Tyler Technologies Inc
TYL.US Full Coverage
Last updated:
Volume
52W avg
Day Range
52W High
52W Low
Market Cap
Div Yield
Forward P/E
P/B
Headlines
FY2026 Q1
Management raised FY 2026 revenue guidance to $2.535‑$2.575 billion, highlighting a $30 million revenue contribution from the For The Record acquisition and a “strong rebound” in bookings. In Q1, revenue reached $613.5 million (+8.6% YoY) as SaaS sales jumped 23.5% for the 21st consecutive quarter above 20%, free cash flow more than doubled to $102.8 million, and the company repaid $600 million of convertible debt while repurchasing $250 million of shares.
Total Revenues
$613.5M
+8.6% YoY
SaaS Revenues
$222.4M
+23.5% YoY
Free Cash Flow
$102.8M
+112.8% YoY
Non-GAAP Operating Margin
27.2%
+40 bps YoY
FY 2026 Revenue Guidance
$2.535B – $2.575B
Raised
What We're Watching
Strategic
Integration and Performance of For The Record (FTR)
📅
Ongoing
What to Monitor
Monitor early revenue contribution against the guided ~$30M for FY2026. Track commentary on cross-sell pipeline development and progress on FTR’s internal SaaS transition.
Why It Matters
FTR is the company’s third-largest acquisition and is central to its strategy of entering faster-growing markets. Successful integration is crucial to validating the M&A thesis and realizing the projected $1B+ TAM for "judicial intelligence."
Opportunity
Initial Monetization of AI Use Cases
📅
Next 2-3 Quarters
What to Monitor
Track specific customer wins and revenue uplift examples for the initial 40-50 AI use cases. Monitor deal sizes and the conversion of strong client interest into signed contracts.
Why It Matters
Early wins, like the Miami-Dade deal that converted a ~$250k maintenance contract to an $800k SaaS deal, are critical proof points that validate the ROI for clients and the company’s ability to monetize its significant AI investments.
Strategic
Execution of "Cloud Moving" Initiative (Single Code Stream)
📅
Q2 2026 & Beyond
What to Monitor
Look for updates following the June Investor Day on the timeline and key milestones for migrating products to a single code stream. Note which product segments are furthest along.
Why It Matters
Management has identified this as "Phase 2" of the cloud transition and the primary lever for achieving significant long-term leverage in cloud gross margins, which is critical for hitting the 2030 financial targets.
Operational
Pace of Opportunistic Share Repurchases
📅
Ongoing
What to Monitor
Monitor the pace of buybacks against the remaining ~$650 million authorization. Track the total number of shares repurchased and the average price paid each quarter.
Why It Matters
Management has been aggressive, repurchasing 2.5% of outstanding shares year-to-date. Continued opportunistic buybacks signal strong confidence in the stock’s value and the company’s multi-year free cash flow trajectory.
Opportunity
Momentum in State & Federal Sales Initiatives
📅
Ongoing
What to Monitor
Assess progress in converting legacy NIC contracts to funded-solution models (from transaction-funded). Track new wins generated by the dedicated state sales team.
Why It Matters
This initiative is key to unlocking the full cross-sell potential of the NIC acquisition. Success would create a more predictable, high-value recurring revenue stream at the state level and validate a core tenet of the acquisition thesis.
