GTYH - GTYH STOCK NEWS

GTY Technology Holdings Inc. (NASDAQ: GTYH) has announced a strategic partnership with Indianapolis and Marion County, enhancing digital transformation efforts. This collaboration spans three of GTY's subsidiaries: CityBase, which improves government accessibility; eCivis, offering grants management solutions; and OpenCounter, streamlining permitting processes. The partnership aims to modernize services and improve government operations while adapting to remote work challenges posed by COVID-19.

Bonfire Interactive Ltd., a unit of GTY Technology, reported record achievements in 2020, including 137 new clients and doubled vendor access despite COVID-19 challenges impacting state budgets and jobs. Significant new clients include major transportation and port authorities, schools, and counties across North America. Bonfire launched new features like Benchmarking and an Intake module to enhance procurement processes. Their database now features over 250,000 vendors, underpinning their growth and commitment to supporting public procurement during the pandemic.

GTY Technology Holdings reported a strong financial performance for Q4 and the full year 2020. The company achieved 14% revenue growth in Q4, totaling $13.1 million, and a full-year revenue of $48.1 million, up 32% year-over-year. Gross profit for Q4 was $8.2 million, with a gross margin of 62%. Despite a net loss of $(12.4) million for Q4, the operating loss improved significantly compared to the previous year. Looking ahead, GTY expects Q1 2021 revenue between $12.5 million to $13.0 million and full-year revenue between $57 million to $60 million.

GTY Technology Holdings (Nasdaq: GTYH) announces its fourth quarter and full year 2020 earnings call on February 16, 2021, at 4:30 pm ET. This call will be accessible through a registration process and will also be available via live webcast. GTY provides a suite of cloud-based solutions for the public sector, enhancing stakeholder engagement and resource management. The company operates through six business units, offering services in procurement, payments, grant management, budgeting, and permitting to state and local governments, education institutions, and healthcare organizations.

OpenCounter has partnered with the City of Miami to enhance business licensing processes through its technology solution, eStart. This initiative aims to improve accessibility for entrepreneurs, allowing them to apply for Business Tax Receipts and Certificates of Use via a mobile-friendly platform. The system provides real-time fee estimates and zoning checks, streamlining the application process.

Miami officials emphasize the culture of innovation in the city, with expectations of significant benefits for local businesses and municipal staff.

GTY Technology Holdings (Nasdaq: GTYH) will participate in the 23rd Annual Needham Virtual Growth Conference on January 14th at 10:00 a.m. ET. CEO TJ Parass and CFO John Curran will present insights about GTY's cloud solutions for public sector entities. The presentation will be accessible via a live webcast. GTY offers a suite of cloud-based tools for government, education, and healthcare, focusing on procurement, payments, and budgeting through its various business units. For more details, visit www.gtytechnology.com.

GTY Technology Holdings (NASDAQ: GTYH) announced the addition of 314 net-new customers in 2020, showcasing robust growth across its business units. The procurement software Bonfire saw a 36% increase in clients, and CityBase grew its customer base by 28%. eCivis reported a 70% increase with 53 new customers, while OpenCounter added 11 clients with a 30% growth. The budgeting units, Questica and Sherpa, combined for a 14% increase, totalling 103 new clients. CEO TJ Parass highlighted the role of cloud solutions in enhancing public sector efficiency during the pandemic.

GTY Technology Holdings Inc. (GTYH) announces a partnership with the City of Portage, Indiana, to enhance payment options for residents via CityBase's advanced technology. This initiative introduces self-service kiosks and online payments for 24/7 accessibility, promoting safer transactions amid the COVID-19 pandemic. The technology, launching in early 2021, also simplifies the revenue management process for the city. Funded by CARES Act allocations, the project aims to streamline operations and improve citizen engagement.

CityBase, a provider of government payment technology and part of GTY Technology Holdings (GTYH), has entered into an agreement with the City and County of Denver to modernize and unify payment systems across various departments. This initiative aims to streamline both online and in-person payment processes for over 716,000 residents, enhancing ease of use and compliance with PCI standards. CityBase's platform will facilitate payments for property taxes, court fees, and more, ultimately improving administrative efficiency and customer experience.