Tyler Technologies Inc (TYL)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	861,099	841,507	821,010	791,281	783,862	777,689	769,242	757,855	709,644	661,153	608,446	557,588	542,512	546,118	533,326	529,983	516,900	490,496	471,405	452,821
Revenue (ttm)	US$ in thousands	1,928,121	1,895,055	1,870,112	1,834,691	1,821,826	1,806,258	1,796,802	1,725,968	1,569,383	1,424,118	1,255,387	1,134,841	1,116,663	1,122,215	1,111,869	1,115,902	1,086,427	1,039,571	1,000,238	961,174
Gross profit margin		44.66%	44.41%	43.90%	43.13%	43.03%	43.06%	42.81%	43.91%	45.22%	46.43%	48.47%	49.13%	48.58%	48.66%	47.97%	47.49%	47.58%	47.18%	47.13%	47.11%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $861,099K ÷ $1,928,121K
= 44.66%

Tyler Technologies, Inc.'s gross profit margin has shown a consistent and generally positive trend over the past eight quarters. The margin has improved gradually from 42.72% in Q4 2022 to 44.77% in Q4 2023. This indicates that the company has been effectively managing its cost of goods sold and increasing its profitability on sales. The slight fluctuations seen in some quarters, such as Q2 and Q3 2023, are within a reasonable range and do not raise significant concerns about the company's ability to maintain a healthy gross profit margin. Overall, Tyler Technologies appears to be efficiently generating revenue after accounting for direct production costs.