RealPage Reports Q4 and Full Year 2012 Financial Results

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Wednesday, February 20th 2013
  • 2012 Q4 Non-GAAP revenue increases 20.2% to $85.7 million
  • 2012 Q4 Non-GAAP on demand revenue increases 22.3% to $81.8 million
  • 2012 Q4 adjusted EBITDA increases 33.5% to $20.8 million
  • 2012 Q4 Non-GAAP earnings per share increases 40.0% to $0.14 per diluted share
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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, 2012.

“2012 was a solid year of financial performance,” said Steve Winn, Chairman and CEO of Realpage. “It was also a year of investment, which helped us start to solidify our marketing solutions. 2013 will be a continuation of what we have done since we built this company: expand new units and cross-sell additional software and software-enabled services into our installed base.”

Fourth Quarter 2012 Financial Highlights

  • Non-GAAP total revenue was $85.7 million, an increase of 20.2% year-over-year;
  • Non-GAAP on demand revenue was $81.8 million, an increase of 22.3% year-over-year;
  • Adjusted EBITDA was $20.8 million, an increase of 33.5% year-over-year;
  • Non-GAAP net income was $10.2 million, or $0.14 per diluted share, a year-over-year increase of 42.7% and 40.0%, respectively; and
  • GAAP net income was $3.7 million, or $0.05 per diluted share, compared to GAAP net income of $0.2 million, or $0.00 per diluted share, in the prior year quarter.

Full Year 2012 Financial Highlights

  • Non-GAAP total revenue was $322.3 million, an increase of 24.6% year-over-year;
  • Non-GAAP on demand revenue was $306.5 million, an increase of 27.6% year-over-year;
  • Adjusted EBITDA was $73.3 million, an increase of 29.9% year-over-year;
  • Non-GAAP net income was $34.9 million, or $0.47 per diluted share, a year-over-year increase of 37.1% and 30.6%, respectively; and
  • GAAP net income was $5.2 million, or $0.07 per diluted share, compared to a GAAP net loss of $1.2 million, or $0.02 per diluted share, in the prior year quarter.

Financial Outlook

RealPage management expects to achieve the following results during its first quarter ended March 31, 2013:

  • Non-GAAP total revenue is expected to be in the range of $88.0 million to $89.5 million;
  • Adjusted EBITDA is expected to be in the range of $20.0 million to $21.0 million;
  • Non-GAAP net income is expected to be in the range of $9.6 million to $10.2 million, or $0.13 to $0.14 per diluted share;
  • Non-GAAP tax rate of approximately 40.0%; and
  • Weighted average shares outstanding of approximately 75.6 million.

RealPage management expects to achieve the following results during its calendar year ended December 31, 2013:

Contacts

RealPage, Inc.
Investor Relations
Rhett Butler, 972-820-3773
rhett.butler@realpage.com

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