Tyler Technologies (NYSE: TYL) reported Q3 EPS of $2.14, $0.15 better than the analyst estimate of $1.99. Revenue for the quarter came in at $494.68 million versus the consensus estimate of $495.97 million.

Guidance for 2023

As of November 1, 2023, Tyler Technologies is providing the following guidance for the full year 2023:

Total revenues are expected to be in the range of $1.942 billion to $1.962 billion, versus the consensus of $1.959 billion
GAAP diluted earnings per share are expected to be in the range of $3.82 to $3.96 and may vary significantly due to the impact of stock option activity on the GAAP effective tax rate.
Non-GAAP diluted earnings per share are expected to be in the range of $7.66 to $7.80, versus the consensus of $7.69.
Interest expense is expected to be approximately $24 million, including approximately $5 million of non-cash amortization of debt discounts and issuance costs.
Pretax non-cash, share-based compensation expense is expected to be approximately $110 million.
Research and development expense is expected to be in the range of $114 million to $115 million.
Fully diluted shares for the year are expected to be in the range of 42.5 million to 43.0 million shares.
GAAP earnings per share assumes an estimated annual effective tax rate of approximately 16.5% after discrete tax items, including approximately $9 million of discrete tax benefits related to share-based compensation.
The non-GAAP annual effective tax rate is expected to be 22.0%.
Capital expenditures are expected to be in the range of $58 million to $60 million, including approximately $35 million of capitalized software development costs. Total depreciation and amortization expense is expected to be approximately $148 million, including approximately $109 million from amortization of acquisition intangibles.

For earnings history and earnings-related data on Tyler Technologies (TYL) click here.