Tyler Technologies, Inc. is a leading provider of integrated software and technology management solutions for the public sector, serving local, state, and federal government entities. The company offers a broad range of software solutions and services designed to support essential government functions, including public safety, justice, public health, taxation, budgeting, infrastructure, land use, utility and civic services, regulation, K-12 education, and social services . Tyler's business is organized into two main segments: Enterprise Software (ES) and Platform Technologies (PT) . The company generates revenue primarily from subscription-based services, including software as a service (SaaS) and transaction-based fees related to digital government services and online payment processing .
- Enterprise Software (ES) - Provides software systems for mission-critical "back-office" functions such as public administration, courts, public safety, education, and property recording solutions.
- Platform Technologies (PT) - Offers platform and transformative solutions, including digital solutions, payment processing, and streamlined data processing.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
H. Lynn Moore, Jr. ExecutiveBoard | President and Chief Executive Officer | None | Joined TYL in 1998. Held roles including General Counsel, Secretary, EVP, and President. Became CEO in 2018. Over 25 years of corporate and industry experience. | View Report → |
Brian K. Miller Executive | EVP, Chief Financial Officer, Treasurer | Board of Trustees Member, Texas A&M University 12th Man Foundation | Joined TYL in 1997. Held various senior financial roles. Over 35 years of public company financial management experience. CPA with prior audit experience at Ernst & Young. | |
Jeffrey D. Puckett Executive | Chief Operating Officer | None | Joined TYL in 1992. Former Chief Strategy Officer and President of Courts & Justice Division. Oversees cloud initiatives, corporate technology, IT, and information security teams. | |
Brenda A. Cline Board | Director | CFO, Treasurer, and Secretary of Kimbell Art Foundation; Chair of the Board of Trustees, American Beacon Funds; Director, Range Resources Corporation; Trustee, Texas Christian University (TCU) | Director since 2014. Chair of Audit Committee and member of Nominating and Governance Committee. CPA with extensive financial and governance experience. | |
Daniel M. Pope Board | Director | Executive Chair, Victory Bank; Member, Rawls College of Business Advisory Council at Texas Tech University | Director since 2016. Chair of Compensation Committee and member of Audit Committee. Former Mayor of Lubbock, Texas (2016-2022). | |
Dustin R. Womble Board | Director | Board of Regents, Texas Tech University System; Chair of the Board, Metallenium, LLC; Board Member, TRUNO; Board Member, Lubbock Christian Schools | Director since 2005. Former EVP of TYL and founder of INCODE, acquired by TYL in 1998. Over 35 years of industry experience. | |
Glenn A. Carter Board | Director | None | Director since 2014. Lead Independent Director, Chair of Nominating and Governance Committee, and member of Compensation Committee. Holds NACD Directorship Certification and CERT Certificate in Cybersecurity Oversight. |
- The Total Contract Value (TCV) of cloud flips tripled to $36 million this quarter; do you expect this level of growth in cloud flips to be sustainable, and how does this align with your projections for cloud adoption through 2030?
- You've indicated that competition in the market remains neutral, but can you provide more detail on how competitors like ServiceNow and Workday are impacting your business in key sub-verticals such as ERP and public safety?
- With some clients still hesitant to migrate to the cloud due to control concerns and aging infrastructure, what specific strategies are you implementing to address these hesitations and accelerate cloud adoption among your existing on-premise client base?
- Given that version consolidation is crucial for your cloud efficiency and margin improvement goals, particularly in products like Public Safety where consolidation may be lagging, what challenges are you facing in this process, and how might they affect your timeline for achieving targeted gross margin improvements?
- As the impact of ARPA funds on your deals has been somewhat mixed, how are you assessing the potential risks associated with the eventual depletion of these funds, and what measures are you taking to sustain your growth in the absence of such government funding?
Research analysts who have asked questions during TYLER TECHNOLOGIES earnings calls.
Alexei Gogolev
JPMorgan Chase & Co.
