LAW vs ROP

LAW Core

Annual filing released 2025-02-20 · GPT 6 Luna

Item 1. Business Overview DISCO provides cloud-native, artificial intelligence-powered legal product offerings that simplify legal hold, legal request, ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. Our scalable, integrated product offerings enable legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters. We leverage a cloud-native architecture and powerful artificial intelligence, or AI, models to automatically identify legally relevant documents and improve the accuracy and speed of legal document review.

ta that is at issue in legal matters. •DISCO Review is an AI-powered document review that consistently delivers legal document reviews that are high quality, on time and on budget. •DISCO Case Builder allows legal professionals to collaborate across teams to effectively build a compelling case by offering a single place to search, organize and review witness testimony and other important legal data. Key Benefits of Our Product Offerings Our end-to-end platform was designed to improve the everyday experience of lawyers and legal professionals and improve legal outcomes for legal departments. We deliver the following key benefits: •Comprehensive and Turnkey.

ROP Core

Annual filing released 2025-02-24 · GPT 6 Luna

Financial information about our reportable segments is presented in Note 14 of the Notes to Consolidated Financial Statements included in this Annual Report. Application Software Our Application Software segment had net revenues of $3,868.3 for the year ended December 31, 2024, representing 55.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Application Software segment: Aderant – comprehensive management software solutions for law and other professional services firms, including business development, calendar/docket matter management, time and billing, and case management. Clinisys – diagnostic and laboratory information management software solutions. Data Innovations – software solutions that enable enterprise management of hospitals and independent laboratories.

Deltek – enterprise software and information solutions for government contractors, professional services firms, and other project-based businesses. Frontline – K-12 school administration software, connecting solutions for human capital management, student and special programs, and business operations, with powerful analytics that empower educators. IntelliTrans – transportation management software and services to bulk and break-bulk commodity producers. PowerPlan – financial and compliance management software and solutions to large complex companies in asset-intensive industries. Procare – cloud-based software and integrated payment processing for the management of early childhood education centers.

LAW Core

Annual filing released 2025-02-20 · GPT 6 Luna

Item 1. Business Overview DISCO provides cloud-native, artificial intelligence-powered legal product offerings that simplify legal hold, legal request, ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. Our scalable, integrated product offerings enable legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters. We leverage a cloud-native architecture and powerful artificial intelligence, or AI, models to automatically identify legally relevant documents and improve the accuracy and speed of legal document review.

The Company identifies performance obligations in its contracts with customers, which primarily include usage-based and subscription contracts. Usage-based contracts include fees based on usage of the Company’s platform or professional services, incurred on a time and materials basis, while subscription contracts represent the purchase of a committed data volume on the Company’s platform over a period of time. The transaction price is determined based on the amount which the Company expects to be entitled to in exchange for providing the promised services to the customer. For contracts that include multiple performance obligations, the transaction price in the contract is allocated to each distinct performance obligation on a relative standalone selling price basis. Revenue is recognized over time as performance obligations are satisfied.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Deltek – enterprise software and information solutions for government contractors, professional services firms, and other project-based businesses. Frontline – K-12 school administration software, connecting solutions for human capital management, student and special programs, and business operations, with powerful analytics that empower educators. IntelliTrans – transportation management software and services to bulk and break-bulk commodity producers. PowerPlan – financial and compliance management software and solutions to large complex companies in asset-intensive industries. Procare – cloud-based software and integrated payment processing for the management of early childhood education centers.

Strata – cloud-based financial analytics, performance management software, and data solutions used by healthcare providers, higher education, and financial institutions for financial planning, decision support, and continuous cost improvement. Transact/CBORD – integrated campus technology and payment solutions, including secure access and campus identity software, commerce solutions, tuition management software and payment processing, as well as foodservice technologies, serving higher education, healthcare, K-12, and business campuses. Vertafore – cloud-based software for the property and casualty insurance industry, including agency and distribution management, compliance, workflow, and data solutions. 5 Network Software

LAW Core

Annual filing released 2025-02-20 · GPT 6 Luna

Item 1. Business Overview DISCO provides cloud-native, artificial intelligence-powered legal product offerings that simplify legal hold, legal request, ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. Our scalable, integrated product offerings enable legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters. We leverage a cloud-native architecture and powerful artificial intelligence, or AI, models to automatically identify legally relevant documents and improve the accuracy and speed of legal document review.

