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Sep 30, 2023
Tyler Q3 2023 Earnings Report
Tyler Technologies' Q3 2023 earnings reflected growth in SaaS revenues and cash from operations.
Key Takeaways
Tyler Technologies reported a 4.5% increase in total revenues, reaching $494.7 million. SaaS revenues grew by 26%, and cash from operations increased by 37.2%. The company completed the acquisition of Computer Systems Innovations during the quarter.
Total revenues increased by 4.5% year-over-year, reaching $494.7 million.
SaaS revenues grew organically by 26.0%.
Cash flows from operations increased by 37.2% year-over-year, totaling $177.5 million.
The company completed the acquisition of Computer Systems Innovations (CSI).
Revenue by Segment
Forward Guidance
Tyler Technologies provided guidance for the full year 2023.
Positive Outlook
- Total revenues are expected to be in the range of $1.942 billion to $1.962 billion.
- Non-GAAP diluted earnings per share are expected to be in the range of $7.66 to $7.80.
- Research and development expense is expected to be in the range of $114 million to $115 million.
- Fully diluted shares for the year are expected to be in the range of 42.5 million to 43.0 million shares.
- Capital expenditures are expected to be in the range of $58 million to $60 million.
Challenges Ahead
- GAAP diluted earnings per share are expected to be in the range of $3.82 to $3.96 and may vary significantly due to the impact of stock option activity on the GAAP effective tax rate.
- Interest expense is expected to be approximately $24 million, including approximately $5 million of non-cash amortization of debt discounts and issuance costs.
- Pretax non-cash, share-based compensation expense is expected to be approximately $110 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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