The company said total revenues rose 7% and 8%, respectively, for the 3-month and 6-month periods ended June 30, 2024 compared with the prior-year periods, and subscriptions revenue grew 12% in both periods. It cited the ongoing shift to SaaS arrangements as the main factor.

10-QQuarterly reportFiled Jul 31, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said total revenues rose 7% and 8%, respectively, for the 3-month and 6-month periods ended June 30, 2024 compared with the prior-year periods, and subscriptions revenue grew 12% in both periods. It cited the ongoing shift to SaaS arrangements as the main factor.
The company said SaaS subscriptions revenue for the 3-month and 6-month periods ended June 30, 2024 rose 23%, or $156.0 million and $304.8 million, respectively. Transaction-based fee revenue increased 4%, or $177.7 million and $342.2 million, respectively.
ARR was $1.80 billion as of June 30, 2024, up 8% from $1.66 billion a year earlier, the company said. It also said software licenses and royalties revenue fell 46% in the 3-month period and 29% in the 6-month period.
Tyler Technologies said operating cash flow was $136.1 million for the 6-month period ended June 30, 2024, and that it repaid $50.0 million of term debt. Cash and cash equivalents were $250.7 million as of June 30, and the outstanding principal of the Convertible Senior Notes due 2026 was $600.0 million.

Key figures

Quarter ended June 30, 2024

Revenue: $541M
Operating income: $78M
Net income: $68M
EPS: $1.57
Gross profit: $238M

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.

Revenue Rises as Subscriptions Grow

The company said total revenues rose 7% and 8%, respectively, for the 3-month and 6-month periods ended June 30, 2024 compared with the prior-year periods, and subscriptions revenue grew 12% in both periods. It cited the ongoing shift to SaaS arrangements as the main factor.

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

SaaS and Transaction-Based Subscriptions Revenue

The company said SaaS subscriptions revenue for the 3-month and 6-month periods ended June 30, 2024 rose 23%, or $156.0 million and $304.8 million, respectively. Transaction-based fee revenue increased 4%, or $177.7 million and $342.2 million, respectively.

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

ARR and software license revenue decline

ARR was $1.80 billion as of June 30, 2024, up 8% from $1.66 billion a year earlier, the company said. It also said software licenses and royalties revenue fell 46% in the 3-month period and 29% in the 6-month period.

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

6-Month Cash Flow and Debt Repayment

Tyler Technologies said operating cash flow was $136.1 million for the 6-month period ended June 30, 2024, and that it repaid $50.0 million of term debt. Cash and cash equivalents were $250.7 million as of June 30, and the outstanding principal of the Convertible Senior Notes due 2026 was $600.0 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.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.