Latest news with #Subsplash
Los Angeles Times
29-07-2025
- Business
- Los Angeles Times
K1 to Exit Subsplash in Strategic Sale to Roper Technologies
Transaction Marks K1's Fifth Exit to a Strategic Buyer and Third to a Publicly Listed Company in the Last Year Manhattan Beach-based K1 Investment Management, LLC, one of the largest investors in small-cap enterprise software, has announced that its portfolio company, Subsplash, has entered into a definitive agreement to be acquired by Roper Technologies, Inc., a member of the S&P 500. The transaction is expected to close in the near term and marks K1's third exit to a publicly traded strategic buyer in the past year. Subsplash, co-founded in Seattle by CEO Tim Turner, is a leading AI-powered engagement platform purpose-built for mission-driven organizations. Its integrated suite of AI capabilities, mobile apps, media delivery, digital giving, group messaging and church management tools powers connection and growth for over 20,000 faith-based organizations worldwide. Following K1's initial investment in 2019, Subsplash has significantly expanded its product capabilities, go-to-market strategy and monetization engine – organically growing annual recurring revenue by approximately 7x from the fiscal year prior to investment. Subsplash transforms church engagement by creating an all-in-one AI platform that seamlessly integrates giving, media and community connection. Over the course of the partnership, the company has introduced new features across live streaming, church management and AI-powered content – strengthening their position as a category-leader while accelerating payment attachment rates and increasing platform adoption among existing users. 'This exit underscores K1's focus on backing founder-led companies and scaling them into category leaders,' said George Mansour, partner at K1. 'Subsplash is a prime example of what's possible with the right mix of mission, market and management. In an environment where liquidity has been scarce, this outcome demonstrates the strength of the Subsplash business and ensures that its customers will continue to benefit from long-term investment, innovation and platform continuity under a top-tier company like Roper.' 'K1 was an invaluable partner on this journey. They brought deep domain knowledge and strategic clarity to the table, empowering our team to scale operationally while staying rooted in our mission,' said Tim Turner, CEO of Subsplash. 'We're thrilled to join Roper, whose commitment to long-term platform growth and innovation aligns perfectly with our vision. This next chapter will allow us to serve our customers even better, expanding the ways we help organizations connect with their communities and share life-changing content.' The sale of Subsplash marks K1's fifth exit to a strategic buyer and third to a publicly traded acquirer in the past year, a strong pace given broader market conditions. Notable recent realizations include Irwin (sold to FactSet), GoCanvas (sold to Nemetschek Group) and Axcient (sold to ConnectWise, a Thoma Bravo portfolio company), which contributed to a record year of distributions for K1 in 2024. This transaction also marks K1's third realization in 2025. No investment bankers were involved in the exit to Roper, and the deal was originally sourced directly by K1's in-house business development team – underscoring both K1's differentiated sourcing model and its connectivity to strategic buyers in enterprise software. Information sourced from K1 Investment Management.
Yahoo
22-07-2025
- Business
- Yahoo
Roper Technologies Inc (ROP) Q2 2025 Earnings Call Highlights: Strong Revenue Growth and ...
