Tyler Technologies Reports Earnings for Second Quarter 2019
Tyler Technologies, Inc. (NYSE: TYL), a major public sector software company based in Plano, Texas, today announced financial results for the second quarter ended June 30, 2019. Total revenues were $275.1 million, up 16.5% from $236.1 million for the second quarter of 2018. Organic revenue growth was 8.1%. Non-GAAP total revenues were $278.0 million, up 16.9% from $237.7 million for the second quarter of 2018. Non-GAAP organic revenue growth was 7.4%.
"We are pleased with our strong second quarter results as both revenue and bookings growth accelerated from the first quarter," said Lynn Moore, Tyler's president and chief executive officer. "Subscription revenues continue to pace our growth, with an increase of 38.6% over the second quarter of 2018. Our non-GAAP gross margin rose 90 basis points while our non-GAAP operating margin fell 150 basis points, as research and development expenses rose 27% over the second quarter of 2018, reflecting our high level of investment in products across the company.