AppFolio, Inc. (APPF) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $0.66 million, or $ 0.02 a share in the quarter, against a net loss of $3.60 million, or $0.11 a share in the last year period. Revenue during the quarter surged 38.41 percent to $32.13 million from $23.21 million in the previous year period. Gross margin for the quarter expanded 492 basis points over the previous year period to 59.56 percent. Operating margin for the quarter period stood at positive 1.86 percent as compared to a negative 15.42 percent for the previous year period.
Operating income for the quarter was $0.60 million, compared with an operating loss of $3.58 million in the previous year period.
For financial year 2017, APPFOLIO expects revenue to be in the range of $136 million to $138 million.
Operating cash flow turns positive
AppFolio, Inc. has generated cash of $3.81 million from operating activities during the quarter as against cash outgo of $0.74 million in the last year period. The company has spent $5.48 million cash to meet investing activities during the quarter as against cash outgo of $0.12 million in the last year period.
The company has spent $1.06 million cash to carry out financing activities during the quarter as against cash inflow of $0.06 million in the last year period.
Cash and cash equivalents stood at $7.97 million as on Mar. 31, 2017, down 29.28 percent or $3.30 million from $11.27 million on Mar. 31, 2016.
Working capital increases sharply
AppFolio, Inc. has recorded an increase in the working capital over the last year. It stood at $13.33 million as at Mar. 31, 2017, up 27.39 percent or $2.87 million from $10.46 million on Mar. 31, 2016. Current ratio was at 1.64 as on Mar. 31, 2017, up from 1.59 on Mar. 31, 2016.
Days sales outstanding were almost stable at 8 days for the quarter, when compared with the last year period.
At the same time, days payable outstanding went down to 11 days for the quarter from 17 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
