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AppFolio Q1 loss widens YOY

AppFolio Inc. said its first-quarter normalized net income came to a loss of 7 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 cents per share.

The per-share loss decreased 73.1% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.2 million, compared with a loss of $2.2 million in the year-earlier period.

The normalized profit margin rose to negative 9.6% from negative 14.0% in the year-earlier period.

Total revenue climbed 46.5% year over year to $23.2 million from $15.8 million, and total operating expenses increased 38.4% year over year to $26.8 million from $19.4 million.

Reported net income came to a loss of $3.6 million, or a loss of 11 cents per share, compared to a loss of $3.6 million, or a loss of 41 cents per share, in the year-earlier period.