Roper Technologies, Inc. reported significant financial growth in its unaudited Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2024. The company achieved net revenues of $1,764.6 million for the third quarter, marking a 12.9% increase from $1,563.4 million in the same period of 2023. For the nine months, revenues rose to $5,162.1 million, up 13.1% from $4,564.3 million year-over-year.
Gross profit for the third quarter was $1,221.7 million, an 11.4% increase from $1,096.3 million in Q3 2023. For the nine-month period, gross profit reached $3,596.0 million, reflecting a 13.0% increase from $3,182.0 million. The company’s income from operations for the third quarter was $496.6 million, compared to $446.1 million in the prior year, while for the nine months, it increased to $1,472.1 million from $1,282.4 million.
Net earnings from continuing operations for the third quarter were $367.9 million, up from $345.6 million in Q3 2023, and for the nine months, net earnings rose to $1,087.0 million from $990.9 million. Basic net earnings per share for the third quarter increased to $3.43 from $3.25, and for the nine months, it rose to $10.15 from $9.34.
The Application Software segment was a key driver of growth, with revenues for the third quarter reaching $984.4 million, a 22.5% increase from $803.4 million in Q3 2023. This segment also saw a gross profit increase of 20.6% for the quarter. The Network Software segment reported slight growth, with revenues of $367.1 million, while the Technology Enabled Products segment increased to $413.1 million.
Roper made strategic acquisitions, including Genesis Ultimate Holding Co. (Procare) for $1,860 million and RCP Vega Holdings, LLC (Transact) for $1,607 million. These acquisitions contributed to a significant increase in cash used in investing activities, which totaled $(3,528.2) million for the nine months ended September 30, 2024, compared to $(2,010.7) million in the same period of 2023.
The company’s total assets increased to $31,552.7 million as of September 30, 2024, up from $28,167.5 million at the end of 2023. Total stockholders’ equity also rose to $18,515.5 million from $17,444.8 million. Roper's total debt increased to $8,376.6 million, reflecting higher borrowings to finance acquisitions and operations.
Overall, Roper Technologies demonstrated robust financial performance and strategic growth through acquisitions, contributing to its strong revenue and profit increases compared to the previous fiscal period.
About ROPER TECHNOLOGIES INC
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