Key Components of Statement of Operations Revenue All of our revenue-generating activities directly relate to the sale and support of our legal product offerings within a single operating segment. We have two primary types of contractual arrangements: usage-based and subscription. Our usage-based revenue is derived from contracts under which customers are typically billed monthly based on their usage of our offerings. Subscription revenue is derived from contracts where customers are contractually committed to a minimum data volume over a period of time. Revenue received from usage amounts above the fixed data volume in our subscription contracts is considered usage-based revenue. In each of the years ended December 31, 2024 and 2023, usage-based revenue represented 89% of total revenue and subscription revenue fees represented 11% of total revenue. 50 Table of Contents

ROP Core

Annual filing released 2025-02-24 · GPT 6 Luna

Financial information about our reportable segments is presented in Note 14 of the Notes to Consolidated Financial Statements included in this Annual Report. Application Software Our Application Software segment had net revenues of $3,868.3 for the year ended December 31, 2024, representing 55.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Application Software segment: Aderant – comprehensive management software solutions for law and other professional services firms, including business development, calendar/docket matter management, time and billing, and case management. Clinisys – diagnostic and laboratory information management software solutions. Data Innovations – software solutions that enable enterprise management of hospitals and independent laboratories.

Our Network Software segment had net revenues of $1,475.6 for the year ended December 31, 2024, representing 21.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Network Software segment: ConstructConnect – cloud-based data, collaboration, and estimating automation software solutions focused on the pre-construction phase for a network of construction contractors and building product manufacturers/distributors. DAT – electronic marketplaces that connect available capacity of trucking units with the available loads of freight throughout North America, and freight analytics solutions. Foundry – software technologies used to deliver visual effects and 3D content for the entertainment and digital design industries. iPipeline – cloud-based software solutions for the life insurance/annuities and financial services industries.

LAW Core

Annual filing released 2025-02-20 · GPT 6 Luna

Item 1. Business Overview DISCO provides cloud-native, artificial intelligence-powered legal product offerings that simplify legal hold, legal request, ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. Our scalable, integrated product offerings enable legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters. We leverage a cloud-native architecture and powerful artificial intelligence, or AI, models to automatically identify legally relevant documents and improve the accuracy and speed of legal document review.

By automating the manual, time-consuming and error-prone parts of legal hold, legal request, ediscovery, legal document review and case management, we empower lawyers to focus on delivering better legal outcomes. Since our incorporation in 2013, DISCO has assembled a team that combines strength in software engineering, cloud computing and AI, with deep legal expertise and a rich understanding of the problems that lawyers and legal professionals face and how they work. This combination of expertise means that our team is distinctly well-positioned to execute on our vision of building technology that powers the legal function across companies in every industry. Our focus on delivering product offerings that legal professionals value is coupled with a simple and transparent usage-based business model.

ROP Core

Annual filing released 2025-02-24 · GPT 6 Luna

You should not place undue reliance on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update any of these statements in light of new information or future events. 3 PART I ITEM 1. BUSINESS All currency amounts are in millions unless specified Our Business Roper Technologies, Inc. (“Roper,” the “Company,” “we,” “our,” or “us”) is a diversified technology company. Roper has a proven, long-term, successful track record of compounding cash flow and increasing shareholder value. We operate market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets.

Financial information about our reportable segments is presented in Note 14 of the Notes to Consolidated Financial Statements included in this Annual Report. Application Software Our Application Software segment had net revenues of $3,868.3 for the year ended December 31, 2024, representing 55.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Application Software segment: Aderant – comprehensive management software solutions for law and other professional services firms, including business development, calendar/docket matter management, time and billing, and case management. Clinisys – diagnostic and laboratory information management software solutions. Data Innovations – software solutions that enable enterprise management of hospitals and independent laboratories.

LAW Material

Annual filing released 2025-02-20 · GPT 6 Luna

Item 1. Business Overview DISCO provides cloud-native, artificial intelligence-powered legal product offerings that simplify legal hold, legal request, ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. Our scalable, integrated product offerings enable legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters. We leverage a cloud-native architecture and powerful artificial intelligence, or AI, models to automatically identify legally relevant documents and improve the accuracy and speed of legal document review.

