Tyler Technologies reports Q3 adjusted EPS $2.14, consensus $1.99

Reports Q3 revenue $494.7M, consensus $495.85M. “Our third quarter earnings and cash flow surpassed expectations and reflect a continuation of solid execution on key operational initiatives,” said Lynn Moore, Tyler’s president and chief executive officer. “We achieved strong performance across our key metrics, with double-digit recurring revenue growth and free cash flow growth of more than 40%. We’re pleased that SaaS revenues grew 26% organically, exceeding our near-term SaaS growth expectations of a 20% CAGR outlined during our June Investor Day. This represents our 11th consecutive quarter of SaaS revenue growth of 20% or more. Additionally, operating margins exceeded our plan and we remain on track to return to operating margin expansion in 2024.”