AppFolio Inc. (NASDAQ:APPF) Q3 2022 Earnings Conference Call October 27, 2022 5:00 PM ET

Company Participants

Lori Barker - Investor Relations

Jason Randall - President, Chief Executive Officer

Fay Sien Goon - Chief Financial Officer

Conference Call Participants

Operator

Good day, and thank you for standing by and welcome to AppFolio Q3 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Lori Barker, Investor Relations. Please go ahead.

Lori Barker

Thank you. Good afternoon, everyone. I am Lori Barker, Investor Relations for AppFolio and I'd like to thank you for joining us today as we report AppFolio's third quarter 2022 financial results.

With me on the call today are Jason Randall, AppFolio's President and CEO and Fay Sien Goon, AppFolio's Chief Financial Officer. This call is simultaneously being webcast on the Investor Relations section of our website at www.appfolioinc.com.

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 forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties. Any statement that refers to expectations, projections or other characterizations of future events, including financial projections, future market conditions or future product enhancements or development is a forward-looking statement. AppFolio's actual future results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in our SEC filings. AppFolio assumes no obligation to update any such forward-looking statements, except as required by law. For greater detail about our risks and uncertainties, please see filings with the SEC, including our Form 10-K for the year ended December 31, 2021, which was filed with the SEC on February 28, 2022, as well as the company's other filings with the SEC.

With that, I will turn the call over to Jason Randall, AppFolio's President and CEO. Jason, please go ahead.

Jason Randall

Thank you, Lori and welcome to everyone joining us for AppFolio's third quarter 2022 financial results. I am pleased to report that revenue was up 31% to $125 million in the third quarter and we now serve approximately 7.1 million units.

This marks two sequential quarters where we have added more than 1 million units on a year-over-year basis. We delivered growth across the business and revenue from payments continue to be especially strong. With inflationary pressures, it is an important time for our customers to continue investing in AppFolio solutions to save cost and increase efficiency.