For example, our Cecilia AI platform, which was released publicly in the fourth quarter of 2023 in the United States and in the third quarter of 2024 in Europe, is a comprehensive suite of features that includes Cecilia Q&A and Cecilia Timelines. Cecilia Q&A is a chatbot that allows lawyers to learn about facts and information in their private DISCO Ediscovery database more efficiently. Cecilia Timelines allows attorneys to automatically create smart timelines at the start of a matter and produce comprehensive reviews with facts succinctly summarized. Our cloud-native, AI-powered software is augmented with deep expertise, consultative professional services and flexible customer support that enables us to be a single-source provider and meet the diverse needs of customers in every industry.

ROP Not tagged

Annual filing released 2025-02-24 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Strata – cloud-based financial analytics, performance management software, and data solutions used by healthcare providers, higher education, and financial institutions for financial planning, decision support, and continuous cost improvement. Transact/CBORD – integrated campus technology and payment solutions, including secure access and campus identity software, commerce solutions, tuition management software and payment processing, as well as foodservice technologies, serving higher education, healthcare, K-12, and business campuses. Vertafore – cloud-based software for the property and casualty insurance industry, including agency and distribution management, compliance, workflow, and data solutions. 5 Network Software

iTradeNetwork – electronic marketplaces and supply chain software that connect food suppliers, distributors, and vendors, primarily in the perishable food sector. Loadlink – electronic marketplaces that connect available capacity of trucking units with the available loads of freight throughout Canada, and freight analytics solutions. MHA – health care services and software solutions to alternate site health care markets. SHP – data analytics and benchmarking information for the post-acute healthcare provider marketplace. SoftWriters – software solutions to pharmacies that primarily serve the long-term care marketplace. Technology Enabled Products

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Our Network Software segment had net revenues of $1,475.6 for the year ended December 31, 2024, representing 21.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Network Software segment: ConstructConnect – cloud-based data, collaboration, and estimating automation software solutions focused on the pre-construction phase for a network of construction contractors and building product manufacturers/distributors. DAT – electronic marketplaces that connect available capacity of trucking units with the available loads of freight throughout North America, and freight analytics solutions. Foundry – software technologies used to deliver visual effects and 3D content for the entertainment and digital design industries. iPipeline – cloud-based software solutions for the life insurance/annuities and financial services industries.

iTradeNetwork – electronic marketplaces and supply chain software that connect food suppliers, distributors, and vendors, primarily in the perishable food sector. Loadlink – electronic marketplaces that connect available capacity of trucking units with the available loads of freight throughout Canada, and freight analytics solutions. MHA – health care services and software solutions to alternate site health care markets. SHP – data analytics and benchmarking information for the post-acute healthcare provider marketplace. SoftWriters – software solutions to pharmacies that primarily serve the long-term care marketplace. Technology Enabled Products

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Deltek – enterprise software and information solutions for government contractors, professional services firms, and other project-based businesses. Frontline – K-12 school administration software, connecting solutions for human capital management, student and special programs, and business operations, with powerful analytics that empower educators. IntelliTrans – transportation management software and services to bulk and break-bulk commodity producers. PowerPlan – financial and compliance management software and solutions to large complex companies in asset-intensive industries. Procare – cloud-based software and integrated payment processing for the management of early childhood education centers.

Strata – cloud-based financial analytics, performance management software, and data solutions used by healthcare providers, higher education, and financial institutions for financial planning, decision support, and continuous cost improvement. Transact/CBORD – integrated campus technology and payment solutions, including secure access and campus identity software, commerce solutions, tuition management software and payment processing, as well as foodservice technologies, serving higher education, healthcare, K-12, and business campuses. Vertafore – cloud-based software for the property and casualty insurance industry, including agency and distribution management, compliance, workflow, and data solutions. 5 Network Software

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Deltek – enterprise software and information solutions for government contractors, professional services firms, and other project-based businesses. Frontline – K-12 school administration software, connecting solutions for human capital management, student and special programs, and business operations, with powerful analytics that empower educators. IntelliTrans – transportation management software and services to bulk and break-bulk commodity producers. PowerPlan – financial and compliance management software and solutions to large complex companies in asset-intensive industries. Procare – cloud-based software and integrated payment processing for the management of early childhood education centers.

