tyl-20200729
0000860731false00008607312020-07-292020-07-29



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________
FORM 8-K
_____________________________________________

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

July 29, 2020 (July 29, 2020)
Date of Report (Date of earliest event reported)
_____________________________________________
TYLER TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
_____________________________________________

Delaware1-1048575-2303920
(State or other jurisdiction of incorporation organization)(Commission
File Number)
 (I.R.S. Employer Identification No.)

5101 TENNYSON PARKWAYPLANOTexas75024
 (Address of principal executive offices)(City)(State)(Zip code)

(972) 713-3700
(Registrant’s telephone number, including area code)

        Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)
Title of each classTrading symbol
Name of each exchange
on which registered
COMMON STOCK, $0.01 PAR VALUETYLNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

        


Item 2.02  Results of Operations and Financial Condition   
  
On July 29, 2020, Tyler Technologies, Inc. issued the earnings news release announcing results from operations and financial condition as of June 30, 2020, attached hereto as Exhibit 99.1, which news release is incorporated by reference herein.

Exhibit number
 Exhibit description
News Release issued by Tyler Technologies, Inc. dated July 29, 2020

        

        



SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



TYLER TECHNOLOGIES, INC.
/s/ Brian K. Miller 
July 29, 2020By:Brian K. Miller
Executive Vice President and Chief Financial
Officer (principal financial officer)










        










        
Document

Tyler Technologies Reports Earnings for Second Quarter 2020

Operating cash flows increased over 60% as operating income grew double-digits

PLANO, Texas – July 29, 2020 – Tyler Technologies, Inc. (NYSE: TYL) today announced financial results for the second quarter ended June 30, 2020.

Second Quarter 2020 Financial Highlights:

Total revenues were $271.1 million, down 1.5% from $275.1 million for the second quarter of 2019. Organic revenues declined by 1.9%. Non-GAAP total revenues were $271.3 million, down 2.4% from $278.0 million for the second quarter of 2019. Non-GAAP organic revenues declined by 2.8%.
Recurring revenues from maintenance and subscriptions were $202.4 million, up 12.3% from $180.2 million for the second quarter of 2019, and comprised 74.7% of second quarter 2020 revenue.
Operating income was $41.3 million, up 12.8% from $36.7 million for the second quarter of 2019. Non-GAAP operating income was $74.6 million, up 9.1% from $68.4 million for the second quarter of 2019.
Net income was $53.9 million, or $1.30 per diluted share, up 68.4% compared to $32.0 million, or $0.80 per diluted share, for the second quarter of 2019. Non-GAAP net income was $57.1 million, or $1.38 per diluted share, up 10.2% compared to $51.8 million, or $1.30 per diluted share, for the second quarter of 2019.
Cash flows from operations were $39.8 million, up 62.5% compared to $24.5 million for the second quarter of 2019.
Adjusted EBITDA was $80.7 million, up 8.2% compared to $74.6 million for the second quarter of 2019.
Software subscription arrangements comprised approximately 43% of the total new software contract value in the second quarter, compared to approximately 80% in the second quarter of 2019.
Total bookings were $309 million, down 31.6% compared to the second quarter of 2019. Subscription bookings in the second quarter added $9.2 million in annual recurring revenue.
Total backlog was $1.54 billion, up 7.4% from $1.43 billion at June 30, 2019. Software-related backlog (excluding appraisal services) was $1.51 billion, up 8.0% from $1.40 billion at June 30, 2019.

“We are very pleased with our execution during the second quarter in light of the extraordinary impact of the COVID-19 pandemic, with earnings that exceeded our expectations and extremely strong cash flow,” said Lynn Moore, Tyler’s president and chief executive officer. “Total revenues were approximately $35 million below our pre-COVID plan. As expected, recurring revenue growth remained strong, and subscription revenues grew 16.6%. However, some procurement processes encountered delays as clients focused on addressing COVID-19, which resulted in several decisions being pushed out of the quarter, affecting license revenue. In addition, professional services revenues declined as a result of delays in projects and the near-elimination of billable travel revenue. The cancellation of our Connect user conference also impacted revenues by more than $6 million.



