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GTY Technology Holdings Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2022 10-Q, filed May 13, 2022. Its latest SEC filing is a 15-12G from Jul 18, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Provides cloud software for public-sector organizations, including tools for procurement, payments, grants, permitting and budgeting.

How Did They Make Money?

Customers pay subscription fees for access to cloud software, typically over contract terms; first-year fees are usually due within 30 days of signing and renewals are billed thereafter. Professional services are billed by time and materials, fixed fees, or subscriptions; software licenses are paid upfront and kiosks when operational.

FY2021 revenue

Who Were Their Customers?

Public-sector organizations, including state and local governments, schools, healthcare organizations and utilities, buy the software. Sales are made directly by some subsidiaries’ sales teams, with resellers and other technology or services relationships also supporting sales.

Did Revenues Turn Into Profits?

No. It lost $53.8M in FY2021.

Operating income, FY2021
−75% of revenue
▲ +7% (Loss) vs FY2020 (−$42.7M, −89%)
Net income, FY2021
−89% of revenue
▲ +28% (Loss) vs FY2020 (−$41.9M, −87%)
Free cash flow, FY2021
−11% of revenue
▼ −58% (Loss) vs FY2020 (−$16M, −33%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q1 FY2022, the three months to Mar 31, 2022
Revenue
▲ +20%
vs $13.3M in Q1 FY2021
Net income
▼ −74% (Loss)
vs −$18M in Q1 FY2021
  • Jul 7, 2022 GI Partners completed its acquisition of GTY, taking it private GTY shareholders received cash for their shares, and its stock was to be delisted from public markets.

Grew. Revenue grew 26% in 1 year, from $48.1M in FY2020 to $60.5M in FY2021, about 26% a year.

Who Did They Compete With?

Competes with SAP Ariba

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