Good afternoon. Thank you for standing by. And welcome to the AppFolio Incorporated Second Quarter 2021 Financial Results Conference Call. Please be advised today’s conference is being recorded and replay information will be given at the end of the broadcast. [Operator Instructions] I would now like to hand the conference over to Erica Abrams.

Thank you, Ally. Good afternoon, ladies and gentlemen. And thank you for joining us today as we report AppFolio’s second quarter of 2021 financial results. With me on the call today are Jason Randall, AppFolio’s President and CEO. This call is simultaneously being webcast on the Investor Relations section of our website at www.appfolioinc.com. Before we get started, I would like to remind everyone that AppFolio’s Safe Harbor policy. Comments made during this conference call and webcast contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subjects to risks and uncertainties. Any statement that refers to expectations, projections or other characterizations of future events, including financial projections or future market conditions is a forward-looking statement. AppFolio’s actual future results could differ materially from those expressed in such forward-looking statements, for any reason, including those listed in our SEC filings. AppFolio assumes no obligation to update any such forward-looking statements except as required by law. Please see our filings with the SEC, including our Form 10-Q, which was filed earlier today for greater detail about risks and uncertainties. With that, I will turn the call over to Jason Randall, AppFolio’s President and CEO. Jason, please go ahead.

Thank you, Erica. And welcome to everyone joining us for AppFolio’s second quarter of fiscal year 2021 financial results. As those of you who follow us closely know Ida Kane our former Chief Financial Officer departed AppFolio in early June 2021 and the finance team is presently reporting to me on an interim basis. With our search for a new Chief Financial Officer currently underway, I will be discussing the details of both our financial and strategic progress in the second quarter. For the quarter, we reported total revenue of $89 million and GAAP net income of $2 million or $0.06 per diluted share. GAAP net income includes an income tax benefit of $0.3 million, as well as $3.2 million in non-cash charges related to stock-based compensation. Our Form 10-Q was filed today and includes more details on our results. On the call today, to enhance clarity and comparability, I will discuss the results of our continuing real estate business for comparable periods historically, excluding the impact of our former MyCase business, which we divested in the third quarter of 2020. To that end, revenue from AppFolio’s continuing business for the second quarter of 2021 was $89 million, which represents an increase of 22% total revenue of $72.8 million reported in the same period in 2020. The increase in revenue year-over-year is mainly attributable to growth in the number of property management customers we serve, which correlates to an increase in the use of our core subscription solutions and our usage-based Value Plus services, which are designed to enhance, automate and streamline processes and workflows that are essential to our customers’ businesses. At the end of the second quarter we had over 16,500 real estate property management customers, which represents an increase of 10% reported in the same period one…

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Thank you for participating in today’s AppFolio Incorporated second quarter 2021 financial results conference call. This call will be available for replay beginning at 7.30 p.m. Eastern Time today through midnight on August 12, 2021. The conference ID number for the replay is 2995293. Again the conference will be number for the replay is 2995293. The number to dial replay is 855-859-2056 or 404-537-3406. Once again, we would like to thank you for participating on today’s conference call. You may now disconnect.