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Investing.com -- AppFolio Inc. (NASDAQ:APPF), a technology provider for the real estate industry, reported second-quarter earnings and revenue that exceeded analyst expectations, while raising its full-year guidance. The company’s shares surged 6.3% following the announcement.
The property management software firm posted adjusted earnings per share of $1.38 for the second quarter, beating the analyst estimate of $1.27 by $0.11. Revenue came in at $236 million, surpassing the consensus estimate of $230.1 million and representing a 19% increase YoY.
"Our second quarter results reflect that we continue to win in the market," said Shane Trigg, President and CEO of AppFolio. "Our customers are seeing tangible performance benefits by adopting our central, AI-native platform, with 96% of customers having used one or more of our AI-powered solutions."
The company reported that total units under management grew 6% YoY to 8.9 million. GAAP operating income was $41 million, or 17.2% of revenue, compared to $36 million, or 18.3% of revenue in the second quarter of 2024. Non-GAAP operating income increased to $62 million, representing 26.2% of revenue.
Looking ahead, AppFolio raised its full-year 2025 revenue guidance to a range of $935-945 million, above the analyst consensus of $931.9 million. The company also expects full-year non-GAAP operating margin as a percentage of revenue to be between 24.5% and 26.5%.
Net cash provided by operating activities was $53 million, or 22.3% of revenue, compared to $51 million, or 25.8% of revenue, in the same period last year.
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