Tyler Technologies Q2 2024 Earnings Report Filed

TL;DR

Tyler Tech Q2 2024 10-Q filed. Revenue breakdown by segment available.

AI Summary

Tyler Technologies Inc. reported its second quarter 2024 results, ending June 30, 2024. The company's filing details revenue from subscriptions, maintenance, and professional services for the quarter and year-to-date periods, comparing them to the prior year. Specific financial figures for these revenue streams are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Tyler Technologies, crucial for understanding the company's growth trajectory and operational health in the software sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial performance data.

Key Numbers

• 2024 Q2 — Reporting Period (Second quarter of 2024)
• 2023-04-01 to 2023-06-30 — Prior Year Q2 Period (Comparison period for Q2 2024 revenue)
• 2024-01-01 to 2024-06-30 — Year-to-Date Period (Year-to-date revenue comparison)

Key Players & Entities

• TYLER TECHNOLOGIES INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240731 (date) — Filing Date
• 752303920 (company) — IRS Number
• DE (company) — State of Incorporation
• 1231 (date) — Fiscal Year End
• 001-10485 (company) — SEC File Number
• 241162043 (company) — Film Number
• 9727133700 (company) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ge on which registered COMMON STOCK, $0.01 PAR VALUE TYL New York Stock Exchange

Filing Documents

• tyl-20240630.htm (10-Q) — 1601KB
• tyl6302024exhibit311.htm (EX-31.1) — 12KB
• tyl6302024exhibit312.htm (EX-31.2) — 11KB
• tyl6302024exhibit321.htm (EX-32.1) — 11KB
• 0000860731-24-000042.txt ( ) — 8642KB
• tyl-20240630.xsd (EX-101.SCH) — 48KB
• tyl-20240630_cal.xml (EX-101.CAL) — 70KB
• tyl-20240630_def.xml (EX-101.DEF) — 233KB
• tyl-20240630_lab.xml (EX-101.LAB) — 609KB
• tyl-20240630_pre.xml (EX-101.PRE) — 444KB
• tyl-20240630_htm.xml (XML) — 1552KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements TYLER TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share amounts) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenues: Subscriptions $ 333,682 $ 297,789 $ 646,925 $ 578,254 Maintenance 115,309 116,539 232,527 231,670 Professional services 71,928 66,420 136,734 127,349 Software licenses and royalties 5,329 9,779 14,063 19,909 Hardware and other 14,728 13,752 23,086 18,951 Total revenues 540,976 504,279 1,053,335 976,133 Cost of revenues: Subscriptions, maintenance, and professional services 277,145 255,789 546,015 508,204 Software licenses and royalties 1,560 2,432 3,125 4,745 Amortization of software development 4,484 2,896 8,847 5,485 Amortization of acquired software 9,240 8,924 18,479 17,844 Hardware and other 10,731 11,061 15,387 16,841 Total cost of revenues 303,160 281,102 591,853 553,119 Gross profit 237,816 223,177 461,482 423,014 Sales and marketing expense 41,565 37,103 77,992 74,206 General and administrative expense 75,420 77,681 148,130 150,041 Research and development expense 28,951 28,153 58,384 55,139 Amortization of other intangibles 13,845 18,366 31,963 36,774 Operating income 78,035 61,874 145,013 106,854 Interest expense ( 1,253 ) ( 6,387 ) ( 3,437 ) ( 14,071 ) Other income, net 1,883 643 3,728 1,889 Income before income taxes 78,665 56,130 145,304 94,672 Income tax provision 10,927 7,000 23,396 14,667 Net income $ 67,738 $ 49,130 $ 121,908 $ 80,005 Earnings per common share: Basic $ 1.59 $ 1.17 $ 2.87 $ 1.91 Diluted $ 1.57 $ 1.15 $ 2.82 $ 1.87 See accompanying notes. 2 TYLER TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In thousands) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income $ 67,738 $ 49,130 $ 121,908 $ 80,005 Other comprehensive income (loss), net of tax: Securities available-for-sale and

View Full Filing

View this 10-Q filing on SEC EDGAR