TYLER TECHNOLOGIES (TYL) Company Report

Stable public-sector demand with leading indicators like RFP volumes at elevated levels; minimal impact from federal shutdown or policy shifts.
Domain-specific AI focus, automating repetitive tasks in key workflows (e.g., Document Automation in courts) with examples like Hillsborough County projecting over $2 million savings versus a $950 k SaaS fee.
Accelerating cloud migration, currently ~50/50 on-prem/cloud, aiming for over 80% cloud adoption by 2030; driven by hardware refresh cycles, staffing and security concerns.
Version consolidation efforts reduce sprawl to two main releases per product, targeting a single-version cloud platform within about two years to drive support and development efficiencies.
Cross-sell and client experience initiatives, targeting 8–10 solutions per client (average of 2–3 today), led by a new Chief Client Officer role and measured by mean time to resolution and net revenue retention.

2 days ago

Transcript

Tyler Technologies outlines stable demand, AI strategy and cloud migration roadmap

TYL

Revenue Acceleration/Inflection

Product Launch

Stable public sector demand with leading indicators like RFP volumes at elevated levels, unaffected materially by governmental disruptions.
Emphasized domain-specific AI initiatives, leveraging decades of public sector expertise and data from 15,000 clients to automate repetitive tasks in areas such as courts and permitting.
Highlighted current AI use case: Document Automation in courts delivers significant labor savings (Hillsborough County expects >$2 M savings vs. $950 k SaaS fee).
Cloud migration on track: ~50/50 on-prem vs. cloud today, aiming for 80%+ cloud adoption by 2030 with average billing uplift of ~1.7×–1.8× per migration.
Driving cross-sell and upsell, targeting 8–10 products per customer through initiatives like a new Chief Client Officer role and unified client engagement systems.

2 days ago

Transcript

Tyler outlines demand trends, AI strategy, and cloud transition at UBS 2025 Global Technology and AI Conference

TYL

M&A

New Projects/Investments

Tyler reports a stable, elevated demand environment in state and local government, with RFP volume and pipeline activity remaining consistent despite early-year funding and administrative disruptions.
The company emphasizes domain-specific AI as a competitive moat, initially automating repetitive public-sector workflows (e.g., Document Automation in courts), with cases like Hillsborough County expecting >$2 M annual labor savings on a $950 K SaaS investment.
50 % of Tyler’s customer base is now cloud-based, targeting >80 % by 2030, with migrations driven by hardware refresh cycles, IT staffing challenges, and security concerns, and peaking in the next 2–3 years.
Initiatives to expand cross-sell from an average of 2–3 products toward 8–10 include hiring a Chief Client Officer, unifying support channels, standardizing CRM systems, and leveraging cloud migrations to introduce new modules.
With debt largely repaid, Tyler plans a more proactive M&A approach over the next few years, having announced its first deal under the renewed strategy.

2 days ago

Transcript

Tyler Technologies acquires Edulink to boost K-12 HR compliance automation

TYL

M&A

Tyler Technologies acquired Edulink, integrating flagship PAETEP and Comply solutions into its School ERP offerings.
Edulink’s management and staff will join Tyler’s Municipal and Schools Division, enabling streamlined teacher evaluations, compliance tracking, and workflow automation for K-12 administrators.
The deal aims to reduce administrative burdens and deliver data-driven tools to educational institutions by combining Edulink’s expertise with Tyler’s market reach.
Tyler reports a 3-year revenue CAGR of 9.2%, an operating margin of 15.42%, a net margin of 13.72%, and a gross margin declining 2.1% annually.

3 days ago

Morningstar

Tyler Technologies acquires CloudGavel

TYL

M&A

Tyler Technologies has acquired CloudGavel, a Baton Rouge–based e-warrant solutions specialist; terms of the deal were not disclosed.
The acquisition strengthens Tyler’s Courts & Justice offerings by integrating CloudGavel’s cloud-native eWarrant technology for electronic submissions and tracking.
CloudGavel’s platform enables officers to obtain warrant approvals on-scene within minutes instead of hours, eliminating manual courthouse trips and data entry.
CloudGavel’s team will be integrated into Tyler’s Courts & Justice Division, reinforcing Tyler’s mission to deliver innovative public sector solutions.

