Northpoint Asset Management selects AppFolio to power operations

SALT LAKE CITY - Northpoint Asset Management has selected AppFolio (NASDAQ:APPF), the $8.8 billion market cap property management software company, to power its property management operations, according to a press release statement issued Wednesday. AppFolio has demonstrated robust financial health, with InvestingPro data showing impressive revenue growth of 22.7% over the last twelve months.

Northpoint, a full-service property management company headquartered in Salt Lake City, manages over 8,000 single and multifamily rental units representing more than $5 billion in real estate assets across the United States. AppFolio’s strong liquidity position, with a current ratio of 4.64, suggests it’s well-equipped to support large-scale clients like Northpoint. For deeper insights into AppFolio’s financial metrics and growth potential, investors can access the comprehensive Pro Research Report available on InvestingPro.

The company has implemented AppFolio Property Manager Max, an enterprise-grade solution designed for large residential operators. Northpoint cited the need for a platform that could unify data, streamline operations, and deliver real-time insights to property owners as key factors in their decision.

"It’s essential that our tools evolve with us as we expand our geographic footprint and portfolio," said Adam Haleck, CEO at Northpoint Asset Management. "AppFolio will free our team from task-based silos, allowing us to focus on holistic outcomes."

Northpoint, which operates in more than 40 office locations across the country, manages properties for thousands of clients including institutional investors.

Marcy Campbell, Chief Revenue Officer at AppFolio, stated that the company is "excited to help Northpoint harness the full performance potential of their operations."

AppFolio’s AI-native product suite, called AppFolio Realm, includes embedded generative AI capabilities. The company recently announced AppFolio Realm-X Performers, which allows property managers to delegate entire workflows through AI.

The implementation has already been completed, with Haleck describing the transition to AppFolio as "a seamless experience."

In other recent news, AppFolio reported its first-quarter 2025 earnings, which slightly missed analysts’ forecasts. The company posted an earnings per share (EPS) of $1.21, falling short of the expected $1.23, and reported revenue of $218 million compared to the forecasted $220.94 million. Despite this, AppFolio achieved a 16% year-over-year revenue growth, driven by strong performance in core solutions and value-added services. The company’s non-GAAP operating margin decreased to 24.3% from 25.7% the previous year, indicating some pressure on profitability. Additionally, AppFolio introduced Realm-X Performers, a set of AI agents aimed at automating complex property management workflows, which were unveiled at the NAA Apartmentalize 2025 conference. These AI agents are designed to enhance productivity and performance in property management tasks. Furthermore, AppFolio announced a strategic partnership with Second Nature to enhance the resident experience, offering a suite of services through the AppFolio Stack Partner ecosystem. The company also plans to showcase further innovations at its FUTURE conference in October 2025.

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