Group 1 - The article discusses an ongoing investigation related to Sapiens International Corporation N.V. (SPNS) and potential financial losses incurred by investors [1] - The investigation is being conducted by Levi & Korsinsky, a law firm specializing in securities litigation, indicating possible legal implications for the company [1] - Investors who have lost money on SPNS are encouraged to contact the law firm for further information and potential recovery options [1]

Microsoft Azure customers worldwide now gain access to Sapiens SaaS solutions to take advantage of the scalability, reliability, and agility of Azure to drive application development and shape business strategies. UXBRIDGE, England, Jan. 13, 2025 /PRNewswire/ -- Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a global leader in intelligent insurance software solutions and a premium member of the Microsoft Top 100 Partner program, today announced the availability of Sapiens SaaS solutions in t ...

ROCHELLE PARK, N. J., Dec. 26, 2024 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that Roni Giladi, Chief Financial Officer, is scheduled to participate in the 27th Annual Needham Growth Conference to be held at the Lotte NY Palace Hotel in New York City, January 14 – 16, 2025. Sapiens will host a group presentation on January 15, from 2:15 p.m.- 2:55 p.m. Eastern Daylight Time (EDT) ...

Sapiens UnderwritingPro solution drives efficiency and automation with advanced technology and end-to-end functionality ROCHELLE PARK, N.J., Dec. 18, 2024 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Sapiens UnderwritingPro for Life & Annuities has received a 2024 XCelent award, in the Customer Base and Support categories in the North America region for new business and automa ...

Sapiens International’s (SPNS) shares have fallen 26.6% in the past month against the Zacks Computer & Technology sector’s 3.7% return and the Zacks Computer - Software industry’s 5.5% growth.Delays in closing new deals, attributed to macroeconomic uncertainties, are affecting Sapiens’ prospects.SPNS issued weaker guidance for 2024, revising its non-GAAP revenue expectations downward. Revenues are expected to be $541-$546 million, indicating a 1.6% reduction at the mid-point from the previous projection of ...

