The company said total revenue for the quarter ended March 31, 2024 rose 9% from a year earlier, and subscriptions revenue grew 12%. It cited an ongoing shift toward SaaS arrangements and growth in transaction-based revenues such as e-filing and payment services as factors behind the subscriptions revenue increase.

10-QQuarterly reportFiled Apr 24, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said total revenue for the quarter ended March 31, 2024 rose 9% from a year earlier, and subscriptions revenue grew 12%. It cited an ongoing shift toward SaaS arrangements and growth in transaction-based revenues such as e-filing and payment services as factors behind the subscriptions revenue increase.
Tyler Technologies said SaaS revenue for Q1 2024 was $148.8 million, up 22% from $121.9 million a year earlier. It said that in the same quarter, subscription-based arrangements made up about 92% of new software contracts and perpetual licenses about 8%.
The company said backlog as of March 31, 2024 was $2.02 billion, up 9.5% from March 31, 2023. It also said annualized recurring revenue (ARR) as of the same date was $1.72 billion, up 9% from $1.58 billion a year earlier.
Tyler Technologies said it generated $71.8 million of cash from operating activities in Q1 2024 and repaid $50.0 million of term debt in the same quarter. It said cash and cash equivalents as of March 31, 2024 were $188.2 million, and that the Term Loans had been fully repaid, leaving no balance.

Key figures

Quarter ended March 31, 2024

Revenue: $512M
Operating income: $67M
Net income: $54M
EPS: $1.26
Gross profit: $224M
Operating cash flow: $72M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Total revenue up 9%, subscriptions revenue up 12% in Q1 2024

The company said total revenue for the quarter ended March 31, 2024 rose 9% from a year earlier, and subscriptions revenue grew 12%. It cited an ongoing shift toward SaaS arrangements and growth in transaction-based revenues such as e-filing and payment services as factors behind the subscriptions revenue increase.

Source · Based on the MD&A text of the filing

SaaS revenue $148.8 million; subscription-based share of new contracts about 92%

Tyler Technologies said SaaS revenue for Q1 2024 was $148.8 million, up 22% from $121.9 million a year earlier. It said that in the same quarter, subscription-based arrangements made up about 92% of new software contracts and perpetual licenses about 8%.

Source · Based on the MD&A text of the filing

Backlog $2.02 billion, ARR $1.72 billion as of March 31, 2024

The company said backlog as of March 31, 2024 was $2.02 billion, up 9.5% from March 31, 2023. It also said annualized recurring revenue (ARR) as of the same date was $1.72 billion, up 9% from $1.58 billion a year earlier.

Source · Based on the MD&A text of the filing

Operating cash flow for the quarter was $71.8 million; ending cash was $188.2 million

Tyler Technologies said it generated $71.8 million of cash from operating activities in Q1 2024 and repaid $50.0 million of term debt in the same quarter. It said cash and cash equivalents as of March 31, 2024 were $188.2 million, and that the Term Loans had been fully repaid, leaving no balance.

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

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