Investor Day Highlights Cloud Living and Higher 2030 Financial Targets

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Investor Day Highlights Cloud Living and Higher 2030 Financial Targets

June 10, 2026 Tyler Technologies, Inc.

(TYL, Buy, $420 PT)

Allan Verkhovski

Investor Day Highlights Cloud Living and Higher 2030 Financial Targets (415) 248-5407 averkhovski@btig.com

Nick DannewitzAPPLICATION WHAT YOU SHOULD KNOW: Investor Day reinforced that TYL is a much stronger (415) 248-2298 ndannewitz@btig.com

company than it was three years ago, operating in a durable and growing market Company Data

with demand supported by structural tailwinds and multiple long-term growth drivers

across SaaS, transactions, M&A, and AI. A major operational theme was continued Closing Price $308.92

cloud migration and platform consolidation, with management indicating that some Price Target $420.00

of the biggest benefits from version consolidation and single-version products should Market Cap (M) $13,328.97SOFTWARE begin to accelerate in 2027 and beyond. That should support greater cross-sell Enterprise Value (M) $12,983.00

and upsell opportunities while also driving better efficiency, especially with 30% of Shares Out (M) 43.15

TYL’s development and support costs still tied to non-current product versions. TYL Avg Daily Vol-3 Months (M) 0.61

also highlighted the cross-sell and retention upside embedded in its SaaS platform,

including an example where a customer’s ARR increased 142% after moving from RevisionsEQUITY on-premise to cloud and broadening product adoption. Nearly all 2030 financial Previous Current

targets were revised higher, highlighted by recurring revenue of $3.35B from $3.30B, Rating Buy Buy

operating margins in the mid-30s from 30+%, implying ~180bps of average annual Price Target $420.00 $420.00

expansion, and FCF of $1.15B from $1.0B, or a low-30s margin.