10-Q Filing

TYLER TECHNOLOGIES INC CIK: 860731 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000860731-18-000024`
Period End Date	20180331
Filing Date	20180510
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	tyl-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 48 Cash Flow Statement 52

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.43M	USD	Point-in-time
Accounts receivable, allowance for losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.78M	USD	Point-in-time
Preferred stock, par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Preferred stock, par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$210.62M	USD	Point-in-time
Preferred stock, shares authorized (shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$63.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.15M	USD	Point-in-time
Preferred stock, shares authorized (shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$185.93M	USD	Point-in-time
Preferred stock, shares issued (shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable (less allowance for losses of $4,780 in 2018 and $5,427 in 2017)	`AccountsReceivableNetCurrent`	$246.19M	USD	Point-in-time
Accounts receivable (less allowance for losses of $4,780 in 2018 and $5,427 in 2017)	`AccountsReceivableNetCurrent`	$216.52M	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$65.86M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$43.16M	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$32.21M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$30.26M	USD	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued (shares)	`CommonStockSharesIssued`	48.15M	shares	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$7.29M	USD	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$11.34M	USD	Point-in-time
Common stock, shares issued (shares)	`CommonStockSharesIssued`	48.15M	shares	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	48.15M	shares	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	48.15M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.10M	USD	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	9.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$520.82M	USD	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	10.26M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$532.64M	USD	Point-in-time
Accounts receivable, long-term	`AccountsReceivableNetNoncurrent`	$12.11M	USD	Point-in-time
Accounts receivable, long-term	`AccountsReceivableNetNoncurrent`	$11.55M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$152.31M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$154.25M	USD	Point-in-time
Goodwill	`Goodwill`	$657.99M	USD	Point-in-time
Goodwill	`Goodwill`	$657.73M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$229.62M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$221.07M	USD	Point-in-time
Non-current investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$38.51M	USD	Point-in-time
Non-current investments and other assets	`InvestmentsAndOtherNoncurrentAssets`	$48.39M	USD	Point-in-time
Total assets	`Assets`	$1.63B	USD	Point-in-time
Total assets	`Assets`	$1.61B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.42M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$64.67M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$45.00M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$298.61M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$268.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$319.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$371.46M	USD	Point-in-time
Deferred revenue, long-term	`ContractWithCustomerLiabilityNoncurrent`	$641.00K	USD	Point-in-time
Deferred revenue, long-term	`ContractWithCustomerLiabilityNoncurrent`	$1.27M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$46.88M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$44.22M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $10.00 par value; 1,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $10.00 par value; 1,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized; 48,147,969 shares issued and outstanding as of March 31, 2018 and December 31, 2017	`CommonStockValue`	$481.00K	USD	Point-in-time
Common stock, $0.01 par value; 100,000,000 shares authorized; 48,147,969 shares issued and outstanding as of March 31, 2018 and December 31, 2017	`CommonStockValue`	$481.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$652.91M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$626.87M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-46.00K	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-46.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$624.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$662.29M	USD	Point-in-time
Treasury stock, at cost; 9,900,041 and 10,262,182 shares in 2018 and 2017, respectively	`TreasuryStockValue`	$60.03M	USD	Point-in-time
Treasury stock, at cost; 9,900,041 and 10,262,182 shares in 2018 and 2017, respectively	`TreasuryStockValue`	$54.42M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.19B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.26B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.61B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.63B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Software licenses and royalties	`LicensesRevenue`	$21.76M	USD	1 Quarter
Software licenses and royalties	`LicensesRevenue`	$22.78M	USD	1 Quarter
Subscriptions	`SubscriptionRevenues`	$49.03M	USD	1 Quarter
Subscriptions	`SubscriptionRevenues`	$39.86M	USD	1 Quarter
Software services	`TechnologyServicesRevenue`	$45.94M	USD	1 Quarter
Software services	`TechnologyServicesRevenue`	$42.50M	USD	1 Quarter
Maintenance	`MaintenanceRevenue`	$86.31M	USD	1 Quarter
Maintenance	`MaintenanceRevenue`	$93.90M	USD	1 Quarter
Appraisal services	`AppraisalServicesRevenue`	$5.39M	USD	1 Quarter
Appraisal services	`AppraisalServicesRevenue`	$6.61M	USD	1 Quarter
Hardware and other	`HardwareAndOtherRevenue`	$2.69M	USD	1 Quarter
