Q2 2026 Appfolio Inc Earnings Call Transcript
Key Points
- AppFolio Inc (APPF) reported a strong second quarter with revenue reaching $281 million, marking a 19% year-over-year increase.
- The company crossed $1 billion in revenue on a trailing 12-month basis for the first time.
- Units on platform grew to 9.6 million, reflecting an 8% increase from the previous year.
- AppFolio's premium tier adoption expanded significantly, with nearly one in three units now on a premium tier.
- The company raised its full-year revenue guidance, reflecting strong growth in premium tier adoption and increasing adoption of products and services.
- The cost of revenue, exclusive of depreciation and amortization, increased to 36% of revenue, up from 35% a year ago.
- Incremental data center capacity was required to support rising customer usage of AI capabilities, impacting operating efficiencies.
- Sales and marketing expenses rose modestly as a percentage of revenue due to increased presence at industry conferences.
- The company anticipates a more moderate pace of unit expansion among existing customers.
- Operating expenses are expected to decline only modestly as a percentage of revenue, despite selective hiring and AI-driven efficiency efforts.
Good day, and thank you for standing by. Welcome to the Appfolio, Inc.'s second quarter 2026 Financial Results Conference Call. Please be advised that today's conference is being recorded, and a replay will be available on Appfolio'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 Appfolio, and I'd like to thank you for joining us today as we report Appfolio's second quarter 2026 financial results. With me on the call today are Shane Trigg, Appfolio's Chairman and CEO, and Tim Eaton, Appfolio's CFO. This call is simultaneously being webcast on the Investor Relations section of our website at appfolioinc.com.
Additionally, an audio replay of the call and a transcript of the prepared comments will be posted to the website. Before we get started, I would like to remind everyone of Appfolio's Safe Harbor policy. Comments made during this conference call and webcast contain
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