Tyler Technologies (TYL) FY2024 results: revenue $2.1 billion, up 9.5% on the year

Tyler Technologies Inc. (TYL) reported revenue of $2.1 billion for fiscal 2024, the year ended 31 December 2024, up 9.5% on the year before. Net income was $263 million, up 58.5%, and diluted earnings per share $6.05. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2025.

Revenue

$2.1 billion

+9.5% on the year

FY2017FY2024

Operating margin

14.0%

11.2% a year earlier

FY2017FY2024

Net income

$263 million

+58.5% on the year

FY2017FY2024

Diluted EPS

$6.05

+55.9% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,138	1,952	1,850	+9.5%
Cost of revenue	1,202	1,091	1,066	+10.2%
Gross profit	936	861	784	+8.7%
Gross margin	43.8%	44.1%	42.4%
Operating income	300	219	214	+37.1%
Operating margin	14.0%	11.2%	11.6%
Interest expense	5.9	23.6	28.4	-74.9%
Pre-tax income	308	198	188	+55.5%
Income tax	45.1	32.3	23.4	+39.7%
Effective tax rate	14.6%	16.3%	12.4%
Net income	263	166	164	+58.5%
Net margin	12.3%	8.5%	8.9%
Diluted EPS	$6.05	$3.88	$3.87	+55.9%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	625	380	381	+64.2%
Capital expenditure	20.5	20.5	22.5	+0.1%
Free cash flow	604	360	359	+67.8%
Free cash flow margin	28.3%	18.4%	19.4%
Cash from investing	-67.6	-77.0	-173
Cash from financing	22.2	-312	-344
Depreciation and amortisation	143	154	159	-6.9%
Share-based compensation	123	108	103	+13.4%
Buybacks	0.0	0.0	0.0
Diluted shares, weighted	43m	43m	42m	+1.7%
Shares outstanding at period end	48m	48m	48m	0.0%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	3,388	2,938	2,624	+15.3%
Debt	598	646	987	-7.4%
Operating lease liabilities	30.8	39.8	48.0	-22.7%
Other liabilities	1,163	1,053	1,028	+10.5%
Total liabilities and equity	5,180	4,677	4,687	+10.8%
Fixed assets	164	170	173	-3.5%
Goodwill	2,532	2,532	2,489	-0.0%
Intangible assets	832	929	1,002	-10.4%
Investments	34.0	17.4	55.5	+95.1%
Cash and equivalents	745	165	174	+350.0%
Receivables	588	620	577	-5.2%
Other assets	286	243	217	+17.6%
Total assets	5,180	4,677	4,687	+10.8%

10-K for the year ended 31 December 2024, filed 19 February 2025: the filing.