Summary of Roper Technologies, Inc. Conference Call on Frontline Education Acquisition Company and Industry - **Company**: Roper Technologies, Inc. (NASDAQ: ROP) - **Acquisition Target**: Frontline Education - **Industry**: K-12 Education Software Solutions Key Points and Arguments 1. **Acquisition Details**: Roper Technologies announced the acquisition of Frontline Education for $3.725 billion, with a net purchase price of $3.375 billion after accounting for a $350 million tax benefit, resulting in a valuation of approximately 19x 2023 EBITDA [7][9]. 2. **Financial Performance**: For calendar year 2023, Frontline is expected to generate revenue of approximately $370 million and EBITDA of around $175 million, yielding EBITDA margins exceeding 47% [9]. 3. **Recurring Revenue Model**: Frontline's business model is characterized by over 90% recurring revenue, high single-digit organic growth, and strong cash conversion due to a negative net working capital profile [7][10]. 4. **Market Position**: Frontline is a leading provider of SaaS solutions in the K-12 education market, serving approximately 10,000 school districts across the U.S. with a product portfolio of 30 offerings [11][12]. 5. **Growth Drivers**: The company has high gross retention rates in the mid-90% range and net retention rates between 107% and 108%, indicating strong customer loyalty and growth potential [10][28]. 6. **Regulatory Environment**: The K-12 education market is highly regulated on a state-by-state basis, which presents a barrier to entry for new competitors [18]. 7. **Tax Benefits**: The tax benefit from the acquisition is projected to average about $35 million annually for the first ten years, with a slightly higher amount in the initial five years [19]. 8. **Competitive Landscape**: The K-12 education software market is fragmented, with less than half of the market currently vended. Frontline's competitive advantage lies in its administrative software solutions, which are less competitive than other areas like student information systems [24][48]. 9. **Future Growth Potential**: The K-12 market is in the early stages of digital transformation, providing significant opportunities for growth as districts automate workflows and processes [12][28]. 10. **Employee Base**: Frontline has a workforce of over 1,000 employees, including offshore development capabilities [40]. Additional Important Information - **M&A Strategy**: Frontline has a history of bolt-on acquisitions and is expected to continue pursuing opportunities that align with its product offerings and enhance its market reach [38]. - **Impact of COVID-19**: The pandemic did not significantly boost demand for Frontline's services, although it did lead to increased funding for K-12 systems, primarily for one-time expenses [33]. - **Pricing Power**: Frontline has historically been able to implement price increases in the range of 4%, with potential for slightly higher pricing in the near term due to inflation [36]. This summary encapsulates the essential details and insights from the conference call regarding Roper Technologies' acquisition of Frontline Education, highlighting the strategic fit, financial metrics, and market dynamics.

| --- | --- | |----------------------------------------------|-------| | | | | | | | | | | FRONTLINE ACQUISITION CALL AUGUST 30, 2022 | | | SIMPLE IDEAS. POWERFUL RESULTS. | | SAFE HARBOR STATEMENT The information provided in this presentation contains forward-looking statements within the meaning of the federal securities laws. These forwardlooking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 1-12273 ROPER TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 51-0263969 (State or other jurisdiction of inco ...

Roper Technologies, Inc. (NASDAQ:ROP) Q2 2022 Results Conference Call July 22, 2022 8:00 AM ET Company Participants Zack Moxcey - Vice President, Investor Relations Neil Hunn - President and Chief Executive Officer Rob Crisci - Executive Vice President and Chief Financial Officer Jason Conley - Vice President and Chief Accounting Officer Shannon O’Callaghan - Vice President, Finance Conference Call Participants Deane Dray - RBC Capital Markets Christopher Glynn - Oppenheimer Scott Day - Cornelius Joe Giorda ...

