Roper Technologies Announces Updated Segment Structure

·10 min read
Roper Technologies, Inc.
Roper Technologies, Inc.

SARASOTA, Fla., June 30, 2022 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (NYSE: ROP) announced today that it has updated its reportable segments. The three updated reportable segments are as follows:

  • Application Software – Aderant, CBORD, CliniSys, Data Innovations, Deltek, IntelliTrans, PowerPlan, Strata, Vertafore

  • Network Software – ConstructConnect, DAT, Foundry, iPipeline, iTradeNetwork, Loadlink, MHA, SHP, SoftWriters

  • Technology Enabled Products – CIVCO Medical Solutions, FMI, Inovonics, IPA, Neptune, Northern Digital, rf IDEAS, Verathon

Beginning with the second quarter of 2022, the Company will report its quarterly and full year financial statements under the new segment structure with prior periods recast to reflect the change.

Discontinued Operations

On June 1, 2022, Roper announced an agreement to sell a majority stake in its industrial businesses, including its entire historical Process Technologies reportable segment (AMOT, CCC, Cornell, FTI, Metrix, PAC, Roper Pump, and Viatran) and the industrial businesses within its historical Measurement & Analytical Solutions reportable segment (Alpha, Dynisco, Hansen, Hardy, Logitech, Struers, Technolog, and Uson). Beginning in the second quarter of 2022, Roper plans to report the results of these businesses as discontinued operations.

Use of Non-GAAP Financial Information

The Company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight, increase transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial schedules or tables. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP, and the financial results prepared in accordance with GAAP and reconciliations from these results should be carefully evaluated.

Unaudited Historical Financial Information

The Company has included below unaudited historical financial segment information recast to give effect to the new reportable segment structure.

Table 1: GAAP Segment Financials ($M)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019 A

 

2020

 

2021

 

2022

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software

$

1,573

 

$

402

 

$

395

 

$

444

 

$

545

 

$

1,786

 

$

573

 

$

588

 

$

600

 

$

605

 

$

2,367

 

$

628

Network Software

 

889

 

 

263

 

 

257

 

 

266

 

 

283

 

 

1,069

 

 

287

 

 

298

 

 

316

 

 

323

 

 

1,224

 

 

338

Technology Enabled Products

 

1,095

 

 

292

 

 

300

 

 

292

 

 

283

 

 

1,167

 

 

295

 

 

304

 

 

316

 

 

329

 

 

1,243

 

 

313

Total

$

3,558

 

$

957

 

$

952

 

$

1,002

 

$

1,111

 

$

4,022

 

$

1,155

 

$

1,190

 

$

1,232

 

$

1,257

 

$

4,834

 

$

1,280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software

$

1,058

 

$

269

 

$

272

 

$

306

 

$

375

 

$

1,222

 

$

397

 

$

407

 

$

418

 

$

420

 

$

1,643

 

$

435

Network Software

 

764

 

 

218

 

 

213

 

 

221

 

 

236

 

 

888

 

 

239

 

 

250

 

 

267

 

 

272

 

 

1,029

 

 

285

Technology Enabled Products

 

652

 

 

178

 

 

191

 

 

179

 

 

170

 

 

718

 

 

180

 

 

182

 

 

186

 

 

188

 

 

735

 

 

177

Total

$

2,474

 

$

664

 

$

676

 

$

707

 

$

781

 

$

2,828

 

$

816

 

$

839

 

$

872

 

$

880

 

$

3,407

 

$

897

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Profit B

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software

$

406

 

$

97

 

$

113

 

$

125

 

$

132

 

$

468

 

$

154

 

$

153

 

$

164

 

$

162

 

$

633

 

$

172

Network Software

 

355

 

 

91

 

 

87

 

 

97

 

 

107

 

 

383

 

 

106

 

 

111

 

 

126

 

 

134

 

 

477

 

 

137

Technology Enabled Products

 

370

 

 

