RealPage (RP) 8-K RealPage Reports First Quarter 2018 Financial Results

Exhibit 99.2

RealPage, Inc.
IR Fact Sheet (as of May 2, 2018)
*Please read in conjunction with the Company's 10-K previously filed with the Securities and Exchange Commission on March 1, 2018 as well as the "Explanation of Non-GAAP Financial Measures".
	FY 2015			Q1 2016			Q2 2016			Q3 2016			Q4 2016			FY 2016			Q1 2017			Q2 2017			Q3 2017			Q4 2017			FY 2017			Q1 2018
Revenue ($000's)
Total GAAP Revenue	$	468,520		$	128,383		$	142,719		$	147,955		$	149,071		$	568,128		$	152,919		$	161,306		$	169,058		$	187,680		$	670,963		$	201,301
Growth %		16	%		16	%		24	%		22	%		22	%		21	%		19	%		13	%		14	%		26	%		18	%		32	%
Acquisition-related and other deferred revenue		(2,157	)		(343	)		(258	)		(161	)		(187	)		(949	)		705			945			698			710			3,058			313
Total Non-GAAP Revenue	$	466,363		$	128,040		$	142,461		$	147,794		$	148,884		$	567,179		$	153,624		$	162,251		$	169,756		$	188,390		$	674,021		$	201,614
Growth %		15	%		16	%		25	%		22	%		23	%		22	%		20	%		14	%		15	%		27	%		19	%		31	%
GAAP On Demand Revenue	$	450,962		$	123,411		$	136,610		$	140,883		$	141,627		$	542,531		$	146,213		$	154,727		$	161,578		$	180,104		$	642,622		$	193,300
Growth %		15	%		16	%		23	%		21	%		21	%		20	%		18	%		13	%		15	%		27	%		18	%		32	%
Acquisition-related and other deferred revenue		(2,157	)		(343	)		(258	)		(161	)		(187	)		(949	)		705			945			698			710			3,058			313
Non-GAAP On Demand Revenue	$	448,805		$	123,068		$	136,352		$	140,722		$	141,440		$	541,582		$	146,918		$	155,672		$	162,276		$	180,814		$	645,680		$	193,613
Growth %		15	%		16	%		24	%		21	%		21	%		21	%		19	%		14	%		15	%		28	%		19	%		32	%
Professional and Other	$	17,558		$	4,972		$	6,109		$	7,072		$	7,444		$	25,597		$	6,706		$	6,579		$	7,480		$	7,576		$	28,341		$	8,001
Expenses ($000's)
Cost of Revenue
GAAP View	$	198,613		$	54,748		$	62,078		$	64,111		$	61,364		$	242,301		$	63,042		$	67,544		$	69,348		$	73,513		$	273,447		$	76,660
Stock-based expense		(4,046	)		(751	)		(826	)		(929	)		(804	)		(3,310	)		(853	)		(1,050	)		(1,040	)		(899	)		(3,842	)		(835	)
Amortization of intangible assets		(14,213	)		(4,165	)		(4,141	)		(4,296	)		(4,159	)		(16,761	)		(3,689	)		(3,691	)		(3,554	)		(4,378	)		(15,312	)		(3,823	)
Headquarters relocation costs		-			(584	)		(679	)		(760	)		-			(2,023	)		-			-			-			-			-			-
Non-GAAP View	$	180,354		$	49,248		$	56,432		$	58,126		$	56,401		$	220,207		$	58,500		$	62,803		$	64,754		$	68,236		$	254,293		$	72,002
Depreciation		(9,802	)		(2,692	)		(3,054	)		(2,834	)		(2,825	)		(11,405	)		(2,883	)		(3,063	)		(2,909	)		(2,935	)		(11,790	)		(2,934	)
Adjusted EBITDA View	$	170,552		$	46,556		$	53,378		$	55,292		$	53,576		$	208,802		$	55,617		$	59,740		$	61,845		$	65,301		$	242,503		$	69,068
Product Development
GAAP View	$	68,799		$	17,272		$	18,878		$	18,743		$	18,714		$	73,607		$	20,387		$	21,290		$	21,885		$	25,890		$	89,452		$	29,040
Stock-based expense		(8,585	)		(1,449	)		(1,897	)		(1,900	)		(1,825	)		(7,071	)		(1,879	)		(2,454	)		(2,098	)		(1,992	)		(8,423	)		(2,163	)
