Got it. Days sales outstanding and accounts receivable was 114 days at September 30th, 2019, compared to 107 days at September 30th, 2018. At this time, all participants are in a listen-only mode. And then, the nature of some of those wins? The value-weighted average term of new SaaS contracts this quarter was 2.7 years, compared to 3.6 years in Q3 of last year. And secondly, just you're generating a ton of cash, really just want to just get a better sense of now that you've got so much cash on the balance sheet, any change in priorities for the use of cash? Cash provided by operations and free cash flow both reached new quarterly highs in the third quarter, as did non-GAAP EPS. Yes. Annualized GAAP recurring revenues for Q3 were approximately $740 million, up 19.5%, and on a non-GAAP basis were approximately $747 million, also up 19.5%. I heard that a little bit anecdotally. But having said that, in Q3, and we did see a bigger mix in the ERP in the cloud. And Brian, just a follow-up for you. Logo of jester cap with thought bubble. But again, this kind of the secret sauce of Tyler. [Operator instructions]First question comes from Kirk Materne, Evercore ISI. I guess, historically, you've talked about 50 to 100 bps of margin expansion annually. Our estimated non-GAAP annual effective tax rate for 2019 is 24%. In Orlando's case, for example, our team got multiple personal handwritten notes from the clients just all about the success of the implementation. In our Federal division, the MicroPact business we acquired a little over a year ago, that I'd say right now, probably the greatest pressure they're seeing is in their state market. Great. Are you starting to see that come back or is it still below historical levels? While we remain confident in our long-term outlook, there are uncertainties around the continuously evolving COVID-19 pandemic and its impact on our operations and those of our clients. Organic revenue growth was 3.3% on a GAAP basis and 2.7% on a non-GAAP basis. And the way I view it, really, Kirk, is that as we're dealing with the effects of this pandemic – and we know it's going to end and we know the demand is going to be there – but every quarter that goes by, Tyler itself is getting stronger and stronger. Our execution in the third quarter was solid as we continue to build upon a strong first half of the year. Rewrites are generally not part of the Tyler strategy. But it's a part of an overall movement that we've been working on for the past year. Understood. And so, that shift is having a positive impact as well. And so, there are seasonality in Q4, both of those tend to trend to Q4 more heavily toward licenses in the cloud. So it's really a matter of priorities. Our software subscription bookings in the quarter added $10.6 million in new annual recurring revenue, up 58.9% over last year's $6.7 million. Jonathan Ho -- William Blair & Company -- Analyst. Your host for today's call is John Marr, Chairman of Tyler Technologies. ...Operator Hello, and welcome to today's Tyler Technologies first quarter 2016 conference call. Perhaps this is part of the reason but the good news is that all the business trends are there but we're still learning a little bit of the space. Subscription backlog was $592 million, compared to $488 million last year, and includes approximately $129 million related to fixed-fee e-filing contracts. Hi, Lynn, Hi, Brian. Fully diluted shares for the year are expected to be between 40 million and 40.5 million shares. Our next question comes from Tyler Wood from Northland. Our core software license and subscription revenues combined grew organically approximately 20%. This brings in our whole Connected Communities vision and things that we're already doing. Thanks. We've had some really good examples of that in the last couple of years. ReddIt. Our win rates are good across the board. Some of these expense reductions, such as sales commissions and health claims are short-term in nature, but we do expect that some savings will be sustainable. The increase in DSOs is primarily related to the timing of milestone billings under several large percentage of completion contracts, resulting in a $32 million year-over-year increase in unbilled receivables. Thanks guys. Mr. Moore, I'll turn back to you for any closing remarks. But one of the biggest initiatives this year was our e-records which was going about (45:52) the same as the CAD. ET. We are. So, it's the first time we've been able to do that. Thanks. A reconciliation of GAAP to non-GAAP measures is provided in our earnings release. As it relates to schools, in particular, I'd say that's one area right now where budget impacts is sort of constraining some deals from moving forward; it's pushing some things out. As with our response to the COVID-19 pandemic, Tyler demonstrated the resiliency that comes from strong and well-designed business processes and corporate governance practices. Are clients asking about AWS and having the flexibility of moving over -- move over to it? And just curious, I know some of those benefits likely come from COVID, but if we could just get some color on how that breakdown might be to think about what was a COVID benefit and what might be something that's more sustainable in terms of margin benefit? And that Tyler is better positioned than our competitors to provide innovative solutions to help our clients meet new challenges. We also signed significant Justice solutions contract