Tyler Technologies said total revenues for the 12 months of 2024 increased 9.5% compared to the prior period, with revenues from recent acquisitions contributing $10.4 million or 0.5% to the total revenue increase. Subscriptions revenue grew 15.8%, which the company cited as primarily due to an ongoing shift toward SaaS arrangements for both new and existing clients.

1. 01

   Tyler Technologies said total revenues for the 12 months of 2024 increased 9.5% compared to the prior period, with revenues from recent acquisitions contributing $10.4 million or 0.5% to the total revenue increase. Subscriptions revenue grew 15.8%, which the company cited as primarily due to an ongoing shift toward SaaS arrangements for both new and existing clients.

2. 02

   Tyler Technologies said annualized recurring revenue as of December 31, 2024 was $1.86 billion, an increase of approximately 15% compared to $1.61 billion as of the end of 2023. Subscriptions and maintenance comprised approximately 84% of revenues in 2024, and client attrition based on the company's number of clients was approximately 2% during the year.

3. 03

   Tyler Technologies said operating activities generated $624.6 million of cash in 2024, exceeding $380.4 million in 2023. The company cited net income of $263.0 million, non-cash depreciation and amortization of $143.4 million, and non-cash share-based compensation expense of $122.8 million as components of operating cash flow.

4. 04

   Tyler Technologies said cash and cash equivalents as of December 31, 2024 were $744.7 million, and it entered into an unsecured revolving credit facility on September 25, 2024 of $700.0 million. As of December 31, the company had no borrowings outstanding under the facility and Convertible Senior Notes due 2026 with a principal amount of $600.0 million.

Key figures

Fiscal year ended December 31, 2024

Revenue

$2.1B

Operating income

$300M

Net income

$263M

EPS

$6.05

Gross profit

$936M

Operating cash flow

$625M

Analysis 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.

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.