resilience changing million off year Units XX% grew increase annual AppFolio’s evolving XX% an quarter financial million. I'm in that macroeconomic the results. Thank quarter to to AppFolio industry report environment. $XXX you, year-over-year to to XXXX in X.X for year real Lori, revenue and pleased $XXX capping fiscal us the welcome joining show fourth estate and everyone million. to to for continued grew XX% Fourth
Plus expanded. that our focused continue of AppFolio ARPU total increased, pleased Manager with to Property the unit count adoption we customers. and customers were number payments on of larger Also grow,
high focus business. customers to impacted to Our the innovation continued recognize retention as that their resulted in excellence AppFolio continued positively continue in of delivering on drive operational our customers value
recent heard partner us the you've marketplace. stack is AppFolio integrations Innovative example One talk of Solutions about
point Another is AI. in investments case our in important
the smart XX% now one help and to managers features or bank transactions of XXXX, ones their end and Insurer of As Smart accounting of enforce customers automatically that or AI use enabled our requirements imports tool including fees, insurance our a more reconciliations. services, bank lease like newest supervise property
continued Driving time our drive our to and is we business. operational save our look within also AppFolio and efforts help These to customers as examples scale money efficiency. reflect operational efficiency important
a Our path efficient. focused to initiative to revenue, more while company-wide is on growing increasing profitability executing be
AppFolio’s customers' and strategic focusing business. We both are and various wound divested meet non-core XXXX, businesses always our needs we how priorities, to and drive our a in down evaluating asset
are and We areas where rightsizing resource roles providers. can estate migrating capability, identify our such and certain to structure, real our procurement cost transforming we as improve our continually footprint, sourcing third-party working to
and moderating our rate. headcount to will been we In continue have addition, moderate growth
these the are from XXXX. early with pleased efforts in forward We them look continuing progress to and
economic of costs the that inaugural customers it management the outlook The to published our Benchmark employees. despite challenges. we operational nearly is among important report portfolio macro positive for week, property an and investing this in a to continue found broader X,XXX Earlier the property is From time management efficiency. save organizations, AppFolio perspective, Report growth add
units are increasing their revenue organization's They as XXXX, the expect their staff. growing nearly net expecting three XX% adding portfolio, service, improving top to and than increase to new customer their reported operating grow. income revenue, quarters priorities More to
for decisions, These with. the and that to both better payable expressed payments has through data process. interactions easier businesses their rent to all improving AppFolio work leverage they and make online to residents continue also and the faster, and help will are make priorities accounts desire processing financial They with to or been
core problems its at in helping about is strategy customers ways. solve all innovative our long-term AppFolio’s
keep goal happy, customers in we Our ARPU, units. [ph], added growing will to churn, and customers [XXXX] our is In fast a at continue innovate to resulting new and low pace.
we are for support new powerful revenue mixed our streams. capture For one we for example, on types expand and building platform property portfolios as
and of is business This that centralization, and of we easier will And need the of they the it excellence remain our enabling delivering automation, intuitive service accounting things types at critical R&D focus scale is accounting. we efforts are customers' when source we example product leveraging record Another and reporting. for is functionality the process these offering an technology of and onboarding and core and get it the make around to help they for are customers it. property These to need at how by flexibility. level
the just our sustained behind and for XXXX beyond. won projects our larger our investments long-term to are supporting are pipeline customers. core strategy of a and long-term few that's These Also acquiring efforts and
Property segment Plus [ph]. Our The Plus XX% we strategic rate or our more a in bets with growing [Tier] Manager is is ARPU. made quickly growth and XXXX drove than increasing corporate to APM major our in success contributor AppFolio
on organize and And our fueling increasingly ability new to market. fastest Large customers to to our are coming introducing customers growing expansions. and efforts team current their are creative residential future our go-to-market partner to ways us improving future help is units win the around our These portfolio and that needs.
