided profitability.
Here is how AppFolio (APPF) and Daktronics (DAKT) have performed compared to their sector so far this year.
SANTA BARBARA, Calif., July 11, 2024 (GLOBE NEWSWIRE) -- AppFolio, Inc. (NASDAQ: APPF) today announced that it will report its second quarter 2024 financial results after the close of the U.S. financial markets on Thursday, July 25, 2024.
AppFolio (APPF) reachead $247.96 at the closing of the latest trading day, reflecting a -0.37% change compared to its last close.