| --- | --- | |-----------------------------------------|-------| | | | | | | | | | | Q2 2022 FINANCIAL RESULTS JULY 22, 2022 | | | SIMPLE IDEAS. POWERFUL RESULTS. | | SAFE HARBOR STATEMENT The information provided in this presentation contains forward-looking statements within the meaning of the federal securities laws. These forwardlooking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired business ...

| --- | --- | |------------------------------------------------------------------|-------| | | | | | | | | | | INVESTOR PRESENTATION JEFFERIES SOFTWARE CONFERENCE JUNE 2, 2022 | | | SIMPLE IDEAS. POWERFUL RESULTS. | | SAFE HARBOR STATEMENT The information provided in this presentation contains forward-looking statements within the meaning of the federal securities laws. These forwardlooking statements may include, among others, statements regarding operating results, the success of our internal operating pl ...

Summary of Roper Technologies, Inc. Conference Call Company Overview - Roper Technologies is the fourth largest application software company in the S&P 500 by revenue, cash flow, and enterprise value [4][5] - The company focuses on compounding cash flow for shareholders, achieving a total shareholder return (TSR) of 18% per year over the past 20 years, with 60% of this growth being organic and 30-35% from acquisitions [5][10] Recent Developments - Roper announced the divestiture of 16 legacy industrial cyclical businesses to Clayton, Dubilier & Rice, focusing on a portfolio that is 75% vertical software and 25% highly engineered products in healthcare and water markets [6][10] Financial Performance - The updated revenue guidance for the company is $5.2 billion with 40% EBITDA margins [6] - Roper has maintained a clean EBITDA, converting over 80% of it into free cash flow annually, and has increased its dividend for 29 consecutive years [10][11] Business Strategy - Roper operates a highly decentralized structure with 26 businesses, each with its own management team, allowing for local autonomy and customer intimacy [8][9] - The company employs business coaches to enhance strategy execution, talent management, and operational improvements across its portfolio [9][10] Market Positioning - Roper targets niche markets with small, growing segments where it can establish a competitive moat [8] - The company focuses on acquiring businesses with high EBITDA margins (40-50%) and mid-single to high-single-digit organic growth potential [32] M&A Strategy - Roper is patient in its capital deployment, currently having $7 billion available due to divestitures, with a typical annual deployment of $2-3 billion [26][28] - The company emphasizes acquiring businesses that are structurally sound and have the potential for long-term growth, rather than seeking short-term value acquisitions [27] Competitive Landscape - Roper does not compete directly with companies like Constellation Software, as it targets larger and more growth-oriented businesses [52] - The company has a cost of capital advantage over private equity firms, financing acquisitions at lower rates [33] Success Stories - Roper highlighted successful businesses in its portfolio, such as Deltek and Verathon, which have shown significant growth through strategic execution and operational improvements [45][46] Challenges and Learnings - Roper acknowledged a past acquisition mistake with Sunquest, which highlighted the importance of understanding market dynamics and decision rights within niche software markets [49][51] Conclusion - Roper Technologies continues to focus on compounding cash flow through strategic acquisitions and operational excellence, maintaining a strong market position in niche verticals while being patient in capital deployment and M&A activities [10][27]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 1-12273 ROPER TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 51-0263969 (State or other jurisdiction of inc ...

Roper Technologies, Inc. (NASDAQ:ROP) Q1 2022 Earnings Conference Call April 26, 2022 8:30 AM ET Company Participants Zack Moxcey - Vice President, Investor Relations Neil Hunn - President and Chief Executive Officer Rob Crisci - Executive Vice President and Chief Financial Officer Jason Conley - Vice President and Chief Accounting Officer Shannon O’Callaghan - Vice President, Finance Conference Call Participants Christopher Glynn - Oppenheimer Deane Dray - RBC Capital Markets Kiran Patel-O'Connor - Barclay ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 -------------------------- FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number 1-12273 ROPER TECHNOLOGIES, INC. (Exact name of Registrant as specified in its charter) ---------------- (State or o ...