101

 

 

114

 

 

105

 

 

92

 

 

412

 

 

106

 

 

102

 

 

104

 

 

103

 

 

415

 

 

100

Total

$

1,131

 

$

290

 

$

314

 

$

327

 

$

331

 

$

1,263

 

$

365

 

$

367

 

$

395

 

$

399

 

$

1,525

 

$

409


Table 2: Adjusted Segment Financials ($M)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019 A

 

2020

 

2021

 

2022

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software

$

1,574

 

$

402

 

$

395

 

$

447

 

$

550

 

$

1,794

 

$

574

 

$

588

 

$

600

 

$

605

 

$

2,368

 

$

628

Network Software

 

899

 

 

266

 

 

258

 

 

266

 

 

283

 

 

1,073

 

 

287

 

 

298

 

 

316

 

 

323

 

 

1,224

 

 

338

Technology Enabled Products

 

1,095

 

 

292

 

 

300

 

 

292

 

 

283

 

 

1,167

 

 

295

 

 

304

 

 

316

 

 

329

 

 

1,243

 

 

313

Total

$

3,568

 

$

959

 

$

953

 

$

1,006

 

$

1,116

 

$

4,034

 

$

1,156

 

$

1,190

 

$

1,232

 

$

1,257

 

$

4,835

 

$

1,280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software

$

1,058

 

$

269

 

$

272

 

$

309

 

$

380

 

$

1,230

 

$

398

 

$

407

 

$

418

 

$

420

 

$

1,644

 

$

435

Network Software

 

774

 

 

220

 

 

214

 

 

221

 

 

236

 

 

892

 

 

239

 

 

250

 

 

267

 

 

272

 

 

1,029

 

 

285

Technology Enabled Products

 

652

 

 

178

 

 

191

 

 

179

 

 

170

 

 

718

 

 

180

 

 

182

 

 

186

 

 

188

 

 

735

 

 

177

Total

$

2,485

 

$

667

 

$

678

 

$

710

 

$

786

 

$

2,840

 

$

817

 

$

839

 

$

872

 

$

880

 

$

3,408

 

$

897

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Profit B

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software

$

406

 

$

97

 

$

113

 

$

128

 

$

135

 

$

474

 

$

153

 

$

152

 

$

163

 

$

161

 

$

628

 

$

171

Network Software

 

365

 

 

94

 

 

89

 

 

97

 

 

107

 

 

386

 

 

106

 

 

111

 

 

126

 

 

134

 

 

477

 

 

137

Technology Enabled Products

 

370

 

 

101

 

 

114

 

 

105

 

 

92

 

 

412

 

 

106

 

 

102

 

 

104

 

 

103

 

 

415

 

 

100

Total

$

1,141

 

$

292

 

$

315

 

$

330

 

$

334

 

$

1,272

 

$

364

 

$

365

 

$

393

 

$

398

 

$

1,521

 

$

407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment EBITDA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software

$

633

 

$

155

 

$

171

 

$

200

 

$

241

 

$

767

 

$

258

 

$

257

 

$

267

 

$

265

 

$

1,047

 

$

277

Network Software

 

485

 

 

134

 

 

129

 

 

139

 

 

149

 

 

551

 

 

147

 

 

153

 

 

168

 

 

174

 

 

642

 

 

178

Technology Enabled Products

 

408

 

 

110

 

 

122

 

 

114

 

 

100

 

 

445

 

 

114

 

 

110

 

 

112

 

 

111

 

 

448

 

 

107

Total

$

1,526

 

$

399

 

$

422

 

$

453

 

$

490

 

$

1,764

 

$

519

 

$

520

 

$

547

 

$

551

 

$

2,136

 

$

563


Table 3: Adjusted Revenue Growth

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

2021

 

2022

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

Organic Growth

5

%

 

1

%

 

(1)

%

 

(2)

%

 

1

%

 

3

%

 

9

%

 

10

%

 

