Slide 1: Q2 2025 Financial results
Q2 2025 Financial results July 21, 2025
Slide 2: Safe harbor statement
Safe harbor statement The information provided in this presentation 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,
Slide 3: Reg. G Disclosure
Reg. G Disclosure Today’s conference call will discuss results primarily on an adjusted (non-GAAP) and continuing operations basis. Q2 results adjusted for the following items: 1. Amortization of acquisition-related intangible assets 2. Transaction-related expenses associated with completed acquisit
Slide 4: Agenda
Agenda Q2 enterprise highlights & financial results Segment detail & outlook Q3 & FY 2025 enterprise guidance Q&A 4
Slide 5: Q2 overview
Strong second quarter +13% revenue; +7% organic; +6% M&A contribution +10% free cash flow; TTM 31% free cash flow margin Q2 overview Acquiring Subsplash Increasing full year guidance Well positioned for continued capital deployment Results are presented on an adjusted (non-GAAP) and continuing opera
Slide 6: Subsplash acquisition
Subsplash acquisition Investment highlights Company overview Purchase price: $800M Leading provider of cloud-based software solutions for 20,000 faith-based organizations & Expected financial impact: churches ~$115M revenue (12-months ending Q3’26) Comprehensive, purpose-built platform ~$36M EBITDA
Slide 7: Q2 financial highlights
Q2 financial highlights Strong second quarter results Total revenue +13%; organic revenue +7%; M&A contribution +6% EBITDA +12%; EBITDA margin 39.9%; core EBITDA margin flat DEPS +9% to $4.87 Free cash flow +10% to $403M; TTM 31% free cash flow margin Revenue EBITDA TTM free cash flow +14% +15% +16%
Slide 8: Strong financial position
Exited Q2’25 at 2.9x net debt-to-EBITDA $242M of cash Strong financial $1.4B drawn on $3.5B revolver Subsplash acquisition expected to close position later this month $5B+ M&A firepower Financed by revolving credit facility Well positioned for continued capital deployment Strong balance sheet & cash
Slide 9: Segment detail & outlook
Segment detail & outlook
Slide 10: Application Software
Application Software Q2 highlights Revenue Revenue +17%; M&A revenue contribution +11%; organic revenue +6% Deltek GovCon & private sector growth; continued cloud momentum & expanding GenAI functionality Record Aderant quarter; strong SaaS growth & ongoing GenAI innovation $627 $770 $932 $1,095 Vert
Slide 11: Network Software
Network Software Q2 highlights Revenue Revenue +6%; organic revenue +5% Increased ARPU fueled continued DAT growth; enhanced network value from ongoing innovation & Outgo bolt-on; combined DAT & Loadlink Continued strong ConstructConnect network $343 $358 $364 $385 growth & emerging AI takeoff & est
Slide 12: Technology Enabled Products
Technology Enabled Products Q2 highlights Revenue Revenue +10%; organic revenue +9% Neptune continued strong ultrasonic meter growth & adoption of cloud-based software solutions (meter data management & billing) Verathon growth driven by continued strong $340 $403 $421 $463 demand for BFlex & GlideS
Slide 13: 2025 enterprise guidance
2025 enterprise guidance
Slide 14: Increasing FY 2025 guidance
Increasing FY 2025 guidance Total revenue: ~13% Previously ~12% Organic: +6 - 7% (unchanged) Guidance Adjusted DEPS: $19.90 - $20.05 update Previously $19.80 - $20.05 Includes Subsplash ~$(0.05) impact Establishing Q3 2025 guidance Adjusted DEPS: $5.08 - $5.12 Includes Subsplash ~$(0.03) impact Guid
Slide 15: Summary
Strong second quarter +13% revenue; +7% organic; +6% M&A contribution +10% free cash flow; TTM 31% free cash flow margin Acquiring Subsplash Summary Increasing full year guidance Continued demand for mission critical solutions Simple ideas. Ongoing expansion of recurring revenue base Powerful result
Slide 16: Market-leading businesses in defensible niches
Market-leading businesses in defensible niches Decentralized Process-driven operating capital deployment environment 16
Slide 17: Appendix
Appendix
Slide 18: Q2 income statement metrics
Q2 income statement metrics Q2’24 Q2’25 Revenue $1,717 $1,944 +13%; +7% organic; +6% M&A contribution Gross profit $1,193 $1,345 Gross margin 69.5% 69.2% Core +40 bps EBITDA $695 $775 +12% EBITDA margin 40.5% 39.9% Core flat; segment core +40 bps Interest expense $68 $79 Tax rate 20.9% 21.8% Net ear
Slide 19: Roper's revenue composition
Roper’s revenue composition Disaggregated revenue reconciliation ($M) (from continuing operations) Technology Enabled Q2 2025 Application Software Network Software Products Roper Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 Software related Recurring $ 700 $ 806 $ 263 $ 280 $ 6 $ 12 $ 970 $ 1,097
Slide 20: Reconciliations I
Reconciliations I Adjusted EBITDA reconciliation ($M) (from continuing operations) Q2 2022 Q2 2023 Q2 2024 Q2 2025 V% to '24 3-Year CAGR TTM 2025 GAAP revenue $ 1,311 $ 1,531 $ 1,717 $ 1,944 13% 14% $ 7,468 GAAP earnings before income taxes $ 317 $ 464 $ 425 $ 485 $ 1,961 Interest expense 45 35 68 7
Slide 21: Reconciliations II
Reconciliations II Revenue growth reconciliation (from continuing operations) Technology Q2 2025 Application Network Enabled Software Software Products Roper Organic 6% 5% 9% 7% Acquisitions/divestitures 11% 1% 1% 6% Foreign exchange - - - - Total revenue growth 17% 6% 10% 13% Segment reconciliation
Slide 22: Reconciliations III
Reconciliations III Adjusted net earnings reconciliation ($M) (from continuing operations) Q2 2024 Q2 2025 V% GAAP net earnings $ 337 $ 378 12% Transaction-related expenses for completed acquisitions - 3 Financial impacts associated with the minority investments in Indicor & Certinia - (13) A B Amor
Slide 23: Footnotes
Footnotes A. Adjustments related to the financial impacts associated with the minority investment in Indicor as shown below ($M, except per share data). Forecasted results do not include any potential impacts associated with our minority investment in Indicor, as these potential impacts cannot be re
Slide 24: Roper Technologies
Roper TECHNOLOGIES