(Boston, MA, November 5, 2020) - GTY Technology Holdings Inc. (Nasdaq: GTYH) ('GTY'), a leading vertical SaaS/Cloud solutin provider for the public sector, today announced financial results for the third quarter and nine months ended September 30, 2020.

‍

Third Quarter Highlights

‍

Topline growth, cost management, customer satisfaction and continued strength of government digital transformation:

  • Cash flow positive for the quarter; total cash increased by $0.2 million
  • Conclusion of review of strategic alternatives
  • High demand for GTY Budgeting, Procurement and Grants Management Solutions
  • Nine months to date GAAP revenues up 40% year-over-year to $35.0 million; third quarter GAAP revenues up 44% to $12.6 million
  • Nine month to date non-GAAP revenues up 25% year-over-year to #35.6 million; third quarter non-GAAP revenues up 30% to $12.7 million

'This was a great quarter for GTY. We achieved 44% topline growth, a cash flow positive milestone and added 77 new customers,' said TJ Parass, CEO of GTY. 'Our team is doing an exceptional job managing the uncertainties of the COVID-19 pandemic and serving our customers well in the digital transformation of state and local government.'

Attachments

  • Original document
  • Permalink

Disclaimer

GTY Technology Holdings Inc. published this content on 14 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2021 16:23:01 UTC