Asset impairment and loss on disposal of assets		(1,418	)		-			-			-			-			-			-			-			-			-			-			-
Headquarters relocation costs		-			(154	)		(176	)		(211	)		-			(541	)		-			-			-			-			-			-
Non-GAAP View	$	58,796		$	15,669		$	16,805		$	16,632		$	16,889		$	65,995		$	18,508		$	18,836		$	19,787		$	23,898		$	81,029		$	26,877
Depreciation		(5,279	)		(1,200	)		(1,462	)		(1,502	)		(1,572	)		(5,736	)		(1,530	)		(1,561	)		(1,698	)		(1,819	)		(6,608	)		(1,338	)
Adjusted EBITDA View	$	53,517		$	14,469		$	15,343		$	15,130		$	15,317		$	60,259		$	16,978		$	17,275		$	18,089		$	22,079		$	74,421		$	25,539
Sales & Marketing
GAAP View	$	123,108		$	32,199		$	35,129		$	33,860		$	34,025		$	135,213		$	35,147		$	39,235		$	42,583		$	48,114		$	165,079		$	50,241
Stock-based expense		(12,996	)		(2,974	)		(3,799	)		(1,406	)		(3,185	)		(11,364	)		(3,128	)		(4,266	)		(3,847	)		(3,351	)		(14,592	)		(3,541	)
Amortization of intangible assets		(11,164	)		(2,946	)		(3,596	)		(3,551	)		(3,414	)		(13,507	)		(4,100	)		(4,536	)		(5,781	)		(10,189	)		(24,606	)		(12,561	)
Headquarters relocation costs		-			(170	)		(184	)		(220	)		-			(574	)		-			-			-			-			-			-
Non-GAAP View	$	98,948		$	26,109		$	27,550		$	28,683		$	27,426		$	109,768		$	27,919		$	30,433		$	32,955		$	34,574		$	125,881		$	34,139
Depreciation		(2,170	)		(606	)		(615	)		(593	)		(586	)		(2,400	)		(588	)		(663	)		(601	)		(635	)		(2,487	)		(1,228	)
Adjusted EBITDA View	$	96,778		$	25,503		$	26,935		$	28,090		$	26,840		$	107,368		$	27,331		$	29,770		$	32,354		$	33,939		$	123,394		$	32,911
General & Administrative
GAAP View	$	68,814		$	18,346		$	21,932		$	21,677		$	23,058		$	85,013		$	24,251		$	27,370		$	31,004		$	30,350		$	112,975		$	27,090
Stock-based expense		(12,495	)		(3,217	)		(4,215	)		(4,020	)		(3,655	)		(15,107	)		(4,232	)		(6,106	)		(4,779	)		(3,861	)		(18,978	)		(3,779	)
Asset impairment and loss on disposal of assets		(1,652	)		-			(85	)		(164	)		(248	)		(497	)		(24	)		(63	)		(385	)		(52	)		(524	)		(942	)
Acquisition-related income (expense)		1,841			57			9			266			(695	)		(363	)		(1,210	)		(1,354	)		(485	)		(2,508	)		(5,557	)		(1,007	)
Cost related to Hart-Scott-Rodino review process		-			-			-			-			-			-			(481	)		(2,228	)		(5,993	)		(2,310	)		(11,012	)		-
Headquarters relocation costs		-			(117	)		(135	)		(162	)		-			(414	)		-			-			-			-			-			-
Litigation-related expense		(2	)		-			-			-			-			-			-			-			-			-			-			-
Non-GAAP View	$	56,506		$	15,069		$	17,506		$	17,597		$	18,460		$	68,632		$	18,304		$	17,619		$	19,362		$	21,619		$	76,904		$	21,362
Depreciation		(3,263	)		(998	)		(1,347	)		(1,276	)		(1,404	)		(5,025	)		(1,650	)		(1,579	)		(1,738	)		(1,376	)		(6,343	)		(1,376	)
Other (income) expense		82			(11	)		(16	)		(15	)		(25	)		(67	)		(34	)		(18	)		(136	)		(115	)		(303	)		(51	)
Adjusted EBITDA View	$	53,325		$	14,060		$	16,143		$	16,306		$	17,031		$	63,540		$	16,620		$	16,022		$	17,488		$	20,128		$	70,258		$	19,935

1

RealPage, Inc.

