Tyler Technologies Inc

TYL

Equity

ISIN US9022521051 / Valor 804377

New York Stock Exchange, Inc (2024-11-20)

USD 601.14+0.24%

Tyler Technologies Inc
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About company

Tyler Technologies Inc. specializes in providing a broad range of software solutions and services tailored for the public sector, focusing on the intricacies of government operations. The company has established itself as a pioneer in the field by developing the first computer-assisted mass appraisal (CAMA) system, and it has since expanded its offerings to include integrated software solutions for tax billing and collections, CAMA, and assessment administration. Tyler Technologies aims to streamline and enhance the efficiency of various critical government functions, including budget monitoring, payroll generation for municipal employees, revenue collection, and utility billing. Their product suite encompasses Enterprise Resource Planning (ERP) financial solutions designed to support the core business functions of public sector entities of all sizes, from small towns to large cities and counties. Additionally, Tyler Technologies offers Payment Processing and Point-of-Sale Cashiering solutions, providing secure, flexible, and scalable options for managing payments, thereby simplifying the transactional aspects of government operations.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Tyler Technologies Inc. reported total revenues of $480.9 million for the fourth quarter of 2023, marking a 6.3% increase compared to the same period in 2022. On an organic basis, revenues grew by 6.1%, reflecting the company's steady growth trajectory.

Recurring Revenues

For the fourth quarter of 2023, Tyler Technologies Inc. achieved recurring revenues of $403.6 million, up 7.9% from the previous year. Recurring revenues comprised 83.9% of the total revenues for the quarter, up from 82.7% in the fourth quarter of 2022.

Earnings and EBITDA

Tyler Technologies Inc. reported a GAAP operating income of $47.7 million for Q4 2023, a 17.3% increase year-over-year. Non-GAAP operating income was $107.4 million, up 9.7%, while GAAP net income was $38.9 million, or $0.91 per diluted share, up 25.2% from the previous year.

Cash Flow

In the fourth quarter of 2023, Tyler Technologies Inc. generated $147.4 million in cash flows from operations, a 21.0% increase compared to the same period in 2022. Free cash flow for the quarter was $134.4 million, up 17.1% year-over-year.

Acquisitions

During Q4 2023, Tyler Technologies Inc. completed the acquisitions of ResourceX and ARInspect for a combined purchase price of approximately $37 million in cash and stock. These acquisitions are expected to enhance the company's product offerings and market reach.

Summarized from source with an LLMView Source

Key figures

45.9%1Y

9.72%3Y

109%5Y

Performance

22.1%1Y

32.0%3Y

31.6%5Y

Volatility