STOCK TITAN

GTY Technology Holdings Announces Solid Third Quarter Financial Results

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

GTY Technology Holdings reported a strong third quarter 2021, with total revenue reaching $16.3 million, marking a 29% increase year-over-year. Annual recurring revenue was $48.5 million, up 25% year-over-year. Despite achieving higher gross profit of $10.3 million with a 64% gross margin, the company faced an operating loss of $(8.5) million and a net loss of $(9.5) million, widening from $(7.2) million in Q3 2020. Looking ahead, GTY expects fourth quarter non-GAAP revenue between $16.3 million and $16.8 million, representing 25% growth.

Positive
  • Total revenue for Q3 2021: $16.3 million, up 29% YoY.
  • Annual recurring revenue grew to $48.5 million, a 25% increase YoY.
  • Gross profit rose to $10.3 million with a gross margin of 64%.
Negative
  • Operating loss increased to $(8.5) million, compared to $(7.3) million in Q3 2020.
  • Net loss widened to $(9.5) million, or $(0.17) per share, from $(7.2) million in Q3 2020.

Annual recurring revenue of $48.5 million, up 25% year-over-year

Total third quarter revenue of $16.3 million, up 29% year-over-year

BOSTON--(BUSINESS WIRE)-- GTY Technology Holdings Inc. (Nasdaq: GTYH) (“GTY”), a leading vertical SaaS/Cloud solution provider for the public sector, today announced financial results for the third quarter ended September 30, 2021.

“GTY reported another great quarter, highlighted by the large CityBase kiosk install with DTE Energy, a midwestern electric utility which drove our strong performance this quarter with one-time revenue associated with kiosks and will generate significant recurring revenue going forward. We again exceeded expectations across all key operating metrics with continued strength in ARR at 25% growth year-over-year,” said TJ Parass, CEO of GTY. “As we look ahead, we are very encouraged by the strength of our portfolio and the tailwinds supporting the need for public sector organizations to modernize and transform their operations. We believe these strengths as well as our continued investments in sales and marketing position us to maintain our momentum for the balance of fiscal 2021 and beyond.”

Third Quarter 2021 Financial Highlights

  • Revenue: Total GAAP revenue for the third quarter of 2021 was $16.3 million, up 29% compared to $12.6 million in the third quarter of 2020. Total non-GAAP revenue for the third quarter of 2021 was $16.4 million, up 29% compared to $12.7 million in the third quarter of 2020.
  • Gross Profit: Gross profit for the third quarter of 2021 was $10.3 million, compared to $8.0 million for the third quarter of 2020. Gross margin for the third quarter of 2021 was 64%, compared to 63% for the third quarter of 2020. Non-GAAP gross profit for the third quarter of 2021 was $10.9 million, compared to $8.3 million for the third quarter of 2020. Non-GAAP gross margin was 67% for the third quarter of 2021, compared to 65% for the third quarter of 2020.
  • Operating (Loss): Operating loss for the third quarter of 2021 was $(8.5) million, compared to an operating loss of $(7.3) million in the third quarter of 2020. Non-GAAP operating loss for the third quarter of 2021 was $(0.1) million, compared to an operating loss of $(1.4) million in the third quarter of 2020.
  • Net (Loss): Net loss for the third quarter of 2021 was $(9.5) million, or $(0.17) per share, based on 57.5 million weighted average shares outstanding. During the third quarter of 2020, net loss was $(7.2) million, or $(0.13) per share, based on 53.8 million weighted average shares outstanding.

Definitions and reconciliations of all non-GAAP financial measures and additional information regarding operating measures are included below in the section titled “Use of Non-GAAP Financial Measures” and in the accompanying tables. All comparisons in this press release are year over year unless otherwise provided.

Third Quarter 2021 Highlights and Key Metrics

  • CityBase, GTY’s payment solutions subsidiary, deployed a large kiosk solution with DTE Energy well ahead of schedule.
  • Bonfire, GTY’s eProcurement subsidiary, launched Bonfire Open Access Community Projects. This freely accessible tool will provide public procurement teams with access to an extensive database of public projects from across North America to streamline the RFx creation process.
  • Added 74 new customers in the quarter ended September 30, 2021.
  • The number of customers was 1,868 as of September 30, 2021, an increase of 11% from 1,685 as of September 30, 2020.

