Tyler Technologies said total revenues rose 10% and 9% for the three and nine months ended September 30, 2024, respectively, compared with the prior year, and subscriptions revenue rose 18% and 14% for the same periods. The company cited an ongoing shift toward SaaS arrangements and growth in certain transaction-based revenues as the main drivers.

10-QQuarterly reportFiled Oct 23, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Tyler Technologies said total revenues rose 10% and 9% for the three and nine months ended September 30, 2024, respectively, compared with the prior year, and subscriptions revenue rose 18% and 14% for the same periods. The company cited an ongoing shift toward SaaS arrangements and growth in certain transaction-based revenues as the main drivers.
The company said SaaS fee revenue rose 20% to $166.6 million in 3 months and 22% to $471.4 million in 9 months. Transaction-based fee revenue increased 15% to $180.6 million in 3 months and 7% to $522.7 million in 9 months.
The company said its backlog as of September 30, 2024 was $2.13 billion, up 9% from September 30, 2023. It said ARR was $1.85 billion as of September 30, 2023 $1.65 billion, up 12%.
Tyler Technologies said cash and cash equivalents were $538.3 million as of September 30, 2024, and operating cash flow for the 9 months was $399.9 million. The company also said it entered into an unsecured revolving credit agreement on September 25, 2024 for $700.0 million, and that there were no borrowings outstanding under the agreement as of September 30.

Key figures

Quarter ended September 30, 2024

Revenue: $543M
Operating income: $83M
Net income: $76M
EPS: $1.74
Gross profit: $237M

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 Growth and Subscription Revenue Growth

Tyler Technologies said total revenues rose 10% and 9% for the three and nine months ended September 30, 2024, respectively, compared with the prior year, and subscriptions revenue rose 18% and 14% for the same periods. The company cited an ongoing shift toward SaaS arrangements and growth in certain transaction-based revenues as the main drivers.

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

SaaS and Transaction-Based Fees

The company said SaaS fee revenue rose 20% to $166.6 million in 3 months and 22% to $471.4 million in 9 months. Transaction-based fee revenue increased 15% to $180.6 million in 3 months and 7% to $522.7 million in 9 months.

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

Backlog and Annualized Recurring Revenue (ARR)

The company said its backlog as of September 30, 2024 was $2.13 billion, up 9% from September 30, 2023. It said ARR was $1.85 billion as of September 30, 2023 $1.65 billion, up 12%.

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

Cash Balance and $700.0 million Credit Agreement

Tyler Technologies said cash and cash equivalents were $538.3 million as of September 30, 2024, and operating cash flow for the 9 months was $399.9 million. The company also said it entered into an unsecured revolving credit agreement on September 25, 2024 for $700.0 million, and that there were no borrowings outstanding under the agreement as of September 30.

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.