[Financial Highlights and Management Commentary](index=1&type=section&id=Financial%20Highlights%20and%20Management%20Commentary) Sapiens reported a 4.8% revenue increase in Q3 2024, driven by Europe, but revised full-year guidance downwards while maintaining operating margin targets Q3 2024 Financial Highlights (GAAP vs. Non-GAAP) | Metric | Q3 2024 GAAP | Q3 2023 GAAP | % Change | Q3 2024 Non-GAAP | Q3 2023 Non-GAAP | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | $137.0M | $130.7M | 4.8% | $137.0M | $130.8M | 4.8% | | Operating Income | $21.7M | $20.3M | 7.3% | $25.1M | $24.1M | 4.3% | | Operating Margin | 15.9% | 15.5% | +40bps | 18.3% | 18.4% | -10bps | | Net Income | $18.3M | $15.9M | 15.5% | $21.1M | $19.1M | 10.5% | | Diluted EPS | $0.33 | $0.28 | 17.9% | $0.37 | $0.34 | 8.8% | - Revenue growth was driven by strong performance in Europe (**+7.1%**), with more modest growth in North America (**+1.7%**) and Rest of World (**+6.6%**)[3](index=3&type=chunk) - Full-year 2024 non-GAAP revenue guidance was revised down to **$541-$546 million** from the previous **$550-$555 million**, a **1.6%** reduction at the midpoint[3](index=3&type=chunk) - Despite the revenue guidance reduction, the company expects to achieve its non-GAAP operating margin target of **18.2%** for 2024[3](index=3&type=chunk) - Looking ahead, the company anticipates low single-digit revenue growth in 2025[3](index=3&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) Consolidated financial statements detail Sapiens' Q3 2024 performance, showing revenue and net income growth, stable assets, and increased cash [Condensed Consolidated Statement of Income (GAAP)](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Income%20(GAAP)) Q3 2024 GAAP revenue increased 4.8% to $137.0 million, with net income growing 15.5% to $18.3 million and diluted EPS at $0.33 Q3 2024 vs Q3 2023 Income Statement (in thousands USD) | Metric | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Revenue | $137,025 | $130,705 | | Gross Profit | $60,296 | $55,952 | | Operating Income | $21,746 | $20,265 | | Net Income to Shareholders | $18,335 | $15,872 | | Diluted EPS | $0.33 | $0.28 | Nine Months 2024 vs 2023 Income Statement (in thousands USD) | Metric | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Revenue | $408,074 | $383,725 | | Gross Profit | $177,960 | $163,645 | | Operating Income | $64,151 | $58,779 | | Net Income to Shareholders | $54,312 | $45,471 | | Diluted EPS | $0.97 | $0.82 | [Condensed Consolidated Balance Sheet (GAAP)](index=10&type=section&id=Condensed%20Consolidated%20Balance%20Sheet%20(GAAP)) As of September 30, 2024, total assets were $683.3 million, with cash increasing to $146.2 million and total liabilities decreasing to $212.0 million Balance Sheet Summary (in thousands USD) | Account | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $146,152 | $126,716 | | Total current assets | $321,391 | $314,903 | | Goodwill and intangible assets, net | $310,533 | $317,352 | | **Total Assets** | **$683,296** | **$689,624** | | **Liabilities & Equity** | | | | Total current liabilities | $147,301 | $149,124 | | Total long-term liabilities | $64,686 | $90,553 | | **Total Liabilities** | **$211,987** | **$239,677** | | **Total Equity** | **$471,309** | **$449,947** | [Consolidated Statement of Cash Flow (GAAP)](index=11&type=section&id=Consolidated%20Statement%20of%20Cash%20Flow%20(GAAP)) Nine-month operating cash flow was $40.1 million, investing activities provided $28.4 million, and cash and equivalents increased by $19.4 million Cash Flow Summary - Nine Months Ended Sep 30 (in thousands USD) | Category | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $40,116 | $40,779 | | Net cash provided by (used in) investing activities | $28,354 | $(62,636) | | Net cash used in financing activities | $(53,618) | $(43,232) | | **Increase (decrease) in cash and cash equivalents** | **$19,436** | **$(63,224)** | [Non-GAAP Financial Measures and Reconciliations](index=2&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) This section presents non-GAAP financial metrics, including reconciliations, Adjusted EBITDA, and Adjusted Free Cash-Flow, to provide a clearer view of operational performance - Sapiens uses non-GAAP measures to evaluate ongoing operating results and trends, excluding items such as amortization of intangible assets, stock-based compensation, and acquisition-related costs[7](index=7&type=chunk)[8](index=8&type=chunk) [Reconciliation of GAAP to Non-GAAP Results](index=6&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Results) Q3 2024 non-GAAP operating income was $25.1 million, reconciled from GAAP operating income of $21.7 million, primarily due to amortization and software capitalization Q3 2024 GAAP to Non-GAAP Reconciliation (in thousands USD) | Metric | GAAP | Adjustments | Non-GAAP | | :--- | :--- | :--- | :--- | | Gross Profit | $60,296 | $2,513 | $62,809 | | Operating Income | $21,746 | $3,355 | $25,101 | | Net Income to Shareholders | $18,335 | $2,756 | $21,091 | [Adjusted EBITDA Calculation](index=7&type=section&id=Adjusted%20EBITDA%20Calculation) Adjusted EBITDA for Q3 2024 increased to $26.4 million from $24.8 million in Q3 2023, calculated from GAAP operating profit with adjustments Adjusted EBITDA Calculation (in thousands USD) | Period | GAAP Operating Profit | Non-GAAP Operating Profit | Adjusted EBITDA | | :--- | :--- | :--- | :--- | | Q3 2024 | $21,746 | $25,101 | $26,389 | | Q3 2023 | $20,265 | $24,058 | $24,777 | [Adjusted Free Cash-Flow](index=9&type=section&id=Adjusted%20Free%20Cash-Flow) Adjusted free cash flow for Q3 2024 significantly increased to $10.2 million, derived from operating cash flow with specific adjustments Adjusted Free Cash-Flow Calculation (in thousands USD) | Period | Cash-flow from operating activities | Free cash-flow | Adjusted free cash-flow | | :--- | :--- | :--- | :--- | | Q3 2024 | $13,083 | $10,124 | $10,248 | | Q3 2023 | $3,988 | $1,654 | $1,654 | [Key Performance Indicators and Segment Information](index=7&type=section&id=Key%20Performance%20Indicators%20and%20Segment%20Information) This section details Sapiens' performance through key metrics, showing consistent non-GAAP growth, strong ARR, and a shift towards recurring revenue [Quarterly Non-GAAP Performance Summary](index=7&type=section&id=Quarterly%20Non-GAAP%20Performance%20Summary) Sapiens showed steady sequential non-GAAP growth over five quarters, with Q3 2024 revenue at $137.0 million and operating income at $25.1 million Quarterly Non-GAAP Trend (in thousands USD, except EPS) | Metric | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenues | 137,025 | 136,800 | 134,249 | 130,914 | 130,760 | | Operating income | 25,101 | 24,836 | 24,263 | 24,152 | 24,058 | | Diluted EPS | 0.37 | 0.37 | 0.36 | 0.36 | 0.34 | [Annual Recurring Revenue (ARR)](index=7&type=section&id=Annual%20Recurring%20Revenue%20(ARR)) Annual Recurring Revenue (ARR) grew 10.0% year-over-year to **$173.4 million** in Q3 2024, reflecting healthy recurring revenue growth Annual Recurring Revenue (in thousands USD) | Period | ARR | | :--- | :--- | | Q3 2024 | $173,414 | | Q3 2023 | $157,589 | [Non-GAAP Revenue Breakdown](index=8&type=section&id=Non-GAAP%20Revenue%20Breakdown) Q3 2024 revenue breakdown shows Europe as the largest segment, with software products and recurring services growing 15.3% to $100.7 million Non-GAAP Revenue by Geography (in thousands USD) | Region | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | North America | $55,755 | $54,848 | | Europe | $69,281 | $64,662 | | Rest of the World | $11,989 | $11,250 | | **Total** | **$137,025** | **$130,760** | Non-GAAP Revenue by Service Type (in thousands USD) | Service Type | Q3 2024 | Q3 2023 | % Change | | :--- | :--- | :--- | :--- | | Software products and re-occurring services | $100,707 | $87,356 | 15.3% | | Pre-production implementation services | $36,318 | $43,404 | -16.3% | | **Total Revenues** | **$137,025** | **$130,760** | **4.8%** | [Other Information](index=3&type=section&id=Other%20Information) This section provides supplementary information, including debt covenant compliance, forward-looking statements, and a corporate overview of Sapiens [Debt Covenants](index=12&type=section&id=Debt%20Covenants) As of September 30, 2024, Sapiens fully complied with all Series B Debenture financial covenants, exceeding equity targets and maintaining low indebtedness ratios - Shareholders' equity was **$471.3 million**, far exceeding the covenant requirement of over **$120 million**[37](index=37&type=chunk)[38](index=38&type=chunk) - The ratio of net financial indebtedness to net capitalization was **(44.90)%**, well below the target of **65%**[39](index=39&type=chunk)[40](index=40&type=chunk) - The ratio of net financial indebtedness to EBITDA was **(1.42)**, significantly better than the required level of below **5.5**[41](index=41&type=chunk)[42](index=42&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section provides standard disclaimers for forward-looking statements, highlighting risks that could cause actual results to differ materially - The report contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially[18](index=18&type=chunk) - Key risks include the global macroeconomic environment, lengthy sales cycles, competition, and risks associated with global operations and the company's location in Israel[18](index=18&type=chunk) [About Sapiens](index=3&type=section&id=About%20Sapiens) Sapiens is a global leader in intelligent software solutions for the insurance industry, serving over 600 customers in more than 30 countries - Sapiens is a global leader in intelligent software solutions for the insurance industry[16](index=16&type=chunk) - The company serves over **600 customers** in more than **30 countries** and is a Microsoft Top 100 Partner[16](index=16&type=chunk)