growth of and acquisition invested in a a XX,XXX of Let focused the is and their across six me goal performance. heavily figure technology PLUS growth we have AppFolio and closely organic And through Evernest adoption to They strategy. platform U.S. mixed have customer unit a they example. are share an [indiscernible] maximize the together units managing the portfolio APM
closely to will with “we growth. We achieve more are our to the accelerate happy helps team agreement growing Evernest. Evernest, partnership, like meet to of goals.” of growth recently with rapidly Evernest needs Technology to this testament AppFolio AppFolio. a and working the the Whitaker, customers continue a experiences to Matthew differentiated AppFolio As to deliver strength We're CEO be renewed According of Evernest multi-year
Large partners than stack, with XXX,XXX marketing technologies, launched alike platform, customers' improving productivity, category and resident More June launch, more of since of utility Stack customers applications as our and since onboarded Stack compliance. and on integrates management, spending in experiences. has are newest leasing, doubled marketplace and smart preferred XXXX. number customers maintenance Stack’s software inspections units now on connected our embracing are the integrations customers than our we've more home have boosting our giving seamlessly our focus small partner they choices their
daily teams recently software President enjoyment since user removes [ph], allows “our of experience Columbus, families XXXX of maintaining home Morrison] to just more Ohio, X,XXX their many on concentrate mobile Horizon's LLC Asset under administrative duties, [J.P. of helped has Management APM focus integrations heading burdens, Horizon's on our friendly our PLUS, a that units was on team's the AppFolio said, and energized.” their and customer on asset, closing to introducing more active renters a
on to In customers plan previously features housing also the mixed housing built customers XXXX, use serve segment. partnered we deliver our to charter their Large functionalities to deliver for with looking purpose shared further portfolios. as affordable to product We programs are for to through market. to capabilities to a This customers' our focus integrated manage housing in differentiate needs building we tools affordable such support easily. subsea more meaningful, workflows go the year, plan
customer of we to users. our customer the securities [return our whole make go One continues to process deposit. Payments it to it it and creative value of longer is ways at announced the feature] write end a growing value-added take deliver a bank to our ecosystem find conference. is check, now growing residents done be fastest The services necessary to [ph] is October out, are No additional integrated mail for then example our electronically. working to above and
than meaningful return adoption of customers automatically helping new residents. offering seen We this more XX,XXX nearly to funds have X,XXX
customer announcement Apple Another was conference Pay.
to card twice] just in their phone when a they they wants their and need to pay. rent, information, pay Now, type resident credit can don't on [ph] [click their
in friction on-time our] customers. process, the [likes and the payment For improves this property payment, managers, [ph] removes of
Early early the Based Apple XXXX. adopt resident Pay first and our to half that Apple cases expand approximately transactions indications when link in to be increased of these plan full used Pay. by rollout we anticipate show we with in X% card results, the capabilities on customers AppFolio’s complete
the While making customer we SMB in market are growth, base by and our across the domains. accounting, service we strides maintenance simplifying leasing, growing meaningful to driving achieving adoption remain deep our capabilities, experience in adding committed
In XXXX, our effort efforts rates self-service on and achieve experience reducing owner increasing improving success. were rate focused the to the SMB
month, the our all we people. innovative execution the just we ways You've and will it actions possible event early the deliver kick-off focus about this annual are on of the made importance our that employee impact. a At through sharp is expanding discussed heard greatest customer and
year, mentioned to this looking I've As we efficiency. internal already improve are our
We will for simplify to to environment powered team impact in continue current built AppFolio invest meaningful our performance. an create by and that's
I'm of Workplaces X,XXX We to In our team achieve recognizes the culture goals. Fortune's Great confident make nearly in to Places and our [ph] in and hybrid and also Work people choice. Glassdoor's selected Technology. workplace were I’m proud great that embrace continue Best we [AppFolio’s] to employer and ability XXXX, among a company Best our
growing profitability. our the XXXX, enter increasing aligned we As on well on we are business focus and
by business increased our and XXXX, achieved During exceptional adoption usage fueled of growth payments. rate, payments electronic an
that we expect naturally growth will usage XXXX, For card rates moderate.
to also support more are in efficient, we we invest need to upmarket. our While continue becoming move to R&D
our and a will consistent through Sien of Over-and-over AppFolio’s flow and growth free take various conditions. more market in result Fay level results estimates delivered is has expenses business The shortly. of detail resilient for cash revenue moderate you
residents, cash in we on our ability balance strong products through customer efficiencies success and trusted focus a accomplishments for I'm and sheet our services, committed and and our and to debt free position. drive property growing believe innovative team We and owners, and a culture. by continued steadily healthy are managers, vendors, have proud partnerships, a driving of
call Sien over will financial details to AppFolio’s for fourth more Fay on I turn now quarter results. the