Neil Hunn
President and Chief Executive Officer at Roper Technologies
Thanks, Jason. Let's turn to page nine and walk through our Q1 highlights for Application Software segment. Revenues here were $761 million, up 6% on an organic basis, and EBITDA margins were 43.2%. Performance in this segment was strong across the board. To highlight a few of our business' performance, we'll start with Deltek. Deltek was solid. As we mentioned last quarter, Deltek did see some slower customer decision-making, but that was largely rectified this quarter. Deltek had double-digit bookings in the quarter with strength across both enterprise class and SMB-sized customers as well as government contracting and private sector solutions. As usual, both gross and net retention at Deltek remain strong and consistent with recent history. Aderant, our software business focused on the needs of law firms, continues to compete and win and take share from our competitors.
In the quarter, Aderant experienced record bookings and continued success in the adoption of their SaaS solutions. Great job by Chris, Rafi and the entire Aderant team. Vertafore, our software business at tech-enabled property and casualty insurance agencies, posted another solid quarter and continues to perform quite well for us. Of particular note, Vertafore recent acquisition of MGA Systems, a software solution targeted to manage general agents, or MGAs, is proving to be highly strategic and bookings activity is tracking ahead of plan. Frontline continues to perform quite well for us in the first couple of quarters of ownership. Frontline's mission is to empower the front line of education. As many of you know, hiring of teachers and administrative staff is particularly challenging, and Frontline software solutions better equip K-12 school districts to navigate these challenges.
Because of this, frontline solutions are mission-critical and of high importance to their school district customers. For the segment, EBITDA margins were down 90 basis points year-over-year, in line with our expectations. Our Acute Care software businesses, especially CliniSys, Data Innovations and Strata are ramping up their implementation capacity based on recent bookings momentum. We expect to see similar margins in Q2. Looking to the balance of the year, we expect to see organic growth in the mid-single-digit area for this segment based on our leading market positions and growth in recurring revenue. Turning to Page 10. Revenues in the quarter for a Network Software segment were $355 million, up 6% on an organic basis, and EBITDA margins were strong at 53.1%. As with our Application Software segment, growth and performance was broad-based across this segment.
Relative to business-specific comments, we'll start with our U.S. and Canadian freight matching businesses, DAT and Loadlink, which both grew nicely in the quarter. While freight market conditions are softer than this time last year, our businesses in this space are critical to the operation and execution of the spot freight market. In addition and importantly, the spot market is a long-term secular beneficiary in terms of the volume of future freight shipments. Throughout and across the freight and economic cycle, DAT and Loadlink continue to innovate and launch new products and offerings to help drive enhanced customer value and share of wallet. with the current product strategy focused on tech enabling the connectivity between brokers and carriers. iPipeline, our network software business that tech enables the distribution channel for life insurance and annuities, is coming off a terrific 2022 and continued its high level of execution this quarter with very strong bookings, retention and customer expansions.
Foundry continued its string of strong performance in the quarter and had terrific seat growth for their flagship product Nuke, which enabled continued double-digit recurring revenue growth. As we mentioned last quarter, Foundry commenced their subscription pricing transition for Nuke and in Q1 had north of 50% of the Nuke seats sold under their new model ahead of their plan. Finally, our alternate site health care businesses, MHA, SoftWriters and SHP were strong in the quarter. Execution was solid, and the business has benefited by an improving census in skilled nursing, assisted living facilities and home health reaching the highest occupancy levels and patient volumes since the onset of the pandemic. Turning to the balance of the year. We expect to see mid-single-digit organic growth for this segment based on broad and sustained growth across this group.
As we turn to Page 11. Revenues in the quarter for our Tech-enabled Products segment were $354 million, up 14% on an organic basis. EBITDA margins for the segment were 34.7% in the quarter. Across the segment, business performance and execution was solid. Importantly, the broad-based supply chain issues continue to wane. Though we're not entirely out of the woods, we can now see a path to a more normalized supply chain environment. Neptune, our water meter and technology product business, continues to be just great. In the quarter, they had record revenue performance and set records for backlog levels. Importantly, Neptune continues to see increasing demand and momentum for their residential and commercial ultrasonic or static meters. We remain bullish on Neptune and the market in which they compete as this market tends to be quite steady as Neptune's customers' budgets are typically fixed year-to-year and not tied to broader macroeconomic trends or cycles.
Great job at Neptune, and congrats. Verathon was strong in the quarter as well with double-digit order growth. Specifically, Verathon saw strength across the reoccurring single-use products, both bronchoscope or BFlex and video innovation or GlideScope as well as BladderScan capital purchases. Importantly, Verathon has four product launches scheduled for the next few months which will help continue their market share gains and momentum. Northern Digital NDI was also strong in the quarter and continued to see terrific demand for their optical and EM solutions. NDI's enabling measurement technology is used by scores and medical product OEMs and solutions such as robotic-assisted surgery and across multiple cardiac-specific modalities. NDI's high level of market focus and operational discipline will enable them to continue to be the market share leader for these measurement technologies long into the future.
Our outlook for the balance of the year for this segment has improved to be in the low double-digit area and is based on continued strong orders and improving manufacturing productivity at Neptune as well as an improved growth outlook across our medical product businesses. Now please turn to Page 13. And let's review our increased 2023 guidance. For 2023, we expect total revenue growth to be north of 12%. In addition, we're updating our organic revenue growth outlook to be in the 6% to 7% range, an increase from our original guidance of 5% to 6%. As a result, we're increasing our DEPS guidance to be in the range of $16.10 and $16.30 up from our prior guidance of $15.90 to $16.20, assuming that this guidance is a tax rate in the 21% to 22% area. Specific to the second quarter, we're establishing our DEPS guidance is to be in the $3.96 to $4 range. Now please turn with us to Page 14, and then Jason and I will look forward to answering your questions.
As we turn to Page 14, we want to leave you with the same three points with which we started. First, 2023 is off to a great start. We saw revenues increase 15% to $1.47 billion in the quarter. This growth was underpinned with 8% organic revenue growth and 8% recurring revenue growth. In addition, margins were quite strong. This quarter's financial and operational performance is yet another proof point of our capabilities, and frankly, the expectations of our improved higher-quality portfolio of businesses. Most importantly, our revenue growth translated to impressive cash flow growth with our underlying free cash flow growing 14%. As you know, we view cash flow growth as the best measure of performance. Second, based on the strong start to the year, the higher recurring nature of our revenue stream and the importance of our solutions to our customers, we are increasing our full year organic revenue growth outlook to be between 6% and 7% and increasing our full year DEPS to be between $16.10 an $16.30.
Finally, we continue to be active with our capital deployment activities as we have north of $4 billion of available M&A firepower. As we discussed during our Investor Day last month, we have a very large universe and pipeline of opportunities, though, as always, we remain super patient and highly disciplined to ensure optimal deployment of our available capital. Now as we turn to your questions and if you could flip to the final slide, our strategic flywheel, we want to thank those of you who joined us in New York or online last month for our first ever Investor Day. During that long-form overview of Roper, we are excited to share with you our long-term strategy, the high-quality nature of our portfolio of businesses, our operating ability to improve our businesses, our process-driven capital deployment approach and our compelling long-term business model that compounds cash flow in the mid-teens area. So thank you for your continued interest in Roper.
And with that, let's open it up to your questions.