IR Fact Sheet (as of May 2, 2018)

*Please read in conjunction with the Company's 10-K previously filed with the Securities and Exchange Commission on March 1, 2018 as well as the "Explanation of Non-GAAP Financial Measures".

	FY 2015			Q1 2016			Q2 2016			Q3 2016			Q4 2016			FY 2016			Q1 2017			Q2 2017			Q3 2017			Q4 2017			FY 2017			Q1 2018
Profitability ($000's)
GAAP Net Income (Loss)	$	(9,218	)	$	2,996		$	2,083		$	4,210		$	7,361		$	16,650		$	8,195		$	6,213		$	6,834		$	(20,865	)	$	377		$	10,901
Acquisition-related and other deferred revenue		(2,157	)		(343	)		(258	)		(161	)		(187	)		(949	)		705			945			698			710			3,058			313
Depreciation, asset impairment, and loss on disposal of assets		44,385			5,496			6,563			7,119			6,635			25,813			6,675			6,929			7,331			6,817			27,752			7,818
Amortization of intangible assets		25,377			7,111			7,737			7,847			7,573			30,268			7,789			8,227			9,335			14,567			39,918			16,384
Acquisition-related expense (income)		(1,841	)		(57	)		(9	)		(266	)		695			363			1,210			1,354			485			2,508			5,557			1,007
Cost related to Hart-Scott-Rodino review process		-			-			-			-			-			-			481			2,228			5,993			2,310			11,012			-
Interest expense, net		1,367			719			1,090			1,079			937			3,825			1,120			2,804			4,813			6,335			15,072			7,721
Income tax (benefit) expense		(3,846	)		2,114			1,545			3,540			3,637			10,836			811			(3,132	)		(7,273	)		24,458			14,864			(301	)
Litigation-related expense		2			-			-			-			-			-			-			-			-			-			-			-
Headquarters relocation costs		-			1,025			1,174			1,353			-			3,552			-			-			-			-			-			-
Stock-based expense		38,122			8,391			10,737			8,255			9,469			36,852			10,092			13,876			11,764			10,103			45,835			10,318
Adjusted EBITDA	$	92,191		$	27,452		$	30,662		$	32,976		$	36,120		$	127,210		$	37,078		$	39,444		$	39,980		$	46,943		$	163,445		$	54,161
Non-GAAP On Demand Revenue Detail ($000's)
Property Management	$	137,239		$	36,282		$	38,467		$	39,023		$	39,118		$	152,890		$	40,341		$	41,404		$	42,175		$	43,082		$	167,002		$	45,319
% of Total		31	%		29	%		28	%		28	%		28	%		28	%		27	%		26	%		26	%		24	%		26	%		24	%
Y-O-Y growth		13	%		11	%		14	%		11	%		10	%		11	%		11	%		8	%		8	%		10	%		9	%		12	%
Resident Services	$	146,138		$	45,071		$	54,613		$	58,351		$	60,062		$	218,097		$	60,968		$	64,860		$	70,527		$	75,822		$	272,177		$	77,175
% of Total		33	%		37	%		40	%		41	%		42	%		40	%		42	%		42	%		43	%		42	%		42	%		40	%
Y-O-Y growth		33	%		36	%		60	%		50	%		49	%		49	%		35	%		19	%		21	%		26	%		25	%		27	%
Leasing and Marketing	$	118,697		$	28,925		$	29,618		$	29,451		$	27,562		$	115,556		$	27,815		$	29,324		$	29,334		$	37,563		$	124,036		$	39,434
% of Total		26	%		24	%		22	%		21	%		20	%		22	%		19	%		19	%		18	%		21	%		19	%		20	%
Y-O-Y growth		0	%		-2	%		-3	%		-2	%		-3	%		-3	%		-4	%		-1	%		0	%		36	%		7	%		42	%
