AppFolio, Inc. reported strong financial results for the fourth quarter and fiscal year 2024, highlighting continued growth and innovation. The company’s revenue grew by 19% year-over-year in Q4, reaching $204 million, and by 28% for the full year, totaling $794 million.

Key financial metrics include a GAAP operating income of $23 million for Q4 and $136 million for the year, reflecting significant improvement from 2023. The company’s non-GAAP operating income for 2024 was $200 million, more than double the previous year’s $76 million.

Net cash provided by operating activities increased to $188 million for 2024, and non-GAAP free cash flow reached $182 million, demonstrating improved efficiency and profitability.

For 2025, AppFolio expects revenue between $920 million and $940 million, with a non-GAAP operating margin of 24.5% to 26.5%. CEO Shane Trigg emphasized the company’s focus on AI and enhancing the resident experience, which continues to drive customer growth and retention.