Roper Technologies, Inc.

Good morning. The Roper Technologies Conference call will now begin. Today's call is being recorded. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing star, then zero. I would like to turn the call over to Zach Moxie, Vice President, Investment Relations. Please go ahead.

Good morning, and thank you all for joining us as we discuss the first quarter financial results for Roper Technologies. Joining me on the call this morning are Neil Hunn, President and Chief Executive Officer, Jason Conley, Executive Vice President and Chief Financial Officer, Brandon Cross, Vice President and Principal Accounting Officer, and Shannon O'Callaghan, Vice President of Finance. Earlier this morning, we issued a press release announcing our financial results. The press release also includes replay information for today's call. We have prepared slides to accompany today's call, which are available through the webcast and are also available on our website. Now, if you'll please turn to page two. We begin with our safe harbor statement. During the course of today's call, we will make forward-looking statements which are subject to risks and uncertainties as described on this page, in our press release, and in our SEC filings. You should listen to today's call in the context of that information. And now please turn to page three. Today, we will discuss our results primarily on an adjusted, non-GAAP, and continuing operations basis. For the first quarter, the difference between our GAAP results and adjusted results consists of the following items, amortization of acquisition-related intangible assets, and the financial impacts associated with our minority investment in Indicor. Reconciliations can be found in our press release and in the appendix of this presentation on our website. And now, if you'll please turn to page four, I'll hand the call over to Neil. After our prepared remarks, we will take questions from our telephone participants. Neil?

Thanks, Zach, and we hope everyone's doing well this morning. We're looking forward to sharing our Q1 results with you, which were quite good. As we turn to page four, let's look at today's agenda. We'll start with our enterprise highlights and financial results, then turn to our segment-specific discussion and wrap up discussing our raised 2023 enterprise guidance. So with that, let's go ahead and get started. Next slide, please. As we turn to page five, the three main takeaways for today's call are, first, the year is off to a strong operational and financial start as our higher quality enhanced portfolio is obviously performing really well. Second, we're increasing our full-year guidance, both in terms of organic revenue growth and adjusted debts. And third, we continue to be very well positioned for discipline capital deployment. As relates to our first takeaway, a strong start to the year, we saw total revenue grow 15% and organic revenue grow 8%. Consistent with our long-standing strategy, we continue to not only scale our enterprise, but also simultaneously improve its underlying quality and recurring revenue base. Importantly, we had very strong cash flow performance with free cash flow margins in excess of 30%. Our results this quarter are another proof point that our higher quality, less cyclical portfolio was purpose-built to consistently perform at a very high level. Finally, and also during the quarter, We held our first ever Roper Leadership Summit, where we had our 27 business unit presidents together and shared best practices and learnings across a variety of topics, including strategy development, strategy enablement, and team and talent. While honoring our high-trust autonomous model, the operating and corporate teams left feeling a true sense of community. It was a terrific week. Given the strong start to the year, we're increasing our full-year organic growth outlook 100 basis points from 5% to 6% to 6% to 7%, and increasing our full-year depth guidance to be $0.1610 to $0.1630, or $0.15 at the midpoint. Our previous depth guide was $0.1590 to $0.1620. And finally, we continue to be well-positioned relative to capital deployments. We remain quite active in the market as we evaluate and actively diligence many high-quality opportunities. Jason, I'll turn the call over to you so you can walk through our first quarter results and our strong financial position. Jason.