Roper Technologies, Inc.

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

Good morning, and thank you all for joining us as we discuss the first quarter 2026 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 Chief 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. 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. 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 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?

Thank you, Zach, and thanks to everyone for joining our call. As we turn to page four, you'll see the topics we will cover today. We'll start by highlighting our Q1 enterprise performance. Then Jason will walk through the enterprise financials, our balance sheet, and provide an update on our share repurchase program. Then we'll discuss our segment highlights and outlook and introduce our Q2 and increased full-year 2026 guidance. Finally, we'll close with a few summary points before opening the call for questions. So let's go ahead and get started. Next slide, please. As you turn to page five, I want to highlight three takeaways for today's call. First, we delivered a strong start to 2026 and are raising our full year depth guidance. Our Q1 results exceeded expectations across every key metric. Total revenue grew 11%, organic revenue grew 6%, EBITDA grew 8%, free cash flow grew 11%, and depth was $5.16. Importantly, enterprise growth retention remained strong consistently in the mid-90s area. On that foundation, enterprise software bookings are also strong, core up low double digits on a TTM basis. This continues the momentum from our last call and bolsters our confidence for the balance of the year. On the back of this quarter's performance, we're raising our full year depth guidance to a range of 2180 to 2205, up 50 cents at the midpoint, and more on this later. Second, we're continuing to accelerate AI velocity across the portfolio. In Q1, AI innovation continued to broaden across our businesses, move deeper into core products, and increasingly show up in both product roadmaps and customer conversations. Businesses like Central Reach, Construct Connect, Vertifor, iPipeline, Adderant, DAT, Subsplash, and Softwriters all released meaningful new AI-enabled product capabilities during the quarter. The signal from our own portfolio that AI can be a meaningful growth driver in vertical software keeps getting clearer by the day. On the AI accelerator team at Roper, as a reminder, this is a central strike team that partners directly with our operating companies to accelerate AI product development and capture reusable patterns for deployment across the portfolio. The team is ramping quickly. The team's first partnership was with Vertifor, helping deliver AI agents unveiled at their customer conference last week. This is exactly the kind of portfolio impact we envision when we invested in this team, and we expect the pace of partnerships with our operating companies to accelerate throughout the year. And our third takeaway centers on capital deployment. Since November last year, we've repurchased 6 million shares for 2.2 billion, including 4.9 million shares for 1.7 billion year-to-date in 2026. Importantly, our board authorized an additional $3 billion of repurchase capacity, giving us $3.8 billion of remaining authorization and north of $5 billion of total capital employment capacity over the next 12 months. Our approach remains unchanged. We're disciplined and unbiased between acquisitions and opportunistic buybacks, focusing on driving the best risk-adjusted long-term cash flow compounding per share for shareholders. Our M&A pipeline today is targeted focused on high-quality strategic opportunities where we're developing deep relationships and real conviction, and we expect to remain active and disciplined long-term buyers. Before I turn it to Jason, one theme you'll hear throughout today's call. Organizational velocity across our portfolio continues to build. The investments we've made over the past two years in leadership, in AI, in modern engineering practices, and in operational rigor are working and demonstrating meaningful results. Our businesses are releasing innovation faster, executing sharper, and moving with more confidence. And that's what gives us conviction in the balance of the year and beyond. So with that, Jason, let me turn the call over to you.