Tyler Technologies Inc.
Tyler Technologies Announces Strong First Quarter 2024 Results with 22% SaaS Revenue Growth
Summary
Tyler Technologies, Inc. reported robust financial results for the first quarter of 2024, with total revenues of $512.4 million, an 8.6% increase year-over-year. Subscription revenues grew by 11.7% to $313.2 million, driven by a 22.0% surge in SaaS revenues to $148.8 million. GAAP net income rose to $54.2 million, or $1.26 per diluted share, while non-GAAP net income was $94.7 million, or $2.20 per diluted share. The company also provided full-year 2024 guidance, expecting total revenues between $2.110 billion and $2.140 billion, and non-GAAP diluted earnings per share between $9.10 and $9.30.
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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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