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Realpage, Inc. (RP) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Realpage Inc

CIK: 1286225 Ticker: RP

Exhibit 99.1

 

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RealPage Reports Fourth Quarter 2020 Financial Results

RICHARDSON, Texas (February 10, 2021) —

RealPage, Inc. (NASDAQ: RP), a leading global provider of software and data analytics to the real estate industry, today announced financial results for the fourth quarter and full year ended December 31, 2020.

Fourth Quarter 2020 Financial Highlights

 

   

GAAP total revenue of $298.1 million, an increase of 17% year-over-year;

 

   

Net income of $13.1 million, or $0.12 in net income per diluted share, a year-over-year decrease of 35% and 43%, respectively;

 

   

Adjusted EBITDA of $84.9 million, an increase of 12% year-over-year; and,

 

   

Non-GAAP net income of $51.4 million, or $0.50 in non-GAAP net income per diluted share, a year-over-year increase of 14% and 4%, respectively.

Full Year 2020 Financial Highlights

 

   

GAAP total revenue of $1.2 billion, an increase of 17% year-over-year;

 

   

Net income of $46.3 million, or $0.46 in net income per diluted share, a year-over-year decrease of 20% and 23%, respectively;

 

   

Adjusted EBITDA of $322.5 million, an increase of 14% year-over-year; and,

 

   

Non-GAAP net income of $191.3 million, or $1.94 in non-GAAP net income per diluted share, a year-over-year increase of 16% and 10%, respectively.

Comments on the News

“In the fourth quarter, we continued to execute on our long-term strategy, and delivered another quarter of strong financial results. This performance continues to demonstrate the industry’s need for digital solutions and the capabilities of the superior products RealPage has built over the last two decades,” said Steve Winn, Chairman and CEO of RealPage.

“During the fourth quarter, as our customers continued their shift to a work-from-home model, RealPage was there with immediate solutions that were easy to implement and provided real-time returns on investment,” Winn continued. “In addition, at quarter-end, we closed the acquisition of WhiteSky Communications, a move that completed the CommunityConnect trifecta of smart building offerings and positions us to enter the surging market for multifamily bulk Wi-Fi services.”

 

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The following information was filed by Realpage Inc (RP) on Wednesday, February 10, 2021 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 Realpage Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Condensed Balance Sheets (Parenthetical)
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accounts Receivable
Accounts Receivable (Details)
Accounts Receivable (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - 2020 Acquisitions (Details)
Acquisitions - Acquisitions Prior To 2020 (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 (Detail)
Customer Deposits Held In Restricted Accounts
Customer Deposits Held In Restricted Accounts - Additional Information (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Convertible Notes (Details)
Debt - Schedule Of Interest On Convertible Notes (Details)
Debt - Schedule Of Long Term Debt (Details)
Debt - Schedule Of Maturities Of Long Term Debt (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Fair Value By Balance Sheet Location (Details)
Derivative Financial Instruments - Gain (Loss) On Derivatives (Details)
Derivative Financial Instruments - Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured On Recurring Basis (Details)
Fair Value Measurements - Changes In Level 3 Fair Values (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Valuation Inputs (Details)
Goodwill And Identified Intangible Assets
Goodwill And Identified Intangible Assets - Additional Information (Detail)
Goodwill And Identified Intangible Assets - Change In Carrying Amount Of Goodwill (Detail)
Goodwill And Identified Intangible Assets - Estimated Amortization Of Intangible Assets (Detail)
Goodwill And Identified Intangible Assets - Other Intangible Assets (Detail)
Goodwill And Other Intangible Assets (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Benefit For Income Taxes (Detail)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Detail)
Income Taxes - Domestic And Foreign Components Of (Loss) Income Before Provision For Income Taxes (Detail)
Income Taxes - Reconciliation Of Income Tax Benefit Computed At Federal Statutory Tax Rate To Actual Income Tax (Benefit) Expense (Detail)
Leases - Assets And Liabilities Of Lessee (Details)
Leases - Lease Cost (Details)
Leases - Narrative (Details)
Leases - Schedule Of Lease Maturity (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases Leases
Leases Leases (Tables)
Net Income Per Share
Net Income Per Share (Tables)
Net Income Per Share - Additional Information (Detail)
Net Income Per Share - Calculation Of Basic And Diluted Net Income (Loss) Per Share (Detail)
Property, Equipment And Software
Property, Equipment And Software (Tables)
Property, Equipment And Software - Additional Information (Detail)
Property, Equipment And Software - Components Of Property, Equipment And Software (Detail)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition Revenue Recognition - Capitalized Contract Cost (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts Changes In Allowance For Doubtful Accounts (Details)
Selected Quarterly Financial Data (Details)
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Tables)
Stock-Based Expense And Employee Benefits
Stock-Based Expense And Employee Benefits (Tables)
Stock-Based Expense And Employee Benefits - Additional Information (Detail)
Stock-Based Expense And Employee Benefits - Awards Granted Assumptions (Detail)
Stock-Based Expense And Employee Benefits - Outstanding Stock Options, Vested And Expected To Vest, Non-Vested And Stock Options Currently Exercisable (Detail)
Stock-Based Expense And Employee Benefits - Performance-Based Restricted Share Awards Activity (Detail)
Stock-Based Expense And Employee Benefits - Schedule Of Stock-Based Compensation Cost (Details)
Stock-Based Expense And Employee Benefits - Summary Of Stock Option Transactions Under Equity Plan, Stock Incentive Plan, Multifamily Technology Solutions Plan And Board Plan (Detail)
Stock-Based Expense And Employee Benefits - Summary Of Time-Based Restricted Share Awards' Activity (Detail)
Stockholders' Equity
Stockholders' Equity (Details)
Stockholders' Equity (Tables)
Stockholders' Equity - Changes In Aoci (Details)
Stockholders' Equity -Repurchase Activity (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 - Accrued Expenses And Other Current Liabilities (Details)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Estimated Useful Lives Of Finite Lived Intangible Assets (Details)
Summary Of Significant Accounting Policies - Estimated Useful Lives Of Property, Equipment And Software (Detail)
Summary Of Significant Accounting Policies - Other Long Term Liabilities (Details)
The Company
The Company - Narrative (Details)
Ticker: RP
CIK: 1286225
Form Type: 10-K Annual Report
Accession Number: 0001286225-21-000007
Submitted to the SEC: Mon Mar 01 2021 6:57:35 AM EST
Accepted by the SEC: Mon Mar 01 2021
Period: Thursday, December 31, 2020
Industry: Prepackaged Software

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