Filing Flows › Tyler Technologies (TYL) › Q1 2025
Tyler Technologies (TYL) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 25, 2025
Tyler Technologies (TYL) reported revenue of $565M for the first quarter 2025 (Q1 2025), +10% from a year earlier and +4% from the quarter before. Operating margin was 15.8%, net earnings $81.1M (14.3% of revenue).
Tyler Technologies, Q1 2025: revenue $565M (+10% year over year), operating margin 15.8%, net earnings $81.1M, operating cash flow $56.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $565M | +4% | +10% |
| Gross profit | $267M | +13% | +19% |
| Operating profit | $89.2M | +24% | +33% |
| Net earnings | $81.1M | +24% | +50% |
| Operating cash flow | $56.2M | -75% | -22% |
| Free cash flow | $48.3M | — | -16% |
What changed
Revenue was $565.2M in Q1 2025, up 10% year over year and up 4% from the previous quarter. Subscription and Circulation was the largest line at 66% of revenue. Subscription and Circulation added $61.7M year over year (up 20%), 117% of the total change. Hardware and other declined 24%.
Gross margin was 47.3%, up 3.6 points from a year earlier. Operating profit was $89.2M, a 15.8% margin (up 2.7 points year over year). Of the extra revenue versus a year earlier, 42% reached operating profit, above the 13% margin then. Operating expenses grew 14% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+30%). Net earnings were $81.1M, up 50% year over year. The effective tax rate was 14.9%.
Operating cash flow was $56.2M (down 22% year over year), 69% of net earnings. Non-cash charges added back $34.6M of depreciation and amortization and $37.7M of share-based compensation. Working capital and other items used $97.2M. After investment in software development ($5.5M) and additions to property and equipment ($2.3M), free cash flow as the company reports it was $48.3M.
Questions
What was Tyler Technologies' revenue in the first quarter 2025?
Tyler Technologies (TYL) reported revenue of $565M for the first quarter 2025 (Q1 2025), +10% from a year earlier and +4% from the quarter before.
Was Tyler Technologies profitable in the first quarter 2025?
Operating profit was $89.2M (15.8% of revenue) and net earnings $81.1M.
Source: Tyler Technologies 10-Q on SEC EDGAR.