Additional information regarding our new customers, total customers and Annual Recurring Revenue and how each are calculated are included below.

Financial Outlook

As of November 4, 2021, GTY is providing guidance for its fourth quarter and full year 2021 as follows:

  • Fourth Quarter 2021 Guidance: Total Non-GAAP revenue is expected to be in the range of $16.3 million to $16.8 million or approximately 25% year-over-year growth. Non-GAAP loss from operations is expected to be in the range of $(2.0) to $(2.5) million.
  • Full Year 2021 Guidance: Total Non-GAAP revenue is expected to be in the range of $60.5 million to $61.0 million or approximately 24% year- over-year growth. Non-GAAP loss from operations is expected to be in the range of $(4.7) to $(5.2) million.

Conference Call and Webcast
GTY will hold its quarterly earnings call on November 4, 2021 at 4:30 p.m. ET. Conference call details for participation on the call are listed below. A transcript will also be posted to the Investor Relations section of our website at www.gtytechnology.com.

Investors and participants can register for the call in advance by registering here. After registering, instructions will be shared on how to join the call. The call will also be available via live webcast here. The archived webcast will be available shortly after the call on the company website, www.gtytechnology.com.

About GTY Technology Holdings Inc.
GTY Technology Holdings Inc. (NASDAQ: GTYH) (“GTY”) brings leading public sector technology companies together to achieve a new standard in stakeholder engagement and resource management. Through its six business units, GTY offers an intuitive cloud-based suite of solutions for state and local governments, education institutions, and healthcare organizations spanning functions in procurement, payments, grant management, budgeting, and permitting: Bonfire provides strategic sourcing and procurement software to enable confident and compliant spending decisions; CityBase provides government payment solutions to connect constituents with utilities and government agencies; eCivis offers a grant management system to maximize grant revenues and track performance; Open Counter provides user-friendly software to guide applicants through complex permitting and licensing procedures; Questica offers budget preparation and management software to deliver on financial and non-financial strategic objectives; Sherpa provides public-sector budgeting software and consulting services.

Forward-Looking Statements
This release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The company’s actual results may differ from its expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the company’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic, or other public health crises, on our operations, our customers and the economy; (2) the risk that the ongoing integration of the businesses acquired in our business combination disrupts current plans and operations; (3) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (4) our failure to generate sufficient cash flow from our business to make payments on our debt; (5) changes in applicable laws or regulations; (6) the possibility that the company may be adversely affected by other economic, business or competitive factors; and (7) other risks and uncertainties included in our Annual Report on Form 10-K for the year ended December 31, 2020 and our subsequent filings with the Securities and Exchange Commission. We caution you that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by securities law.

Use of Non-GAAP Financial Measures
To supplement its condensed consolidated financial statements, which are prepared in accordance with U.S. generally accepted accounting principles, or GAAP, GTY has provided in this release certain financial measures that have not been prepared in accordance with GAAP defined as “non-GAAP financial measures,” which include (i) non-GAAP revenues, (ii) non-GAAP gross profit and non-GAAP gross margin, (iii) and non-GAAP loss from operations.

GTY’s management uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to the corresponding GAAP measures, in evaluating GTY’s ongoing operational performance and trends. However, it is important to note that particular items GTY excludes from, or includes in, its non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies in the same industry. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measures to such GAAP financial measures has been provided in the tables included as part of this press release.

Non-GAAP Revenues. Non-GAAP revenues are defined as GAAP revenues adjusted for the impact of purchase accounting resulting from GTY’s business combination which reduced its acquired contract liabilities to fair value. The company believes that presenting non-GAAP revenues is useful to investors as it eliminates the impact of the purchase accounting adjustments to revenues to allow for a direct comparison between periods.