U.S. stock futures were higher this morning, with the Dow futures gaining around 150 points on Monday.Shares of Sapiens International Corporation N.V. SPNS fell sharply in today's pre-market trading after the company reported worse-than-expected third-quarter financial results.Sapiens Intl posted third-quarter adjusted earnings of 37 cents per share, missing market estimates of 38 cents per share. The company's quarterly sales came in at $137.03 million versus expectations of $140.07 million.Sapiens Interna ...

Sapiens (SPNS) came out with quarterly earnings of $0.37 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this provider of software and services to the insurance industry would post earnings of $0.36 per share when it actually produced earnings of $0.37, delivering a surprise of 2.78%.Over the last four quarters, the company has surpassed consensus EPS estimate ...

Sapiens (SPNS) shares rallied 5% in the last trading session to close at $38.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.8% gain over the past four weeks.Sapiens is benefiting from strong growth in its intelligent insurance software platform, which leverages AI and advanced automation to improve insurers capabilities across different properties, casualty, workers compensation and more.This provider ...

Sapiens DataSuite on the cloud accelerates the insurer's scalability and cost-efficiency, streamlines operations, and enables faster insightsUXBRIDGE, England, Nov. 4, 2024 /PRNewswire/ -- Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the go-live of Sapiens DataSuite by a Tier 1 insurer based in Africa. Powered by Sapiens DataSuite, the migration of the insurer's data platform to the cloud provides t ...