Tyler Technol - TYL STOCK NEWS

Tyler Technologies (NYSE: TYL) has launched its Modria® online dispute resolution solution in the Idaho Supreme Court, aiming to manage the anticipated surge in eviction cases following the federal eviction moratorium expiration on July 31. Modria will streamline communication, inform citizens about rent relief programs, and potentially prevent eviction judgments. This initiative prioritizes increasing access to justice and alleviating the court's workload in Ada County, with plans for future expansion across Idaho.

Tyler Technologies reported strong second quarter 2021 results, marking a 49.1% revenue increase to $404.1 million compared to Q2 2020. This growth was significantly influenced by the acquisition of NIC Inc. for $2.3 billion, which expanded its digital government solutions portfolio. Recurring revenues rose 57.7% to $319.2 million, constituting 79% of total revenue. However, net income declined 52.6% year-over-year to $25.5 million. The company's cash flows from operations were negative $20.3 million, attributed to acquisition-related costs. For 2021, Tyler expects GAAP revenues between $1.532 billion and $1.557 billion.

Tyler Technologies (NYSE: TYL) is set to announce its second quarter 2021 results during a conference call on July 29, 2021. The call begins at 10:00 a.m. ET, featuring CEO H. Lynn Moore Jr. and CFO Brian K. Miller. A press release will precede this event on July 28, 2021. Participants can pre-register for the call via a provided link or dial-in directly. Tyler Technologies specializes in integrated software and technology services for government entities, boasting over 27,000 installations across 11,000 sites globally.

Tyler Technologies (NYSE: TYL) has opened a new office in Lawrenceville, Georgia, moving from its previous location in Duluth. The 62,635 square foot facility will support the company's growth and cater to its Civic Services business unit. More than 100 jobs are expected to be added over the next five years. The relocation is driven by the success of Tyler's EnerGov civic services solution, which has gained over 300 clients across 42 states. This office will enhance collaboration with modern features and a state-of-the-art training facility.

Tyler Technologies (NYSE: TYL) has partnered with the U.S. Department of Energy’s NREL to integrate its EnerGov Community Development software with SolarAPP+, an online platform that streamlines rooftop solar panel permitting. This collaboration aims to enhance the efficiency of the permitting process, potentially reducing approval times by 5 to 20 business days. Dr. Jeffrey Cook from NREL notes that SolarAPP+ has improved processes in Arizona and California. Tyler's integration of SolarAPP+ is expected to facilitate renewable energy expansion and reduce market costs, estimated at $4.7 million per day in delays.

Tyler Technologies (NYSE: TYL) has secured a multi-year contract extension with the state of Oregon for its digital government and payment services. This four-year agreement extends their partnership, initially launched 10 years ago, with Tyler's subsidiary, NIC. The contract focuses on enhancing accessibility and user experience for Oregon's digital services, including the development of user-friendly applications and online services. In 2020, NIC facilitated 295 digital services, processing $1.43 billion from over 4 million transactions, highlighting the importance of this ongoing collaboration.

Tyler Technologies (NYSE: TYL) has expanded its partnership with Legal Aid BC, enhancing the Modria online dispute resolution solution. This expansion adds child support services to the existing platform, allowing separated parents in British Columbia to access self-help resources for custody and support agreements. Users benefit from up to ten hours of free online mediation, aimed at resolving family law matters outside traditional court settings. Modria has successfully managed over a million cases globally, showcasing Tyler's commitment to improving access to justice and efficiency in legal processes.