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Tyler Technologies beats quarterly revenue estimates on strong demand for IT services
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Tyler Technologies beats quarterly revenue estimates on strong demand for IT services
Feb 12, 2025 2:40 PM

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.

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