Tyler Technologies, Inc. (TYL) Income Statement

30Y historyFree accessUpdated daily

Revenue grew 8.7% year over year to $647.6M in Q3 2026, but operating income grew only 2.4% to $117.0M, and operating margin has swung between 14.7% and 18.1% across the last two quarters, indicating that operating expense growth is absorbing much of the top-line gain.

Annual statement

TYL Income Statement

Tyler Technologies, Inc. (TYL) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Sales/Revenue	2.48B	2.33B	2.14B	1.95B	1.85B	1.59B	1.12B	1.09B	935.28M	840.66M	756.04M	591.02M	493.1M	416.64M	363.3M	309.39M	288.63M	290.29M	265.1M	219.8M	195.3M	170.46M	172.27M	145.45M	133.9M	117.89M	93.2M	108.4M	50.5M	76.4M	128.4M
Revenue Growth %	7.96%	9.1%	9.53%	5.49%	16.2%	42.59%	2.78%	16.16%	11.26%	11.19%	27.92%	19.86%	18.35%	14.68%	17.43%	7.19%	-0.57%	9.5%	20.61%	12.54%	14.58%	-1.05%	18.44%	8.63%	13.58%	26.49%	-14.02%	114.66%	-33.9%	-40.5%	-8.68%
Cost of Goods Sold	1.31B	1.31B	1.26B	1.17B	1.13B	927.49M	595.81M	590.97M	511.92M	454.9M	414.42M	319.74M	264.28M	227.96M	199.88M	170.81M	163.54M	164.23M	157.75M	136.85M	121.82M	110.24M	109.7M	88.62M	85.92M	77.87M	56.14M	50.47M	25.5M	41.8M	56.9M
COGS % of Revenue	-	55.95%	59.02%	59.7%	60.95%	58.25%	53.36%	54.4%	54.73%	54.11%	54.81%	54.1%	53.59%	54.71%	55.02%	55.21%	56.66%	56.57%	59.51%	62.26%	62.37%	64.67%	63.68%	60.93%	64.17%	66.05%	60.24%	46.56%	50.5%	54.71%	44.31%
Gross Profit	1.17B	1.03B	876.13M	786.47M	722.5M	664.79M	520.85M	495.45M	423.36M	386M	341.62M	271.28M	228.82M	188.69M	163.42M	138.58M	125.09M	126.06M	107.35M	82.95M	73.49M	60.22M	62.57M	56.83M	47.98M	40.02M	37.06M	57.93M	25M	34.6M	71.5M
Gross Margin %	47.13%	44.05%	40.98%	40.3%	39.05%	41.75%	46.64%	45.6%	45.27%	45.92%	45.19%	45.9%	46.41%	45.29%	44.98%	44.79%	43.34%	43.43%	40.49%	37.74%	37.63%	35.33%	36.32%	39.07%	35.84%	33.95%	39.76%	53.44%	49.5%	45.29%	55.69%
Gross Profit Growth %	-	17.25%	11.4%	8.85%	8.68%	27.64%	5.13%	17.03%	9.68%	12.99%	25.93%	18.55%	21.27%	15.46%	17.93%	10.78%	-0.77%	17.43%	29.42%	12.87%	22.03%	-3.76%	10.1%	18.45%	19.9%	7.99%	-36.03%	131.74%	-27.75%	-51.61%	-11.29%
Operating Expenses	782.52M	669.61M	576.61M	567.93M	506.25M	458.96M	347.92M	339.09M	270.87M	223.24M	210.31M	157.34M	134M	122.26M	106.85M	92.06M	83.45M	81.27M	70.21M	56.17M	51.57M	46.24M	45.45M	41.32M	37.24M	37.73M	42.49M	49.17M	20M	34M	84M
