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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
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