Asset Optimization	$	46,731		$	12,790		$	13,654		$	13,897		$	14,698		$	55,039		$	17,794		$	20,084		$	20,240		$	24,347		$	82,465		$	31,685
% of Total		10	%		10	%		10	%		10	%		10	%		10	%		12	%		13	%		13	%		13	%		13	%		16	%
Y-O-Y growth		13	%		18	%		17	%		15	%		20	%		18	%		39	%		47	%		46	%		66	%		50	%		78	%
Non-GAAP On Demand Revenue Detail ($000's)
Subscription	$	399,211		$	110,464		$	123,404		$	127,155		$	128,455		$	489,478		$	134,325		$	141,459		$	152,564		$	158,958		$	587,306		$	169,687
% of Total		89	%		90	%		91	%		90	%		91	%		90	%		91	%		91	%		94	%		88	%		91	%		88	%
Y-O-Y growth		16	%		18	%		27	%		24	%		22	%		23	%		22	%		15	%		20	%		24	%		20	%		26	%
Transactional	$	49,594		$	12,604		$	12,948		$	13,567		$	12,985		$	52,104		$	12,593		$	14,213		$	9,712		$	21,856		$	58,374		$	23,926
% of Total		11	%		10	%		9	%		10	%		9	%		10	%		9	%		9	%		6	%		12	%		9	%		12	%
Y-O-Y growth		5	%		5	%		1	%		3	%		13	%		5	%		0	%		10	%		-28	%		68	%		12	%		90	%
Annual Contract Value ($000's)
Non-GAAP On Demand Annual Customer Value				$	529,052		$	548,917		$	565,700		$	566,263					$	596,159		$	649,017		$	708,836		$	751,183					$	779,446
Total ACV Growth (QTD)					24	%		21	%		21	%		21	%					13	%		18	%		25	%		33	%					31	%
Organic ACV Growth (QTD)					10	%		11	%		10	%		10	%					11	%		11	%		11	%		11	%					10	%
Unit Trend (000's)
On Demand Units - Ending					10,999			11,141			11,251			10,989						11,112			11,485			12,253			13,003						13,173
Average Unit Renewal Rate
Average Renewal Rate (8 quarters)					96.9	%		97.0	%		97.0	%		96.9	%					96.8	%		96.6	%		96.2	%		96.2	%					96.2	%
RPU
Non-GAAP On Demand RPU (QTD) (whole $)				$	48.10		$	49.27		$	50.28		$	51.53					$	53.65		$	56.51		$	57.85		$	57.77					$	59.17
Top ACV / RPU
Top 100 ACV ($000's)				$	232,031		$	240,850		$	245,947		$	253,206					$	255,262		$	269,154		$	288,315		$	304,601					$	319,642
Top 100 ACV RPU				$	71.02		$	69.68		$	72.63		$	78.32					$	79.59		$	84.92		$	84.11		$	81.78					$	85.64
Top 50 RPU Clients RPU				$	168.58		$	172.32		$	177.21		$	186.47					$	187.48		$	182.61		$	187.66		$	195.30					$	201.45

2

RealPage, Inc.

IR Fact Sheet (as of May 2, 2018)

*Please read in conjunction with the Company's 10-K previously filed with the Securities and Exchange Commission on March 1, 2018 as well as the "Explanation of Non-GAAP Financial Measures".

	FY 2015	Q1 2016			Q2 2016			Q3 2016			Q4 2016			FY 2016	Q1 2017			Q2 2017			Q3 2017			Q4 2017			FY 2017	Q1 2018
Headcount
Total Ending RP Headcount			4,445			4,707			4,413			4,410				4,778			5,029			5,231			5,462				5,664
Total International Headcount (included above)			1,694			1,938			1,845			1,880				2,037			2,140			2,206			2,288				2,454
% International Headcount			38	%		41	%		42	%		43	%			43	%		43	%		42	%		42	%			43	%

3