- Tyler Technologies press release (NYSE:TYL): Q1 Non-GAAP EPS of $2.20 beats by $0.20.
- Revenue of $512.4M (+8.6% Y/Y) beats by $4.45M.
- Recurring revenues from maintenance and subscriptions were $430.5 million, up 8.8%, and comprised 84.0% of total revenues, up from 83.8%. On an organic basis, recurring revenues grew 8.2%.
- Subscription revenues were $313.2 million, up 11.7%. On an organic basis, subscription revenues grew 11.4%.
- Within subscriptions: SaaS revenues grew 22.0% to $148.8 million.
- On an organic basis, SaaS revenues grew 21.3%.
- Transaction-based revenues grew 3.7% on an organic basis to $164.5 million.
- SaaS arrangements comprised approximately 93% of the total new software contract value, up from approximately 87%.
- Annualized recurring revenue (ARR) was $1.72 billion, up 8.8%.
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