Tyler Technologies(US:TYL) ZACKS·2024-10-23 23:01Core Insights - Tyler Technologies reported revenue of $543.34 million for the quarter ended September 2024, reflecting a year-over-year increase of 9.8% [1] - The company's EPS was $2.52, up from $2.14 in the same quarter last year, with an EPS surprise of +3.28% against a consensus estimate of $2.44 [1] Financial Performance Metrics - Annualized Recurring Revenues (ARR) reached $1.85 million, slightly above the estimated $1.83 million [2] - Subscription revenue was reported at $347.17 million, compared to the average estimate of $348.89 million, marking a year-over-year increase of 17.6% [2] - Professional services revenue was $64.46 million, below the estimate of $65.77 million, with a year-over-year change of +5.5% [2] - Hardware and other revenue was $9.93 million, slightly below the estimate of $10.04 million, representing a year-over-year decrease of 3.9% [2] - Maintenance revenue was $115.59 million, exceeding the estimate of $112.31 million, with a year-over-year change of -1.6% [2] - Software licenses and royalties revenue was reported at $6.19 million, significantly below the estimate of $9.42 million, reflecting a year-over-year decline of 41.4% [2] - Gross profit from hardware and other was $3.88 million, above the average estimate of $3.50 million [2] - Gross profit from software licenses and royalties was $4.32 million, below the average estimate of $6.33 million [2] Stock Performance - Over the past month, shares of Tyler Technologies have returned +0.1%, compared to a +2.7% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]