10

%

 

8

%

 

9

%

Acquisitions/Divestitures

2

%

 

2

%

 

12

%

 

36

%

 

13

%

 

39

%

 

38

%

 

23

%

 

%

 

23

%

 

1

%

Foreign Exchange

%

 

(1)

%

 

1

%

 

1

%

 

%

 

1

%

 

2

%

 

1

%

 

%

 

1

%

 

(1)

%

Total Revenue Growth

6

%

 

2

%

 

11

%

 

35

%

 

14

%

 

43

%

 

49

%

 

34

%

 

10

%

 

32

%

 

9

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network Software

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

2021

 

2022

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

Organic Growth

3

%

 

2

%

 

%

 

4

%

 

2

%

 

3

%

 

10

%

 

16

%

 

13

%

 

11

%

 

16

%

Acquisitions/Divestitures

34

%

 

24

%

 

13

%

 

3

%

 

17

%

 

4

%

 

3

%

 

1

%

 

%

 

2

%

 

2

%

Foreign Exchange

%

 

%

 

%

 

%

 

%

 

1

%

 

2

%

 

1

%

 

%

 

1

%

 

%

Total Revenue Growth

36

%

 

26

%

 

13

%

 

8

%

 

19

%

 

8

%

 

15

%

 

19

%

 

14

%

 

14

%

 

18

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Technology Enabled Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

2021

 

2022

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

Organic Growth

10

%

 

7

%

 

6

%

 

4

%

 

7

%

 

%

 

%

 

8

%

 

16

%

 

6

%

 

7

%

Foreign Exchange

%

 

(1)

%

 

%

 

1

%

 

%

 

1

%

 

1

%

 

%

 

%

 

1

%

 

%

Total Revenue Growth

9

%

 

6

%

 

6

%

 

5

%

 

7

%

 

1

%

 

1

%

 

8

%

 

16

%

 

7

%

 

6

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Roper Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

2021

 

2022

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

Organic Growth

6

%

 

3

%

 

1

%

 

2

%

 

3

%

 

2

%

 

6

%

 

11

%

 

12

%

 

8

%

 

10

%

Acquisitions/Divestitures

9

%

 

6

%

 

9

%

 

16

%

 

10

%

 

17

%

 

17

%

 

11

%

 

%

 

11

%

 

1

%

Foreign Exchange

%

 

(1)

%

 

%

 

1

%

 

%

 

1

%

 

2

%

 

1

%

 

%

 

1

%

 

%

Total Revenue Growth

14

%

 

9

%

 

10

%

 

19

%

 

13

%

 

21

%

 

25

%

 

23

%

 

13

%

 

20

%

 

11

%


Table 4: Adjusted Segment & Consolidated Financials Reconciliation

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application Software Reconciliation ($M)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

2020

 

2021

 

2022

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Revenue

$

1,573

 

 

$

402

 

 

$

395

 

 

$

444

 

 

$

545

 

 

$

1,786

 

 

$

573

 

 

$

588

 

 

$

600

 

 

$

605

 

 

$

2,367

 

 

$

628

 

Purchase accounting adjustment to acquired deferred revenue

 

1

 

 

 

 

 

 

 

 

 

3

 

 

 

5

 

 

 

8

 

 

 

1

 

 

 

 

 

 

 

 

 

 

 

 

1

 

 

 

 

Adjusted Revenue

$

1,574

 

 

$

402

 

 

$

395

 

 

$

447

 

 

$

550

 

 

$

1,794

 

 

$

574

 

 

$

588

 

 

$

600

 

 

$

605

 

 

$

2,368

 

 

$

628

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Gross Profit

$

1,058

 

 

$

269

 

 

$

272

 

 

$

306

 

 

$

375

 

 

$

1,222

 

 

$

397

 

 

$

407

 

 

$

418

 

 

$

420

 

 

$

1,643

 

 

$

435

 

Purchase accounting adjustment to acquired deferred revenue

 

