Tyler Technologies reports Q2 adjusted EPS $2.91, consensus $2.78

Reports Q2 revenue $596.1M, consensus $587.59M. “Second quarter revenues, earnings, and cash flow again surpassed expectations as we continue to execute at a high level against each of the key pillars of our growth strategy,” said Lynn Moore, Tyler’s president and chief executive officer. “SaaS revenues grew 21.5%, marking our 18th consecutive quarter of SaaS growth of 20% or more. New transaction-based services and higher volumes drove transaction revenue growth of 21.3%. In addition, both gross and operating margins continue to expand, reflecting a positive shift in revenue mix, efficiency gains across our cloud operations, and favorable operating expense trends.”