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Realpage Inc (RP) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Realpage Inc

CIK: 1286225 Ticker: RP

Exhibit 99.1

RealPage Reports Full Year and Q4 2013 Financial Results

  • 2013 Non-GAAP revenue increases 17.8% to $379.7 million
  • 2013 adjusted EBITDA increases 23.1% to $90.3 million
  • 2013 cash flow from operations increases 18.5% to $69.2 million
  • 2013 Non-GAAP earnings per share increases 25.5% to $0.59 per diluted share

CARROLLTON, Texas--(BUSINESS WIRE)--February 24, 2014--RealPage, Inc. (NASDAQ:RP), a leading provider of on-demand software and software-enabled services to the rental housing industry, today announced financial results for its fourth quarter and year ended December 31, 2013.

“2013 was a solid year for RealPage,” said Steve Winn, Chairman and CEO of RealPage. “Non-GAAP total revenue growth was 18% compared to last year and profitability levels expanded 100 basis points. While fourth quarter revenue performance was below our expectations, we are taking steps to re-accelerate our revenue growth for 2014 and beyond.”

Fourth Quarter 2013 Financial Highlights

  • Non-GAAP total revenue was $96.4 million, an increase of 12.5% year-over-year, while GAAP total revenue was $95.5 million, an increase of 11.4% year-over-year;
  • Non-GAAP on demand revenue was $93.0 million, an increase of 13.7% year-over-year, while GAAP on demand revenue was $92.1 million, an increase of 12.6% year-over-year;
  • Adjusted EBITDA was $24.8 million, an increase of 19.2% year-over-year;
  • Non-GAAP net income was $12.4 million, or $0.16 per diluted share, a year-over-year increase of 21.2% and 14.3%, respectively; and
  • GAAP net income was $2.2 million, or $0.03 per diluted share, compared to GAAP net income of $3.7 million, or $0.05 per diluted share, in the prior year quarter.

Full Year 2013 Financial Highlights

  • Non-GAAP total revenue was $379.7 million, an increase of 17.8% year-over-year, while GAAP total revenue was $377.0 million, an increase of 17.0% year-over-year;
  • Non-GAAP on demand revenue was $365.0 million, an increase of 19.1% year-over-year, while GAAP on demand revenue was $362.3 million, an increase of 18.2% year-over-year;
  • Adjusted EBITDA was $90.3 million, an increase of 23.1% year-over-year;
  • Non-GAAP net income was $44.9 million, or $0.59 per diluted share, a year-over-year increase of 28.5% and 25.5%, respectively; and
  • GAAP net income was $20.7 million, or $0.27 per diluted share, compared to GAAP net income of $5.2 million, or $0.07 per diluted share, in the prior year quarter.

The following information was filed by Realpage Inc (RP) on Monday, February 24, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Operations
(benefit) Provision For Income Taxes (detail)
Accrued Expenses And Other Current Liabilities (detail)
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (detail)
Aggregate Annual Rental Commitments (detail)
Allocated Purchase Price Table (detail)
Assets Under Capital Lease (detail)
Awards Granted Assumptions (detail)
Calculation Of Basic And Diluted Net Income (loss) Per Share (detail)
Change In Carrying Amount Of Goodwill (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Components Of Deferred Tax Assets And Liabilities (detail)
Components Of Property, Equipment And Software (detail)
Debt
Debt (detail)
Domestic And Foreign Components Of Income (loss) Before Provision For Income Taxes (detail)
Employee Benefit Plans
Employee Benefit Plans - Additional Information (detail)
Estimated Amortization Of Intangible Assets (detail)
Estimated Useful Lives Of Property, Equipment And Software (detail)
Funds Held For Others
Funds Held For Others - Additional Information (detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Additional Information (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Net Income (loss) Per Share
Net Income (loss) Per Share (tables)
Net Income (loss) Per Share - Additional Information (detail)
Other Intangible Assets (detail)
Other Long-term Liabilities (detail)
Outstanding Stock Options, Vested And Expected To Vest, Non-vested And Stock Options Currently Exercisable (detail)
Performance-based Restricted Share Awards Activity (detail)
Pro Forma Financial Information (detail)
Property, Equipment And Software
Property, Equipment And Software (tables)
Property, Equipment And Software - Additional Information (detail)
Reconciliation Of Income Tax (benefit) Expense Computed At Federal Statutory Tax Rate To Actual Income Tax (benefit) Expense (detail)
Related Party
Related Party - Additional Information (detail)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (detail)
Selected Quarterly Financial Data (detail)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (tables)
Share-based Compensation
Share-based Compensation (tables)
Share-based Compensation - Additional Information (detail)
Subsequent Event
Subsequent Event - Additional Information (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Stock Option Transactions Under Equity Plan, Stock Incentive Plan, Multifamily Technology Solutions Plan And Board Plan (detail)
Summary Of Time-based Restricted Share Awards' Activity (detail)
The Company
Ticker: RP
CIK: 1286225
Form Type: 10-K Annual Report
Accession Number: 0001286225-14-000008
Submitted to the SEC: Mon Mar 03 2014 3:49:05 PM EST
Accepted by the SEC: Mon Mar 03 2014
Period: Tuesday, December 31, 2013
Industry: Prepackaged Software

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