RealPage 8K Reports First Quarter 2015 Financial Results | RP 5 May 15

Exhibit 99.2

RealPage, Inc.
Fact Sheet
			Q1 2013			Q2 2013			Q3 2013			Q4 2013			FY 2013			Q1 2014			Q2 2014			Q3 2014			Q4 2014			FY 2014			Q1 2015
Revenue ($000's)
	Total GAAP Revenue		$	88,981		$	94,451		$	98,071		$	95,519		$	377,022		$	100,563		$	94,988		$	104,536		$	104,464		$	404,551		$	110,470
	Growth %			20	%		20	%		18	%		11	%		17	%		13	%		1	%		7	%		9	%		7	%		10	%

	Total NON GAAP Revenue		$	88,983		$	94,451		$	99,864		$	96,441		$	379,739		$	101,887		$	94,781		$	104,144		$	104,174		$	404,986		$	110,004
	Growth %			19	%		20	%		20	%		12	%		18	%		15	%		0	%		4	%		8	%		7	%		8	%

	GAAP On Demand Revenue		$	85,322		$	90,825		$	94,084		$	92,081		$	362,312		$	97,008		$	91,606		$	100,747		$	101,261		$	390,622		$	106,460
	Growth %			21	%		21	%		19	%		13	%		18	%		14	%		1	%		7	%		10	%		8	%		10	%

	NON GAAP On Demand Revenue		$	85,324		$	90,825		$	95,877		$	93,003		$	365,029		$	98,332		$	91,399		$	100,355		$	100,971		$	391,057		$	105,994
	Growth %			21	%		21	%		21	%		14	%		19	%		15	%		1	%		5	%		9	%		7	%		8	%

	On Premise Revenue		$	950		$	1,011		$	838		$	892		$	3,691		$	865		$	826		$	755		$	648		$	3,094		$	741
	Professional & Other Revenue		$	2,709		$	2,615		$	3,149		$	2,546		$	11,019		$	2,690		$	2,556		$	3,034		$	2,555		$	10,835		$	3,269
Expenses ($000's)
Cost of Revenue
	GAAP View		$	35,364		$	37,340		$	38,111		$	37,506		$	148,321		$	39,927		$	42,115		$	46,311		$	46,518		$	174,871		$	47,724
		Stock-based compensation		(750	)		(676	)		(785	)		(900	)		(3,111	)		(1,007	)		(866	)		(1,141	)		(812	)		(3,826	)		(1,234	)
		Amortization		(1,967	)		(2,028	)		(1,656	)		(2,062	)		(7,713	)		(2,423	)		(2,447	)		(2,982	)		(2,860	)		(10,712	)		(2,814	)
	Non GAAP		$	32,647		$	34,636		$	35,670		$	34,544		$	137,497		$	36,497		$	38,802		$	42,188		$	42,846		$	160,333		$	43,676
		Depreciation		(1,843	)		(1,444	)		(1,480	)		(1,800	)		(6,567	)		(1,858	)		(2,013	)		(2,311	)		(2,330	)		(8,512	)		(2,405	)
	Adjusted EBITDA View		$	30,804		$	33,192		$	34,190		$	32,744		$	130,930		$	34,639		$	36,789		$	39,877		$	40,516		$	151,821		$	41,271

Product Development
	GAAP View		$	12,038		$	11,727		$	13,232		$	13,641		$	50,638		$	14,841		$	15,941		$	17,528		$	16,108		$	64,418		$	17,977
		Stock-based compensation		(1,131	)		(721	)		(1,271	)		(1,665	)		(4,788	)		(1,912	)		(2,144	)		(2,707	)		(1,874	)		(8,637	)		(2,719	)
		Asset Impairment		-			-			-			-			-			-			-			-			-			-			(599	)
	Non GAAP View		$	10,907		$	11,006		$	11,961		$	11,976		$	45,850		$	12,929		$	13,797		$	14,821		$	14,234		$	55,781		$	14,659
		Depreciation		(754	)		(632	)		(749	)		(909	)		(3,044	)		(1,043	)		(1,171	)		(1,319	)		(1,375	)		(4,908	)		(1,256	)
	Adjusted EBITDA View		$	10,153		$	10,374		$	11,212		$	11,067		$	42,806		$	11,886		$	12,626		$	13,502		$	12,859		$	50,873		$	13,403

