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Sep 30, 2020
Tyler Q3 2020 Earnings Report
Tyler Technologies experienced double-digit growth in operating income and record highs for free cash flow and adjusted EBITDA.
Key Takeaways
Tyler Technologies reported a 3.8% increase in total revenues, reaching $285.7 million. The company experienced double-digit growth in operating income and record highs in free cash flow. Revenues were impacted by the COVID-19 pandemic, but the company returned to positive revenue growth.
Total revenues increased by 3.8% year-over-year to $285.7 million.
Operating income rose by 24.0% year-over-year to $49.7 million.
Recurring revenues from maintenance and subscriptions grew by 12.0% year-over-year, comprising 72.5% of total revenue.
Total backlog reached $1.55 billion, a 9.2% increase year-over-year.
Tyler
Tyler
Tyler Revenue by Segment
Revenue by Segment
Subscriptions Revenue
CapyFin.comMaintenance Revenue
CapyFin.comSoftware licenses and royalties Revenue
CapyFin.comHardware and other Revenue
CapyFin.com Forward Guidance
Tyler Technologies is providing the following guidance for the full year 2020:
Positive Outlook
- GAAP total revenues are expected to be in the range of $1.117 billion to $1.129 billion.
- Non-GAAP total revenues are expected to be in the range of $1.118 billion to $1.130 billion.
- GAAP diluted earnings per share are expected to be in the range of $4.53 to $4.63.
- Non-GAAP diluted earnings per share are expected to be in the range of $5.48 to $5.58.
- Fully diluted shares for the year are expected to be in the range of 41.5 million to 42.0 million shares.
Revenue & Expenses
Visualization of income flow from segment revenue to net income