Tyler Technologies Inc.
Tyler Technologies Reports Strong Second Quarter 2024 Earnings with 23% SaaS Revenue Growth
Summary
Tyler Technologies, Inc. reported strong financial results for the second quarter of 2024, with total revenues of $541.0 million, an increase of 7.3% year-over-year. Recurring revenues grew by 8.4% to $449.0 million, representing 83.0% of total revenues. Notably, subscription revenues increased by 12.1% to $333.7 million, driven by a 23.2% growth in SaaS revenues to $156.0 million. The company's GAAP net income was $67.7 million, or $1.57 per diluted share, up 37.9% from the prior year. Non-GAAP net income was $103.9 million, or $2.40 per diluted share, up 20.9%. Tyler also provided updated full-year 2024 guidance, anticipating total revenues between $2.120 billion and $2.150 billion.
Profitelligence Alerts
Get alerts for TYL
Be first to know when Tyler Technologies Inc. files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
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.
Official SEC Documents
Advertisement