OpEx % of Revenue	-	28.71%	26.97%	29.1%	27.36%	28.82%	31.16%	31.21%	28.96%	26.55%	27.82%	26.62%	27.18%	29.34%	29.41%	29.76%	28.91%	28%	26.48%	25.55%	26.41%	27.13%	26.38%	28.41%	27.81%	32%	45.59%	45.36%	39.6%	44.5%	65.42%
Selling, General & Admin	496.58M	465.02M	458.67M	458.35M	401.07M	365.48M	259.56M	257.75M	207.6M	175.91M	167.16M	127.42M	108.26M	98.99M	86.71M	75.65M	69.48M	70.11M	62.92M	51.72M	48.27M	43.84M	42.95M	38.39M	33.91M	31.07M	32.8M	37.91M	14.5M	31.9M	79.5M
SG&A % of Revenue	-	19.94%	21.46%	23.48%	21.68%	22.95%	23.24%	23.72%	22.2%	20.93%	22.11%	21.56%	21.95%	23.76%	23.87%	24.45%	24.07%	24.15%	23.74%	23.53%	24.72%	25.72%	24.93%	26.39%	25.33%	26.35%	35.2%	34.97%	28.71%	41.75%	61.92%
Research & Development	240.02M	204.59M	117.94M	109.58M	105.18M	93.48M	88.36M	81.34M	63.26M	47.32M	43.15M	29.92M	25.74M	23.27M	20.14M	16.41M	13.97M	11.16M	7.29M	4.44M	3.3M	2.4M	2.5M	0	0	0	0	0	0	0	0
R&D % of Revenue	-	8.77%	5.52%	5.61%	5.68%	5.87%	7.91%	7.49%	6.76%	5.63%	5.71%	5.06%	5.22%	5.58%	5.54%	5.31%	4.84%	3.84%	2.75%	2.02%	1.69%	1.41%	1.45%	-	-	-	-	-	-	-	-
Other Operating Expenses	3M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2.93M	3.33M	6.66M	9.69M	11.26M	5.5M	2.1M	4.5M
Operating Income	386.92M	357.68M	299.53M	218.54M	216.25M	205.84M	172.93M	156.37M	152.49M	162.76M	131.31M	113.94M	94.82M	66.42M	56.58M	46.52M	41.64M	44.78M	37.14M	26.78M	21.91M	13.98M	17.12M	15.51M	10.74M	2.29M	-5.43M	8.76M	5M	600K	-12.5M
Operating Margin %	15.59%	15.34%	14.01%	11.2%	11.69%	12.93%	15.49%	14.39%	16.3%	19.36%	17.37%	19.28%	19.23%	15.94%	15.57%	15.04%	14.43%	15.43%	14.01%	12.18%	11.22%	8.2%	9.94%	10.66%	8.02%	1.94%	-5.83%	8.08%	9.9%	0.79%	-9.74%
Operating Income Growth %	-	19.41%	37.06%	1.06%	5.06%	19.03%	10.59%	2.54%	-6.31%	23.95%	15.24%	20.17%	42.75%	17.4%	21.63%	11.71%	-7.02%	20.58%	38.69%	22.2%	56.77%	-18.35%	10.37%	44.45%	368.75%	142.17%	-161.99%	75.28%	733.33%	104.8%	-600%
EBITDA	541.48M	505.54M	451.89M	389.3M	388.29M	351.68M	254.58M	233.04M	214.25M	216.15M	181.61M	133.52M	109.43M	80.21M	69.29M	57.19M	52.43M	54.28M	49.75M	37.99M	32.02M	24.42M	28.51M	24.91M	19.26M	13.2M	4.25M	20.02M	10.5M	2.7M	-8M