Non-GAAP Gross Profit and Non-GAAP Gross Margin. Non-GAAP gross profit is defined as GAAP gross profit adjusted for the impact of purchase accounting resulting GTY’s business combination and share-based compensation. Non-GAAP gross margin is defined as non-GAAP gross profit divided by non-GAAP revenues. The company believes that presenting non-GAAP gross profit and margin is useful to investors as it eliminates the impact of the purchase accounting adjustments to allow for a direct comparison between periods.

Non-GAAP Loss From Operations. Non-GAAP loss from operations is defined as GAAP loss from operations adjusted for the impact of purchase accounting to revenues resulting from GTY’s business combination, the amortization of acquired intangible assets, share-based compensation, acquisition related costs, goodwill impairment expense, restructuring expenses and the change in fair value of contingent consideration. The company believes that presenting non-GAAP loss from operations is useful to investors as it eliminates the impact of certain non-cash and acquisition related expenses to allow a direct comparison of loss from operations between periods.

Operating Metrics

We define the number of customers as the number of accounts with a unique account identifier for which we have an active contract in the period indicated. New customers have signed a new contract with a GTY entity in the period.

We define ARR as the annualized revenue run-rate of subscription, maintenance or transaction-based agreements from all customers at a point in time. For transaction based CityBase contracts we use the following calculation: For large projects (>$10K per month) with 12 months or more of history we use the trailing 12 months of history. For large projects with less than 12 months, we calculate an annualized value based on history available. For small projects (<$10K per month) we annualize the most recent month’s activity.

               
Exhibit 1                
GTY Technology Holdings Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
                  
                  
    Three Months Ended   Three Months Ended   Nine Months Ended   Nine Months Ended
  September 30, 2021   September 30, 2020   September 30, 2021   September 30, 2020
Revenues  

 $

                        16,257

 

 

 $

                        12,587

 

 

 $

                     43,833

 

 

 $

                     35,027

 

Cost of revenues  

 

                             5,914

 

 

 

                             4,620

 

 

 

                        15,872

 

 

 

                        13,541

 

Gross Profit  

 

                           10,343

 

 

 

                             7,967

 

 

 

                        27,961

 

 

 

                        21,486

 

                  
Operating expenses                
Sales and marketing (1)  

 

                             4,351

 

 

 

                             3,875

 

 

 

                        11,620

 

 

 

                        12,396

 

General and administrative (1)  

 

                             6,281

 

 

 

                             4,667

 

 

 

                        17,062

 

 

 

                        16,607

 

Research and development (1)  

 

                             3,277

 

 

 

                             3,012

 

 

 

                          9,295

 

 

 

                          9,383

 

Amortization of intangible assets  

 

                             3,668

 

 

 

                             3,683

 

 

 

                        10,911

 

 

 

                        10,998

 

Restructuring charges  

 

                                    -

 

 

 

                                    2

 

 

 

                                  -

 

 

 

                          3,666

 

Change in fair value of contingent consideration  

 

                             1,235

 

 

 

                                    -

 

 

 

                          3,599

 

 

 

                               29

 

Total operating expenses  

 

                           18,812

 

 

 

                           15,239

 

 

 

                        52,487

 

 

 

                        53,079

 

Loss from operations  

 

                           (8,469

)

 

 

                           (7,272

)

 

 

                      (24,526

)

 

 

                      (31,593

)

               
Other income (expense)                
Interest income (expense), net  

 

                              (789

)

 

 

                              (441

)

 

 

                        (2,501

)

 

 

                        (1,113

)

Loss from repurchase/issuance of shares  

 

                                    -

 

 

 

                                    -

 

 

 

                        (5,333

)

 

 

                        (1,390

)

Change in fair value of warrant liability  

 

                              (456

)

 

 

                                807

 

 

 

                        (4,023

)

 

 

                          3,104

 

Gain on extinguishment of debt  

 

                                    -

 

 

 

                                    -

 

 

 

                          3,210

 

 

 

                                  -

 

Other income (loss), net  

 

                                  90

 

 

 

                              (696

)

 

 

                               (9

)

 

 

                             437

 

Total other income (expense), net  

 

                           (1,155

)

 

 

                              (330

)

 

 

                        (8,656

)

 

 

                          1,038

 

