TYL FY 2022 Earnings Report — Tyler Technologies, Inc. Revenue & Financial Results | Market Cap Arena

Tyler Technologies, Inc.TYL

FY 2022 Earnings

Reported February 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.9B	—	$1.6B	—	16.2%
Op. Income	$216M	—	$206M	—	5.1%
Gross Margin	39.0%	—	41.8%	—	-2.7pp
Net Margin	8.9%	—	10.1%	—	-1.3pp
EPS (Diluted)	$3.87	—	$3.82	—	1.3%
Free Cash Flow	$331M	—	$316M	—	4.8%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.1B
GROSS PROFIT	$723M
R&D Expenses	$105M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$401M
Other Expenses	$0
Operating Expenses	$506M
Cost & Expenses	$1.6B
OPERATING INCOME	$216M
Interest Income	$2M
Interest Expense	$28M
Other Income/Expenses	-$29M
INCOME BEFORE TAX	$188M
Income Tax Expense	$23M
Net Income from Continuing Ops	$164M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$164M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$164M
D&A	$172M
EBIT	$216M
EBITDA	$388M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.1B
GROSS PROFIT	$723M
R&D Expenses	$105M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$401M
Other Expenses	$0
Operating Expenses	$506M
Cost & Expenses	$1.6B
OPERATING INCOME	$216M
Interest Income	$2M
Interest Expense	$28M
Other Income/Expenses	-$29M
INCOME BEFORE TAX	$188M
Income Tax Expense	$23M
Net Income from Continuing Ops	$164M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$164M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$164M
D&A	$172M
EBIT	$216M
EBITDA	$388M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$164M
Depreciation & Amortization	$159M
Stock-Based Compensation	$103M
Deferred Income Tax	-$87M
Other Non-Cash Items	$16M
Change in Working Capital	$27M
OPERATING CASH FLOW	$381M
Capital Expenditure	-$50M
Acquisitions (Net)	-$164M
Purchases of Investments	-$30M
Sales/Maturities of Investments	$71M
Other Investing Activities	$443.0K
NET CASH FROM INVESTING	-$173M
Net Debt Issuance	-$360M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$344M
FREE CASH FLOW	$331M
Net Change in Cash	-$135M

Balance Sheet

Item	Amount
Cash & Equivalents	$174M
Short-Term Investments	$37M
Net Receivables	$577M
Inventory	$0
Other Current Assets	$8M
TOTAL CURRENT ASSETS	$847M
PP&E (Net)	$224M
Goodwill	$2.5B
Intangible Assets	$1.1B
Long-Term Investments	$19M
Tax Assets	$0
Other Non-Current Assets	$58M
TOTAL NON-CURRENT ASSETS	$3.8B
TOTAL ASSETS	$4.7B
Account Payables	$105M
Short-Term Debt	$30M
Deferred Revenue	$569M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$890M
Long-Term Debt	$957M
Deferred Revenue NC	$2M
Deferred Tax Liabilities	$149M
Other Non-Current Liabilities	$17M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$2.1B
Common Stock	$481.0K
Additional Paid-In Capital	$1.2B
Retained Earnings	$1.4B
Treasury Stock	-$23M
Accum. Other Comp. Income	-$844.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$0
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$1.0B
Net Debt	$872M