EBITDA Margin %	21.82%	21.68%	21.14%	19.95%	20.99%	22.09%	22.8%	21.45%	22.91%	25.71%	24.02%	22.59%	22.19%	19.25%	19.07%	18.49%	18.16%	18.7%	18.77%	17.28%	16.39%	14.33%	16.55%	17.12%	14.38%	11.2%	4.56%	18.47%	20.79%	3.53%	-6.23%
EBITDA Growth %	7.9%	11.87%	16.08%	0.26%	10.41%	38.14%	9.24%	8.77%	-0.88%	19.02%	36.02%	22.01%	36.43%	15.76%	21.15%	9.09%	-3.41%	9.11%	30.95%	18.66%	31.1%	-14.33%	14.45%	29.32%	45.91%	210.39%	-78.76%	90.71%	288.89%	133.75%	-212.68%
D&A (Non-Cash Add-back)	154.56M	147.86M	152.37M	170.77M	172.04M	145.84M	81.66M	76.67M	61.76M	53.4M	50.3M	19.57M	14.61M	13.79M	12.71M	10.68M	10.79M	9.5M	12.61M	11.21M	10.1M	10.44M	11.39M	9.4M	8.52M	10.91M	9.69M	11.26M	5.5M	2.1M	4.5M
EBIT	426.89M	395.31M	314.1M	221.87M	215.97M	182.28M	175.04M	159.84M	155.87M	163.46M	131.31M	108.42M	94.47M	65.82M	53.87M	44.11M	39.9M	44.64M	29.28M	28.58M	22.86M	13.63M	17.65M	15.51M	10.74M	2.29M	-5.43M	1.87M	264K	-3M	-6.8M
Net Interest Income	-9.06M	-5M	8.64M	-20.3M	-26.66M	-21.75M	2.12M	3.47M	3.38M	698K	-2M	381K	0	0	0	0	0	1.1M	1.18M	1.8M	1.4M	0	446K	0	0	0	0	0	0	0	0
Interest Income	0	0	14.57M	3.33M	1.72M	1.54M	2.12M	3.47M	3.38M	698K	0	381K	0	0	0	0	0	1.1M	1.18M	1.8M	1.4M	0	638K	0	0	0	0	0	0	0	0
Interest Expense	9.06M	5M	5.93M	23.63M	28.38M	23.3M	0	0	0	0	2M	0	0	0	0	0	0	0	0	0	0	0	192K	0	0	0	0	0	0	0	0
Other Income/Expense	46.25M	32.64M	8.64M	-20.3M	-28.66M	-46.85M	2.12M	3.47M	3.38M	698K	-2M	-5.52M	-355K	-605K	-2.71M	-2.4M	-1.74M	-146K	-7.86M	1.8M	940K	-354K	340K	23.57M	-698K	-479K	-4.88M	470K	-3.38M	899K	5.9M
Pretax Income	433.17M	390.32M	308.17M	198.24M	187.59M	158.98M	175.04M	159.84M	155.87M	161.63M	129.31M	108.42M	94.47M	65.82M	53.87M	44.11M	39.9M	44.64M	29.28M	28.58M	22.86M	13.63M	17.44M	39.08M	10.04M	1.81M	-10.32M	2.34M	3.1M	-1.4M	-64.3M
Pretax Margin %	17.46%	16.73%	14.42%	10.16%	10.14%	9.98%	15.68%	14.71%	16.67%	19.23%	17.1%	18.35%	19.16%	15.8%	14.83%	14.26%	13.82%	15.38%	11.04%	13%	11.7%	7.99%	10.12%	26.87%	7.5%	1.54%	-11.07%	2.16%	6.14%	-1.83%	-50.08%
Income Tax	97.88M	74.72M	45.14M	32.32M	23.35M	-2.48M	-19.78M	13.31M	8.41M	-2.32M	19.45M	43.55M	35.53M	26.72M	20.87M	16.56M	14.85M	17.63M	14.41M	11.08M	8.49M	5.43M	7.31M	13.11M	3.87M	1.54M	-2.81M	2.4M	2M	-200K	-4.3M
