Sapiens International (SPNS) Q1 2025 Earnings Call May 08, 2025 09:30 AM ET Speaker0 Welcome to Sapiens International Corporation's twenty twenty five First Quarter Financial Results Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. It is now my pleasure to introduce your host, Yapha Koenig Frak, Chief Marketing Officer and Head of Investor Relations. Thank you, Yapha. You may now begin. Thank you, operator. I want to welcome y ...

Chesapeake Utilities (CPK) Q1 2025 Earnings Call May 08, 2025 08:00 AM ET Company Participants Lucia Dempsey - Head of Investor Relations (IR)Jeffrey Householder - President, CEO & ChairmanJames Moriarty - Executive VP, General Counsel, Corporate Secretary and Chief Policy & Risk OfficerBeth Cooper - Executive VP, CFO, Treasurer & Assistant Corporate SecretaryChris Ellinghaus - Managing DirectorPaul Fremont - Managing Director Conference Call Participants Tate Sullivan - Senior Research AnalystNone - Analys ...

Chesapeake Utilities (CPK) Q1 2025 Earnings Call May 08, 2025 08:00 AM ET Speaker0 Welcome to Chesapeake Utilities Corporation's First Quarter twenty twenty five Earnings Conference Call. I would now like to turn the call over to Lucia Dempsey, Head of Investor Relations. Speaker1 Thank you, and good morning, everyone. Today's presentation can be accessed on our website under the Investors page and Events and Presentations subsection. After our prepared remarks, we will open up the call for questions. On Sl ...

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Core Insights - Sapiens (SPNS) reported quarterly earnings of $0.37 per share, exceeding the Zacks Consensus Estimate of $0.35 per share, and showing a slight increase from $0.36 per share a year ago [1][2] - The company posted revenues of $136.11 million for the quarter ended March 2025, which was below the Zacks Consensus Estimate by 0.30%, and an increase from $134.25 million year-over-year [3] - Sapiens has surpassed consensus EPS estimates three times in the last four quarters, but has not beaten revenue estimates during the same period [2][3] Financial Performance - The earnings surprise for the recent quarter was 5.71%, and the previous quarter's surprise was 2.78% [2] - The current consensus EPS estimate for the upcoming quarter is $0.37, with expected revenues of $139 million, and for the current fiscal year, the EPS estimate is $1.46 on revenues of $555.81 million [8] Market Position - Sapiens shares have increased by approximately 8.2% since the beginning of the year, contrasting with a decline of -4.3% in the S&P 500 [4] - The Zacks Industry Rank places the Computer - Software sector in the top 29% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [9] Future Outlook - The company's future stock performance will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [4][5] - The current Zacks Rank for Sapiens is 3 (Hold), suggesting that the stock is expected to perform in line with the market in the near future [7]

Safe Harbor for Forward-Looking Statements THURSDAY, MAY 8, 2025 Q1 2025 Earnings Call Presentation Safe Harbor Statement Some of the statements in this presentation are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable law. Such forward-looking statements may be identified by the use of words, such as "project," "believe," "expect," "anticipate," "intend," "plan," "estimate," "continue," "potential," "forecast" or other similar word ...