                  
Loss before income taxes  

 

                           (9,624

)

 

 

                           (7,602

)

 

 

                      (33,182

)

 

 

                      (30,555

)

Benefit from income taxes  

 

                                  93

 

 

 

                                384

 

 

 

                             154

 

 

 

                          2,068

 

Net loss  

 $

                        (9,531

)

 

 $

                        (7,218

)

 

 $

                   (33,028

)

 

 $

                   (28,487

)

                  
Net loss per share, basic and diluted  

 $

                          (0.17

)

 

 $

                          (0.13

)

 

 $

                       (0.58

)

 

 $

                       (0.53

)

Weighted average common shares outstanding, basic and diluted  

 

                           57,536

 

 

 

                           53,842

 

 

 

                        56,960

 

 

 

                        53,301

 

                  
Net loss  

 $

                        (9,531

)

 

 $

                        (7,218

)

 

 $

                   (33,028

)

 

 $

                   (28,487

)

Other comprehensive loss:                
Foreign currency translation gain (loss)  

 

                                608

 

 

 

                              (783

)

 

 

                             (61

)

 

 

                             313

 

Total other comprehensive income (loss)  

 

                                608

 

 

 

                              (783

)

 

 

                             (61

)

 

 

                             313

 

Comprehensive loss  

 $

                        (8,923

)

 

 $

                        (8,001

)

 

 $

                   (33,089

)

 

 $

                   (28,174

)

                 
(1) Amounts include share-based compensation expense as follows:                
Cost of revenues  

 $

                             447

 

 

 $

                             225

 

 

 $

                       1,102

 

 

 $

                          575

 

Sales and Marketing  

 

                                420

 

 

 

                                435

 

 

 

                             861

 

 

 

                          1,568

 

General and administrative  

 

                             2,096

 

 

 

                             1,025

 

 

 

                          4,190

 

 

 

                          3,471

 

Research and development  

 

                                373

 

 

 

                                339

 

 

 

                             874

 

 

 

                             724

 

Total share-based compensation expense  

 $

                          3,336

 

 

 $

                          2,024

 

 

 $

                       7,027

 

 

 $

                       6,338

 

 
 
 
Exhibit 2
Reconciliations of non-GAAP Financial Measures
(in thousands)
(unaudited)
 
 
Non-GAAP Reconciliation Three Months Ended
September 30, 2021 June 30, 2021 September 30, 2020
Revenues

 $

                           16,257

 

 

 $

                         14,317

 

 

 $

                           12,587

 

Purchase accounting adjustment to revenue

 

                                   105

 

 

                                 104

 

 

                                   128

 

Non-GAAP Revenues

 $

                           16,362

 

 

 $

                         14,421

 

 

 $

                           12,715

 

 
 
Gross Profit

 $

                           10,343

 

 

 $

                           9,101

 

 

 $

                             7,967

 

Purchase accounting adjustment to revenue

 

                                   105

 

 

                                 104

 

 

                                   128

 

Share-based compensation

 $

                                447

 

 

 $

                              363

 

 

 

                                   225

 

Non-GAAP Gross Profit

 $

                           10,895

 

 $

                           9,568

 

 $

                             8,320

 

 
Gross Margin

 

64

%

 

 

64

%

 

 

63

%

Non-GAAP Gross Margin

 

67

%

 

66

%

 

65

%

 
Loss from operations

 $

                           (8,469

)

 

 $

                         (7,921

)

 

 $

                           (7,272

)

Purchase accounting adjustment to revenue

 

                                   105

 

 

                                 104

 

 

                                   128

 

Amortization of intangibles

 

                                3,668

 

 

 

                              3,644

 

 

 

                                3,683

 

Share-based compensation

 

                                3,336

 

 

                              1,868

 

 

                                2,024

 

Restructuring charges

 

                                        -

 

 

 

                                      -

 

 

 

                                       2

 

Change in fair value of contingent consideration

 

                                1,235

 

 

                              1,250

 

 

                                        -

 

Non-GAAP Loss from operations

 $

                              (125

)

 

 $

                         (1,055

)

 

 $

                           (1,435

)

 
 
