Slide 1: 2024 Fourth Quarter Earnings Review, 2025 Annual Guidance
2024 Fourth Quarter Earnings Review 2025 Annual Guidance Tyler Technologies | February 13, 2025
Slide 2: Statement Regarding Use of Non-GAAP Measures
Statement Regarding Use of Non-GAAP Measures Tyler Technologies has provided in this presentation 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 AT A G L A N C E 1 MARKET 85% RECURRING 26.9% FREE CASH FLO W 98% GROSS CLIENT PO SIT IO N REVENUES 2024 MARG IN 2024 RET ENT ION 2 0 2 4 R E V E N U E B R E A K D O W N ERP / PLATFORM COURTS & PUBLIC K-12 APPRAISAL & CIVIC OTHER FINANC
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 2024 Summary
Q4 2024 Summary © Tyler Technologies 2025 2S
Slide 7: Fourth Quarter Results
Fourth Quarter Results C O N T I N U E D S T R O N G P E R F O R M A N C E A C R O S S K E Y M E T R I C S Revenues Non-GAAP Earnings1 Non-GAAP Operating Margin1 Total Revenues $541.1M, up 12.5% $2.43 EPS, up 28.6% 24.4%, up 210 bps (organic growth of 12.4%) SaaS Revenues $173.4M, up 23% ARR $1.86B,
Slide 8: Fourth Quarter Results: Key Highlights
Fourth Quarter Results K E Y H I G H L I G H T S HealthyyHealthy public c sector public r demand, sector demand , Executing g enhanced d go-to-markett Elevated sales activity with elevated sales indicators indicators in strategy,, driving higher cross-sell and RFP pipeline and demo trends RFP and de
Slide 9: Strong Recurring Revenue Growth
Strong Recurring Revenue Growth Total Revenues Recurring Revenues • Recurring revenues up 14.9% % (14.9% % organic) $541.1M $463.9M % of Total Revenues YoY Growth • Subscriptions rose e 21.9% % (21.8% % organic)) $173.4M SaaS Revenues +23.0% o SaaS revenues grew 23.0% % (22.8%% organic),, marking th
Slide 10: Q4 2024 Strong Performance Across Key Metrics
Q4 2024 Strong Performance Across Key Metrics Total Revenues Recurring Revenues Diluted EPS1 Adjusted EBITDA1 $541.1M $463.9M GAAP $1.49 $142.8M +63.7% +21.0% +12.5% +14.9% +12.4% organic Non-GAAP $2.43 +14.9 organic +28.6% Cash from Operations* Free Cash Flow*1 Gross Margin1 Operating Margin1 $224.
Slide 11: Q4 2024 New Software Business Mix
Q4 2024 New Software Business Mix ACCELERATING SAAS ADOPTION WITH HIGHER CONTRACT VALUE # of New Software Deals # of Flips 179 177 87% 85% 156 150 106 92 SaaS 23 13% 27 15% 4Q23 4Q24 4Q23 4Q24 License Flip Contract Value New Software Contract Value $146.2M $116.2M $53.1M $141.2M 97% $103.0M 89% $33.
