AppFolio misses Q2 estimates as revenue falls short of $282.8M consensus

AppFolio reported Q2 revenue of $281.1 million, missing the $282.8 million consensus estimate by 0.6%.

The company did not provide management commentary with the preliminary release. AppFolio is scheduled to discuss the results on its quarterly earnings call with investors.

EPS of $1.71 missed the $1.72 analyst consensus by $0.01. The property management software provider did not disclose year-ago comparisons or segment-level operating data in the release.

The miss marks a rare shortfall for AppFolio. The company has not yet provided guidance for the current quarter. Investors will watch the earnings call for updated forward outlook and customer growth metrics.

The Q2 results come as the property management software sector sees increased adoption among multifamily operators. AppFolio's cloud-based platform provides tools for leasing, maintenance, accounting and tenant screening. The company's ability to grow its customer base and average revenue per user will be key areas of focus when full results are released.

This article is for informational purposes only and does not constitute investment advice.