Tyler Technologies Reports Earnings
For Second Quarter 2020
July 29, 2020
Page 2
"Our operating expenses in the quarter were also well below plan, with significant savings in commissions, travel, marketing, health claims and other employee-related costs. As a result, our non-GAAP operating margin expanded 290 basis points to 27.5%. Cash flow was very robust in the quarter, and we ended the quarter with $473 million in cash and investments. Cash flows from operations grew 62.5%, and free cash flow rose 226%. With our strong financial position, we continued to invest in strategic initiatives at a high level, resulting in a 9.2% increase in research and development expense for the quarter.
"As expected, bookings declined in the face of a difficult comparison to last year's second quarter, when we signed two very large SaaS deals, including an $85 million contract that was the largest in the company's history," added Moore. "Although we have not experienced meaningful cancellations, we continue to see longer sales cycles as a result of COVID-19. Nonetheless, our backlog at quarter-end rose 7.4% over last year to reach a new all-time high.
"I couldn't be prouder of how our team of 5,500 professionals are supporting each other, delivering exceptional client service and displaying the spirit of innovation that has long been a hallmark of Tyler's success. We're delivering solutions that help our clients cope with current challenges, from providing critical information regarding the pandemic to government leaders and citizens to enabling courts to conduct virtual hearings. While we remain confident in our long-term outlook, it is clear that the COVID-19 pandemic will continue to have a significant effect on our business in the second half of 2020, and that is reflected in our reinstituted annual guidance for 2020," concluded Moore.

Guidance for 2020
As of June 30, 2020, Tyler Technologies is providing the following guidance for the full year 2020:
GAAP total revenues are expected to be in the range of $1.124 billion to $1.144 billion. Non-GAAP total revenues are expected to be in the range of $1.125 billion and $1.145 billion.
GAAP diluted earnings per share are expected to be in the range of $4.71 to $4.91 and may vary significantly due to the impact of stock incentive awards on the GAAP effective tax rate, as well as final valuation of acquired intangibles.
Non-GAAP diluted earnings per share are expected to be in the range of $5.30 to $5.50.
Pre-tax non-cash, share-based compensation expense is expected to be approximately $79 million.
Research and development expense is expected to be in the range of $90 million to $92 million.
Fully diluted shares for the year are expected to be in the range of 41.5 million to 42.0 million shares.
GAAP earnings per share assumes an estimated annual effective tax rate of approximately negative 23% after discrete tax items and includes approximately $82 million of discrete tax benefits related to share-based compensation.
The non-GAAP annual effective tax rate is expected to be 24%.
Capital expenditures are expected to be in the range of $34 million to $35 million, including approximately $10 million related to real estate and approximately $6 million of capitalized software development costs. Total depreciation and amortization expense is expected to be approximately $81 million, including approximately $54 million from amortization of acquisition intangibles.




Tyler Technologies Reports Earnings
For Second Quarter 2020
July 29, 2020
Page 3
GAAP to non-GAAP guidance reconciliation

Non-GAAP total revenues is derived from adding back the estimated full year impact of write-downs of acquisition-related deferred revenue and amortization of acquired leases of approximately $1 million. Non-GAAP diluted earnings per share excludes the full year impact of non-cash share-based compensation expense and employer portion of payroll tax related to employee stock transactions of approximately $79 million, and amortization of acquired software and intangible assets of approximately $54 million. Additionally, the non-GAAP tax rate of 24% is estimated periodically as described below under "Non-GAAP Financial Measures" and excludes approximately $82 million of estimated discrete tax benefits that are included in the GAAP estimated annual effective tax rate.

Conference Call

Tyler Technologies will hold a conference call on Thursday, July 30, at 10:00 a.m. Eastern Time to discuss the company’s results. The company is offering participants the opportunity to register in advance for the conference through the following link: http://dpregister.com/10145197. Registered participants will receive an email with a calendar reminder and a dial-in number and PIN that will allow them to listen to the call live.

Participants who do not wish to pre-register for the call may dial in using 844-861-5506 (U.S. callers) or 412-317-6587 (international callers) or 866-450-4696 (Canada callers) and ask for the “Tyler Technologies” call. A replay will be available two hours after completion of the call through August 7, 2020. To access the replay, please dial 877-344-7529 (U.S. callers), 412-317-0088 (international callers) and 855-669-9658 (Canada callers) and reference passcode 10145197.

The live webcast and archived replay can also be accessed at https://tylertech.irpass.com/Presentations.


About Tyler Technologies, Inc.

Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler's end-to-end solutions empower local, state, and federal government entities to operate more efficiently and connect more transparently with their constituents and with each other. By connecting data and processes across disparate systems, Tyler's solutions are transforming how clients gain actionable insights that solve problems in their communities. Tyler has more than 26,000 successful installations across more than 10,000 sites, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler was named to Forbes' "Best Midsize Employers" list in 2019 and has been recognized three times on Forbes' "Most Innovative Growth Companies" list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.


