10-Q · April 29, 2026
Tyler Technologies' Q1 2026 results showed a healthy revenue growth of 9%, reaching $613.5 million, surpassing estimates. The company reported an EPS of $1.88 and highlighted significant increases in SaaS and…
Earnings analysis · 10-Q
TYL earnings analysis
Filed October 28, 2026 · Our reading of the company's report
The latest report
Tyler Technologies delivered a mixed quarter: non-GAAP EPS of $3.52 beat consensus by 5.7%, while revenue of $647.566 million missed by 0.7%. SaaS revenue grew 21.2% to $242.2 million and free cash flow reached $277.0…
Read full summary
Tyler Technologies delivered a mixed quarter: non-GAAP EPS of $3.52 beat consensus by 5.7%, while revenue of $647.566 million missed by 0.7%. SaaS revenue grew 21.2% to $242.2 million and free cash flow reached $277.0 million, but full-year revenue guidance was lowered to $2.535 billion-$2.565 billion. The balance sheet remains conservatively financed with no borrowings and $1.0 billion of available credit capacity, although substantial share repurchases and a $9.9 million excise tax reduced cash deployment flexibility.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.52
- Segment
- SaaS revenue: $242.2 million, up 21.2% year over year
What stood out
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EPS beat, revenue slightly missed
Reported non-GAAP diluted EPS of $3.52 versus the $3.33 estimate, a 5.7% beat. Revenue was $647.566 million versus the $651.808 million estimate, a 0.7% miss.
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SaaS growth remained strong
SaaS revenue increased 21.2% year over year to $242.2 million, supporting continued recurring-revenue growth.
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Record free cash flow
Free cash flow reached a reported $277.0 million, the highest level in the supplied quarterly history and materially above $119.0 million in the prior quarter.
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No revolver borrowings
The company had no borrowings under its 2026 Credit Agreement at September 30, 2026, while retaining $1.0 billion of available capacity.
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Aggressive share repurchases
The company repurchased $379.1 million of common stock during the quarter, including 1,148,389 shares under the authorized repurchase program.
What to watch
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Lower revenue outlook
Full-year revenue guidance was lowered to $2.535 billion-$2.565 billion from $2.540 billion-$2.580 billion, indicating slower expected top-line growth despite the EPS increase.
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Large buybacks consume cash
Quarterly share repurchases totaled $379.1 million, while corporate repurchases incurred $9.9 million of excise taxes under the Inflation Reduction Act, reducing cash available for other uses.
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Variable-rate debt exposure
Although there were no outstanding borrowings at September 30, 2026, any future revolver draws would bear interest at SOFR plus 1.125%-1.75% or prime plus 0.125%-0.75%, exposing financing costs to interest-rate movements.
Management's outlook
The provided 10-Q text does not include quantitative revenue or EPS guidance. Full-year outlook was discussed in the separate October 28, 2026 earnings release, not in the supplied filing text.
Earlier filings 4
10-K · February 18, 2026
Tyler Technologies reports continued SaaS migration and recurring revenue growth: ARR rose to $2.06 billion in 2025 (from $1.86 billion in 2024) and subscription-based revenues reached $1.6 billion in 2025. Total FY2025…
10-Q · October 29, 2025
Tyler reported a beat on both revenue and EPS for Q3 — revenue rose ~10% year-over-year and blended gross margin expanded to 47.2%. Growth was driven by subscriptions (subscriptions revenue $401,094,000, +16%) and…
10-Q · July 30, 2025
Tyler reported a beat: Q2 revenue of $596,117,000 (up 10% year-over-year) and ARR grew to $2.07 billion (up ~15% vs prior year). Blended gross margin expanded to 45.8% (from 44.0%) and operating margin improved to 16.0%…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.