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Tyler Technologies (TYL) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, Tyler Technologies (TYL - Free Report) reported revenue of $504.28 million, up 7.6% over the same period last year. EPS came in at $2.01, compared to $1.88 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $490.65 million, representing a surprise of +2.78%. The company delivered an EPS surprise of +8.06%, with the consensus EPS estimate being $1.86.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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): $1.66 million versus the two-analyst average estimate of $1.63 million.
Revenue- Subscriptions: $297.79 million versus the four-analyst average estimate of $290.61 million. The reported number represents a year-over-year change of +16.4%.
Revenue- Maintenance: $116.54 million versus the four-analyst average estimate of $114.07 million. The reported number represents a year-over-year change of -0.2%.
Revenue- Professional services: $66.42 million versus $66.49 million estimated by four analysts on average.
Revenue- Software licenses and royalties: $9.78 million compared to the $9.30 million average estimate based on four analysts. The reported number represents a change of -34.9% year over year.
Revenue- Hardware and other: $13.75 million versus the four-analyst average estimate of $10.15 million. The reported number represents a year-over-year change of +51%.
Revenue- Recurring: $414.33 million versus the three-analyst average estimate of $403.13 million.
Revenue- Non-Recurring: $89.95 million versus the three-analyst average estimate of $87.20 million.
Gross profit- Hardware and other: $2.69 million versus the two-analyst average estimate of $2.64 million.
Shares of Tyler Technologies have returned +0.1% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Tyler Technologies (TYL) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Tyler Technologies (TYL - Free Report) reported revenue of $504.28 million, up 7.6% over the same period last year. EPS came in at $2.01, compared to $1.88 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $490.65 million, representing a surprise of +2.78%. The company delivered an EPS surprise of +8.06%, with the consensus EPS estimate being $1.86.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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): $1.66 million versus the two-analyst average estimate of $1.63 million.
- Revenue- Subscriptions: $297.79 million versus the four-analyst average estimate of $290.61 million. The reported number represents a year-over-year change of +16.4%.
- Revenue- Maintenance: $116.54 million versus the four-analyst average estimate of $114.07 million. The reported number represents a year-over-year change of -0.2%.
- Revenue- Professional services: $66.42 million versus $66.49 million estimated by four analysts on average.
- Revenue- Software licenses and royalties: $9.78 million compared to the $9.30 million average estimate based on four analysts. The reported number represents a change of -34.9% year over year.
- Revenue- Hardware and other: $13.75 million versus the four-analyst average estimate of $10.15 million. The reported number represents a year-over-year change of +51%.
- Revenue- Recurring: $414.33 million versus the three-analyst average estimate of $403.13 million.
- Revenue- Non-Recurring: $89.95 million versus the three-analyst average estimate of $87.20 million.
- Gross profit- Hardware and other: $2.69 million versus the two-analyst average estimate of $2.64 million.
View all Key Company Metrics for Tyler Technologies here>>>Shares of Tyler Technologies have returned +0.1% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.