AI English summary of an SEC filing — figures as filed
Tyler Technologies TYLThe company said total revenues for the 12 months ended December 31, 2023 rose 5.5% from the prior period, and subscription revenues grew 14.5%. Revenues from recent acquisitions accounted for $22.3 million (1.2%) of the total revenue increase.
Key points
AI summaryThe company said total revenues for the 12 months ended December 31, 2023 rose 5.5% from the prior period, and subscription revenues grew 14.5%. Revenues from recent acquisitions accounted for $22.3 million (1.2%) of the total revenue increase.
Tyler Technologies said ARR was $1.61 billion as of December 31, 2023 (December 31, 2022 $1.50 billion), up 8% from the prior period, and backlog reached $2.03 billion, an increase of 8%. The company cited growth in subscription revenue from the ongoing shift to SaaS arrangements as the factor behind the ARR increase.
The company said net cash provided by operating activities was $380.4 million in 2023 (2022 $381.5 million), of which net income was $165.9 million. Financing activities used $311.8 million in cash, and the company cited the repayment of $345.0 million of term debt as the main factor.
In 2023, the company acquired Resource Exploration, Inc. on October 31, 2023 (purchase price net of cash acquired of approximately $16.3 million), ARInspect, Inc. on October 31, 2023 (approximately $20.5 million), and Computing System Innovations, LLC on August 8, 2023 (approximately $36.2 million).
Key figures
Fiscal year ended December 31, 2023
- Revenue
- $2.0B
- Operating income
- $219M
- Net income
- $166M
- EPS
- $3.88
- Gross profit
- $861M
- Operating cash flow
- $380M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Total revenue up 5.5% in 2023, subscription revenue up 14.5%
The company said total revenues for the 12 months ended December 31, 2023 rose 5.5% from the prior period, and subscription revenues grew 14.5%. Revenues from recent acquisitions accounted for $22.3 million (1.2%) of the total revenue increase.
Source · Based on the MD&A text of the filing
ARR at $1.61 billion, backlog at $2.03 billion
Tyler Technologies said ARR was $1.61 billion as of December 31, 2023 (December 31, 2022 $1.50 billion), up 8% from the prior period, and backlog reached $2.03 billion, an increase of 8%. The company cited growth in subscription revenue from the ongoing shift to SaaS arrangements as the factor behind the ARR increase.
Source · Based on the MD&A text of the filing
Operating cash flow at $380.4 million, term debt repayment of $345.0 million
The company said net cash provided by operating activities was $380.4 million in 2023 (2022 $381.5 million), of which net income was $165.9 million. Financing activities used $311.8 million in cash, and the company cited the repayment of $345.0 million of term debt as the main factor.
Source · Based on the MD&A text of the filing
2023 acquisitions: 3 deals including ResourceX, ARInspect and CSI
In 2023, the company acquired Resource Exploration, Inc. on October 31, 2023 (purchase price net of cash acquired of approximately $16.3 million), ARInspect, Inc. on October 31, 2023 (approximately $20.5 million), and Computing System Innovations, LLC on August 8, 2023 (approximately $36.2 million).
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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