diluted that include: foundation acquisition being or Property AppFolio XX% of the customers; the and XXXX and $X.XX believe management which share acquisition a Manager artificial investments served service third, for for by the share August call our AppFolio initiatives year-over-year results. property development second, increasing customers; you, is GAAP will launch quarter serve first completed manager higher everyone impact Top growth the to of Value+ last September and in larger Thank now investments Plus the first, as in quarter XXXX growth is million of we Manager utility us recent of today value. AppFolio the its January $X.X our $X.X revenue that income accelerated the Dynasty XXXX shareholder was for Those non-cash AppFolio Property used in compared our solutions investment vertical; charges million. minutes. compensation. in intelligence estate estate of $XX.X first with AppFolio's in to to to related fiscal Erica, during further and few a results included million XXXX, managers, finally, launch discuss net reflecting serve year, in management positively and long-term diluted million and in XXXX line which first per welcome Jason $X.XX development per WegoWise quarter to on quarter year revenue financial Also the $X.X real to investment will stock-based real in quarter first of advanced joining
property reflect of includes customers. higher your non-GAAP the non-GAAP track you those today X.XX These acquiring unit XX,XXX results, XX-Q success manager financial find calculating our who Form own. efforts our filed you results that points customers in first quarter more units. For detailed might and in count managing continued million on closed data We with metrics helpful was and
of in customers. increase quarter, an number XX,XXX. XX% solutions In counts. a due solution's property are XX% count management was year-over-year, in XX% increased not we property are that to customer Customers real property customer our manager in unit revenue to reminder, and units manager our million base subscribing X% core customer vertical, number legal the the our the year-over-year our a in under As not to define to solutions. increase included estate as to customers core first subscribing of a increase Core primarily manager our $XX.X related
revenue was electronic million, the revenue screening from of majority services usage year-over-year. Value+ growth of services and our reflecting units services revenue acquisitions of year-over-year increased XX% by to a Other of derived larger $X.X First with XX% increased base from revenue. payments, a of property recent increase increased the Value+ manager quarter Revenue higher associated a with insurance services customers each million stand-alone management. under and subscription $XX.X number
expected Turning revenue, to a compared in revenue increased first operating reflecting costs head expenses, year-over-year and our increase the an total expenses increased on XX% total XX% to basis quarter overall investments for GAAP of generation.
growth. approximately in service team $X.X legal in other of revenue increased professional headcount leasing, for Dynasty-related include support QX to activities expenses. that increase results expenses expanded via approximately revenue and related primarily to fees $XXX,XXX included cost during stand-alone million related and $X.X the of audit, operating Operating which to growth include for to employees XX% new of is offerings subscription to joined Year-over-year, incremental future quarter. million acquisition-related our an increase year-over-year acquisitions. X,XXX also in increased employees, Our headcount AppFolio and drive include offerings customers the and
In acquisition addition, we tax benefit $X a related recognized the million. over to onetime of
assets we full against deferred those valuation allowance with reminder, assets. tax a significant As have a
income valuation the no of We in release the with the conclusion to months to that become continue longer We the allowance to to result three in reach a benefit valuation that our to allowance. may evidence allow is regards believe next that be allowance needed. evaluate reversal the whether the sufficient within tax of an is valuation XX possibility would period sufficient positive the there evidence Release exists recorded. may available us
the to million securities We cash, with debt. sheet. in the and million $XX.X investment closed balance equivalents of Moving approximately quarter $XX.X and cash
of increased $XX from and activities we the acquisition operating $XXX,XXX Dynasty investments million the completed for With cash. generated in the quarter, during
$X $X.X adopted January to purchase property million lease and and accounting. ASC in via product also capitalized related used invested to additional innovation million XXX X, also equipment We we Effective XXXX, software.
and to we ASC short- few million. $XX.X In operating and of sheet accounting material periods. elected not end, comparative impact income statement. balance prior adoption our balance quarter have The with will lease long-term not sheet totaling on accordance with a the our XXX You right-to-use addition lease recast million standard, notice a $XX liabilities, will totaling changes at the assets, to of
During share for of prices or not conservatively Board at allows at are modified does the of be repurchases program. to any Directors intrinsic repurchase number $XXX authorized determined, the that but first company million repurchase specific shares amount obligate value a our below The or suspended may quarter, and dollar time. any program
summary, repurchases initiated QX investments not have as in today. to any line growth We year-over-year top of with In XX% program accelerated growth initiatives. this under increased
continue long-term We our to towards are progress with pleased goals. make we the
revenue $XXX million, which focused of year-over-year $XXX to we XXXX, at year full in revenue fiscal million range For of remain on the of midpoint XX% represents range. growth the year executing the
million. approximately be our expect diluted We for weighted the full year shares average to $XX
to As turn With reminder, investor over submit the to via call our that, investors on for the a of additional the form Q&A invited section comments. I'll questions Investor website. are Jason located Overview
