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Realpage, Inc. (RP) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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Realpage Inc

CIK: 1286225 Ticker: RP
Exhibit 99.1

RealPage Reports First Quarter 2020 Financial Results

RICHARDSON, Texas--(BUSINESS WIRE)--May 6, 2020--RealPage, Inc.(NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry, today announced financial results for the first quarter ended March 31, 2020.

First Quarter 2020 Financial Highlights

  • GAAP total revenue of $276.7 million, an increase of 18% year-over-year;
  • Net income of $5.6 million, or $0.06 in net income per diluted share, a year-over-year decrease of 50%;
  • Adjusted EBITDA of $71.5 million, an increase of 10% year-over-year; and
  • Non-GAAP net income of $40.3 million, or $0.43 in non-GAAP net income per diluted share, a year-over-year increase of 7% and 8%, respectively.

Comments on the News

“In the face of COVID-19 headwinds that began to impact our business in March, we are reporting solid first quarter results that include revenue growth of 18% and, excluding changes in restricted cash relating to accounting treatment changes, operating cash flow growth of 22%, both compared to the prior year period,” said Steve Winn, Chairman and CEO of RealPage. “While our range of financial expectations for 2020 includes anticipated headwinds related to lower leasing velocity and delayed new client projects, we remain focused on leading the industry through the storm, including rapidly delivering innovative solutions to optimize rental housing operations such as those that facilitate virtual leasing, living and payments.”

“We are reducing our full year revenue growth outlook by 300 to 500 basis points and our adjusted EBITDA margin guidance by 150 basis points,” said Tom Ernst, CFO and Treasurer of RealPage. “This reduction is driven by lower expectations for bookings in the first half, and slower leasing velocity. While we intend to adjust variable costs due to lower revenue and the realization of some productivity improvements, we do not expect to reduce product development or sales & marketing spend given our view that clients will have an increased need for products and services that help them accelerate their transition to more virtual operations.”


The following information was filed by Realpage Inc (RP) on Wednesday, May 6, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Realpage Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Acquisitions
Acquisitions (Tables)
Acquisitions - 2019 Acquisitions (Details)
Acquisitions - 2020 Acquisitions (Details)
Acquisitions - Allocated Purchase Price (Details)
Acquisitions - Pro Forma Financial Information (Details)
Acquisitions - Schedule Of Contingent Consideration Rollforward (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Debt
Debt - Narrative (Details)
Debt (Tables)
Debt - Convertible Debt (Details)
Debt - Debt Maturities (Details)
Debt - Schedule Of Debt (Details)
Derivative Financial Instruments
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Fair Value By Balance Sheet Location (Details)
Derivative Financial Instruments - Gain (Loss) On Derivatives (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value (Details)
Fair Value Measurements - Changes In Level 3 Fair Values (Details)
Fair Value Measurements - Narrative (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Change In Carrying Amount Of Goodwill (Details)
Goodwill And Intangible Assets - Identified Intangible Assets (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Leases
Leases - Narrative (Details)
Leases (Tables)
Leases - Assets And Liabilities Of Lessee (Details)
Leases - Lease Cost (Details)
Leases - Schedule Of Lease Maturity (Details)
Leases - Supplemental Cash Flow Information (Details)
Net Income Per Share
Net Income Per Share (Tables)
Net Income Per Share - Additional Information (Details)
Net Income Per Share - Calculation Of Basic And Diluted Net Income Per Share (Details)
Property, Equipment And Software
Property, Equipment And Software (Tables)
Property, Equipment And Software - Additional Information (Details)
Property, Equipment And Software - Components Of Property, Equipment And Software (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Capitalized Contract Cost (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Remaining Performance Obligations (Details)
Stock-Based Expense
Stock-Based Expense - Schedule Of Stock-Based Expense (Details)
Stock-Based Expense (Tables)
Stock-Based Expense - Narrative (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Changes In Aoci (Details)
Stockholders' Equity - Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Accounts Receivable Allowance For Credit Losses (Details)
Summary Of Significant Accounting Policies - Additional Information (Details)
The Company

Material Contracts, Statements, Certifications & more

Realpage Inc provided additional information to their SEC Filing as exhibits

Ticker: RP
CIK: 1286225
Form Type: 10-Q Quarterly Report
Accession Number: 0001286225-20-000016
Submitted to the SEC: Fri May 08 2020 5:04:09 PM EST
Accepted by the SEC: Fri May 08 2020
Period: Tuesday, March 31, 2020
Industry: Prepackaged Software

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