Tyler Technologies, Inc. (NYSE:TYL) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Hala Elsherbini - Senior Director-Investor Relations Lynn Moore - President & Chief Executive Officer Brian Miller - Chief Financial Officer Conference Call Participants Matthew VanVliet - BTIG Kirk Materne - Evercore ISI. Joshua Reilly - Needham Rob Oliver - Baird Connor Passarella - Truist Securities Alex Zukin - Wolfe Research Saket Kalia - Barclays Jonathan Ho - William Blair Clarke Jef ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number 1-10485 TYLER TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 75-2303920 (State or other jurisdiction of incorporation or organization) (I.R.S. em ...

Tyler Technologies, Inc. (NYSE:TYL) Q2 2023 Results Conference Call July 27, 2023 10:00 AM ET Company Participants Hala Elsherbini - Senior Director of IR Lynn Moore - President & CEO Brian Miller - CFO Conference Call Participants Pete Heckmann - D.A. Davidson Matthew VanVliet - BTIG Terry Tillman - Truist Securities Gabriela Borges - Goldman Sachs Josh Reilly - Needham Saket Kalia - Barclays Ethan Park - Wolfe Research Michael Turrin - Wells Fargo Securities Kirk Materne - Evercore ISI Charles Strauzer - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number 1-10485 TYLER TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) | Delaware | | 75-2303920 | | | --- | --- | --- | --- | | (State or other jurisdiction of | | (I.R ...

Tyler Technologies, Inc. (NYSE:TYL) Q1 2023 Earnings Conference Call April 26, 2023 10:00 AM ET Company Participants Hala Elsherbini - Senior Director of IR Lynn Moore - President & CEO Brian Miller - CFO Conference Call Participants Sami Badri - Credit Suisse Kirk Materne - Evercore ISI Matthew VanVliet - BTIG Joshua Reilly - Needham & Company Terry Tillman - Truist Securities Saket Kalia - Barclays Pete Heckmann - D.A. Davidson Charles Strauzer - CJS Securities, Inc. Michael Turrin - Wells Fargo Securitie ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number 1-10485 TYLER TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 75-2303920 (State or other jurisdiction of incorporation or organization) (I.R.S. employ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-10485 TYLER TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 75-2303920 (State or other jurisdiction of incorporation or organization) 5101 Ten ...

Financial Data and Key Metrics Changes - Total revenues for Q4 2022 were $452.2 million, an increase of 4.3% year-over-year, with organic growth of approximately 6% excluding COVID-related revenues [12][19] - Recurring revenues accounted for nearly 83% of quarterly revenues, with subscription revenues increasing by 11.9% and organic growth of 14.3% [5][14] - Non-GAAP annual recurring revenue (ARR) was approximately $1.50 billion, up 7.5%, while SaaS software ARR was $440.6 million, up 18.5% [15][19] - Operating margins were pressured due to the shift to cloud and increased R&D expenses, with an estimated impact of bubble costs on 2023 non-GAAP operating margin of approximately 130 basis points [15][25] Business Line Data and Key Metrics Changes - Subscription revenue growth was driven by a shift to SaaS, with 86% of new software contract value being SaaS compared to 77% in Q4 2021 [7][14] - The Digital Solutions division signed significant contracts, including a new contract with the Kansas Department of Revenue and several SaaS agreements with various states [8][9] - Professional services revenue rose 2.8%, with an organic growth of 8.5%, while licensed revenue declined over 60% due to the shift to SaaS [13][14] Market Data and Key Metrics Changes - The backlog at the end of Q4 2022 reached a new high of $1.89 billion, up 5.2% [15] - Bookings for the quarter were approximately $464 million, flat compared to the previous year, with organic bookings up 2% [16] - The company signed 571 new payments deals in 2022, contributing over $13 million in annual recurring revenue, with a significant portion sold to existing clients [10][19] Company Strategy and Development Direction - The company is focused on a cloud-first strategy, aiming to exit proprietary data centers by 2024 and 2025, with expectations of significant declines in licensed revenues replaced by recurring SaaS revenue [22][25] - Strategic acquisitions were made to enhance digital solutions and payments business, with three transactions completed in 2022 [24] - The company anticipates annual organic revenue growth in the 8% to 10% range over the next five to seven years, with consistent long-term margin expansion beginning in 2024 [27][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term prospects, citing healthy budgets among clients and robust market conditions [37][64] - The company expects 2023 to be a margin trough year due to the transition to SaaS and associated costs, with a return to margin expansion anticipated in 2024 [25][36] - The impact of Section 174 tax changes is expected to significantly affect cash tax payments in 2023, potentially increasing cash taxes by around $100 million [21][61] Other Important Information - The company repaid $90 million of term debt in Q4 2022, with a total of $755 million paid down since the NIC acquisition [17] - The company received recognition for its environmental, social, and governance practices, being named to the Dow Jones Sustainability Index North America for the second consecutive year [30] Q&A Session Summary Question: Margin troughing in '23 and future expectations - Management indicated it is early to provide detailed projections for 2024 margins but expects an inflection point in 2023 as recurring revenues offset declines in licenses [31][32] Question: Impact of federal and state budgets on revenue - Management noted that client budgets are generally healthy, with access to federal funds contributing to a robust market environment [37][38] Question: Pace of conversions to SaaS - The company reported an increase in conversions, with 336 flips in 2022 compared to 239 in 2021, and expects this trend to continue [41] Question: Operating margin performance in Q4 - The decline in operating margins was attributed to a significant drop in licensed revenues and higher R&D expenses due to unexpected capitalization changes [42][43] Question: Subscription ARR growth expectations - Management expects subscription bookings and ARR to accelerate in 2023, driven by a strong pipeline and increased transaction activity [58] Question: Procurement cycles and market conditions - Current procurement cycles are normal, with no significant delays noted, and the market remains healthy with strong client budgets [64]

| --- | --- | |-------|------------------------------------| | | | | | | | | | | | Q4 and Fiscal 2022 Earnings Review | | | | Statement Regarding Use of Non-GAAP Measures Tyler Technologies has provided in this presentation financial measures that have not been prepared in accordance with generally accepted accounting principles (GAAP) and are therefore considered non-GAAP financial measures. This information includes non-GAAP revenues, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income ...

Tyler Technologies, Inc. (NYSE:TYL) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET Company Participants Lynn Moore - President & Chief Executive Officer Brian Miller - Chief Financial Officer Conference Call Participants Sami Badri - Credit Suisse Pete Heckmann - D.A. Davidson Kirk Materne - Evercore ISI Michael Turrin - Wells Fargo Securities Matt VanVliet - BTIG Joshua Reilly - Needham Alex Zukin - Wolfe Research Charles Strauzer - CJS Securities Saket Kalia - Barclays Terry Tillman - Trui ...