Sales & Marketing
	GAAP View		$	22,902		$	23,924		$	25,166		$	23,902		$	95,894		$	25,991		$	28,030		$	29,949		$	27,593		$	111,563		$	28,951
		Stock-based compensation		(3,201	)		(2,004	)		(2,686	)		(3,102	)		(10,993	)		(3,143	)		(3,101	)		(3,774	)		(2,948	)		(12,966	)		(3,789	)
		Amortization		(2,146	)		(2,264	)		(2,586	)		(2,939	)		(9,935	)		(2,892	)		(2,847	)		(2,875	)		(2,886	)		(11,500	)		(2,766	)
	Non GAAP View		$	17,555		$	19,656		$	19,894		$	17,861		$	74,966		$	19,956		$	22,082		$	23,300		$	21,759		$	87,097		$	22,396
		Depreciation		(319	)		(244	)		(263	)		(323	)		(1,149	)		(407	)		(479	)		(555	)		(478	)		(1,919	)		(499	)
	Adjusted EBITDA View		$	17,236		$	19,412		$	19,631		$	17,538		$	73,817		$	19,549		$	21,603		$	22,745		$	21,281		$	85,178		$	21,897

General & Administrative
	GAAP View		$	16,507		$	12,819		$	15,554		$	15,730		$	60,610		$	20,929		$	16,819		$	15,443		$	16,011		$	69,202		$	18,863
		Stock-based compensation		(2,163	)		(2,660	)		(2,994	)		(2,988	)		(10,805	)		(3,163	)		(3,922	)		(1,914	)		(2,622	)		(11,621	)		(3,005	)
		Amortization		-			-			-			-			-			-			(192	)		-			-			(192	)		-
		Asset Disposal/Impairment		(3	)		(270	)		(37	)		(4	)		(314	)		(20	)		-			(16	)		(350	)		(386	)		(520	)
		Acquisition-Related Expense		(2,774	)		949			(288	)		(1,156	)		(3,269	)		(881	)		(357	)		(860	)		111			(1,987	)		(1,092	)
		Litigation-related expense		(406	)		353			(278	)		(330	)		(661	)		(4,677	)		(168	)		(39	)		(31	)		(4,915	)		(2	)
	Non GAAP View		$	11,161		$	11,191		$	11,957		$	11,252		$	45,561		$	12,188		$	12,180		$	12,614		$	13,119		$	50,101		$	14,244
		Depreciation		(769	)		(808	)		(871	)		(889	)		(3,337	)		(880	)		(917	)		(920	)		(844	)		(3,561	)		(871	)
		Other (Income)/Expense		(268	)		(10	)		-			(72	)		(350	)		(3	)		(4	)		(4	)		(4	)		(15	)		-
	Adjusted EBITDA View		$	10,124		$	10,373		$	11,086		$	10,291		$	41,874		$	11,305		$	11,259		$	11,690		$	12,271		$	46,525		$	13,373
Earnings
	Adjusted EBITDA ($000's)		$	20,666		$	21,100		$	23,745		$	24,801		$	90,312		$	24,508		$	12,504		$	16,330		$	17,247		$	70,589		$	20,060
	Margin			23	%		22	%		24	%		26	%		24	%		24	%		13	%		16	%		17	%		17	%		18	%

	Non-GAAP Net Income ($000's)		$	9,975		$	10,420		$	12,087		$	12,391		$	44,873		$	12,057		$	4,629		$	6,526		$	7,130		$	30,342		$	8,857
	Margin			11	%		11	%		12	%		13	%		12	%		12	%		5	%		6	%		7	%		7	%		8	%