Total Revenue Growth: 13% increase year-over-year. Organic Revenue Growth: 7% increase. Software Bookings Growth: High teens area. Free Cash Flow Margins: 31% for the TTM period. Revenue: $1.94 billion for Q2. EBITDA: $775 million, with a margin of 39.9%. Diluted EPS: $4.87, exceeding guidance range. Free Cash Flow: $403 million, up 10% year-over-year. Net Debt to EBITDA: 2.9 times, pro forma for Subsplash at 3.1 times. Cash Balance: $242 million. Application Software Segment Revenue Growth: 17% total, 6% organic. Network Segment Revenue Growth: 6% total, 5% organic. TEP Segment Revenue Growth: 10% total, 9% organic. Full Year Revenue Growth Guidance: Increased to 13%. Full Year EPS Guidance: Increased to $19.90 to $20.05. Q3 EPS Guidance: $5.08 to $5.12. Warning! GuruFocus has detected 5 Warning Sign with ROP. Release Date: July 21, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Roper Technologies Inc (NASDAQ:ROP) reported a solid quarter with total revenue growth of 13% and organic revenue growth of 7%. The company announced the acquisition of Subsplash, a cloud-native software provider, which is expected to enhance ROP's vertical market software offerings. Free cash flow margins were impressive at 31% for the trailing twelve months, demonstrating strong cash generation capabilities. Roper Technologies Inc (NASDAQ:ROP) raised its full-year total revenue guidance and debt outlook, reflecting confidence in future performance. The company has over $5 billion in available capital for mergers and acquisitions, positioning it well for future growth opportunities. Negative Points The integration of recent acquisitions, such as ProCare, faced challenges, including leadership changes and underperformance in growth expectations. The market for some segments, like Deltek's government contracting, remains uncertain due to external factors such as government spending dynamics. The company's exposure to macroeconomic factors, although generally less sensitive, still presents potential risks in certain sectors like education and healthcare. The impact of tariffs on ROP's test business, although small, continues to be a concern that requires mitigation efforts. The competitive landscape in some markets, such as Subsplash's faith-based software, requires ongoing investment to maintain and improve growth and margin profiles. Q & A Highlights Q: Can you discuss the resilience and strength across the software segments, particularly in the context of AI and customer productivity? A: L. Neil Hunn, President and CEO, highlighted that the high teens bookings in the second quarter indicate stable market conditions. He noted that Roper's end markets, such as education, legal, and healthcare, are generally less sensitive to macroeconomic factors. The company sees significant opportunities to drive productivity gains for customers using AI tools, with businesses like Aderant already benefiting from AI-based products. Q: How are recent acquisitions, particularly those with a payments orientation, contributing to Roper's strategy? A: L. Neil Hunn explained that while some recent acquisitions like ProCare and Subsplash have a payments element, the focus remains on software-led opportunities. Payments are seen as a natural extension of the software offerings, enhancing customer stickiness and retention. The company does not have a strategic focus on payments but acknowledges the benefits they bring to the software ecosystem. Q: Did you observe any impact from tariff headlines or government spending on your business during the quarter? A: L. Neil Hunn noted that tariffs have a minimal impact on Roper's test business, estimated at $10-15 million. While there is some uncertainty in K-12 education and government contracting, the Big Beautiful Bill is expected to be a catalyst for market growth, particularly in defense spending, which should benefit Deltek. Q: Can you elaborate on the high teens bookings growth and its implications for future revenue growth? A: Jason Conley, CFO, stated that the high teens bookings growth supports Roper's second-half guidance. Aderant had its best bookings quarter, driven by AI solutions and cloud migrations. While healthcare was solid, the overall bookings activity positions the company well for future growth, with a focus on Q4 bookings impacting 2026. Q: How is AI impacting Roper's P&L, and what are the expectations for future revenue contributions? A: L. Neil Hunn mentioned that AI is providing internal productivity gains, with some businesses experiencing up to 30% improvements in R&D. While AI's direct revenue impact is currently small, the company expects it to grow significantly over time. Roper has approximately 25 AI-enabled products in development, and the company is optimistic about AI's compounding effect on growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-07-2025
- Business
- Yahoo
K1 to Exit Subsplash in Strategic Sale to Roper Technologies
