Roper Technologies, Inc.

Good morning. The Rupert 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 zero on your touchstone telephone. I would now like to turn the call over to Zach Moxie, Vice President of Investor Relations.

Good morning, and thank you all for joining us as we discuss the second quarter 2025 financial results for Rupert 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, Senior 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. And 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, transaction-related expenses associated with completed acquisitions, and lastly, financial impacts associated with minority investments, including cash taxes paid resulting from the sale of our minority interest in Certinia. Reconciliations can be found in our press release and in the appendix of this presentation on our website. And now, if you please turn to page four, I'll hand the call over to Neil. After our prepared remarks, we'll take questions from our telephone participants. Neil?

Thank you, Zach, and thanks to everyone for joining us this morning. As we turn to page four, you'll see the topics we plan to cover today. We'll start with our second quarter highlights, including reviewing the platform acquisition we announced earlier today, Subsplash. Then we'll go through our segment results and our improved outlook for the full year, and then get to your questions. So let's go ahead and get started. Next slide, please. As we turn to page five, let me highlight the four key takeaways for today's call. First, we posted another solid quarter of financial results. Total revenue grew 13%, organic revenue grew 7%, software bookings grew in the high teens area, and we continued to deliver impressive cash flow with free cash flow margins coming in at 31% for the TTM period. Second, we announced earlier today the acquisition of another great vertical market software provider, Subsplash, which I'll get to in a bit. Then, given the strong first half performance and the anticipated completion of the Subsplash acquisition, We're raising our full-year total revenue guidance and our full-year depth outlook. And finally, we continue to be very well positioned for capital deployment and continue to have more than five billion of available firepower over the course of the next 12 months. Please turn to page six where we'll discuss Subsplash. Subsplash is a cloud-native and AI-enabled software provider serving faith-based organizations. As a leading provider of digital engagement, church management, and integrated giving solutions, their purpose-built platform enables customers to serve congregations while engaging with members more effectively. Subsplash partners with 20,000 faith-based organizations to help them become digitally native by deepening member engagement, reducing manual administrative burden through automation, streamlining content distribution, and integrating digital giving solutions, all supporting their customers' core mission. Simply put, Subsplash enables these organizations to allocate more time and resources to what matters most, ministering to and engaging with their congregation in a digitally native way, whether it be online or on an in-person basis. Importantly, this customer value proposition strengthens further as the company's AI-native capabilities are further deployed across the product stack. In terms of investment highlights, the purchase price is $800 million. We expect Subsplash to deliver $115 million of revenue and $36 million of EBITDA for the 12 months ending Q3 of 2026. This business meets all of our longstanding acquisition criteria, leader in a niche, competes on the basis of customer intimacy, has strong gross margins, and converts high levels of cash flow. Subsplash reflects the maturing leader acquisition profile of being a higher organic growth business, in this case in the high teens area, and competes in a $2.5 billion U.S. TAM with about half being currently served and potential to meaningfully expand internationally. In addition, Subsplash is well positioned to materially improve their gross and EBITDA margins over the next three or five years, and we expect to deliver this by executing a handful of the available levers. As a result, we expect to see Subsplash's organic revenue growth convert to high 20% EBITDA growth over the next three to five years. We will finance this transaction with a revolver and report the results in our network software segment. Subsplash represents another powerhouse addition, delivering critical solutions to a customer base with deep ongoing needs for these capabilities. To the Subsplash team, we're so excited for you to join Roper. Thank you for all the super important work you do for your customer community and for trusting Roper to become your permanent partner. So with that, let me turn the call over to Jason to walk through our P&L and balance sheet. Jason?