Non-GAAP Financial Measures

Tyler Technologies has provided in this press release 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-GAAP revenues, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, non-



Tyler Technologies Reports Earnings
For Second Quarter 2020
July 29, 2020
Page 4
GAAP earnings per diluted share, EBITDA, and adjusted EBITDA. We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating Tyler’s ongoing operational performance because they provide additional insight in comparing results from period to period. Tyler believes the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures. Non-GAAP financial measures discussed above exclude write-downs of acquisition-related deferred revenue and acquired subleases, share-based compensation expense, employer portion of payroll taxes on employee stock transactions, expenses associated with amortization of intangibles arising from business combinations, acquisition-related expenses, and incremental costs associated with COVID-19.

Tyler currently uses a non-GAAP tax rate of 24%. This rate is based on Tyler's estimated annual GAAP income tax rate forecast, adjusted to account for items excluded from GAAP income in calculating Tyler's non-GAAP income, as well as significant non-recurring tax adjustments. The non-GAAP tax rate used in future periods will be reviewed periodically to determine whether it remains appropriate in consideration of factors including Tyler's periodic effective tax rate calculated in accordance with GAAP, changes resulting from tax legislation, changes in the geographic mix of revenues and expenses, and other factors deemed significant. Due to differences in tax treatment of items excluded from non-GAAP earnings, as well as the methodology applied to Tyler's estimated annual tax rate as described above, the estimated tax rate on non-GAAP income may differ from the GAAP tax rate and from Tyler's actual tax liabilities.

Non-GAAP financial measures should be considered in addition to, and not as a substitute for, or superior to, financial information prepared in accordance with GAAP. The non-GAAP measures used by Tyler Technologies may be different from non-GAAP measures used by other companies. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which has been provided in the financial statement tables included below in this press release.

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, expectations or beliefs with respect to our financial condition, results of operations or business. Forward-looking statements often contain words such as “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates,” “plans,” “intends,” “continues,” “may,” “will,” “should,” “projects,” “might,” “could” or other similar words or phrases. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. We believe there is a reasonable basis for our forward-looking statements, but they are inherently subject to risks and uncertainties and actual results could differ materially from the expectations and beliefs reflected in the forward-looking statements. We presently consider the following to be among the important factors that could cause actual results to differ materially from our expectations and beliefs: (1) the effects of the COVID-19 pandemic, including its potential effects on the economic environment, our customers and our operations, as well as any changes to federal, state or local government laws, regulations or orders in connection with the pandemic; (2) changes in the budgets or regulatory environments of our clients, primarily local and state governments, that could negatively impact information technology spending; (3) our ability to protect client information from security breaches and provide uninterrupted operations of data centers; (4) our ability to achieve growth or operational synergies through the integration of acquired businesses, while avoiding unanticipated costs and disruptions to existing operations; (5) material portions of our business



Tyler Technologies Reports Earnings
For Second Quarter 2020
July 29, 2020
Page 5
require the Internet infrastructure to be adequately maintained; (6) our ability to achieve our financial forecasts due to various factors, including project delays by our clients, reductions in transaction size, fewer transactions, delays in delivery of new products or releases or a decline in our renewal rates for service agreements; (7) general economic, political and market conditions; (8) technological and market risks associated with the development of new products or services or of new versions of existing or acquired products or services; (9) competition in the industry in which we conduct business and the impact of competition on pricing, client retention and pressure for new products or services; (10) the ability to attract and retain qualified personnel and dealing with the loss or retirement of key members of management or other key personnel; and (11) costs of compliance and any failure to comply with government and stock exchange regulations. These factors and other risks that affect our business are described in our filings with the Securities and Exchange Commission, including the detailed “Risk Factors” contained in our most recent annual report on Form 10-K. We expressly disclaim any obligation to publicly update or revise our forward-looking statements.

(Comparative results follow)

Contact: Brian K. Miller
Executive Vice President & CFO
Tyler Technologies, Inc.
972-713-3720
brian.miller@tylertech.com

20-38




TYLER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share data)
(Unaudited)



Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Software licenses and royalties$17,025  $20,675  $35,762  $42,468  
Subscriptions85,638  73,475  167,361  140,750  
Software services43,654  57,401  95,787  105,844  
Maintenance116,760  106,689  231,125  206,841  
Appraisal services4,696  6,233  10,459  11,447  
Hardware and other3,318  10,651  7,138  14,840  
Total revenues271,091  275,124  547,632  522,190  
Software licenses and royalties1,130  891  1,870  1,709  
Acquired software8,006  7,988  16,033  14,670  
Subscriptions, software services and maintenance124,287  125,759  256,066  242,919  
Appraisal services3,976  3,758  8,361  7,210  
Hardware and other2,489  8,868  4,968  11,774  
Total cost of revenues139,888  147,264  287,298  278,282  
  Gross profit131,203  127,860  260,334  243,908  
Selling, general and administrative expenses62,521  65,827  130,006  123,593  
Research and development expense21,949  20,101  44,310  39,042  
Amortization of customer and trade name intangibles5,392  5,266  10,784  10,116  
  Operating income41,341  36,666  75,234  71,157  
Other income (expense), net470  (247) 1,460  339  
Income before income taxes41,811  36,419  76,694  71,496  
Income tax (benefit) provision(12,081) 4,420  (24,748) 12,149  
Net income$53,892  $31,999  $101,442  $59,347  
Earnings per common share:
   Basic$1.35  $0.83  $2.54  $1.54  
   Diluted$1.30  $0.80  $2.44  $1.49  
Weighted average common shares outstanding:
   Basic39,963  38,402  39,984  38,462  
   Diluted41,416  39,813  41,532  39,806  




TYLER TECHNOLOGIES, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Amounts in thousands, except per share data)
(Unaudited)
 


Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Reconciliation of non-GAAP total revenues
GAAP total revenues$271,091  $275,124  $547,632  $522,190  
Non-GAAP adjustments:
  Add: Write-downs of acquisition-related deferred revenue160  2,757  320  4,354  
  Add: Amortization of acquired leases78  100  157  200  
Non-GAAP total revenues$271,329  $277,981  $548,109  $526,744  
Reconciliation of non-GAAP gross profit and margin
GAAP gross profit$131,203  $127,860  $260,334  $243,908  
Non-GAAP adjustments:
  Add: Write-downs of acquisition-related deferred revenue160  2,757  320  4,354  
  Add: Amortization of acquired leases78  100  157  200  
  Add: Share-based compensation expense included in cost of revenues4,369  3,756  8,621  7,554  
  Add: Amortization of acquired software8,006  7,988  16,033  14,670  
Non-GAAP gross profit$143,816  $142,461  $285,465  $270,686  
GAAP gross margin48.4 %46.5 %47.5 %46.7 %
Non-GAAP gross margin53.0 %51.2 %52.1 %51.4 %
Reconciliation of non-GAAP operating income and margin
GAAP operating income$41,341  $36,666  $75,234  $71,157  
Non-GAAP adjustments:
  Add: Write-downs of acquisition-related deferred revenue160  2,757  320  4,354  
  Add: Amortization of acquired leases78  100  157  200  
  Add: Share-based compensation expense18,386  15,066  35,688  29,482  
  Add: Employer portion of payroll tax related to employee stock transactions1,259  308  2,457  431  
  Add: Acquisition related costs—  245  —  940  
  Add: COVID-19 incremental costs—  —  727  —  
  Add: Amortization of acquired software8,006  7,988  16,033  14,670  
  Add: Amortization of customer and trade name intangibles5,392  5,266  10,784  10,116  
Non-GAAP adjustments subtotal33,281  31,730  66,166  60,193  
Non-GAAP operating income$74,622  $68,396  $141,400  $131,350  
GAAP operating margin15.2 %13.3 %13.7 %13.6 %
Non-GAAP operating margin27.5 %24.6 %25.8 %24.9 %



TYLER TECHNOLOGIES, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Amounts in thousands, except per share data)
(Unaudited)
 

Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Reconciliation of non-GAAP net income and earnings per share
GAAP net income$53,892  $31,999  $101,442  $59,347  
Non-GAAP adjustments:
  Add: Total non-GAAP adjustments to operating income33,281  31,730  66,166  60,193  
  Less: Tax impact related to non-GAAP adjustments(30,103) (11,935) (59,034) (19,456) 
Non-GAAP net income$57,070  $51,794  $108,574  $100,084  
GAAP earnings per diluted share$1.30  $0.80  $2.44  $1.49  
Non-GAAP earnings per diluted share$1.38  $1.30  $2.61  $2.51  
Detail of share-based compensation expense
Cost of subscriptions, software services and maintenance$4,369  $3,756  $8,621  $7,554  
Selling, general and administrative expenses14,017  11,310  27,067  21,928  
Total share-based compensation expense$18,386  $15,066  $35,688  $29,482  
Reconciliation of EBITDA and adjusted EBITDA
GAAP net income$53,892  $31,999  $101,442  $59,347  
Amortization of customer and trade name intangibles5,392  5,266  10,784  10,116  
Depreciation and amortization included in
cost of revenues, SG&A and other expenses14,800  14,136  29,349  26,562  
Interest expense included in other income, net151  709  303  1,173  
Income tax (benefit) provision(12,081) 4,420  (24,748) 12,149  
EBITDA$62,154  $56,530  $117,130  $109,347  
Write-downs of acquisition-related deferred revenue160  2,757  320  4,354  
Share-based compensation expense18,386  15,066  35,688  29,482  
Acquisition related costs—  245  —  940  
COVID-19 incremental costs—  —  727  —  
Adjusted EBITDA$80,700  $74,598  $153,865  $144,123  



