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AI Fuels RealPage's Revenue Surge
10 Apr
Summary
- RealPage's Q4 revenue increased 4% to $470.9 million.
- AI currently enables about a quarter of the company's revenue.
- Full fiscal year earnings grew 6.3% to $780.8 million.
RealPage, a provider of software for the property industry, has reported slightly improved revenue and earnings to conclude the previous year. The company's fourth-quarter revenue reached $470.9 million, marking a 4% increase compared to the same period last year. This growth was primarily fueled by an expansion in software-as-a-service subscriptions.
Adjusted earnings before interest, taxes, depreciation, and amortization saw a significant increase of 11.7% for the quarter. For the full fiscal year, RealPage's earnings grew by 6.3% to $780.8 million. The company highlighted that about a quarter of its current revenue is enabled by artificial intelligence technologies.
Based in Richardson, Texas, RealPage serves over 24 million units globally, assisting landlords with various functions. Despite broader market fears surrounding AI's impact on software platforms, RealPage plans to further integrate AI to enhance operational efficiencies across its offerings.