1

 

 

 

 

 

 

 

 

 

3

 

 

 

5

 

 

 

8

 

 

 

1

 

 

 

 

 

 

 

 

 

 

 

 

1

 

 

 

 

Adjusted Gross Profit

$

1,058

 

 

$

269

 

 

$

272

 

 

$

309

 

 

$

380

 

 

$

1,230

 

 

$

398

 

 

$

407

 

 

$

418

 

 

$

420

 

 

$

1,644

 

 

$

435

 

Adjusted Gross Margin

 

67.2

%

 

 

66.9

%

 

 

69.0

%

 

 

69.1

%

 

 

69.1

%

 

 

68.6

%

 

 

69.4

%

 

 

69.3

%

 

 

69.7

%

 

 

69.4

%

 

 

69.4

%

 

 

69.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Operating Profit B

$

406

 

 

$

97

 

 

$

113

 

 

$

125

 

 

$

132

 

 

$

468

 

 

$

154

 

 

$

153

 

 

$

164

 

 

$

162

 

 

$

633

 

 

$

172

 

Purchase accounting adjustment to acquired deferred revenue & commission expense

 

 

 

 

 

 

 

 

 

 

3

 

 

 

3

 

 

 

6

 

 

 

 

 

 

(1)

 

 

 

(1)

 

 

 

(1)

 

 

 

(5)

 

 

 

(1)

 

Adjusted Operating Profit

$

406

 

 

$

97

 

 

$

113

 

 

$

128

 

 

$

135

 

 

$

474

 

 

$

153

 

 

$

152

 

 

$

163

 

 

$

161

 

 

$

628

 

 

$

171

 

Adjusted Operating Margin

 

25.8

%

 

 

24.2

%

 

 

28.7

%

 

 

28.6

%

 

 

24.6

%

 

 

26.4

%

 

 

26.7

%

 

 

25.9

%

 

 

27.1

%

 

 

26.5

%

 

 

26.5

%

 

 

27.2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Operating Profit

$

406

 

 

$

97

 

 

$

113

 

 

$

128

 

 

$

135

 

 

$

474

 

 

$

153

 

 

$

152

 

 

$

163

 

 

$

161

 

 

$

628

 

 

$

171

 

Amortization

 

207

 

 

 

53

 

 

 

53

 

 

 

67

 

 

 

98

 

 

 

271

 

 

 

98

 

 

 

98

 

 

 

98

 

 

 

99

 

 

 

393

 

 

 

100

 

Depreciation

 

19

 

 

 

5

 

 

 

5

 

 

 

5

 

 

 

8

 

 

 

22

 

 

 

7

 

 

 

7

 

 

 

6

 

 

 

6

 

 

 

26

 

 

 

6

 

Adjusted EBITDA

$

633

 

 

$

155

 

 

$

171

 

 

$

200

 

 

$

241

 

 

$

767

 

 

$

258

 

 

$

257

 

 

$

267

 

 

$

265

 

 

$

1,047

 

 

$

277

 

Adjusted EBITDA Margin

 

40.2

%

 

 

38.7

%

 

 

43.3

%

 

 

44.7

%

 

 

43.8

%

 

 

42.8

%

 

 

44.9

%

 

 

43.7

%

 

 

44.5

%

 

 

43.8

%

 

 

44.2

%

 

 

44.1

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network Software Reconciliation ($M)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

2020

 

2021

 

2022

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Revenue

$

889

 

 

$

263

 

 

$

257

 

 

$

266

 

 

$

283

 

 

$

1,069

 

 

$

287

 

 

$

298

 

 

$

316

 

 

$

323

 

 

$

1,224

 

 

$

338

 

Purchase accounting adjustment to acquired deferred revenue

 

10

 

 

 

2

 

 

 

1

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Revenue

$

899

 

 

$

266

 

 

$

258

 

 

$

266

 

 

$

283

 

 