Transaction Marks K1's Fifth Exit to a Strategic Buyer and Third to a Publicly Listed Company in the Last Year MANHATTAN BEACH, Calif., July 21, 2025 /PRNewswire/ -- K1 Investment Management, LLC ("K1"), one of the largest investors in small-cap enterprise software, today announced that its portfolio company, Subsplash, has entered into a definitive agreement to be acquired by Roper Technologies, Inc. (NASDAQ: ROP), a member of the S&P 500. The transaction is expected to close in the near term, and marks K1's third exit to a publicly traded strategic buyer in the past year. Subsplash, co-founded in Seattle by CEO Tim Turner, is a leading AI-powered engagement platform purpose-built for mission-driven organizations. Its integrated suite of AI capabilities, mobile apps, media delivery, digital giving, group messaging, and church management tools powers connection and growth for over 20,000 faith-based organizations worldwide. Following K1's initial investment in 2019, Subsplash has significantly expanded its product capabilities, go-to-market strategy, and monetization engine – organically growing annual recurring revenue (ARR) by approximately 7x from the fiscal year prior to investment. Subsplash transforms church engagement by creating an all-in-one AI platform that seamlessly integrates giving, media, and community connection. Over the course of the partnership, the company has introduced new features across live streaming, church management, and AI-powered content — strengthening their position as a category-leader while accelerating payment attachment rates and increasing platform adoption among existing users. "This exit underscores K1's focus on backing founder-led companies and scaling them into category leaders," said George Mansour, Partner at K1. "Subsplash is a prime example of what's possible with the right mix of mission, market, and management. In an environment where liquidity has been scarce, this outcome demonstrates the strength of the Subsplash business – and ensures that its customers will continue to benefit from long-term investment, innovation, and platform continuity under a top-tier company like Roper." "K1 was an invaluable partner on this journey. They brought deep domain knowledge and strategic clarity to the table, empowering our team to scale operationally while staying rooted in our mission," said Tim Turner, CEO of Subsplash. "We're thrilled to join Roper, whose commitment to long-term platform growth and innovation aligns perfectly with our vision. This next chapter will allow us to serve our customers even better, expanding the ways we help organizations connect with their communities and share life-changing content." The sale of Subsplash marks K1's fifth exit to a strategic buyer and third to a publicly traded acquirer in the past year, a strong pace given broader market conditions. Notable recent realizations include Irwin (sold to FactSet), GoCanvas (sold to Nemetschek Group), and Axcient (sold to ConnectWise, a Thoma Bravo portfolio company), which contributed to a record year of distributions for K1 in 2024. This transaction also marks K1's third realization in 2025. No investment bankers were involved in the exit to Roper and the deal was originally sourced directly by K1's in-house business development team – underscoring both K1's differentiated sourcing model and its connectivity to strategic buyers in enterprise software. About Subsplash Subsplash is an industry leader in SaaS, fintech, and AI with an award-winning digital engagement platform used by over 20,000 leading churches and ministries around the world. Subsplash is passionate about helping mission-minded organizations engage their audiences through centralized, easy-to-manage systems. As the creators of the Ultimate Engagement Platform™, they're dedicated to delivering delight to millions of people through custom mobile apps, AI, websites, live streaming, media hosting and delivery, online giving, events, church management, communication tools, and more. Additional information about Subsplash is available on the Company's website at About K1 K1 is one of the largest investors in small-cap enterprise software companies. Dedicated to transforming lives and industries by building category leaders in enterprise software, K1 has invested in over 250 companies since inception. Headquartered in Manhattan Beach, California, the firm partners with strong management teams of high-growth B2B software businesses, utilizing operationally focused growth strategies to scale AI-powered, mission-critical systems of record. K1's exclusive focus, driven by its single team, single office, and single fund strategy, has resulted in realizations for many of its portfolio companies. Examples include Apttus (sold to Thoma Bravo), Axcient (sold to Connectwise, backed by Thoma Bravo), Buildium (sold to RealPage), Certent (sold to insightsoftware, backed by TA Associates and Genstar), Checkmarx (sold to Insight Partners and Hellman & Friedman), Clarizen (sold to Planview, backed by TA Associates and TPG Capital), FMG Suite (sold to Aurora Capital Partners), GoCanvas (sold to Nemetschek Group), Granicus (sold to Vista Equity Partners and Harvest Partners), Inthinc (sold to Orbcomm), Irwin (sold to FactSet), Litera (sold to Hg Capital), Rave Mobile Safety (sold to TCV; now owned by Motorola Solutions), Subsplash (sold to Roper Technologies, NASDAQ: ROP), Unified (now owned by iHeartMedia), WorkForce Software (sold to Insight Partners, now owned by ADP) and Zapproved (sold to Exterro, backed by Leeds Equity). For more information, visit and follow K1 Investment Management on LinkedIn. 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Yahoo