Effective Tax Rate %	22.6%	19.14%	14.65%	16.3%	12.45%	-1.56%	-11.3%	8.33%	5.39%	-1.43%	15.04%	40.17%	37.61%	40.59%	38.75%	37.53%	37.21%	39.49%	49.23%	38.76%	37.16%	39.87%	41.92%	33.53%	38.53%	84.99%	27.24%	102.74%	64.52%	14.29%	6.69%
Net Income	335.3M	315.6M	263.03M	165.92M	164.24M	161.46M	194.82M	146.53M	147.46M	163.94M	109.86M	64.87M	58.94M	39.1M	32.99M	27.56M	25.05M	27.01M	14.86M	17.5M	14.36M	8.19M	10.13M	26.4M	7.99M	269K	-24.6M	-2.82M	-8.4M	-3.3M	-61.3M
Net Margin %	13.51%	13.53%	12.3%	8.5%	8.88%	10.14%	17.45%	13.49%	15.77%	19.5%	14.53%	10.98%	11.95%	9.38%	9.08%	8.91%	8.68%	9.3%	5.61%	7.96%	7.35%	4.81%	5.88%	18.15%	5.97%	0.23%	-26.39%	-2.61%	-16.63%	-4.32%	-47.74%
Net Income Growth %	6.34%	19.99%	58.53%	1.02%	1.72%	-17.12%	32.96%	-0.63%	-10.05%	49.23%	69.35%	10.06%	50.74%	18.51%	19.73%	9.99%	-7.24%	81.74%	-15.08%	21.86%	75.3%	-19.11%	-61.64%	230.48%	2869.89%	101.09%	-771%	66.38%	-154.55%	94.62%	-260.59%
Net Income (Continuing)	335.3M	315.6M	263.03M	165.92M	164.24M	161.46M	194.82M	146.53M	147.46M	169.57M	109.86M	64.87M	58.94M	39.1M	32.99M	27.56M	25.05M	27.01M	14.86M	17.5M	14.36M	8.19M	10.15M	25.98M	6.17M	272K	-7.51M	-1.97M	-2.46M	-1.2M	-5M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15K	0	0	0	0	0	0	0
EPS (Diluted)	8.23	7.20	6.05	3.88	3.87	3.82	4.69	3.65	3.68	4.32	2.92	1.77	1.66	1.13	1.00	0.83	0.71	0.74	0.38	0.42	0.34	0.19	0.23	0.58	0.12	0.01	-0.54	-0.07	-0.25	-0.16	-3.09
EPS Growth %	10.43%	19.01%	55.93%	0.26%	1.31%	-18.55%	28.49%	-0.82%	-14.81%	47.95%	64.97%	6.63%	46.9%	13%	20.48%	16.9%	-4.05%	94.74%	-9.52%	23.53%	78.95%	-17.39%	-60.34%	383.33%	1100%	101.85%	-664.87%	71.76%	-56.25%	94.82%	-259.3%
EPS (Basic)	-	7.32	6.17	3.95	3.95	3.95	4.87	3.79	3.84	4.55	3.12	1.90	1.79	1.23	1.09	0.88	0.74	0.77	0.39	0.45	0.37	0.21	0.25	0.64	0.17	0.01	-0.55	-0.07	-0.25	-0.16	-3.09
Diluted Shares Outstanding	40.73M	43.81M	43.5M	42.77M	42.4M	42.24M	41.53M	40.1M	40.12M	39.25M	38.96M	36.55M	35.4M	34.59M	32.92M	33.15M	35.53M	36.62M	39.18M	41.35M	41.87M	42.08M	44.57M	45.03M	49.49M	47.98M	45.38M	40M	34.29M	20.63M	19.84M
Basic Shares Outstanding	40.49M	43.09M	42.61M	42.02M	41.54M	40.85M	40.03M	38.64M	38.45M	37.27M	36.45M	34.14M	33.01M	31.89M	30.33M	31.27M	34.08M	35.24M	37.71M	38.73M	38.82M	39.44M	41.29M	43.08M	47.4M	47.18M	44.95M	40M	34.29M	20.63M	19.84M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Key Metrics

