Tyler Technologies Inc.
Tyler Technologies Reports Strong Fourth Quarter 2023 Financial Results
Summary
Tyler Technologies, Inc. reported a strong finish to the fourth quarter of 2023 with total revenues of $480.9 million, up 6.3% year-over-year. Recurring revenues were $403.6 million, up 7.9%. The company saw significant growth in SaaS revenues, which increased by 21.7% to $141.0 million. Non-GAAP net income was $81.4 million, or $1.89 per diluted share, up 15.6% from the prior year. The company also announced the completion of four strategic acquisitions during the quarter, furthering its growth strategy.
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About Tyler Technologies Inc.
Tyler Technologies Inc. delivers integrated software solutions and services for public sector organizations across the United States, aiming to empower government entities to become more efficient and transparent. The company's comprehensive product suite covers a wide range of administrative functions, including enterprise resource planning, public safety, justice, tax, appraisal evaluations, and citizen services. By providing these critical systems, Tyler Technologies supports various sectors from local government offices to educational institutions and court systems, ensuring the smooth operation and management of public resources and records. A significant player in the GovTech industry, Tyler Technologies focuses on facilitating digital transformation, helping clients transition to digital-first services, and improving service delivery to communities. Established in 1966 and headquartered in Plano, Texas, the company plays a pivotal role in modernizing government technology, creating scalable solutions designed to meet the unique needs of public sector clients.
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