Here's What Key Metrics Tell Us About Tyler Technologies (TYL) Q1 Earnings

For the quarter ended March 2023, Tyler Technologies (TYL) reported revenue of $471.85 million, up 3.5% over the same period last year. EPS came in at $1.76, compared to $1.90 in the year-ago quarter.

The reported revenue represents a surprise of -0.38% over the Zacks Consensus Estimate of $473.66 million. With the consensus EPS estimate being $1.71, the EPS surprise was +2.92%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Tyler Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue- Software licenses and royalties: $10.13 million versus $9.69 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -38.6% change.

• Revenue- Subscriptions: $280.47 million compared to the $276.29 million average estimate based on four analysts. The reported number represents a change of +14.3% year over year.

• Revenue- Hardware and other: $5.20 million versus $7.17 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -26.9% change.

• Revenue- Maintenance: $115.13 million versus the four-analyst average estimate of $114.93 million. The reported number represents a year-over-year change of -1.6%.

• Revenue- Professional/Software services: $60.93 million versus the four-analyst average estimate of $56.46 million. The reported number represents a year-over-year change of -0.9%.

View all Key Company Metrics for Tyler Technologies here>>>

Shares of Tyler Technologies have returned +12.2% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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