Growth RegimeStable

ProfitabilityModerate

Balance SheetHealthy

Cash FlowStable

Top Statement Risk

Q2 EPS miss sentiment

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q3)

Revenue Growth Steady Near Eight Percent

Based on reported quarterly figures, TYL's revenue grew 8.7% year over year to $647.6M in Q3 2026, holding a consistent high-single-digit pace across recent quarters despite a slowdown from the double-digit growth seen through 2025.

The reported growth rates suggest a durable but moderating trajectory rather than acceleration, with the 2024 period showing elevated rates that have since normalized. The consistency of the 8 to 10 percent range points to recurring subscription revenue providing a stable base. Investors should monitor whether this rate can hold as the company transitions legacy licenses to ratable SaaS contracts, which may compress reported growth optically even while underlying customer adoption continues.

Gross Margin Rebounds Above Forty-Four Percent

As reported in financial statements, TYL's gross margin recovered from 43.1% in Q4 2025 to 49.1% in Q3 2026, a level that remains structurally below pure-play enterprise software peers such as Paycom at 78.6%.

The gross margin expansion appears to reflect improved utilization of implementation labor and mix shifts toward subscription revenue relative to services. The persistent gap versus higher-margin software peers likely reflects the professional services and lower-margin NIC payment processing embedded in the revenue base. Whether margins can sustain the upper-forties range depends on continued cloud migration efficiency and the trajectory of labor costs in specialized implementation work.

EPS Miss Raises Earnings Quality Questions

Based on TYL's reported figures, diluted EPS of $2.23 in Q2 2026 fell well short of the $3.47 consensus despite revenue of $645.1M, while operating margin compressed to 14.7% from 16.3% in the prior quarter.

The size of the EPS shortfall relative to a relatively stable revenue line suggests that cost timing, tax items, or non-operating factors may have weighed on the bottom line. Stock-based compensation of $43.7M in the quarter, the highest in the period shown, may also be contributing to dilution pressure. The maintained full-year guidance suggests management views this as transitory, though the gap warrants further investigation before treating Q2 as an anomaly.

Operating Leverage Remains Modest

According to recent SEC filings, TYL's operating income grew only 2.4% year over year to $117.0M in Q3 2026 while revenue grew 8.7%, indicating that operating expenses are absorbing much of the top-line gain.

Operating income growing well below revenue growth suggests limited operating leverage at present, with SG&A and R&D growing in step with the business. The SG&A line of $121.6M against $647.6M in revenue points to a cost base that has not yet demonstrated strong scaling efficiency. Operating margin expansion will likely require either slower opex growth or a continued mix shift toward higher-margin recurring revenue.

Margin Recovery May Prove Fragile

Based on reported figures, TYL's Q2 2026 operating margin of 14.7% and EPS shortfall versus consensus suggest that the Q3 rebound to 18.1% operating margin may not yet establish a durable trend.

A skeptic would argue that the sharp swing between Q1 and Q2 margins, combined with heavy stock-based compensation, indicates that reported profitability is sensitive to timing and non-cash items. The structurally lower gross margin relative to software peers, at 49.1% versus figures above 75% for Paycom and Paylocity, may limit the ceiling on operating margin expansion. Investors should monitor whether subsequent quarters confirm the Q3 recovery before extrapolating it.

TYL — Frequently Asked Questions

Quick answers to the most common questions about buying TYL stock.

What was Tyler Technologies, Inc.'s (TYL) revenue in 2025?

For fiscal year 2025, Tyler Technologies, Inc. (TYL) reported total revenue of $2.33B. This represents a 1716.5% increase compared to $128.4M in 1996.

Is Tyler Technologies, Inc. (TYL) profitable?

Tyler Technologies, Inc. (TYL) is profitable, generating $315.6M in net income for the fiscal year ending 2025 with a net profit margin of 13.5%.

What is Tyler Technologies, Inc.'s operating profit margin?

Tyler Technologies, Inc. (TYL) reported an operating income of $357.7M, resulting in an operating profit margin of 15.3%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Tyler Technologies, Inc.'s gross profit and gross margin?

Tyler Technologies, Inc. (TYL) generated $1.03B in gross profit for the year, representing a gross profit margin of 44.0%. This demonstrates the company's core pricing power and production efficiency.