NYSE$TYL
Tyler Technologies Inc. · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported a 16.0% increase in total revenues driven by 28.2% growth in subscriptions.
Tyler Technologies reported strong second-quarter results with a 16.0% increase in total revenues, driven by substantial growth in subscription revenues. The company's focus on transitioning to SaaS and managing costs contributed to a solid financial performance.
- Total revenues increased by 16.0%, with organic revenue growth of 6.2%.
- Subscription revenues grew by 28.2% in total and 14.1% organically, marking 66 consecutive quarters of double-digit subscription revenue growth.
- Bookings were robust at approximately $562 million, growing 21% over the previous year.
- The number of clients converting from on-premises to SaaS reached a new high of 96 in the second quarter.
Headline financials
Revenue & EPS history
Tyler · Revenue · Quarterly
$469M
Revenue by segment
Tyler · $460M total across 5 segments · Q2 2022
- Subscriptions$256M+28.2%55.6%
- Maintenance$117M-2.3%25.4%
- Professional services$63.1M+18.4%13.7%
- Software licenses and royalties$15M-14.7%3.3%
- Hardware and other$9.11M+18.4%2.0%
Forward guidance
Tyler Technologies expects GAAP and non-GAAP total revenues to be in the range of $1.835 billion to $1.870 billion for the full year 2022. GAAP diluted earnings per share are expected to be in the range of $3.60 to $3.76, and non-GAAP diluted earnings per share are expected to be in the range of $7.36 to $7.52.
Tailwinds
- GAAP and non-GAAP total revenues are expected to be in the range of $1.835 billion to $1.870 billion.
- GAAP diluted earnings per share are expected to be in the range of $3.60 to $3.76.
- Non-GAAP diluted earnings per share are expected to be in the range of $7.36 to $7.52.
- Research and development expense is expected to be in the range of $98 million to $101 million.
- Fully diluted shares for the year are expected to be in the range of 42.4 million to 42.8 million shares.
Headwinds
- Total revenues are expected to include approximately $44 million of COVID-related revenues from NIC's TourHealth and rent relief services.
- Interest expense is expected to be approximately $30 million, including approximately $7.5 million of non-cash amortization of debt discounts and issuance costs.
- The non-GAAP annual effective tax rate is expected to be 24%.
- Capital expenditures are expected to be in the range of $58 million to $62 million, including approximately $34 million of capitalized software development costs.
- Total depreciation and amortization expense is expected to be approximately $144 million, including approximately $109 million from amortization of acquisition intangibles.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+1.4%
Avg return
Earnings day
+0.6%
Avg return
5 days after
-0.1%
Avg return
30 days after
63%
41 / 65 earnings
Positive
+13.1%
Q3 2010
Best reaction
-15.4%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.5% | -7.9% | -12.3% | |
| Q4 2025 | -15.4% | -7.9% | +3.1% | |
| Q3 2025 | +0.0% | -1.7% | -1.8% | |
| Q1 2025 | -6.8% | -6.2% | -0.6% | |
| Q4 2024 | +6.0% | +4.9% | -7.7% | |
| Q3 2024 | +4.4% | +3.3% | +4.0% | |
| Q2 2024 | +7.2% | +9.6% | +8.6% | |
| Q1 2024 | +9.5% | +11.2% | +17.6% | |
| Q4 2023 | +2.2% | +2.1% | -3.6% | |
| Q3 2023 | +8.8% | +10.7% | +10.9% | |
| Q2 2023 | -6.1% | -2.8% | -7.2% | |
| Q1 2023 | +6.1% | +4.9% | +8.1% | |
| Q4 2022 | +4.0% | +5.3% | +0.1% | |
| Q3 2022 | -3.6% | -6.6% | -4.4% | |
| Q2 2022 | +11.0% | +11.8% | +5.4% | |
| Q1 2022 | +7.6% | +5.2% | -3.3% | |
| Q4 2021 | -10.2% | -13.8% | -8.6% | |
| Q3 2021 | +1.3% | +2.1% | -5.4% | |
| Q2 2021 | -0.3% | -0.2% | -3.4% | |
| Q1 2021 | -4.6% | -4.1% | -9.8% | |
| Q4 2020 | +10.1% | +12.2% | -2.7% | |
| Q3 2020 | +3.7% | +6.4% | +6.4% | |
| Q2 2020 | +0.8% | +4.8% | -2.8% | |
| Q1 2020 | +2.8% | +0.9% | +20.3% | |
| Q4 2019 | -0.3% | +0.9% | -14.4% | |
| Q3 2019 | +1.6% | +2.1% | +9.8% | |
| Q2 2019 | +5.8% | +3.4% | +10.0% | |
| Q1 2019 | -6.8% | -4.2% | -8.0% | |
| Q4 2018 | -3.3% | -4.8% | -7.8% | |
| Q3 2018 | -6.3% | -9.7% | -7.4% | |
| Q2 2018 | -2.9% | -5.6% | +1.6% | |
| Q1 2018 | -0.2% | +1.0% | +5.3% | |
| Q4 2017 | -2.8% | -0.9% | -0.1% | |
| Q3 2017 | +2.6% | -0.4% | -0.2% | |
| Q2 2017 | -6.1% | -5.1% | -5.9% | |
| Q1 2017 | +3.1% | +1.2% | +5.4% | |
| Q4 2016 | +9.2% | +5.9% | +5.7% | |
| Q3 2016 | -2.7% | -3.1% | -7.2% | |
| Q2 2016 | -0.5% | -1.8% | -0.6% | |
| Q1 2016 | +1.7% | — | — | |
| Q4 2015 | -12.4% | — | — | |
| Q3 2015 | +2.7% | — | — | |
| Q2 2015 | -2.8% | — | — | |
| Q1 2015 | +2.4% | — | — | |
| Q4 2014 | +3.7% | — | — | |
| Q3 2014 | +11.2% | — | — | |
| Q2 2014 | +11.8% | — | — | |
| Q1 2014 | -3.6% | — | — | |
| Q4 2013 | -8.6% | — | — | |
| Q3 2013 | +8.7% | — | — | |
| Q2 2013 | +2.5% | — | — | |
| Q1 2013 | +6.0% | — | — | |
| Q4 2012 | +2.1% | — | — | |
| Q3 2012 | +11.4% | — | — | |
| Q2 2012 | -3.6% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2009 | +5.8% | — | — | |
| Q4 2011 | +5.8% | — | — | |
| Q3 2011 | +13.1% | — | — | |
| Q3 2010 | +13.1% | — | — | |
| Q2 2011 | +0.4% | — | — | |
| Q2 2010 | +0.4% | — | — | |
| Q4 2010 | +0.4% | — | — | |
| Q1 2010 | -10.3% | — | — |
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