Nine Months Ended 
September 30, 2021 September 30, 2020
Revenues

 $

                           43,833

 

 

 $

                         35,027

 

Purchase accounting adjustment to revenue

 

                                   331

 

 

                                 589

 

Non-GAAP Revenues

 $

                           44,164

 

 

 $

                         35,616

 

 
 
Gross Profit

 $

                           27,961

 

 

 $

                         21,486

 

Purchase accounting adjustment to revenue

 

                                   331

 

 

                                 589

 

Share-based compensation

 

                                1,102

 

 

 

                                 575

 

Non-GAAP Gross Profit

 $

                           29,394

 

 $

                         22,650

 

 
Gross Margin

 

64

%

 

 

61

%

Non-GAAP Gross Margin

 

67

%

 

64

%

 
Loss from operations

 

                            (24,526

)

 

 

                          (31,593

)

Purchase accounting adjustment to revenue

 

                                   331

 

 

                                 589

 

Amortization of intangibles

 

                              10,911

 

 

 

                            10,998

 

Share-based compensation

 

                                7,027

 

 

                              6,338

 

Restructuring charges

 

                                        -

 

 

 

                              3,666

 

Change in fair value of contingent consideration

 

                                3,599

 

 

                                   29

 

Non-GAAP Loss from operations

 $

                           (2,658

)

 

 $

                         (9,973

)

       
Exhibit 3        
GTY Technology Holdings Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
       
  September 30,    December 31, 
   

 

2021

 

 

 

2020

 

Assets        
Current assets:        
Cash and cash equivalents  

 $

                15,327

 

 

 $

                22,800

 

Accounts receivable, net  

 

                   11,068

 

 

 

                     9,994

 

Prepaid expenses and other current assets  

 

                     4,029

 

 

 

                     2,583

 

Total current assets  

 

                   30,424

 

 

 

                   35,377

 

         
Property and equipment, net  

 

                     3,312

 

 

 

                     3,891

 

Intangible assets, net  

 

                   90,196

 

 

 

                 101,107

 

Goodwill  

 

                 284,635

 

 

 

                 284,635

 

Other assets  

 

                     6,466

 

 

 

                     7,437

 

Total assets  

 $

              415,033

 

 

 $

              432,447

 

         
Liabilities and Shareholders’ Equity        
Current liabilities:        
Accounts payable and accrued expenses  

 $

                  4,939

 

 

 $

                  6,366

 

Deferred revenue - current portion  

 

                   24,994

 

 

 

                   22,304

 

Contingent consideration - current portion  

 

                        317

 

 

 

                        743

 

Other current liabilities  

 

                     1,045

 

 

 

                     1,897

 

Total current liabilities  

 

                   31,295

 

 

 

                   31,310

 

         
Deferred revenue - less current portion  

 

                     1,785

 

 

 

                     1,602

 

Warrant liability  

 

                     7,063

 

 

 

                     3,040

 

Deferred tax liability  

 

                   17,307

 

 

 

                   17,494

 

Contingent consideration - less current portion  

 

                   45,730

 

 

 

                   42,530

 

Term loan, net  

 

                   24,331

 

 

 

                   26,632

 

Other long-term liabilities  

 

                     2,738

 

 

 

                     3,074

 

Total liabilities  

 

                 130,249

 

 

 

                 125,682

 

         
Commitments and contingencies        
         
Shareholders’ equity:        
Common stock  

 

                            6

 

 

 

                            6

 

Exchangeable shares  

 

                   50,637

 

 

 

                   54,224

 

Additional paid in capital  

 

                 398,286

 

 

 

                 380,881

 

Accumulated other comprehensive income (loss)  

 

                         (55

)

 

 

                            6

 

Treasury stock  

 

                    (8,343

)

 

 

                    (5,633

)

Accumulated deficit  

 

                (155,747

)

 

 

                (122,719

)

Total shareholders' equity  

 

                 284,784

 

 

 

                 306,765

 

Total liabilities and shareholders’ equity  

 $

              415,033

 

 

 $

              432,447

 

 
       