Nov 19, 2025, 8:01 PM

Morningstar

Tyler Technologies outlines cloud progress and targets

TYL

Guidance Update

M&A

Tyler is on track—or ahead of plan—to meet its 2030 targets, having already exceeded its 2025 goals for transaction growth and cash flow margins, with cloud migration progress in line with expectations.
20% expected SaaS revenue growth for next year, driven by 12% from existing bookings, 3% from on-prem flips (at 1.7x uplift), and 5% from new bookings.
Over 90% of new sales are now cloud-based; roughly 50% of current revenues remain on-prem and are slated for migration, which will bolster recurring SaaS revenue.
Margin expansion initiatives—version consolidation, AWS scale efficiencies, cloud-optimized releases and data center exits—support a path to 30%+ operating margins and $1 billion in free cash flow by 2030.
The 2021 NIC acquisition underpins a durable 10–13% transaction revenue CAGR, leveraging integrated payment solutions and hybrid fee models to drive cross-sell opportunities.

Nov 18, 2025, 9:30 PM

Transcript

Tyler Technologies reports Q3 2025 results

TYL

Earnings

Guidance Update

M&A

Revenue grew 9.7% to $595.9 million; SaaS revenue rose 20% to $199.8 million and transaction revenue increased 11.5% to $201.3 million.
Total bookings reached a new high, with SaaS bookings up 5% sequentially and 5.8% year-over-year; total SaaS ARR was $2.0 billion, up 10.7%.
Non-GAAP operating margin expanded to 26.6%, free cash flow was $247.6 million, and the company held $973 million in cash and investments against $600 million of convertible debt.
Full-year 2025 guidance raised to $2.335–2.360 billion in revenue (≈10% growth), non-GAAP EPS of $11.30–11.50, and a free cash flow margin of 25–27%.
Strategic progress included repurchasing ~300,000 shares, closing the MyGov and Emergency Networking acquisitions, and continued advancement of cloud and AI-driven offerings.

Oct 30, 2025, 2:00 PM

Transcript

Tyler Technologies reports Q3 2025 results

TYL

Earnings

Guidance Update

Revenue Acceleration/Inflection

Tyler delivered Q3 revenue of $595.9 M, up 9.7% YoY, with recurring revenues of $512.4 M, up 10.7% YoY.
GAAP diluted EPS was $1.93, a 10.9% YoY increase, and adjusted EBITDA reached $169.9 M, up 14.4% YoY.
Free cash flow was $247.6 M (41.5% margin), net leverage remained zero, and the company repurchased approximately 300,000 shares.
Transaction bookings grew 11.5% YoY, and total SaaS bookings hit an all-time high, up 5.8% YoY.
2025 guidance calls for $2.335 B–$2.360 B in revenue (∼10% growth) and non-GAAP EPS of $11.30–$11.50.

Oct 30, 2025, 2:00 PM

Presentation

Tyler Technologies reports Q3 2025 results

TYL

Earnings

Guidance Update

M&A

Revenue of $595.9 M (+9.7%), SaaS revenue of $199.8 M (+20%) and transaction revenue of $201.3 M (+11.5%); record SaaS bookings rose 5.8% YoY, total ARR ~$2 B (+10.7%).
Non-GAAP operating margin expanded to 26.6% (+120 bps); operating cash flow $255.2 M and free cash flow $247.6 M; cash/investments ~$973 M vs. $600 M convertible debt.
2025 guidance: revenues $2.335–2.360 B (~10% growth), GAAP EPS $7.28–7.48, non-GAAP EPS $11.30–11.50, free cash flow margin 25–27%, R&D $202–205 M; 2026 outlook: ~20% SaaS growth, 10–12% recurring revenue growth.
Accelerating cloud transition and M&A: closed MyGov and Emergency Networking; >$1 B cash, convertible debt maturing March 2026; repurchased ~300 K shares in Q3.
Launched AI-driven solutions delivering 10–30% productivity gains (e.g., $953 K ARR with Hillsborough County); public sector demand remains resilient.

Oct 30, 2025, 2:00 PM

Transcript

Tyler Technologies reports Q3 2025 earnings

TYL

Earnings

Guidance Update

M&A

Total revenues of $595.9 M (+9.7% y/y), with SaaS revenue up 20% to $199.8 M and transaction revenue up 11.5% to $201.3 M; total SaaS bookings reached a record high, up 5% sequentially and 5.8% y/y.
Non-GAAP operating margin expanded to 26.6% (↑120 bps y/y); cash flow from operations of $255.2 M and free cash flow of $247.6 M; ended Q3 with $973 M in cash and $600 M of convertible debt outstanding.
2025 guidance raised: total revenues of $2.335–2.360 B (~10% growth); GAAP EPS of $7.28–7.48; non-GAAP EPS of $11.30–11.50; free cash flow margin of 25%–27%.
Strategic priorities include completion of the cloud transition, AI innovation, an active M&A pipeline (two acquisitions closed YTD), and 300k shares repurchased in Q3.

Oct 30, 2025, 2:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for TYLER TECHNOLOGIES.

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