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Mar 31
Tyler Q1 2025 Earnings Report
Tyler Technologies reported strong Q1 2025 results with double-digit revenue and net income growth driven by continued SaaS and transaction-based expansion.
Key Takeaways
Tyler Technologies delivered a strong first quarter with 10.3% revenue growth and a 49.6% surge in GAAP net income, highlighting robust demand in SaaS and transaction-based services.
Total revenue rose to $565,165,000, driven by strong SaaS performance.
GAAP net income grew 49.6% YoY to $81,052,000.
Non-GAAP EPS reached $2.78, compared to $2.20 a year earlier.
SaaS comprised 96% of new software contract value, reflecting strong cloud adoption.
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 raised its full-year guidance, reflecting strong Q1 performance and expected continued strength in SaaS and transaction revenues.
Positive Outlook
- Revenue guidance raised to $2.31B–$2.35B.
- GAAP EPS expected at $7.50–$7.80.
- Non-GAAP EPS forecast at $11.05–$11.35.
- Free cash flow margin projected at 24%–26%.
- SaaS adoption remains high with strong pipeline indicators.
Challenges Ahead
- Operating cash flow declined 21.8% YoY.
- Free cash flow down 15.6% YoY.
- Hardware and license revenues showed YoY declines.
- Deferred revenue dropped from Q4 levels.
- R&D expenses increased significantly YoY, pressuring margins.
Revenue & Expenses
Visualization of income flow from segment revenue to net income