Tyler Technologies (TYL) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Tyler Technologies (TYL) reported $494.68 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 4.5%. EPS of $2.14 for the same period compares to $2.06 a year ago.
The reported revenue represents a surprise of -0.16% over the Zacks Consensus Estimate of $495.47 million. With the consensus EPS estimate being $1.97, the EPS surprise was +8.63%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Tyler Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Annualized Recurring Revenues (ARR): $1.65 million compared to the $1.65 million average estimate based on three analysts.
Revenue- Maintenance: $117.48 million versus $115.32 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
Revenue- Professional services: $61.13 million versus $65.25 million estimated by six analysts on average.
Revenue- Subscriptions: $295.19 million versus the six-analyst average estimate of $292.68 million. The reported number represents a year-over-year change of +16.1%.
Revenue- Hardware and other: $10.33 million versus $9.73 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +9.7% change.
Revenue- Software licenses and royalties: $10.55 million versus the six-analyst average estimate of $12.49 million. The reported number represents a year-over-year change of -47.9%.
Revenue- Recurring: $412.67 million versus the five-analyst average estimate of $408.29 million.
Revenue- Non-Recurring: $82.01 million versus $87.44 million estimated by five analysts on average.
Gross profit- Hardware and other: $3.83 million versus $2.53 million estimated by three analysts on average.
Gross profit- Software licenses and royalties: $7.43 million versus the three-analyst average estimate of $7.77 million.
View all Key Company Metrics for Tyler Technologies here>>>
Shares of Tyler Technologies have returned -2.1% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Tyler Technologies, Inc. (TYL) : Free Stock Analysis Report