21-07-2025
- Business
- Yahoo
Subsplash, a Premier Provider in Church Technology, Joins Roper Technologies
DALLAS, July 21, 2025 /PRNewswire/ -- Subsplash, a premier SaaS, fintech, and AI provider in the faith and non-profit sector, today announced that it has entered into a definitive agreement to be acquired by Roper Technologies, Inc. (Nasdaq: ROP). With Roper, Subsplash is poised to usher in a new wave of long-term innovation for its customers and the industry at large. Subsplash has grown as an agile technology company focused on delivering best-in-class software. As an innovation company, Subsplash has brought over 30 first-offerings to the faith market and continues to release new products that fuel growth, improve efficiency, and deepen community engagement. Subsplash has a strong history of strategic partnerships with mission-driven investors. In 2019, K1 invested into Subsplash, a partnership that significantly accelerated its growth and advanced its core vision: to equip every church. This investment further reinforces Subsplash's commitment to empowering ministries everywhere. "Subsplash's vision has been to equip every church with best-in-class technology," states Tim Turner, CEO and founder of Subsplash. "I'm incredibly excited about what this partnership means for the future of innovation for the Church. By joining forces with Roper, we're not only strengthening our ability to serve our existing clients with even greater innovation, but we're also unlocking the opportunity to equip every church. We extend our sincere gratitude to K1 for their invaluable support, expertise, and partnership through what has been an incredibly impactful season together. As we look ahead, we're just getting started and we remain focused on the same mission we've embraced for the last 20 years." "Subsplash stands out as a market leader, recognized for its mission-critical solutions, robust performance, and exceptional customer retention," said Neil Hunn, Roper Technologies' President and CEO. "This acquisition marks a lasting partnership, uniting our efforts to further expand Subsplash's world-class platform and offerings. We have been deeply impressed by the leadership team at Subsplash, especially our shared commitment to humility as a core value. We are excited to welcome the Subsplash team to the Roper family and look forward to partnering with the team to execute their long-term growth strategy." About Roper Technologies Roper Technologies is a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical, and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company's website at About Subsplash Subsplash is an industry leader in SaaS, fintech, and AI with an award-winning digital engagement platform used by over 20,000 leading churches and ministries around the world. Subsplash is passionate about helping mission-minded organizations engage their audiences through centralized, easy-to-manage systems. As the creators of the Ultimate Engagement Platform™, they're dedicated to delivering delight to millions of people through custom mobile apps, AI, websites, live streaming, media hosting and delivery, online giving, events, church management, communication tools, and more. Additional information about Subsplash is available on the Company's website at View original content to download multimedia: SOURCE Subsplash Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-07-2025
- Business
- Yahoo
Roper Technologies raises annual forecasts on strong software demand
(Reuters) -Roper Technologies raised its forecasts for annual revenue and adjusted profit on Monday, betting on resilient enterprise spending on its vast portfolio of software products amid macroeconomic uncertainty. With businesses grappling with a shifting trade landscape following President Donald Trump's tariffs, spending on Roper's products has stayed strong as the company provides critical software infrastructure across a diverse range of industries. Roper, which caters to sectors including education, healthcare, insurance and construction, among others, has also been aggressively pursuing acquisitions to grow its product portfolio inorganically amid a volatile long-term outlook. The company said it had signed a deal last week to acquire AI-based software firm Subsplash, which serves faith-based organizations, for $800 million. "With significant M&A capacity and our proven acquisition model, we remain well-positioned to execute our disciplined capital deployment strategy against a large pipeline of attractive opportunities," Roper CEO Neil Hunn said. The company expects its 2025 revenue growth to be around 13%, up from its previous expectation of around 12%. Roper also lifted its annual adjusted profit forecast to a range of $19.90 to $20.05 per share, compared with its prior view of $19.80 to $20.05. The company reported revenue of $1.94 billion for the second quarter, beating analysts' average estimate of $1.93 billion, according to data compiled by LSEG. Its quarterly net income came in at $3.49 per share, compared with profit of $3.12 per share a year ago.
