- RealPage (NASDAQ:RP) expects Q2 revenue of $93.8M-$94.8M, far below a $107.2M consensus. Adjusted EBITDA is expected to be in a range of $11.5M-$12.5M vs. prior guidance of $25M-$25.5M.
- The company mostly blames weak demand for products/services related to leasing activity. RealPage believes "owners are spending less in marketing and advertising due to low vacancy and resident turnover rates."
- In addition, revenue tied to RealPage's renter's insurance solutions business "declined significantly."
- Full Q2 results arrive on Aug. 4.