Tyler Technologies (TYL) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

July 27, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, and welcome to today's Tyler Technologies Second Quarter 2023 Conference Call. Your host for today's call is Lynn Moore, President and CEO of Tyler Technologies. [Operator Instructions]

As a reminder, this conference is being recorded today, July 27, 2023. I would like to turn the call over to Hala Elsherbini, Tyler's Senior Director of Investor Relations. Please go ahead.

Hala Elsherbini

Thank you, Colby, and welcome to our call. With me today is Lynn Moore, our President and Chief Executive Officer; and Brian Miller, our Chief Financial Officer. After I give the safe harbor statement, Lynn will have some additional comments on our quarter and then Brian will review the details of our results and provide an update to our annual guidance. Lynn will end with some additional comments, and then we'll take your questions.

During this conference call, management may make statements that provide information other than historical information and may include projections concerning the company's future results, future prospects, revenues, expenses and profits. Such statements are considered forward-looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties, which could cause actual results to differ materially from these projections.

We would refer you to our Form 10-K and other SEC filings for more information on those risks. Also, in our earnings release, we have included non-GAAP measures that we believe facilitate understanding of our results and comparisons with peers in the software industry. A reconciliation of GAAP to non-GAAP measures is provided in our earnings release. We've also posted on the Investor Relations section of our website under the Financials tab schedules with supplemental information, including information about our quarterly bookings, backlog and recurring revenues.

On the Events and Presentations tab, we posted an earnings summary slide deck to supplement our prepared remarks. Please note that all growth comparisons we make on the call today will relate to the corresponding period of last year unless we specify otherwise. Lynn?

Lynn Moore

Thanks, Hala. Tyler delivered exceptionally strong second quarter results that exceeded expectations across our key performance measures. We also reached a new milestone for total quarterly revenues surpassing the $500 million mark for the first time. Our results reflect a high level of execution and collaborative one Tyler approach across our organization that is the foundation of our long-term growth strategy.