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

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.