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TYL

Tyler Technologies, Inc.

TYL

Tyler Technologies, Inc. • NYSE
$469.62 ▲ 0.79% (+3.66)
Market Cap $20.21 B
52w High $661.31
52w Low $450.00
Dividend Yield 0%
P/E 65.32
Volume 137.89K
Outstanding Shares 43.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $595.879M ▼ $183.52M ▲ $84.393M ▼ 14.163% ▼ $1.96 $138.915M ▼
Q2-2025 $596.117M ▲ $163.755M ▼ $84.627M ▲ 14.196% ▼ $1.96 ▲ $140.669M ▲
Q1-2025 $565.165M ▲ $163.769M ▲ $81.052M ▲ 14.341% ▲ $1.88 ▲ $133.445M ▲
Q4-2024 $541.131M ▼ $151.319M ▲ $65.221M ▼ 12.053% ▼ $1.52 ▼ $114.367M ▼
Q3-2024 $543.337M $140.783M $75.897M 13.969% $1.78 $124.258M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $950.821M ▲ $5.457B ▲ $1.855B ▲ $3.603B ▼
Q2-2025 $892.346M ▲ $5.426B ▲ $1.791B ▲ $3.635B ▲
Q1-2025 $807.403M ▲ $5.192B ▲ $1.679B ▼ $3.513B ▲
Q4-2024 $767.978M ▲ $5.18B ▲ $1.792B ▲ $3.388B ▲
Q3-2024 $544.281M $4.997B $1.721B $3.275B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $84.393M ▼ $255.191M ▲ $-55.179M ▼ $-153.358M ▼ $46.654M ▼ $251.315M ▲
Q2-2025 $84.627M ▲ $98.311M ▲ $-12.759M ▲ $-3.834M ▼ $81.718M ▲ $92.824M ▲
Q1-2025 $81.052M ▲ $56.158M ▼ $-96.169M ▼ $1.019M ▼ $-38.992M ▼ $53.823M ▼
Q4-2024 $65.221M ▼ $224.774M ▼ $-32.939M ▼ $14.59M ▼ $206.425M ▼ $220.973M ▼
Q3-2024 $75.897M $263.716M $-9.4M $33.258M $287.574M $252.913M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Hardware and Other
Hardware and Other
 $10.00M ▲$10.00M ▲$20.00M ▲$10.00M ▼
Maintenance
Maintenance
 $120.00M ▲$110.00M ▼$110.00M ▲$110.00M ▲
Professional Services
Professional Services
 $60.00M ▲$60.00M ▲$60.00M ▲$60.00M ▲
Software Licenses And Royalties
Software Licenses And Royalties
 $0 ▲$10.00M ▲$0 ▼$10.00M ▲
Saas Arrangements
Saas Arrangements
 $170.00M ▲$0 ▼$0 ▲$0 ▲
Transaction Based Fees
Transaction Based Fees
 $180.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Tyler’s income statement shows a business that has grown steadily while slowly improving its profitability. Revenue has risen each year, with healthy gross margins that suggest strong pricing power and a valuable product set. Operating profits have trended upward as the company scales, even while it continues to invest heavily in people and product development. Net income dipped earlier in the period but has since recovered and pushed higher, and earnings per share recently jumped, indicating better efficiency and perhaps the benefits of prior investments and integration. Overall, this is the profile of a mature, growing software company with improving economics rather than explosive but volatile growth.

Balance Sheet

Balance Sheet The balance sheet looks progressively stronger over time. Total assets and shareholder equity have grown, reflecting retained earnings and continued investment in the business. Cash levels have built up meaningfully in the most recent year, giving the company more financial flexibility. Debt increased a few years ago, likely to support acquisitions or larger investments, but has been coming down since, reducing financial risk. The result is a capital structure that appears sound: not debt‑free, but with leverage moving in a more conservative direction and backed by a solid equity base.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been consistently positive and gradually rising, which is what you want to see from a recurring‑revenue software model. After only modest spending on capital expenditures, free cash flow remains strong, implying that the company does not need heavy ongoing investment in physical assets to grow. This gives Tyler room to fund research and development, pursue acquisitions, reduce debt, or build cash reserves, all without depending heavily on new financing. The cash flow profile supports resilience through slower periods and optionality for strategic moves.

Competitive Edge

Competitive Edge Tyler sits in a specialized niche: software for governments and public agencies. That focus gives it deep domain expertise and a reputation as the default choice in many parts of the public sector. Its systems are embedded in critical workflows like courts, tax, public safety, and education, which makes switching to a rival costly, risky, and time‑consuming for clients. This creates strong customer stickiness and a high level of recurring revenue. At the same time, Tyler still faces risks from budget cycles, lengthy procurement processes, and the possibility that larger tech players deepen their push into government. But today, its specialization, customer relationships, and integrated product suite form a meaningful moat.

Innovation and R&D

Innovation and R&D Innovation is a central pillar of Tyler’s strategy. The company is aggressively moving customers from older on‑premise software to cloud‑based, subscription offerings, often in partnership with major cloud providers. At the same time, it is weaving artificial intelligence into its products to automate routine government work, ease staffing shortages, and improve service quality. Tyler’s dedicated R&D spending is substantial for its size, and its long‑term “Tyler 2030” plan emphasizes platform integration, more products per customer, and smarter, data‑driven government operations. The opportunity is significant, but success depends on executing complex migrations for risk‑averse public clients and staying ahead of both regulatory and technology changes.

Summary

Taken together, Tyler Technologies shows the hallmarks of a high‑quality, focused software company serving a sticky customer base. Financially, it combines steady growth, expanding profitability, and strong free cash flow, supported by a healthier balance sheet than a few years ago. Strategically, it benefits from a defensible position in public‑sector software, reinforced by deep specialization, integrated solutions, and high switching costs. The main uncertainties center on government budget pressures, long and sometimes political sales cycles, and the need to flawlessly manage the shift to cloud and AI without disrupting critical public services. If it can continue to execute on its innovation roadmap while preserving reliability for its public clients, Tyler appears positioned to sustain its role as a key technology partner to government agencies over the long term.

NEWS

November 25, 2025 · 9:17 AM UTC

City of Homestead, Florida, Launches Integrated Online Permitting, Licensing, and Code Enforcement Cloud Suite from Tyler Technologies

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November 19, 2025 · 11:17 AM UTC

Tyler Technologies Acquires CloudGavel

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November 13, 2025 · 4:15 PM UTC

eXoZymes Announces Cell-Free Biomanufacturing Pioneer, Tyler Korman, As CSO & Amy Lunzer as Chief of Staff

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November 11, 2025 · 9:17 AM UTC

Tyler Technologies Recognizes 2025 Veterans Service Officers Excellence Award Winners

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November 5, 2025 · 9:17 AM UTC

Tyler Technologies to Participate in November and December Investor Conferences

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