AppFolio, Inc. Q1 FY2026 earnings call

AppFolio had a strong start in 2026 with Q1 revenue growth. AI is being leveraged across the business. Introduced RPM for real estate performance management. System of action: AI-powered realm suite with over 99% of customers using some form of it, AI actions up 7x YOY. System of record: AppFolio Stack with over 5 million units connected. System of growth: Focus on resident experience with high move-in attach rates. Strategic pillars: Differentiate to win, deliver performance efficiently, great people and culture. Customer examples like Hampton Management Associates and Newberry Living showcasing platform benefits.

First quarter revenue reached $262 million, a 20% year-over-year increase. Subscription services revenue grew 18% year-over-year to $58 million. Value-added services revenue grew 22% year-over-year to $201 million. Units under management grew to 9.5 million compared to 8.8 million a year ago. Customers grew to 22,520 from 21,105.

Raised annual revenue guidance to $1.110 - $1.125 billion with midpoint growth of 17.5%. Raised non-GAAP operating margin guidance to 26-28%. Anticipate revenue seasonality consistent with 2025. Diluted weighted average shares outstanding expected to be approximately 36 million for the full year.

Comments contain forward-looking statements subject to risks and uncertainties listed in SEC filings, including those in Form 10-K filed on February 5, 2026.