Tyler Technology Releases End-2019 Financial Results
Thursday, February 13, 2020 | Comments

Tyler Technology announced financial results for the fourth quarter and full year ended Dec. 31.

In the fourth quarter, total revenues were $288.8 million, up 19.4% from $242 million for the fourth quarter of 2018. Organic revenue growth was 10.6%. Recurring revenues from maintenance and subscriptions were $194 million, up 22.7% compared to the fourth quarter of 2018, and comprised 67.2% of fourth quarter 2019 revenues. Net income was $46.8 million up 48.3% compared with $31.6 million for the fourth quarter of 2018. Cash flows from operations were $76.2 million, up 7.5% compared to $70.9 million for the fourth quarter of 2018.

Full-year 2019 total revenues were $1.086 billion, up 16.2% from $935.3 million in 2018. Recurring revenues from maintenance and subscriptions were $726.7 million, up 20.1% compared with $605.1 million in 2018.

Net income was $146.5 million, down 0.6% compared with $147.5 million in 2018. Cash flows from operations were $254.7 million, up 1.8% compared with $250.2 million in 2018.

Tyler Technologies also provided guidance for the full-year 2020. GAAP total revenues are expected to be in the range of $1.204 billion to $1.224 billion. Research and development (R&D) expense is expected to be in the range of $92 million to $94 million.

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