Strata – cloud-based financial analytics, performance management software, and data solutions used by healthcare providers, higher education, and financial institutions for financial planning, decision support, and continuous cost improvement. Transact/CBORD – integrated campus technology and payment solutions, including secure access and campus identity software, commerce solutions, tuition management software and payment processing, as well as foodservice technologies, serving higher education, healthcare, K-12, and business campuses. Vertafore – cloud-based software for the property and casualty insurance industry, including agency and distribution management, compliance, workflow, and data solutions. 5 Network Software

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Deltek – enterprise software and information solutions for government contractors, professional services firms, and other project-based businesses. Frontline – K-12 school administration software, connecting solutions for human capital management, student and special programs, and business operations, with powerful analytics that empower educators. IntelliTrans – transportation management software and services to bulk and break-bulk commodity producers. PowerPlan – financial and compliance management software and solutions to large complex companies in asset-intensive industries. Procare – cloud-based software and integrated payment processing for the management of early childhood education centers.

Strata – cloud-based financial analytics, performance management software, and data solutions used by healthcare providers, higher education, and financial institutions for financial planning, decision support, and continuous cost improvement. Transact/CBORD – integrated campus technology and payment solutions, including secure access and campus identity software, commerce solutions, tuition management software and payment processing, as well as foodservice technologies, serving higher education, healthcare, K-12, and business campuses. Vertafore – cloud-based software for the property and casualty insurance industry, including agency and distribution management, compliance, workflow, and data solutions. 5 Network Software

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Our Technology Enabled Products segment had net revenues of $1,695.3 for the year ended December 31, 2024, representing 24.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Technology Enabled Products segment: CIVCO Medical Solutions – accessories focused on guidance and infection control for ultrasound procedures. FMI – dispensers and metering pumps which are utilized in a broad range of applications requiring precision fluid control. Inovonics – high-performance wireless sensor networks and solutions for a variety of applications. IPA – automated surgical scrub and linen dispensing equipment for healthcare providers.

Neptune – water meters, enabling water utilities to remotely monitor their customers utilizing Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI) technologies, and cloud-based software supporting meter data management. Northern Digital – optical and electromagnetic precision measurement systems for medical and industrial applications. rf IDEAS – RFID card and credential readers used in numerous identity access management applications across a variety of vertical markets. Verathon – medical devices that enable airway management, including bronchoscopes and video laryngoscopes, and bladder volume measurement solutions for healthcare providers. 6 Materials and Suppliers

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Our Technology Enabled Products segment had net revenues of $1,695.3 for the year ended December 31, 2024, representing 24.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Technology Enabled Products segment: CIVCO Medical Solutions – accessories focused on guidance and infection control for ultrasound procedures. FMI – dispensers and metering pumps which are utilized in a broad range of applications requiring precision fluid control. Inovonics – high-performance wireless sensor networks and solutions for a variety of applications. IPA – automated surgical scrub and linen dispensing equipment for healthcare providers.

Neptune – water meters, enabling water utilities to remotely monitor their customers utilizing Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI) technologies, and cloud-based software supporting meter data management. Northern Digital – optical and electromagnetic precision measurement systems for medical and industrial applications. rf IDEAS – RFID card and credential readers used in numerous identity access management applications across a variety of vertical markets. Verathon – medical devices that enable airway management, including bronchoscopes and video laryngoscopes, and bladder volume measurement solutions for healthcare providers. 6 Materials and Suppliers

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Neptune – water meters, enabling water utilities to remotely monitor their customers utilizing Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI) technologies, and cloud-based software supporting meter data management. Northern Digital – optical and electromagnetic precision measurement systems for medical and industrial applications. rf IDEAS – RFID card and credential readers used in numerous identity access management applications across a variety of vertical markets. Verathon – medical devices that enable airway management, including bronchoscopes and video laryngoscopes, and bladder volume measurement solutions for healthcare providers. 6 Materials and Suppliers

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Our Network Software segment had net revenues of $1,475.6 for the year ended December 31, 2024, representing 21.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Network Software segment: ConstructConnect – cloud-based data, collaboration, and estimating automation software solutions focused on the pre-construction phase for a network of construction contractors and building product manufacturers/distributors. DAT – electronic marketplaces that connect available capacity of trucking units with the available loads of freight throughout North America, and freight analytics solutions. Foundry – software technologies used to deliver visual effects and 3D content for the entertainment and digital design industries. iPipeline – cloud-based software solutions for the life insurance/annuities and financial services industries.

