Revenue during the quarter grew 19.11 percent to $152.92 million from $128.38 million in the previous year period. Gross margin for the quarter expanded 142 basis points over the previous year period to 58.77 percent. Total expenses were 93.40 percent of quarterly revenues, down from 95.47 percent for the same period last year. This has led to an improvement of 207 basis points in operating margin to 6.60 percent.

Operating income for the quarter was $10.09 million, compared with $5.82 million in the previous year period.

However, the adjusted operating income for the quarter stood at $30.39 million compared to $21.94 million in the prior year period. At the same time, adjusted operating margin improved 278 basis points in the quarter to 19.88 percent from 17.09 percent in the last year period.

“First quarter non-GAAP total revenue growth of 20% reflects strong client adoption of our differentiated platform," said Steve Winn, chairman and chief executive officer of RealPage. "Importantly, our Asset Optimization product family revenue growth continues to accelerate and our recent acquisition of Axiometrics performed above our expectations. These results provide us with confidence that our strategy is appropriately focused, delivering actionable intelligence to our clients from our data in order to improve operational returns as well as helping underwrite the placement and harvesting of capital.”

For the second-quarter, Realpage forecasts revenue to be in the range of $158.10 million to $160.10 million. Realpage forecasts revenue to be in the range of $640.20 million to $649.20 million for fiscal year 2017. For the second-quarter, Realpage forecasts adjusted revenue to be in the range of $159 million to $161 million. Realpage forecasts adjusted revenue to be in the range of $643 million to $652 million for fiscal year 2017. Realpage projects net income to be in the range of $4.55 million to $5.63 million for the second-quarter. For financial year 2017, Realpage projects net income to be in the range of $25.28 million to $28.82 million. Realpage expects adjusted net income to be in the range of $17.84 million to $18.50 million for the second-quarter. For the financial year 2017, Realpage expects adjusted net income to be in the range of $72.90 million to $75.48 million. The company expects diluted earnings per share to be in the range of $0.06 to $0.07 for the second-quarter. For fiscal year 2017, the company expects diluted earnings per share to be in the range of $0.31 to $0.35. On an adjusted basis, the company expects diluted earnings per share to be in the range of $0.22 to $0.23 for the second-quarter. For fiscal year 2017, the company expects diluted earnings per share to be in the range of $0.88 to $0.92 on adjusted basis.

The company has spent $76.03 million cash to meet investing activities during the quarter as against cash outgo of $69.37 million in the last year period.

The company has spent $3.50 million cash to carry out financing activities during the quarter as against cash inflow of $66.89 million in the last year period.

Cash and cash equivalents stood at $59.52 million as on Mar. 31, 2017, up 3.51 percent or $2.02 million from $57.50 million on Mar. 31, 2016.

Working capital turns negative
Working capital of RealPage, Inc has turned negative to $7.23 million on Mar. 31, 2017 from positive $16.80 million on Mar. 31, 2016. Current ratio was at 0.97 as on Mar. 31, 2017, down from 1.07 on Mar. 31, 2016.

Days sales outstanding went down to 48 days for the quarter compared with 53 days for the same period last year.

At the same time, days payable outstanding went down to 33 days for the quarter from 37 for the same period last year.