Tyler Technologies, Inc. · NYSE:TYL
Tyler Technologies — Q4 2025 Earnings Presentation
24 slides from Tyler Technologies's earnings presentation, Feb 12, 2026
Slide 1: 2025 Fourth Quarter Earnings Review, 2026 Annual Guidance
2025 Fourth Quarter Earnings Review 2026 Annual Guidance February 12, 2026
Slide 2: Statement Regarding Use of Non-GAAP Measures
Statement Regarding Use of Non-GAAP Measures Tyler Technologies has provided in this press release financial measures that have not been prepared in accordance with generally accepted accounting principles (GAAP) and are therefore considered non-GAAP financial measures. This information includes non
Slide 3: Forward-Looking Statements
Forward-Looking Statements This document contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical in nature and typically address future or anticipated events, trends, expectat
Slide 4: The Leader in Software Solutions to the Public Sector
The Leader in Software Solutions to the Public Sector T Y L E R A T A G L A N C E 1 M ARKET 87% RECURRI NG 26.6% F REE CASH F L OW 98% GROSS CL I ENT POSI TI ON REVENUES 2 0 2 5 M ARGI N 2 0 2 5 RETENTI ON 2 0 2 5 R E V E N U E B R E A K D O W N ERP / PLATFORM COURTS & PUBLIC K-12 APPRAISAL & CIVIC
Slide 5: Tyler 2030 | Pillars of Growth
Tyler 2030 | Pillars of Growth Leveraging Expanding Completing Growing Our Strong Into New Our Cloud Our Payments Client Base Markets Transition Business Goals: Grow revenues, expand margins, and invest in our people & tools 5
Slide 6: Q4 2025 Summary
Q4 2025 Summary
Slide 7: Fourth Quarter Results
Fourth Quarter Results A R R & F R E E C A S H F L O W E X C E E D E X P E C T A T I O N S Revenues Free Cash Flow1 Non-GAAP Operating Margin1 Total Revenues $575.2M, up 6.3% $236.9M, up 9.7% 24.1%, down 30 bps Excluding non-cash loss reserve, total revenue up 8% Impact of non-cash loss reserve is 1
Slide 8: Fourth Quarter Results: Key Highlights
Fourth Quarter Results K E Y H I G H L I G H T S Stable public sector market Healthy public sector budgets primarily reflectedHealthy in strong public leading sector demanddemand funded by property taxes – a stable funding Elevated sales activity indicators source underlying long-term demand; indica
Slide 9: Strong Recurring Revenue Growth
Strong Recurring Revenue Growth Total Revenues Recurring Revenues $575.2M $514.4M • Recurring revenues up 10.9% % of Total Revenues YoY Growth • Subscriptions rose 16.1% $208.3M SaaS Revenues +20.2% o SaaS revenues grew 20.2% Recurring o Transaction revenues increased 12.1%, driven by 89.4% higher t
Slide 10: Notable Q4 Wins
Notable Q4 Wins AC C E L E R AT I N G SA A S M O M E N T U M New Software deals SaaS flips AI-Driven deals • Los Angeles County, CA • Thurston County, WA • Enterprise Permitting & Licensing • Resident Engagement • Enterprise Assessment Added Fire Prevention Mobile – largest FPM deal • • State of Wis
Slide 11: Notable Q4 Wins
Notable Q4 Wins State / Federal / Transactions Multi-Product / Cross-Sell wins • Maryland Administrative Office of the Courts • Major State Enterprise Client • Payments & Disbursements • Digital Motor Vehicle Titling, Transaction funded • Existing Enterprise Justice client • Tyler Cashiering, SaaS c
Slide 12: 2025 Annual Summary
2025 Annual Summary
Slide 13: Strong Annual Recurring Revenue Growth
Strong Annual Recurring Revenue Growth Total Revenues Recurring Revenues • Total revenues up 9.1% $2.33B $2.03B • Excluding non-cash loss reserve, up 9.6% % of Total Revenues YoY Growth • Recurring revenues up 12.5% $777.8M SaaS Revenues +20.6% • Subscriptions rose 18.1% Recurring o SaaS revenues gr
Slide 14: Exceptional Trend of Cash Flow Generation
Exceptional Trend of Cash Flow Generation Cash From Operations Free Cash Flow $700M $654M $625M $621M $600M $500M $575M $400M $372M $381M $380M $355M $300M $255M $331M $327M $327M $200M $316M $213M $100M $0M 2019 2020 2021 2022 2023 2024 2025 14
Slide 15: 2026 Annual Guidance
2026 Annual Guidance
Slide 16: 2026 Annual Guidance
2026 Annual Guidance E X E C U T I N G LO N G -T E R M G R O W T H A N D C LO U D - F I R ST ST R AT E GY REVENUE DRIVERS Guidance midpoint implies growth of approx. 8.3% Total Revenues • Excluding impact of Texas payments contract termination, midpoint implies 10.0% $2.50B - $2.55B Revenue range pe
Slide 17: 2026 Annual Guidance
2026 Annual Guidance Diluted EPS - GAAP Diluted EPS - Non-GAAP $12.40 - $12.65 $11.31 $8.36 - $8.61 $7.20 2025 2026 Guidance 2025 2026 Guidance Free Cash Flow Margin R&D Expense - GAAP 26.6% 26% -28% $242M - $247M $204.6M 2025 2026 Guidance 2025 2026 Guidance Most recent 2025 guidance provided on 2/
Slide 18: Tyler's AI Commitment
Tyler’s AI Commitment
Slide 19: Tyler's AI Commitment
Tyler’s AI Commitment BU I LT O N FO U N DATI ONAL PR I N C I PLE S Built on foundational Governed with strong Strengthened with principles oversight deep partnerships Secure & private AI governance committee AWS + Anthropic Auditable & transparent GenAI-specific guardrails and Azure + Open AI prote
Slide 20: Tyler has the foundational elements to succeed
Tyler has the foundational elements to succeed W H Y W E W I N + + + Data Expertise Tyler AI Trust Produced daily by over From decades of public Internal & partnerships Clients trust us to lead 15,000 clients sector experience with Microsoft + OpenAI + managing complex workflows AWS + Anthropic
Slide 21: Appendix
Appendix
Slide 22: Non-GAAP Measures
Non-GAAP Measures THE TABLE RECONCILES THE NON-GAAP MEASURES USED IN THIS PRESENTATION GAAP 22
Slide 23: Non-GAAP Measures
Non-GAAP Measures THE TABLE RECONCILES THE NON-GAAP MEASURES USED IN THIS PRESENTATION GAAP 23
Slide 24: tylertech.com
“>. tyler Empowering people who serve the public” "ey eo eo y technologies tylertech.com f X in©Q o