iTradeNetwork – electronic marketplaces and supply chain software that connect food suppliers, distributors, and vendors, primarily in the perishable food sector. Loadlink – electronic marketplaces that connect available capacity of trucking units with the available loads of freight throughout Canada, and freight analytics solutions. MHA – health care services and software solutions to alternate site health care markets. SHP – data analytics and benchmarking information for the post-acute healthcare provider marketplace. SoftWriters – software solutions to pharmacies that primarily serve the long-term care marketplace. Technology Enabled Products

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Our Technology Enabled Products segment had net revenues of $1,695.3 for the year ended December 31, 2024, representing 24.0% of our total net revenues. Below is a description of the products offered by businesses that comprise the Technology Enabled Products segment: CIVCO Medical Solutions – accessories focused on guidance and infection control for ultrasound procedures. FMI – dispensers and metering pumps which are utilized in a broad range of applications requiring precision fluid control. Inovonics – high-performance wireless sensor networks and solutions for a variety of applications. IPA – automated surgical scrub and linen dispensing equipment for healthcare providers.

Neptune – water meters, enabling water utilities to remotely monitor their customers utilizing Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI) technologies, and cloud-based software supporting meter data management. Northern Digital – optical and electromagnetic precision measurement systems for medical and industrial applications. rf IDEAS – RFID card and credential readers used in numerous identity access management applications across a variety of vertical markets. Verathon – medical devices that enable airway management, including bronchoscopes and video laryngoscopes, and bladder volume measurement solutions for healthcare providers. 6 Materials and Suppliers

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Neptune – water meters, enabling water utilities to remotely monitor their customers utilizing Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI) technologies, and cloud-based software supporting meter data management. Northern Digital – optical and electromagnetic precision measurement systems for medical and industrial applications. rf IDEAS – RFID card and credential readers used in numerous identity access management applications across a variety of vertical markets. Verathon – medical devices that enable airway management, including bronchoscopes and video laryngoscopes, and bladder volume measurement solutions for healthcare providers. 6 Materials and Suppliers

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Deltek – enterprise software and information solutions for government contractors, professional services firms, and other project-based businesses. Frontline – K-12 school administration software, connecting solutions for human capital management, student and special programs, and business operations, with powerful analytics that empower educators. IntelliTrans – transportation management software and services to bulk and break-bulk commodity producers. PowerPlan – financial and compliance management software and solutions to large complex companies in asset-intensive industries. Procare – cloud-based software and integrated payment processing for the management of early childhood education centers.

Strata – cloud-based financial analytics, performance management software, and data solutions used by healthcare providers, higher education, and financial institutions for financial planning, decision support, and continuous cost improvement. Transact/CBORD – integrated campus technology and payment solutions, including secure access and campus identity software, commerce solutions, tuition management software and payment processing, as well as foodservice technologies, serving higher education, healthcare, K-12, and business campuses. Vertafore – cloud-based software for the property and casualty insurance industry, including agency and distribution management, compliance, workflow, and data solutions. 5 Network Software

LAW Not tagged

Annual filing released 2025-02-20 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

ROP Material

Annual filing released 2025-02-24 · GPT 6 Luna

Neptune – water meters, enabling water utilities to remotely monitor their customers utilizing Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI) technologies, and cloud-based software supporting meter data management. Northern Digital – optical and electromagnetic precision measurement systems for medical and industrial applications. rf IDEAS – RFID card and credential readers used in numerous identity access management applications across a variety of vertical markets. Verathon – medical devices that enable airway management, including bronchoscopes and video laryngoscopes, and bladder volume measurement solutions for healthcare providers. 6 Materials and Suppliers

In our Technology Enabled Products segment, net revenues were $1,695.3 for the year ended December 31, 2024 as compared to $1,551.5 for the year ended December 31, 2023. The growth of 9.3% in organic revenues was led by our medical products businesses, excluding our precision measurement business, and growth in our water meter technology business. These increases were partially offset primarily by a decline in our access management businesses. Gross margin increased to 57.6% for the year ended December 31, 2024 as compared to 57.1% for the year ended December 31, 2023, due primarily to improved leverage on higher organic revenues and revenue mix. SG&A expenses as a percentage of net revenues remained consistent at 23.7% in both the years ending December 31, 2024 and 2023.