TYL Tyler Technologies 2024 Q2 Earnings 8-K

earnings.cc presents:
Tyler Technologies Reports Strong Q2 2024 Results
Financial Highlights:
Total Revenues: $541.0 million (up 7.3% year-over-year).
Recurring Revenues: $449.0 million (up 8.4%), accounting for 83% of total revenues.
Subscription Revenues: $333.7 million (up 12.1%), with SaaS revenues rising 23.2% to $156.0 million.
Annualized Recurring Revenue (ARR): $1.80 billion (up 8.4%).
GAAP Operating Income: $78.0 million (up 26.1%).
Non-GAAP Operating Income: $132.6 million (up 14.4%).
GAAP Net Income: $67.7 million or $1.57 per share (up 37.9%).
Non-GAAP Net Income: $103.9 million or $2.40 per share (up 20.9%).
Adjusted EBITDA: $144.0 million (up 14.7%).
Cash Flow from Operations: $64.3 million (compared to a negative $19.2 million).
Free Cash Flow: $48.6 million (compared to a negative $33.2 million).
CEO Comments:
Lynn Moore highlighted strong SaaS revenue growth and improved transaction revenues. The company is seeing increased cloud adoption and a strong business pipeline. The outlook for the rest of 2024 is positive, with revised full-year guidance.
2024 Guidance:
Total Revenues: $2.120 billion to $2.150 billion.
GAAP EPS: $5.76 to $5.96.
Non-GAAP EPS: $9.25 to $9.45.
Free Cash Flow Margin: 18% to 20%.
R&D Expenses: $122 million to $125 million.
Capital Expenditures: $50 million to $52 million.
Conference Call:
A call to discuss these results will be held on July 25, 2024, at 10:00 a.m. ET. Details for joining the call are provided, including a live audio webcast.
[script + introutro]