Tyler Technologies, Inc. (TYL) Morgan Stanley Technology, Media & Telecom Conference 2026 March 4, 2026 5:35 PM EST
Company Participants
Brian Miller – Executive VP & CFO
Conference Call Participants
David Chen
Presentation
David Chen
All right. Good afternoon, everyone. I’m David Chen with Morgan Stanley, and I’m very pleased to have Brian Miller here, Chief Financial Officer of Tyler Technologies. Brian, welcome.
Brian Miller
Executive VP & CFO
Thanks. Great to be here.
Question-and-Answer Session
David Chen
All right. So why don’t we just kind of get started with, for those of you that are possibly maybe new to the Tyler story. Provide — just kind of give us the quick sense of the company and the products.
Brian Miller
Executive VP & CFO
Sure. vertical software company focused exclusively on the public sector market. So we provide a wide range of software applications that manage essential mission-critical functions of government. More of — most of our focus is the local government level. So cities, counties, school districts, local agencies make up about 70% to 75% of our business. Another 20% to 25% is at the state level and less than 5% federal. So not much exposure there.
We have, by far, the largest, broadest product portfolio in the industry, which is a very fragmented space historically as well as the largest customer base. So we’ve got about 45,000 systems installed across about 15,000 different jurisdictions. Revenues will be about $2.5 billion this year. Market cap is around 15%. And we also have a growing transactions business as well. So we do a lot of things about processing and transaction-based services, especially for state governments, but we’re driving that down into our local government base through integration with our software products. So we have a really — the transactions are about 1/3 of our business today.