$

1,073

 

 

$

287

 

 

$

298

 

 

$

316

 

 

$

323

 

 

$

1,224

 

 

$

338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Gross Profit

$

764

 

 

$

218

 

 

$

213

 

 

$

221

 

 

$

236

 

 

$

888

 

 

$

239

 

 

$

250

 

 

$

267

 

 

$

272

 

 

$

1,029

 

 

$

285

 

Purchase accounting adjustment to acquired deferred revenue

 

10

 

 

 

2

 

 

 

1

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Gross Profit

$

774

 

 

$

220

 

 

$

214

 

 

$

221

 

 

$

236

 

 

$

892

 

 

$

239

 

 

$

250

 

 

$

267

 

 

$

272

 

 

$

1,029

 

 

$

285

 

Adjusted Gross Margin

 

86.1

%

 

 

82.9

%

 

 

83.1

%

 

 

83.1

%

 

 

83.3

%

 

 

83.1

%

 

 

83.3

%

 

 

84.0

%

 

 

84.6

%

 

 

84.4

%

 

 

84.1

%

 

 

84.2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Operating Profit B

$

355

 

 

$

91

 

 

$

87

 

 

$

97

 

 

$

107

 

 

$

383

 

 

$

106

 

 

$

111

 

 

$

126

 

 

$

134

 

 

$

477

 

 

$

137

 

Purchase accounting adjustment to acquired deferred revenue

 

10

 

 

 

2

 

 

 

1

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Operating Profit

$

365

 

 

$

94

 

 

$

89

 

 

$

97

 

 

$

107

 

 

$

386

 

 

$

106

 

 

$

111

 

 

$

126

 

 

$

134

 

 

$

477

 

 

$

137

 

Adjusted Operating Margin

 

40.6

%

 

 

35.2

%

 

 

34.3

%

 

 

36.3

%

 

 

37.9

%

 

 

36.0

%

 

 

36.7

%

 

 

37.3

%

 

 

40.0

%

 

 

41.4

%

 

 

39.0

%

 

 

40.4

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted Operating Profit

$

365

 

 

$

94

 

 

$

89

 

 

$

97

 

 

$

107

 

 

$

386

 

 

$

106

 

 

$

111

 

 

$

126

 

 

$

134

 

 

$

477

 

 

$

137

 

Amortization

 

112

 

 

 

38

 

 

 

38

 

 

 

40

 

 

 

39

 

 

 

156

 

 

 

39

 

 

 

39

 

 

 

39

 

 

 

39

 

 

 

156

 

 

 

40

 

Depreciation

 

8

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

9

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

8

 

 

 

2

 

Adjusted EBITDA

$

485

 

 

$

134

 

 

$

129

 

 

$

139

 

 

$

149

 

 

$

551

 

 

$

147

 

 

$

153

 

 

$

168

 

 

$

174

 

 

$

642

 

 

$

178

 

Adjusted EBITDA Margin

 

53.9

%

 

 

50.5

%

 

 

50.0

%

 

 

52.1

%

 

 

52.6

%

 

 

51.4

%

 

 

51.1

%

 

 

51.3

%

 

 

53.0

%

 

 

54.1

%

 

 

52.4

%

 

 

52.7

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Technology Enabled Products Reconciliation ($M)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019 A

 

2020

 

2021

 

2022

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

Q2

 

Q3

 

Q4

 

FY

 

Q1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Revenue

$

1,095

 

 

$

292

 

 

$

300

 

 

$

292

 

 

$

283

 

 

$

1,167

 

 

$

295

 

 

$

304

 

 

$

316

 

 

$

329

 

 

$

1,243

 

 

$

313

 

GAAP Gross Profit

$

652

 

 

$

178

 

 

$

191

 

 

$

179

 

 

$

170

 

 

$

718

 

 

$

180

 

 

$

182

 

 

$

186

 

 

$

188

 

 

$

735

 

 

$

177

 

