Excellent insights regarding AppFolio and SBC. I invested in AppFolio 4 1/2 years ago (unfortunately, long after the IPO) and have had a 104% total return over the period of a few ups and downs.
Have been very intrigued after their last quarter. My biggest worry is that the majority of their acceleration (or lack of revenue decay) has been driven by its value-added (non software) services - as you indicate in the post. Will inevitably lead to margin erosion and potential re-rating. Thoughts?
Excellent insights regarding AppFolio and SBC. I invested in AppFolio 4 1/2 years ago (unfortunately, long after the IPO) and have had a 104% total return over the period of a few ups and downs.
Have been very intrigued after their last quarter. My biggest worry is that the majority of their acceleration (or lack of revenue decay) has been driven by its value-added (non software) services - as you indicate in the post. Will inevitably lead to margin erosion and potential re-rating. Thoughts?