Roper Technologies, Inc. reported a significant increase in financial performance for the fiscal year ended December 31, 2024, with total net revenues reaching $7,039.2 million, a 13.9% increase from $6,177.8 million in 2023. The company's net earnings from continuing operations also rose to $1,549.3 million, compared to $1,368.4 million in the previous year, resulting in a diluted earnings per share of $14.35, up from $12.74. The growth was driven by strong performance across all three reportable segments: Application Software, Network Software, and Technology Enabled Products, which saw revenue increases of 21.4%, 2.5%, and 9.3%, respectively.
Roper's strategic developments included several key acquisitions in 2024, notably the purchase of Procare Software for $1,860 million and Transact Campus for $1,607 million. These acquisitions are expected to enhance Roper's capabilities in providing cloud-based software solutions and integrated payment processing. The company also completed two additional bolt-on acquisitions, further solidifying its position in the market. The total cash used in investing activities for the year was $3,468.5 million, primarily for these acquisitions.
Operationally, Roper's customer base and engagement metrics showed positive trends. The company reported a backlog of $3,105.4 million as of December 31, 2024, a slight decrease from $3,156.6 million in 2023, attributed to normalization in supply chain ordering patterns. However, the Application Software segment experienced a 6.5% increase in backlog, indicating strong demand in that area. Roper's global presence remains robust, with international sales contributing $975.9 million in 2024, reflecting the company's ongoing geographic expansion.
The filing also highlighted the company's focus on maintaining high margins and operational efficiency. The gross margin for the consolidated operations was 69.3%, slightly down from 69.7% in 2023, while the operating margin improved to 32.2% from 31.9%. Roper's employee headcount stood at approximately 18,200 as of December 31, 2024, with favorable employee relations reported across its global workforce.
Looking ahead, Roper Technologies expressed optimism about its growth trajectory, emphasizing its commitment to strategic acquisitions and product development. The company anticipates continued revenue growth driven by its diversified portfolio and strong market positions in niche sectors. However, management acknowledged potential risks, including economic conditions and integration challenges associated with new acquisitions, which could impact future performance.
About ROPER TECHNOLOGIES INC
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