Q4 2024 Appfolio Inc Earnings Call Transcript
Key Points
- AppFolio Inc (APPF) reported a 19% year-over-year revenue growth in the fourth quarter, reaching $204 million.
- The company achieved a significant increase in its non-GAAP operating margin, more than doubling from 12% to 25% for the full year.
- AppFolio Inc (APPF) successfully integrated its acquisition of LiveEasy, which is expected to drive significant value for residents and property managers.
- The company has seen rapid adoption of its AI-powered capabilities, with over 1 million actions completed since launching Realex.
- AppFolio Inc (APPF) continues to win larger customers, with a notable increase in customers choosing its premium Plus and Max plans.
- The company's non-GAAP operating margin for the fourth quarter decreased to 20.2% from 24.3% the previous year.
- AppFolio Inc (APPF) experienced a sequential decline in revenue in the fourth quarter due to the seasonal nature of leasing activities.
- Sales and marketing expenses as a percentage of revenue increased from 12% to 15% in the fourth quarter, partly due to the LiveEasy acquisition.
- The high interest rate environment is expected to continue limiting current customers' ability to expand their portfolios in 2025.
- Cost of revenue increased to 37% of revenue in the fourth quarter, up from 35% last year, due to increased adoption of credit cards for payments.
Good afternoon and thank you for standing by. Welcome to AppFolio Inc.'s fourth quarter, 2024 financial results conference call. Please be advised that today's conference is being recorded and a replay will be available on at Folio's investor relations website.
I would now like to hand the conference over to Lori Barker, Investor Relations.
Thank you. Good afternoon, everyone. I'm Lori Barker, Investor Relations for at AppFolio and I'd like to thank you for joining us today as we report at Folio's fourth quarter and full year 2024. Financial results with me on the call today is Shane Trigg, AppFolio's President and CEO. This call is simultaneously being webcast on the investor relations section of our website at Polio Inc dotcom.
Before we get started, I would like to remind everyone about Folio's safe harbor policy comments made during this conference call and webcast contain forward-looking statements within the meaning of the private Securities Litigation Reform Act of 1,995 and are subject to
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