	Non-GAAP EPS		$	0.13		$	0.14		$	0.16		$	0.16		$	0.59		$	0.16		$	0.06		$	0.08		$	0.09		$	0.39		$	0.11
	Growth			30	%		27	%		33	%		14	%		26	%		23	%		-57	%		-50	%		-44	%		-34	%		-31	%

On Demand Revenue Detail ($000's)
	Leasing and Marketing		$	29,499		$	30,858		$	33,599		$	30,484		$	124,440		$	32,427		$	28,945		$	29,805		$	27,006		$	118,183		$	29,369
		% of Total		35	%		34	%		35	%		33	%		34	%		33	%		32	%		30	%		27	%		30	%		28	%
		Y-O-Y growth		16	%		15	%		18	%		9	%		14	%		10	%		-6	%		-11	%		-11	%		-5	%		-9	%

	Property Management		$	25,189		$	26,626		$	28,379		$	28,336		$	108,530		$	28,868		$	29,622		$	31,260		$	31,683		$	121,433		$	32,731
		% of Total		30	%		29	%		30	%		30	%		30	%		29	%		32	%		31	%		31	%		31	%		31	%
		Y-O-Y growth		13	%		15	%		20	%		13	%		15	%		15	%		11	%		10	%		12	%		12	%		13	%

	Resident Services		$	22,155		$	24,451		$	24,476		$	24,513		$	95,595		$	26,910		$	22,626		$	28,898		$	31,672		$	110,106		$	33,064
		% of Total		26	%		27	%		26	%		26	%		26	%		27	%		25	%		29	%		31	%		28	%		31	%
		Y-O-Y growth		31	%		34	%		25	%		17	%		26	%		21	%		-7	%		18	%		29	%		15	%		23	%

	Asset Optimization		$	8,481		$	8,890		$	9,423		$	9,670		$	36,464		$	10,127		$	10,206		$	10,392		$	10,610		$	41,335		$	10,830
		% of Total		10	%		10	%		10	%		10	%		10	%		10	%		11	%		10	%		11	%		11	%		10	%
		Y-O-Y growth		39	%		33	%		31	%		22	%		31	%		19	%		15	%		10	%		10	%		13	%		7	%
On Demand Revenue Detail ($000's)
	Subscription		$	69,361		$	73,440		$	76,435		$	79,082		$	298,318		$	82,126		$	82,420		$	87,012		$	92,326		$	343,884		$	93,983
		% of Total		81	%		81	%		80	%		85	%		82	%		84	%		90	%		87	%		91	%		88	%		89	%
		Y-O-Y growth		20	%		22	%		21	%		17	%		20	%		18	%		12	%		14	%		17	%		15	%		14	%

	Transactional		$	15,963		$	17,385		$	19,442		$	13,921		$	66,711		$	16,206		$	8,979		$	13,343		$	8,645		$	47,173		$	12,011
		% of Total		19	%		19	%		20	%		15	%		18	%		16	%		10	%		13	%		9	%		12	%		11	%
		Y-O-Y growth		22	%		20	%		23	%		-4	%		15	%		2	%		-48	%		-31	%		-38	%		-29	%		-26	%