TYLER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
 (Unaudited)


June 30, 2020December 31, 2019
ASSETS
Current assets:
     Cash and cash equivalents$351,336  $232,682  
     Accounts receivable, net405,731  374,089  
     Current investments and other assets88,940  66,444  
     Income tax receivable27,935  6,482  
           Total current assets873,942  679,697  
Accounts receivable, long-term portion21,121  22,432  
Operating lease right-of-use assets16,659  18,992  
Property and equipment, net174,967  171,861  
Other assets:
     Goodwill840,028  840,117  
     Other intangibles, net354,115  378,914  
     Non-current investments and other assets101,764  79,601  
Total assets$2,382,596  $2,191,614  
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
     Accounts payable and accrued liabilities$65,008  $90,211  
Operating lease liabilities6,217  6,387  
     Deferred revenue423,037  412,495  
           Total current liabilities494,262  509,093  
Revolving line of credit—  —  
Deferred revenue, long-term167  199  
Deferred income taxes44,713  48,442  
Operating lease liabilities, long-term14,126  16,822  
Shareholders' equity1,829,328  1,617,058  
Total liabilities and shareholders' equity$2,382,596  $2,191,614  




TYLER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)

Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Cash flows from operating activities:
    Net income$53,892  $31,999  $101,442  $59,347  
    Adjustments to reconcile net income to cash
      provided by operations:
      Depreciation and amortization20,285  19,436  40,270  36,744  
      Share-based compensation expense18,386  15,066  35,688  29,482  
      Operating lease right-of-use assets expense1,386  1,386  2,843  2,551  
      Deferred income tax benefit(1,061) (2,655) (3,729) (7,440) 
      Changes in operating assets and liabilities,
      exclusive of effects of acquired companies(53,074) (40,735) (79,994) (72,230) 
Net cash provided by operating activities39,814  24,497  96,520  48,454  
Cash flows from investing activities:
Additions to property and equipment(6,919) (11,732) (16,268) (24,052) 
Purchase of marketable security investments(52,476) (6,527) (79,747) (10,117) 
Proceeds from marketable security investments21,783  19,412  40,020  39,688  
Proceeds from the sale of investment of preferred shares—  —  15,000  —  
Purchase of investment of common shares—  —  (10,000) —  
Investment in software(1,380) (1,542) (2,695) (2,232) 
Cost of acquisitions, net of cash acquired—  (90) (261) (199,220) 
(Increase) decrease in other(280) (132) (328) 432  
Net cash used by investing activities(39,272) (611) (54,279) (195,501) 
Cash flows from financing activities:
(Decrease) increase in net borrowings on revolving line of credit—  (70,000) —  15,000  
Purchase of treasury shares—  —  (15,482) (17,786) 
Proceeds from exercise of stock options46,101  15,604  92,337  22,132  
Payment of contingent consideration—  —  (5,619) —  
Contributions from employee stock purchase plan2,708  2,260  5,177  4,609  
Net cash provided (used) by financing activities48,809  (52,136) 76,413  23,955  
Net increase (decrease) in cash and cash equivalents49,351  (28,250) 118,654  (123,092) 
Cash and cash equivalents at beginning of period301,985  39,437  232,682  134,279  
Cash and cash equivalents at end of period$351,336  $11,187  $351,336  $11,187  



v3.20.2
Cover
Jul. 29, 2020
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jul. 29, 2020
Entity Registrant Name TYLER TECHNOLOGIES, INC
Entity Incorporation, State or Country Code DE
Entity File Number 1-10485
Entity Tax Identification Number 75-2303920
Entity Address, Address Line One 5101 TENNYSON PARKWAY
Entity Address, City or Town PLANO
Entity Address, State or Province TX
Entity Address, Postal Zip Code 75024
City Area Code 972
Local Phone Number 713-3700
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security COMMON STOCK, $0.01 PAR VALUE
Trading Symbol TYL
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000860731
Amendment Flag false