Tyler Technologies reported $2.13B of remaining performance obligations at 30 Sep 2024, up 9% from a year earlier and up 2% from the previous quarter. That is 1.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.07.
Net new backlog added in the latest quarter: $40.0M.
Over the last twelve months it turned about 103% of its opening backlog into revenue (12-month conversion).
45% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 32.0% of the backlog.
Twelve-month book-to-bill: 1.09, i.e. 1.09 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +1 points — orders are running ahead of revenue.
The latest filed figure is more than 200 days old.
Tyler Technologies backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2024
$2.13B
$2.08B
1.0 yrs
$682M
30 Jun 2024
$2.09B
$2.03B
1.0 yrs
$652M
31 Mar 2024
$2.02B
$1.99B
1.0 yrs
$572M
31 Dec 2023
$2.03B
$1.95B
1.0 yrs
$633M
30 Sep 2023
$1.95B
$1.92B
1.0 yrs
$601M
30 Jun 2023
$1.90B
$1.90B
1.0 yrs
$567M
31 Mar 2023
$1.85B
$1.87B
1.0 yrs
$499M
31 Dec 2022
$1.89B
$1.85B
1.0 yrs
$571M
30 Sep 2022
$1.88B
$1.83B
1.0 yrs
$532M
30 Jun 2022
$1.85B
$1.82B
1.0 yrs
$529M
31 Mar 2022
$1.76B
$1.75B
1.0 yrs
$455M
31 Dec 2021
$1.80B
$1.59B
1.1 yrs
$511M
Questions
What is Tyler Technologies's backlog?
Tyler Technologies reported $2.13B of remaining performance obligations at 30 Sep 2024, up 9% from a year earlier and up 2% from the previous quarter. That is 1.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.07.
How fast does Tyler Technologies's backlog turn into revenue?
Over the last twelve months Tyler Technologies recognised revenue equal to about 103% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.