Menu
/REGISTER
PPB
Montecito
ROAM
Loading...
You are here:  Home  >  Banking & Finance  >  Tri-County Public Companies  >  Earnings  >  Current Article

AppFolio revenues grow, losses shrink

By   /   Monday, February 27th, 2017  /   Comments Off on AppFolio revenues grow, losses shrink

    Print       Email

AppFolio announced an increase in fourth quarter and full year revenues Feb. 27, decreasing its net losses per share by around a third compared to 2015.

The Goleta-based company’s revenues for the quarter ended Dec. 31 grew 37 percent to $28 million, up from $20.4 million during the same period the prior year. Full year revenues grew more than 40 percent to $105.6 million.

Costs and operating expenses grew 20 percent during the quarter to $29.3 million, bringing the company to $114 million in expenses for the year, a 27 percent increase.

Net losses shrank from $3.9 million in the final quarter of 2015, or 12 cents per basic and diluted share, to $1.3 million for the same period in 2016, or 4 cents per share. During the year, the company lost $8.3 million, down from $15.7 million in 2015, for a 25 cent loss per share.

The company had cash and cash equivalents of $10.7 million with outstanding liabilities of $22.9 million. In its earnings statement, the company said it expects full year revenues to reach $136 million to $138 million, a 28 percent jump.

• Contact Marissa Nall at [email protected]

    Print       Email

You might also like...

CSU Channel Islands getting therapy dogs

Read More →