Hardware and other	`HardwareAndOtherRevenue`	$4.14M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$199.73M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$221.17M	USD	1 Quarter
Software licenses and royalties	`LicenseCosts`	$778.00K	USD	1 Quarter
Software licenses and royalties	`LicenseCosts`	$731.00K	USD	1 Quarter
Acquired software	`CostOfGoodsSoldAmortization`	$5.41M	USD	1 Quarter
Acquired software	`CostOfGoodsSoldAmortization`	$5.38M	USD	1 Quarter
Software services, maintenance and subscriptions	`SoftwareServicesMaintenanceAndSubscriptionsCosts`	$93.54M	USD	1 Quarter
Software services, maintenance and subscriptions	`SoftwareServicesMaintenanceAndSubscriptionsCosts`	$106.08M	USD	1 Quarter
Appraisal services	`AppraisalServices`	$4.20M	USD	1 Quarter
Appraisal services	`AppraisalServices`	$3.78M	USD	1 Quarter
Hardware and other	`HardwareAndOtherCosts`	$1.32M	USD	1 Quarter
Hardware and other	`HardwareAndOtherCosts`	$2.34M	USD	1 Quarter
Total cost of revenues	`CostOfGoodsAndServicesSold`	$105.19M	USD	1 Quarter
Total cost of revenues	`CostOfGoodsAndServicesSold`	$118.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$94.53M	USD	1 Quarter
Gross profit	`GrossProfit`	$102.81M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$42.78M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$47.60M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$11.60M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost`	$13.05M	USD	1 Quarter
Amortization of customer and trade name intangibles	`AmortizationOfIntangibleAssets`	$3.33M	USD	1 Quarter
Amortization of customer and trade name intangibles	`AmortizationOfIntangibleAssets`	$3.31M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$38.84M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$36.83M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$599.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-190.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$36.64M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$39.44M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.61M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$3.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$32.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.83M	USD	1 Quarter
Basic (USD per share)	`EarningsPerShareBasic`	$0.89	USD	1 Quarter
Basic (USD per share)	`EarningsPerShareBasic`	$1.00	USD	1 Quarter
Diluted (USD per share)	`EarningsPerShareDiluted`	$0.95	USD	1 Quarter
Diluted (USD per share)	`EarningsPerShareDiluted`	$0.84	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$32.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.11M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.97M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$8.68M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$10.56M	USD	1 Quarter
Deferred income tax (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-3.87M	USD	1 Quarter
Deferred income tax (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-2.66M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-30.23M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-37.54M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$7.58M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.05M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$919.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.33M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.75M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.17M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-15.94M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-17.95M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-31.11M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-29.46M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$48.18M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$44.63M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.82M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.89M	USD	1 Quarter
Purchase of marketable security investments	`PaymentsToAcquireMarketableSecurities`	$7.13M	USD	1 Quarter
Purchase of marketable security investments	`PaymentsToAcquireMarketableSecurities`	$43.96M	USD	1 Quarter
Proceeds from marketable security investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$11.08M	USD	1 Quarter
Proceeds from marketable security investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$6.90M	USD	1 Quarter
Decrease (increase) in other	`PaymentsForProceedsFromOtherInvestingActivities`	$16.00K	USD	1 Quarter
Decrease (increase) in other	`PaymentsForProceedsFromOtherInvestingActivities`	$-743.00K	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-41.04M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.07M	USD	1 Quarter
Decrease in net borrowings on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Decrease in net borrowings on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-10.00M	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$7.03M	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$19.30M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$14.85M	USD	1 Quarter
Contributions from employee stock purchase plan	`ProceedsFromStockPlans`	$1.80M	USD	1 Quarter
Contributions from employee stock purchase plan	`ProceedsFromStockPlans`	$1.65M	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-531.00K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$21.10M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.58M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.69M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$210.62M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$63.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.15M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$185.93M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$210.62M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$63.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$185.93M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.