4 questions for TYL
Gabriela Borges
Goldman Sachs
4 questions for TYL
Jonathan Ho
William Blair & Company
4 questions for TYL
Joshua Reilly
Needham & Company
4 questions for TYL
Michael Turrin
Wells Fargo
4 questions for TYL
Saket Kalia
Barclays Capital
4 questions for TYL
Aleksandr Zukin
Wolfe Research
3 questions for TYL
Charles Strauzer
CJS Securities
3 questions for TYL
Hoi-Fung Wong
Oppenheimer & Co. Inc.
3 questions for TYL
Keith Housum
Northcoast Research
3 questions for TYL
Mark Schappel
Loop Capital Markets
3 questions for TYL
Terrell Tillman
Truist Securities
3 questions for TYL
Clarke Jeffries
Piper Sandler & Co.
2 questions for TYL
Robert Oliver
Robert W. Baird & Co.
2 questions for TYL
Rob Oliver
Robert W. Baird & Co.
2 questions for TYL
Alex Zukin
Wolfe Research LLC
1 question for TYL
Bill Self
Evercore ISI
1 question for TYL
Charlie Strauzer
CJS Securities
1 question for TYL
Ken Wong
Oppenheimer & Co. Inc.
1 question for TYL
Matthew VanVliet
BTIG, LLC
1 question for TYL
Matt Vanvliet
Cantor Fitzgerald
1 question for TYL
S. Kirk Materne
Evercore ISI
1 question for TYL
Terry Tillman
Truist Securities
1 question for TYL
Trevor Walsh
Citizens JMP
1 question for TYL
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
We compete with national firms, some of which have greater financial and technical resources than we do, including Oracle Corporation. | |
Infor | We compete with national firms, some of which have greater financial and technical resources than we do, including Infor. |
We compete with national firms, some of which have greater financial and technical resources than we do, including SAP AG. | |
We compete with national firms, some of which have greater financial and technical resources than we do, including Workday, Inc. | |
CentralSquare Technologies | We compete with national firms, some of which have greater financial and technical resources than we do, including CentralSquare Technologies. |
We compete with national firms, some of which have greater financial and technical resources than we do, including Thomson Reuters Corporation. | |
We compete with national firms, some of which have greater financial and technical resources than we do, including Motorola Solutions, Inc. | |
We compete with national firms, some of which have greater financial and technical resources than we do, including Axon Enterprise, Inc. | |
Constellation Software, Inc. | We compete with national firms, some of which have greater financial and technical resources than we do, including Constellation Software, Inc. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
MyGov | 2025 | Acquired on January 31, 2025 for approximately $18.5 million paid entirely in cash (subject to post‐closing adjustments). The deal expands Tyler’s public administration offerings by integrating community development and asset management solutions used by around 150 clients, primarily in Texas. |
ARInspect and ResourceX | 2023 | Completed on October 31, 2023 for a combined total of approximately $38 million paid in a mix of cash and stock. The acquisitions strategically enhance Tyler’s applications platform with AI-powered field operations (ARInspect) and priority-based budgeting solutions (ResourceX), addressing key challenges in traditional budgeting processes. |
Computer Systems Innovations (CSI) | 2023 | Finalized on August 8, 2023 for about $36.3 million (net of $0.4 million cash acquired), including cash and indemnity holdbacks. The acquisition adds AI-driven automation, redaction, and indexing technology to the Courts & Justice unit, boosting efficiency (e.g., 50% labor cost reduction for Tarrant County) and enriching Tyler’s AI & machine learning capabilities with $21.4M in goodwill and $16.8M in identifiable intangible assets. |
Small Acquisition | 2023 | Completed in early 2023 with a purchase price of $1.9 million, along with an additional $2.6 million in holdbacks noted for the nine months ended September 2023. Specific details about the target company or business focus were not disclosed in the documents. |
US eDirect Inc. | 2022 | Acquired on February 8, 2022 for a total of approximately $116.6–$116.7 million (net of $6.4 million cash acquired) with $5.0–$5.5 million in indemnity holdbacks subject to post‐closing adjustments. The acquisition strategically expands Tyler’s footprint in campground and outdoor recreation management, adding significant technology solutions along with $81.2–$91.7 million in goodwill and $34.1–$48.0 million in identifiable intangible assets. |
Recent press releases and 8-K filings for TYL.
- 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.
- 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.
- 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.
- 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.
