Cover and table of contents

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Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM10-K
☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the Fiscal Year Ended December 31, 2022

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 1-10485

TYLER TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware75-2303920
(State or other jurisdiction of incorporation or organization)(I.R.S. employer identification no.)
5101 Tennyson Parkway
Plano,Texas75024
(Address of principal executive offices)(Zip code)

Registrant’s telephone number, including area code: (972) 713-3700


Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbolName of each exchange on which registered
COMMON STOCK, $0.01 PAR VALUETYLNew York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

NONE

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark if disclosure of delinquent filer pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of the Form 10-K or any amendment to the Form 10-K. Yes ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data file required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer", "accelerated filer”, "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer☒Accelerated Filer☐
Non-accelerated Filer (Do not check if smaller reporting company)☐Smaller Reporting Company☐
Emerging Growth Company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act.) Yes ☐ No ☒

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report Yes ☒ No ☐

The aggregate market value of the voting stock held by non-affiliates of the registrant was $13,686,594,900 based on the reported last sale price of common stock on June 30, 2022, which is the last business day of the registrant’s most recently completed second fiscal quarter.

The number of shares of common stock of the registrant outstanding on February 21, 2023 was 41,819,280.

DOCUMENTS INCORPORATED BY REFERENCE

Certain information required by Part III of this annual report is incorporated by reference from the registrant’s definitive proxy statement for its annual meeting of stockholders to be held on May 11, 2023.

TYLER TECHNOLOGIES, INC.

FORM 10-K

TABLE OF CONTENTS

PAGE
PART I
Item 1.Business3
Item 1A.Risk Factors12
Item 1B.Unresolved Staff Comments21
Item 2.Properties22
Item 3.Legal Proceedings22
Item 4.Submission of Matters to a Vote of Security Holders22
PART II
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities23
Item 6.Selected Financial Data24
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations25
Item 7A.Quantitative and Qualitative Disclosures about Market Risk41
Item 8.Financial Statements and Supplementary Data42
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure42
Item 9A.Controls and Procedures42
Item 9B.Other Information42
PART III
Item 10.Directors, Executive Officers and Corporate Governance43
Item 11.Executive Compensation43
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters43
Item 13.Certain Relationships and Related Transactions, and Director Independence43
Item 14.Principal Accounting Fees and Services43
PART IV
Item 15.Exhibits, Financial Statement Schedules44
Signatures47

PART I

Next: Item 1. BUSINESS.