Slide 12: Q4 2024 New ARR
Q4 2024 New ARR ACCELERATING SAAS ADOPTION WITH HIGHER AVERAGE ARR New SaaS Total ARR New SaaS Avg ARR $24.7M $164.6K $15.8M $101.3K 4Q23 4Q24 4Q23 4Q24 Flips Total ARR Flips Avg ARR $17.1M $161.5K $11.3M $122.7K 12 4Q23 4Q24 4Q23 4Q24
Slide 13: Notable Q4 Wins
Notable Q4 Wins ACCELERATING SAAS ADOPTION AND FLIPS New SaaS deals New SaaS deals Large SaaS flips • Southwestt Regionall • State e off Maine • Tarrantt County,, TX Communicationss Center • Resident Engagement Portal • Enterprise Jury • A Texas 911 Consortium in the DFW • Strong references from oth
Slide 14: Notable Q4 Wins
Notable Q4 Wins Cross-sell synergies Multi-product wins State & Federal • Utah h State e Enterprise e 2-yearr extension • Nebraska a State e Patrol • Cityy off Kenosha,, WI • Enterprise Portal extension • Enterprise Public Safety + Digital Solutions • Joint effort across Public Admin Group • Digital
Slide 15: 2024 Annual Summary
2024 Annual Summary
Slide 16: Strong Recurring Revenue Growth
Strong Recurring Revenue Growth Total Revenues Recurring Revenues • Recurring revenues up 11.1% % (10.7 7 % organic) $2.138B $1.806B % of Total Revenue YoY Growth • Subscriptions rose e 15.8% % (15.6% % with h organic) $644.8M SaaS Revenues o SaaS revenues grew 22.1% % (21.6% % organic) +22.1% o Tra
Slide 17: 2024 Strong Performance Across Key Metrics
2024 Strong Performance Across Key Metrics Total Revenues Recurring Revenues Diluted EPS1 Adjusted EBITDA $2.138B $1.806B GAAP $6.05 $567.8M +55.9% +9.5% +11.1% +16.6% +9.0% organic +10.7% organic Non-GAAP $9.55 +22.4% Cash from Operations* Free Cash Flow* Gross Margin1 Operating Margin1 $624.6M $57
Slide 18: Annual 2024 New Software Business Mix
Annual 2024 New Software Business Mix # of New Software Deals # of Flips 835 765 632 83% 734 88% 415 338 SaaS 133 17% 101 12% License 2023 2024 2023 2024 New Software Contract Value Flip Contract Value $408.2M $345.3M $393.1M 96% $153.6M $293.7M 85% $91.9M $51.6M 15% (70.6)% 4% $15.1M 2023 2024 2023
Slide 19: 2024 Annual New ARR
2024 Annual New ARR Higher Average ARR New SaaS Total ARR New SaaS Avg ARR $72.5M $98.8K $80.8K $51.1M 2023 2024 2023 2024 Flips Total ARR Flips Avg ARR $53.0M $127.7K $101.1K $34.2M 2023 2024 2023 2024 19
Slide 20: Executed Key Initiatives in Our Cloud Transition
Executed Key Initiatives in Our Cloud Transition 9 Launched cloud optimized releases across many of our flagship products, driving an accelerated pace of client migrations with more flips of larger clients taking place 97% 9 Solid progress toward version consolidation 83% 85% 71% 9 Tracking well aga
Slide 21: Strong Cash Flow Generation
Strong Cash Flow Generation Cash From Operations Free Cash Flow $700M $625M $600M $500M $575M $372M $381M $380M $400M $355M $300M $255M $331M $327M $327M $200M $316M $213M $100M $0M 2019 2020 2021 2022 2023 2024 Note: Cash flow was positively impacted by $29 million SaaS prepayment in Oct. 2024 rela
Slide 22: Healthy Balance Sheet with Strong Cash Flow
Healthy Balance Sheet with Strong Cash Flow Cash Exceeds Outstanding Debt Repaid d $1.2B B off term m debtt since e NIC C acquisition n in n Aprill 2021 $1,400M $1.355B Net Leverage Nett leverage e iss zero o ass cash h exceedss outstanding g debt 2.07x $1,200M $955B Net Leverage $875B $875M 2.07x $
Slide 23: 2025 Annual Guidance
2025 Annual Guidance
Slide 24: 2025 Annual Guidance
2025 Annual Guidance EXECUTING LONG-TERM GROWTH AND CLOUD-FIRST STRATEGY R E V E N U E D R I V E R S Guidance midpoint implies growth of approx. 8.5% Totall Revenues Revenue range percentage growth expectations: $2.30B - $2.34B • Subscriptions growth of 15 - 18% $2.14B • SaaS growth of 21 - 24% • Tr
Slide 25: 2025 Annual Guidance
2025 Annual Guidance Diluted EPS - GAAP Diluted EPS - Non-GAAP $10.90 - $11.15 $7.31 - $7.56 $9.55 $6.05 2024 2025 Guidance 2024 2025 Guidance Free Cash Flow Margin R&D Expense 26.9% $177.0 - $182.0M 24% -26% $117.9M Most recent 2025 guidance provided on 2/12/25 2024 2025 Guidance 2024 2025 Guidance
Slide 26: Appendix
Appendix
Slide 27: Non-GAAP Measures
Non-GAAP Measures THE TABLE RECONCILES THE NON-GAAP MEASURES USED IN THIS PRESENTATION GAAP 27
Slide 28: Non-GAAP Measures
Non-GAAP Measures THE TABLE RECONCILES THE NON-GAAP MEASURES USED IN THIS PRESENTATION GAAP 28
Slide 29: tylertech.com
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