Roper Technologies, Inc.

Good morning. The Roper Technologies conference call will now begin. Today's call is being recorded, and all participants will be in listen-only mode. Should you need operator assistance, please signal conference presence by pressing the star key followed by zero. And now I'd like to turn the conference over to Zach Moxley, Vice President, Investor Relations. Please go ahead, sir.

Good morning, and thank you all for joining us as we discuss the second 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 second 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 will hand the call over to Neil. After our prepared remarks, we will take questions from our telephone participants. Neil?

Thanks, Neil, and thanks to everyone for joining our call. We're looking forward to sharing our second quarter results with you this morning, which, like Q1, were quite good. As we turn to page four, let's look at today's agenda. I'll start with our second quarter enterprise highlights, then ask Jason to share our financial results. After that, we'll turn to our segment-specific discussion and wrap up outlining our increased 2023 enterprise guidance. So let's go ahead and get started. Next slide, please. As we turn to page five, the four main takeaways for today's call are, first, We continue to perform extremely well and had a very strong second quarter, another demonstration of the quality of our portfolio businesses. Second, we're increasing our foliar guidance, both in terms of total and organic revenue growth and adjusted depths. Third, generative AI. We're very excited by the promise of this technology and outline reasons why today. And fourth, we remain very well positioned for disciplined capital deployment. As it relates to the first takeaway, a strong start to the year and a solid second quarter, we saw total revenue grow 17% and organic revenue grow 9%. Consistent with our longstanding 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 growing 17% in the quarter. 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. Given the strong second quarter, we're increasing our full-year total revenue growth to be around 13%, increasing our organic revenue growth to be around 7%, and increasing our full-year depth guidance to be in the range of 1636 to $16.50, or up 23 cents at the midpoint versus our previous guidance of $16.10 to $16.30. Third, relative to Gen AI, we feel we're structurally advantaged and excited by this technology, as our vertical and application-specific businesses will use their specialized market positions and knowledge to provide context to these enabling technologies, both to create customer value and internal productivity gains. More on this during today's call. And finally, we continue to be well positioned relative to capital deployment. We remain 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 second quarter results and our very strong financial position. Jason.