ACV
	Non-GAAP On Demand Annual Customer Value ($000's)		$	350,174		$	364,801		$	386,039		$	378,131					$	398,976		$	367,249		$	404,055		$	405,248					$	427,091
	Total ACV Growth (QTD)			23	%		21	%		20	%		14	%					14	%		1	%		5	%		7	%					7	%
	Organic ACV Growth (QTD)			20	%		20	%		19	%		11	%					13	%		-1	%		3	%		6	%					6	%
Unit Trend
	On Demand Units - Ending (000's)			8,545			8,616			8,730			9,022						9,285			9,371			9,496			9,560						9,700
Average Unit Renewal Rate
	Average Renewal Rate (8 quarters)			95.3	%		95.5	%		95.4	%		95.3	%					95.2	%		95.2	%		95.3	%		95.3	%					95.6	%
RPU
	NON GAAP On Demand RPU (QTD) (whole $)		$	40.98		$	42.34		$	44.22		$	41.91					$	42.97		$	39.19		$	42.55		$	42.39					$	44.03
Top ACV / RPU
	Top 100 ACV ($000's)		$	163,454		$	164,474		$	172,727		$	177,723					$	184,204		$	184,181		$	187,588		$	183,478					$	187,650

	Top 100 ACV RPU		$	54.88		$	55.85		$	57.85		$	58.71					$	57.48		$	59.12		$	60.68		$	59.30					$	59.99

	Top 50 RPU Clients ACV ($000's)		$	48,478		$	43,784		$	44,352		$	46,896					$	45,375		$	44,641		$	46,876		$	45,984					$	50,167

	Top 50 RPU Clients RPU		$	126.50		$	132.80		$	133.70		$	135.60					$	136.60		$	141.90		$	142.10		$	146.71					$	150.03

Industry Data
	Occupancy			94.9	%		95.3	%		95.4	%		95.0	%					95.0	%		95.6	%		95.7	%		95.3	%					95.5	%

	Annual Change in effective rents			2.6	%		3.1	%		3.2	%		2.8	%					2.9	%		3.5	%		3.7	%		4.6	%					4.6	%

	Supply (trailing-twelve month)												163.2															232.0						240.0

Headcount
Total Ending RP Headcount				3,217			3,396			3,320			3,337						3,506			3,758			3,757			3,875						3,898

Total International Headcount (included above)				682			799			858			900						977			1,153			1,216			1,363						1,393
% International Headcount				21	%		24	%		26	%		27	%					28	%		31	%		32	%		35	%					36	%

⁽¹⁾ Based on information from MPF Research.

Definitions
*Please read in conjunction with the Company's Annual Report on Form 10-K previously filed with the Securities and Exchange Commission on March 2, 2015 as well as the explanation of Non-GAAP measures posted to the Company's IR website.
**Please note that amounts in prior periods are reclassified whenever necessary to conform to the current period presentation.
Subscription on demand revenue: Represents revenue from products related to license and subscription fees comprised of a charge billed at the initial order date and monthly or annual subscription fees for accessing our on demand software solutions. The license fee billed at the initial order date is recognized as revenue on a straight-line basis over the longer of the contractual term or the period in which the customer is expected to benefit, which we consider to be three years. Recognition starts once the product has been activated. Revenue from monthly and annual subscription fees is recognized on a straight-line basis over the access period.
Transactional on demand revenue: Represents revenue related to services performed influenced by leasing velocity (resident renewal/churn rate). This revenue stream is primarily related to our Leasing and Marketing solutions consisting of transactional elements of our Screening, Websites, Lead Generation, and Contact Center solutions. It also includes transactional elements of our Renter’s Insurance (contingent commission) and Spend Management solutions.
Leasing and Marketing on demand revenue: Consists of our Screening, Websites, Lead Management, Lead Generation, and Contact Center solutions. On demand annual revenue from this product family is approximately 70% subscription.
Property Management on demand revenue: Consists of our Facilities, Accounting, Property Management, and Spend Management solutions. On demand annual revenue from this product family is approximately 95% subscription.
Resident Services on demand revenue: Consists of our Renter’s Insurance, Resident Billing, Payments, Online Living and Contact Center Maintenance solutions. On demand annual revenue from this product family is approximately 95% subscription.
Asset Optimization on demand revenue: Consists of our YieldStar, Business Intelligence and MPF Research solutions. On demand annual revenue from this product family is 100% subscription.

RealPage (RP) 8-KRealPage Reports First Quarter 2015 Financial Results