with Dallas County, Texas, including a license arrangement for our Odyssey Solution for criminal and justice of the peace courts valued at approximately $8 million and a SaaS arrangement for our Jury Management Solution valued at approximately $1.6 million. But we're going to continue to be responsive. That's something that's going to continue. And I think the direct answer to your question though is no. Brian? The market expects Tyler Technologies (TYL) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the … We have others that are still not fully mandatory. We have some sort of backlog of e-filing, and then, we've got commitments from some clients that are in the process of implementing case management solutions that will go live on e-filing once that system's in place. Hi. Please proceed with your question. This agreement is one of eight new SaaS contracts this quarter with North Carolina school districts under the master service agreement we signed with the state Department of Public Construction earlier this year. Tyler Technologies Q3 2004 Earnings Conference Call Transcript – 2004-10-28 – US$ 54.00 – Final Transcript of TYL earnings conference call or presentation, 28-Oct-04 12:00pm ET Although certainly in the future, there will be some billable travel and some return to on-site services, we believe that in the long-term, we'll continue to deliver a significant amount of services remotely as our experience over the last two or three quarters is proving that that can be done very effectively and clients are increasingly accepting of that model. For example, government response to the pandemic continued to vary significantly from state-to-state and even from jurisdiction-to-jurisdiction within a state, thereby making the duration and scope of business restrictions within the public sector difficult to predict. And then, Brian, just for you, you guys are executing really well on the margin front with the strong margin growth year-over-year. Go ahead. And so, there haven't been really any changes in the sales process. I think Snohomish County, Washington was a new e-filing customer. There's still significant demand in the market for on-premise, and we're going to be responsive to that demand, even as we are evolving, and moving the strategy more to the cloud. Edited earnings call transcripts of Tyler Technologies, Inc. (TYL) stock They had, I think, 15 big go-lives scheduled for this year and a number of those had pushed back a little bit just because of COVID, but we're on track to get all those done. So, looking out sort of a long time, but sort of five to seven years, right? I don't know that we're in a position still to sort of outline, you can expect this in this quarter and that in that quarter. Curious this quarter with that strength that you saw in public safety, it's getting a bit more linear and less back-end loaded, are you seeing that trend continue where you're seeing pull-through from Tyler customers that are also committing on the public safety side as well and how that's progressing? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Yes, Jonathan, I think that's a good observation. We immediately activated our internal incident response plan, which included taking impacted systems offline to further contain the spread. And that is something that we expect to be sustainable. We expect 2019 GAAP diluted EPS will be between $3.50 and $3.63 and may vary significantly due to the impact of stock incentive awards on the GAAP effective tax rate, as well as, the final valuation of acquired intangibles. We would refer you to our Form 10-K and other SEC filings for more information on those risks. For the year, estimated pre-tax noncash share-based compensation expense is expected to be approximately $62 million. But we haven't seen any meaningful expectations right now out of valuation, probably about the same as before. There are a lot of nuances to it around Tyler. Is M&A something that's more of a priority and are you seeing any pipeline activity in the M&A front? Please go ahead. Tyler Technologies, Inc. (NYSE:TYL) Q3 2018 Earnings Conference Call - Final Transcript Hello and welcome to today's Tyler Technologies Third Quarter 2018 Conference Call. We certainly have had elevated investments -- over the last couple of years, I think R&D has been up more than 30% in each of the last two years. We added 114 new subscription-based arrangements and converted a quarterly high of 46 existing on-premises clients, representing approximately $56 million in total contract value. And I think the key selling point there was really the whole Tyler Alliance story. Hi, good morning. Your host for today's call is John Marr, chairman of Tyler Technologies. We're certainly seeing that our public safety solution had not had much success in Texas historically, and in the last year or so, they've had a number of deals in Texas. Thank you for taking the question. Victor Chiu — Raymond James — Analyst We have functional priorities, quality priorities, user-experience priorities, and then, the technical priorities of evolving toward a more cloud-native solution. I don't expect that the margin growth will be as high in Q4 or that we'll see 300 basis points next year. We're pleased to continue to build on the strong first half of the year with a very solid third quarter. We confirmed that the malicious software the intruder use was ransomware. 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