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Sentiment · FY2026 Q2
Tyler achieved record Q1 revenue with strong recurring revenue growth, raising FY2026 guidance primarily reflecting the For The Record addition (approximately $30M) plus Q1 outperformance in transactions. SAAS bookings rebounded strongly without large-deal dependency, and Tyler Connect validated the AI strategy with strong client engagement. Meaningful share repurchases were executed at attractive valuations, and the cross-sell motion accelerated with a 3-to-12 product vision as free cash flow more than doubled from the prior year's first quarter.
Revenue Growth | Demand | Cloud & AI | Innovation & R&D | Subscriber Growth | Competitive Dynamics | Regulation Policy | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 1 | 5 | 5 | 4 | 1 | 2 | 3 | 2 |
| 2025Q1 | 5 | 6 | 3 | 1 | 2 | 2 | 1 | |
| 2025Q2 | 5 | 5 | 3 | 3 | 2 | 3 | 2 | |
| 2025Q3 | 5 | 3 | 7 | 4 | 4 | 3 | 1 | 1 |
| 2025Q4 | 10 | 6 | 4 | 3 | 1 | 2 | 1 | 2 |
| 2026Q1 | 5 | 5 | 6 | 5 | 3 | 3 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 1 | 5 | 5 | 5 | 10 | 5 |
| Demand | 5 | 6 | 5 | 3 | 6 | 5 |
| Cloud & AI | 5 | 3 | 3 | 7 | 4 | 6 |
| Innovation & R&D | 4 | 1 | 4 | 3 | 5 | |
| Subscriber Growth | 1 | 2 | 3 | 4 | 1 | 3 |
| Competitive Dynamics | 2 | 2 | 3 | 2 | 3 | |
| Regulation Policy | 3 | 2 | 3 | 1 | 1 | |
| Capital Allocation | 2 | 1 | 2 | 1 | 2 | 2 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $541M | +12.5% | $1.49 | +63.7% | 41.2% | 13.2% | 12.1% | $221M |
| FY2025 Q1 | $565M | +10.3% | $1.84 | +46.0% | 44.8% | 15.8% | 14.3% | $54M |
| FY2025 Q2 | $596M | +10.2% | $1.93 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Alex Zukin | Wolfe Research | 12 (8%) |
| Terry Tillman | Truist Securities | 9 (0%) |
| Alexei Gogolev | JPMorgan |
| +22.9% |
| 43.5% |
| 16.0% |
| 14.2% |
| $93M |
| FY2025 Q3 | $596M | +9.7% | $1.93 | +10.9% | 47.2% | 16.4% | 14.2% | $251M |
| FY2025 Q4 | $575M | +6.3% | $1.50 | +0.7% | 43.1% | 13.0% | 11.4% | $240M |
| FY2026 Q1 | $614M | +8.6% | $1.88 | +2.2% | 48.3% | 16.3% | 13.2% | $104M |
| FY2026 Q2 | $645M | +8.2% | $2.23 | +15.5% | 47.6% | 14.7% | 14.5% | $119M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Jon Ho | William Blair | 8 (0%) |
| Joshua Reilly | Needham | 7 (0%) |
| Mat VanVliet | Cantor Fitzgerald | 7 (0%) |
| Michael Turrin | Wells Fargo | 7 (14%) |
| Rob Oliver | Robert W. Baird | 7 (0%) |
| Saket Kalia | Barclays | 6 (0%) |
| Ken Wong | Oppenheimer | 6 (17%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wolfe Research | 1 | 12 (8%) |
| Truist Securities | 1 | 9 (0%) |
| JPMorgan | 1 | 8 (0%) |
| Wells Fargo | 2 | 8 (13%) |
| William Blair | 1 | 8 (0%) |
| Cantor Fitzgerald | 1 | 7 (0%) |
| Needham | 1 | 7 (0%) |
| Robert W. Baird | 1 | 7 (0%) |
What TYL and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we completed the acquisition of For The Record, representing the third largest acquisition in Tyler's history.”
Tyler acquired courtroom-technology vendor For The Record, its third-largest acquisition, expanding into judicial recording/transcription.
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