GAAP Gross Margin

 

59.5

%

 

 

60.8

%

 

 

63.6

%

 

 

61.4

%

 

 

60.1

%

 

 

61.5

%

 

 

60.9

%

 

 

59.8

%

 

 

58.8

%

 

 

57.3

%

 

 

59.1

%

 

 

56.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Operating Profit B

$

370

 

 

$

101

 

 

$

114

 

 

$

105

 

 

$

92

 

 

$

412

 

 

$

106

 

 

$

102

 

 

$

104

 

 

$

103

 

 

$

415

 

 

$

100

 

GAAP Operating Margin

 

33.8

%

 

 

34.7

%

 

 

37.8

%

 

 

36.1

%

 

 

32.4

%

 

 

35.3

%

 

 

35.8

%

 

 

33.6

%

 

 

33.0

%

 

 

31.5

%

 

 

33.4

%

 

 

31.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP Operating Profit

$

370

 

 

$

101

 

 

$

114

 

 

$

105

 

 

$

92

 

 

$

412

 

 

$

106

 

 

$

102

 

 

$

104

 

 

$

103

 

 

$

415

 

 

$

100

 

Amortization

 

29

 

 

 

6

 

 

 

6

 

 

 

6

 

 

 

6

 

 

 

24

 

 

 

6

 

 

 

6

 

 

 

6

 

 

 

6

 

 

 

23

 

 

 

6

 

Depreciation

 

9

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

9

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

2

 

 

 

9

 

 

 

2

 

EBITDA

$

408

 

 

$

110

 

 

$

122

 

 

$

114

 

 

$

100

 

 

$

445

 

 

$

114

 

 

$

110

 

 

$

112

 

 

$

111

 

 

$

448

 

 

$

107

 

EBITDA Margin

 

37.2

%

 

 

37.6

%

 

 

40.6

%

 

 

39.0

%

 

 

35.3

%

 

 

38.2

%

 

 

38.6

%

 

 

36.3

%

 

 

35.5

%

 

 

33.9

%

 

 

36.0

%

 

 

34.3

%

  1. For the year ended December 31, 2019, the Technology Enabled Products segment excludes the results of the divestitures completed in 2019 for (i) the Scientific Imaging businesses, sold to Teledyne on February 5, 2019 and (ii) Gatan, sold to AMETEK on October 29, 2019.

  2. Segment operating profit is before unallocated corporate general and administrative expenses.

Note: Numbers may not foot due to rounding.

About Roper Technologies

Roper Technologies is a constituent of the S&P 500 and Fortune 500. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess free cash flow toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.

Contact Information:
Investor Relations
941-556-2601
investor-relations@ropertech.com

The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations. Forward-looking statements may be indicated by words or phrases such as “anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes,” “intends” and similar words and phrases. These statements reflect management’s current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include any ongoing impacts of the COVID-19 pandemic on our business, operations, financial results and liquidity, which will depend on numerous evolving factors which we cannot accurately predict or assess, including: the duration and scope of the pandemic, new variants of the virus and the distribution and efficacy of vaccines; any negative impact on global and regional markets, economies and economic activity; actions governments, businesses and individuals take in response to the pandemic; the effects of the pandemic, including all of the foregoing, on our customers, suppliers, and business partners, and how quickly economies and demand for our products and services recover after the pandemic subsides. Such risks and uncertainties also include our ability to identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from, and manage other risks associated with, the newly acquired businesses, as well as complete any announced divestitures, including obtaining any required regulatory approvals with respect thereto. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and the conditions of the specific markets in which we operate, changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, cybersecurity and data privacy risks, including litigation resulting therefrom, risks related to political instability, armed hostilities, incidents of terrorism, public health crises (such as the COVID-19 pandemic) or natural disasters, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, including as a result of the current inflationary environment and ongoing supply chain constraints, environmental compliance costs and liabilities, risks and cost associated with litigation, potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.