Feb 12 (Reuters) - Tyler Technologies ( TYL ) surpassed
Wall Street's fourth-quarter revenue expectations, driven by
strong demand for its IT services.
The shift of clients from on-premises data systems to
cloud-based solutions, along with the company's expansion into
new markets, are key drivers of Tyler Technologies' ( TYL ) revenue
growth.
Tyler Technologies ( TYL ) posted revenue of $541.1 million for the
quarter ended December 31, beating analysts' average estimate of
$540.5 million, according to data compiled by LSEG data.
Tyler offers IT services and software designed to streamline
data processing and enhance workflow for public sector
organizations.
"Public sector market conditions remain strong with robust
demand supported by healthy budgets and a growing focus on
digital modernization," CEO Lynn Moore said.
The IT-solution provider's subscription revenue rose 21.9%
to $348.8 million during the fourth quarter compared to a year
earlier.
The Plano, Texas-based company forecast its full-year
adjusted profit per share to be between $10.90 and $11.15,
compared to analysts' estimates of $10.79.
It forecast full-year 2025 revenue in the range of $2.30
billion to $2.34 billion, with a midpoint below analysts'
estimates of $2.36 billion.