The raised EPS guidance and record free cash flow signal improving operational efficiency and strong demand. Monitor the Q4 2026 earnings for continued SaaS growth trajectory and margin expansion, as well as updates on the AI deal pipeline and capital allocation priorities.
Price Chart
Executive Summary
Tyler Technologies reported Q3 2026 results with total revenue of $647.6M (+8.7% YoY), GAAP EPS of $2.33 (+20.7% YoY), and non-GAAP EPS of $3.52 (+18.5% YoY). SaaS revenue grew 21.2% to $242.2M, and free cash flow reached a quarterly record of $277.0M. The company raised its full-year 2026 non-GAAP EPS guidance to $12.95-$13.20 from the prior $12.50-$12.75 range, while narrowing total revenue guidance to $2.535B-$2.565B. The results and guidance raise are positive, supported by strong SaaS bookings and margin expansion.
Key Financial Metrics
Key Facts
- Total revenue of $647.6M, up 8.7% YoY, slightly below the $652.0M consensus
- GAAP diluted EPS of $2.33, up 20.7% YoY; non-GAAP diluted EPS of $3.52, up 18.5% YoY, above the $3.49 consensus
- SaaS revenue grew 21.2% to $242.2M; subscription revenue grew 15.3% to $462.6M
- Annualized recurring revenue (ARR) reached $2.28B, up 11.0% YoY
- Free cash flow of $277.0M, a quarterly record, up 11.9% YoY
- Full-year 2026 non-GAAP EPS guidance raised to $12.95-$13.20 from $12.50-$12.75; total revenue guidance narrowed to $2.535B-$2.565B from $2.535B-$2.575B
- Repurchased 1,148,389 shares for ~$379M during the quarter; ~$1.37B remaining under repurchase authorizations
- Completed acquisition of CODY Systems for ~$27.7M in cash on July 30, 2026
Financial Impact
Non-GAAP EPS of $3.52 exceeded the $3.49 consensus by $0.03 (0.9%). Revenue of $647.6M was $4.4M below the $652.0M consensus (-0.7%). Full-year non-GAAP EPS guidance raised by $0.45 at the midpoint.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Subscriptions | $462.6M | +15.3% |
| Maintenance | $106.2M | -4.6% |
| Professional services | $63.0M | -2.7% |
| Other | $15.8M | -15.9% |
Risk Factors
- Revenue slightly missed consensus, which may temper enthusiasm despite the EPS beat
- Maintenance revenue declined 4.6% YoY, indicating a shift away from on-premise contracts
- Aggressive share repurchase (8.5% of shares YTD) reduces share count but also uses cash that could be deployed for growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000860731-26-000056 |
| Document: tyl-20261028.htm | 0000860731-26-000056 |
| Document: 0000860731-26-000056-index-headers.html | 0000860731-26-000056 |
| Document: 0000860731-26-000056-index.html | 0000860731-26-000056 |
| Document: 0000860731-26-000056.txt | 0000860731-26-000056 |
| 8-K Data (Synthetic) | 0000860731-26-000056 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 today | 144 | $382.28 | awaiting T+1 | awaiting T+1 | $394.30 (+3.14%) |
Oct 30, 2026 today | SC 13G/A | $397.22 | awaiting T+1 | awaiting T+1 | $394.30 (−0.74%) |
Oct 28, 2026 2d ago | 8-K | $373.93 $394.30 | ▲ +5.45% | ▲ +7.22% | $394.30 (+5.45%) |
Oct 27, 2026 3d ago | SC 13G/A | $360.90 $373.93 | ▲ +3.61% | ▲ +3.99% | $394.30 (+9.25%) |
Oct 23, 2026 7d ago | Institutional Cluster | $390.14 $386.38 | ▲ +0.96% | ▲ +1.67% | $394.30 (−1.07%) |
Sep 15, 2026 6w ago | 8-K | $353.13 $348.39 | ▼ −1.34% | ▼ −1.67% | $394.30 (+11.66%) |
Sep 1, 2026 8w ago | Insider Cluster | $376.43 $374.88 | ▼ −0.41% | ▼ −0.86% | $394.30 (+4.75%) |
Jun 12, 2026 20w ago | 8-K | $298.84 $289.84 | ▼ −3.01% | ▼ −4.78% | $394.30 (+31.94%) |
May 29, 2026 22w ago | 8-K | $312.69 $329.72 | ▲ +5.44% | ▲ +5.19% | $394.30 (+26.10%) |
May 14, 2026 24w ago | 8-K | $311.49 $319.00 | ▲ +2.41% | ▲ +2.47% | $394.30 (+26.59%) |
US Market Status
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