- Tyler Technologies reported Q3 revenue of $595.9 million, surpassing expectations, with EPS of $1.93, up from $1.74 a year ago.
- The company raised the lower end of its 2025 revenue guidance to $2.34–2.36 billion amid resilient demand for public-sector digital modernization.
- Financial metrics remained robust with a current ratio of 1.03, debt-to-equity of 0.18, and an Altman Z-Score of 8.57, indicating low distress risk.
- Management flagged challenges from declining profit margins and noted 16,750 insider shares sold over the past three months.
- Total revenues of $595.9 million, up 9.7% year-over-year; recurring revenues of $512.4 million, up 10.7%, representing 86.0% of total; subscription revenues of $401.1 million, up 15.5%
- GAAP net income of $84.4 million, or $1.93 per diluted share, up 11.2%; non-GAAP net income of $130.4 million, or $2.97 per diluted share, up 18.5%
- Cash flow: operations generated $255.2 million (-3.2%), free cash flow of $247.6 million (-2.1%); repurchased ~300,000 shares for ~$173 million
- Acquired Emergency Networking for approximately $19.4 million in cash during the quarter
- FY2025 guidance: revenues of $2.335 billion to $2.360 billion; GAAP EPS $7.28–$7.48; non-GAAP EPS $11.30–$11.50
- Tyler saw federal spending uncertainty cause Q1 delays in bookings due to customer hesitancy, but experienced strong sequential bookings growth in Q2 and expects continued improvement through the year.
- Local governments remain staffing-constrained rather than downsizing; Tyler’s AI-powered automation features in court systems and resident assistant applications help address these shortages.
- 2024 was an exceptional year for SaaS bookings; 2025’s new logo wins, flips, renewals, and expansions are on track to support ~20% SaaS revenue growth through 2025 and high-teens growth through 2030.
- On-prem to cloud migrations (“flips”) are projected to peak in 2027–28, with 80–85% of customers migrating by 2029/30, driven by version consolidation, cloud-only feature incentives, and cybersecurity benefits.
- Payments transaction volumes grew >21% in Q2, bolstered by integrated payments solutions in utility billing, courts, and outdoor recreation (e.g., California State Parks), with meaningful new ARR contributions.
- Delivered $596.1 M in total revenue, up 10.2% year-over-year; SaaS revenue grew 21.5% to $189.6 M and transaction revenue rose 21.3% to $215.5 M. Non-GAAP operating margin expanded 200 bps to 26.5%, and free cash flow reached $88 M (+80.9%).
- Continued momentum with total ARR of $2.07 B (+15.2%) and total bookings up 28.8% sequentially; SaaS bookings jumped 47.7% sequentially and 8.2% year-over-year.
- Raised 2025 guidance: revenue of $2.33–2.36 B, non-GAAP EPS of $11.20–11.50, free cash flow margin of 25–27%, SaaS revenue growth of 21–23%, and transaction revenue growth of 14–16%.
- Acquired Emergency Networking to expand public safety offerings and announced that long-time board chair John Maher will retire after May 2026, with CEO Lynn Moore slated to become chair.
- Total revenues of $596.1 million, up 10.2%, with recurring revenues of $517.2 million up 15.2% including subscription revenues of $405.1 million, up 21.4%.
- GAAP net income of $84.6 million, or $1.93 per diluted share, a 24.9% increase year-over-year.
- Adjusted EBITDA of $169.1 million, up 18.3%, and free cash flow of $88.0 million, up 80.9%.
- 2025 guidance: revenues of $2.33–2.36 billion, GAAP EPS $7.40–7.70 and non-GAAP EPS $11.20–11.50.
- Tyler Connect conference was a major event with nearly 5600 customers and close to 1000 employees in attendance, signaling strong customer engagement.
- The call highlighted the company’s ongoing cloud migration strategy, including the closure of the Dallas data center in mid‑2024 and a planned closure of the Maine facility by the end of 2025, aiming for over 85% cloud-based customer migration by 2030.
- Executives emphasized integrating AI features across products and discussed progress in optimizing internal systems and customer experience, including the appointment of a new Chief Client Officer.
- Competitive positioning in the public safety market was noted, with successes in winning key state police contracts and leveraging integrated court systems and ERP solutions.