AppFolio, Inc. (NASDAQ:APPF) Q3 2024 Results Conference Call October 24, 2024 5:00 PM ET

Company Participants

Lori Barker - Investor Relations
Shane Trigg - President & Chief Executive Officer
Fay Sien Goon - Chief Financial Officer

Operator

Good afternoon. Thank you for standing by, and welcome to AppFolio Inc.'s Third Quarter 2024 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.

Lori Barker

Thank you, Victor. Good afternoon, everyone. I'm Lori Barker, Investor Relations for AppFolio. I'd like to thank you for joining us today as we report AppFolio's third quarter 2024 financial results.

With me on the call today are Shane Trigg, 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 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, business performance or future product enhancements or development is a forward-looking statements. 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 risks and uncertainties, please see our SEC filings, including our Form 10-Ks for the year ended December 31, 2023, which was filed with the SEC on February 1, 2024. In addition, this call includes non GAAP financial measures.

Reconciliations of these non-GAAP financial measures with the most directly comparable GAAP measures are included in our third quarter earnings release, which has been posted to the Investor Relations section of our website.

With that, I'll turn the call over to Shane Trigg. Shane, please go ahead.

Shane Trigg

Thanks, Lori, and welcome to everyone joining us for AppFolio's third quarter 2024 financial results, results that demonstrate strong performance and reflect our relentless focus on customers.

Revenue was up 24% year-over-year to $206 million in the third quarter, while non-GAAP operating margin expanded to 29% and non-GAAP free cash flow margin grew to 27%. We continue to invest in innovation that builds the platform where the real estate industry comes to do business.