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Mar 31, 2024
Tyler Q1 2024 Earnings Report
Reported strong Q1 2024 results with SaaS revenue growth of 22%.
Key Takeaways
Tyler Technologies reported strong first-quarter results, exceeding expectations across key metrics. Total revenue grew by 8.6%, driven by a 22% increase in SaaS revenues. The company repaid the final $50 million of its term debt and provided a positive outlook for the remainder of 2024.
Total revenue increased by 8.6%, driven by SaaS revenue growth of 22%.
Recurring revenues grew by 8.8% and comprised 84.0% of total revenues.
GAAP operating income rose by 48.9%, and GAAP net income increased by 75.4%.
The company repaid the final $50 million of its term debt, maintaining low net leverage.
Tyler
Tyler
Tyler Revenue by Segment
Revenue by Segment
Subscriptions Revenue
CapyFin.comMaintenance Revenue
CapyFin.comProfessional services Revenue
CapyFin.comSoftware licenses and royalties Revenue
CapyFin.comHardware and other Revenue
CapyFin.com Forward Guidance
Tyler Technologies provided guidance for the full year 2024, including total revenues between $2.110 billion and $2.140 billion, GAAP diluted earnings per share between $5.27 and $5.47, non-GAAP diluted earnings per share between $9.10 and $9.30, and a free cash flow margin between 17% and 19%.
Positive Outlook
- Total revenues are expected to be in the range of $2.110 billion to $2.140 billion.
- GAAP diluted earnings per share are expected to be in the range of $5.27 to $5.47.
- Non-GAAP diluted earnings per share are expected to be in the range of $9.10 to $9.30.
- Free cash flow margin is expected to be in the range of 17% to 19%.
- Research and development expense is expected to be in the range of $125 million to $130 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income