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Tyler
🇺🇸 NYSE:TYL
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Dec 31, 2019

Tyler Q4 2019 Earnings Report

Tyler Technologies' Q4 2019 earnings were released, showcasing strong organic revenue growth and a substantial increase in bookings.

Key Takeaways

Tyler Technologies reported a strong fourth quarter in 2019, with total revenues up 19.4% to $288.8 million and organic revenue growth of 10.6%. Bookings grew by 33.5%, and the company achieved significant milestones, including surpassing $1 billion in annual revenues and $300 million in adjusted EBITDA. Subscription revenues continued to drive growth, increasing by 34.3%.

Total revenues increased by 19.4% to $288.8 million, with organic revenue growth at 10.6%.

Operating income rose by 16.0% to $45.2 million.

Net income increased by 48.3% to $46.8 million, or $1.15 per diluted share.

Bookings grew by 33.5%, and subscription revenues increased by 34.3%.

Total Revenue
$287M
Previous year: $243M
+18.3%
EPS
$1.43
Previous year: $1.26
+13.5%
Organic Revenue Growth
10.6%
Gross Profit
$142M
Previous year: $116M
+22.8%
Cash and Equivalents
$233M
Previous year: $134M
+73.3%
Free Cash Flow
$67.8M
Previous year: $66.9M
+1.4%
Total Assets
$2.19B
Previous year: $1.79B
+22.4%

Tyler

Tyler

Tyler Revenue by Segment

Forward Guidance

Tyler Technologies provided guidance for the full year 2020, anticipating GAAP total revenues in the range of $1.204 billion to $1.224 billion and non-GAAP total revenues in the range of $1.205 billion to $1.225 billion. GAAP diluted earnings per share are expected to be in the range of $3.81 to $3.93, while non-GAAP diluted earnings per share are expected to be in the range of $5.60 to $5.72.

Positive Outlook

  • GAAP total revenues are expected to be in the range of $1.204 billion to $1.224 billion.
  • Non-GAAP total revenues are expected to be in the range of $1.205 billion to $1.225 billion.
  • GAAP diluted earnings per share are expected to be in the range of $3.81 to $3.93.
  • Non-GAAP diluted earnings per share are expected to be in the range of $5.60 to $5.72.
  • The non-GAAP annual effective tax rate is expected to be 24%.

Challenges Ahead

  • GAAP diluted earnings per share may vary significantly due to the impact of stock incentive awards.
  • Approximately 55% to 60% of non-GAAP diluted earnings per share is expected to be generated in the second half of the year.
  • Pretax non-cash, share-based compensation expense is expected to be approximately $77 million.
  • Research and development expense is expected to be in the range of $92 million to $94 million.
  • Capital expenditures are expected to be in the range of $36 million to $38 million.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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