Exhibit 4        
GTY Technology Holdings Inc.
Condensed Statement of Cash Flows
(in thousands)
(unaudited)
       
       
    Nine Months Ended   Nine Months Ended
  September 30, 2021   September 30, 2020
Cash flows from operating activities:        
Net loss  

 $

                      (33,028

)

 

 $

                      (28,487

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:        
Depreciation of property and equipment  

 

                                764

 

 

 

                                439

 

Amortization of intangible assets  

 

                           10,911

 

 

 

                           10,998

 

Amortization of right of use assets  

 

                             1,354

 

 

 

                             1,107

 

Share-based compensation  

 

                             7,027

 

 

 

                             6,338

 

Deferred income tax benefit  

 

                              (154

)

 

 

                           (2,068

)

Loss on issuance/repurchase of shares  

 

                             5,333

 

 

 

                             1,390

 

Change in fair value of warrant liability  

 

                             4,023

 

 

 

                           (3,104

)

Change in fair value of contingent consideration  

 

                             3,599

 

 

 

                                  29

 

Gain on extinguishment of debt  

 

                           (3,210

)

 

 

                                    -

 

Amortization of deferred debt issuance costs  

 

                                648

 

 

 

                                395

 

Other  

 

                                305

 

 

 

                                  90

 

Changes in operating assets and liabilities:        
Accounts receivable  

 

                           (1,118

)

 

 

                           (1,387

)

Prepaid expenses and other assets  

 

                           (1,600

)

 

 

                           (1,564

)

Accounts payable and accrued liabilities  

 

                           (1,454

)

 

 

                           (1,212

)

Deferred revenue and other liabilities  

 

                             2,868

 

 

 

                             4,708

 

Operating lease liabilities  

 

                              (891

)

 

 

                           (1,202

)

Net cash (used in) provided by operating activities   

 

                           (4,623

)

 

 

                         (13,530

)

         
Cash flows from investing activities:        
Capital expenditures  

 

                              (203

)

 

 

                           (2,850

)

Net cash (used in) provided by investing activities  

 

                              (203

)

 

 

                           (2,850

)

       
Cash flows from financing activities:        
Proceeds from borrowings, net of issuance costs  

 

                                    -

 

 

 

                           14,543

 

Contingent consideration payments  

 

                              (825

)

 

 

                                (27

)

Common stock repurchases  

 

                           (8,043

)

 

 

                                    -

 

Proceeds from issuance of common stock, net of costs  

 

                             6,790

 

 

 

                                    -

 

Other  

 

                              (523

)

 

 

                              (380

)

Net cash provided by (used in) financing activities  

 

                           (2,601

)

 

 

                           14,136

 

       
Effect of foreign currency on cash  

 

                                (46

)

 

 

                                  88

 

       
Net change in cash and cash equivalents  

 

                           (7,473

)

 

 

                           (2,156

)

Cash and cash equivalents, beginning of period  

 

                           22,800

 

 

 

                             8,374

 

Cash and cash equivalents, end of period

 

                           15,327

 

 

                             6,218

 

 

 

Company Contacts:

Investor Relations

ir@gtytechnology.com

1-877-465-3200

Source: GTY Technology Holdings Inc.

FAQ

What were GTY Technology Holdings' Q3 2021 revenue figures?

GTY reported total revenue of $16.3 million for Q3 2021, a 29% increase year-over-year.

How did GTY's annual recurring revenue change in Q3 2021?

The annual recurring revenue increased to $48.5 million, reflecting a 25% growth year-over-year.

What is the outlook for GTY Technology Holdings for Q4 2021?

GTY expects non-GAAP revenue for Q4 2021 to range from $16.3 million to $16.8 million, indicating approximately 25% year-over-year growth.

Did GTY Technology Holdings report a profit or loss in Q3 2021?

GTY reported a net loss of $(9.5) million for Q3 2021, which is larger than the $(7.2) million reported in Q3 2020.

GTYH

NASDAQ:GTYH

GTYH Rankings

GTYH Latest News

GTYH Stock Data

376.70M
34.55M
24.26%
48.42%
3.14%
Software—Application
Technology
Link
United States
Boston