[Sapiens Q1 2025 Financial Results](index=1&type=section&id=Sapiens%20Reports%20First%20Quarter%202025%20Financial%20Results) [Financial Highlights](index=1&type=section&id=Summary%20Results%20for%20First%20Quarter%202025) Sapiens reported modest revenue growth and stronger profitability in Q1 2025, driven by strategic acquisitions Q1 2025 Financial Performance Summary (GAAP vs. Non-GAAP) | Metric | Q1 2025 (GAAP) | Q1 2024 (GAAP) | % Change | Q1 2025 (Non-GAAP) | Q1 2024 (Non-GAAP) | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $136.1M | $134.2M | 1.4% | $136.1M | $134.2M | 1.4% | | **Gross Profit** | $60.7M | $57.6M | 5.4% | $63.0M | $60.9M | 3.5% | | **Gross Margin** | 44.6% | 42.9% | +170 bps | 46.3% | 45.4% | +90 bps | | **Operating Income** | $21.2M | $20.5M | 3.3% | $24.6M | $24.3M | 1.2% | | **Operating Margin** | 15.6% | 15.3% | +30 bps | 18.0% | 18.1% | -10 bps | | **Net Income** | $17.9M | $17.4M | 3.3% | $20.7M | $20.4M | 1.3% | | **Diluted EPS** | $0.32 | $0.31 | 3.2% | $0.37 | $0.36 | 2.8% | - The company completed two **strategic acquisitions**, Candela and AdvantageGo, which significantly expand its global footprint and solution offerings in both the Life and Property & Casualty (P&C) insurance sectors[5](index=5&type=chunk) - Management noted continued **strong demand for its AI-driven insurance platforms** and high customer adoption of its SaaS model[5](index=5&type=chunk) [2025 Business Outlook](index=1&type=section&id=2025%20Business%20Outlook) The company raised its 2025 revenue guidance due to acquisitions but lowered its operating profit outlook Updated Full-Year 2025 Guidance | Metric | Previous Guidance | Updated Guidance | | :--- | :--- | :--- | | **Non-GAAP Revenue** | $553M - $558M | $574M - $578M | | **Non-GAAP Operating Profit** | $98M - $102M | $94M - $96M | | **Non-GAAP Operating Margin (Midpoint)** | N/A | 16.5% | - The downward revision in operating profit guidance is attributed to losses from the AdvantageGo acquisition and integration costs, with a total negative impact of about **$5 million** at the midpoint[5](index=5&type=chunk) [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures) The company uses non-GAAP metrics, excluding certain items, to provide a clearer view of core operational performance - Sapiens believes non-GAAP measures provide useful information to management and investors for analyzing financial and business trends[8](index=8&type=chunk) - Adjustments to GAAP figures to arrive at non-GAAP measures include the exclusion of: **amortization of capitalized software and other intangibles, capitalization of software development, stock-based compensation, and acquisition-related costs**[9](index=9&type=chunk) - Annual Recurring Revenue (ARR) is defined as the annualized value of revenue from customer subscriptions, term licenses, maintenance, application maintenance, and cloud solutions, calculated by multiplying the most recent quarter's revenue from these sources by four[13](index=13&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) This section presents the unaudited condensed consolidated statements of income, balance sheet, and cash flow [Condensed Consolidated Statement of Income](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20INCOME) Q1 2025 vs Q1 2024 Income Statement (in thousands USD) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Revenue** | 136,105 | 134,249 | | **Gross Profit** | 60,660 | 57,560 | | **Operating Income** | 21,196 | 20,522 | | **Net Income Attributable to Sapiens' Shareholders** | 17,936 | 17,360 | | **Diluted EPS** | $0.32 | $0.31 | [Condensed Consolidated Balance Sheet](index=10&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEET) - Total assets increased to **$714.0 million** as of March 31, 2025, from $691.7 million at December 31, 2024, primarily due to a rise in Goodwill and intangible assets from $302.5 million to **$329.8 million**[32](index=32&type=chunk) - Total current liabilities rose to **$194.9 million** from $149.6 million, largely driven by an increase in 'Accrued expenses and other liabilities'[32](index=32&type=chunk) - Cash and cash equivalents decreased to **$143.4 million** from $163.7 million at the end of 2024[32](index=32&type=chunk) [Consolidated Statement of Cash Flow](index=11&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20CASH%20FLOW) - Net cash provided by operating activities was **$25.4 million** for Q1 2025, an increase from $18.5 million in Q1 2024[33](index=33&type=chunk) - Net cash used in investing activities was **$28.7 million**, which included **$16.3 million** for business acquisitions[33](index=33&type=chunk) - Net cash used in financing activities was **$19.8 million**, primarily for the repayment of the Series B debenture[33](index=33&type=chunk) [Reconciliation of GAAP to Non-GAAP Results & Supplemental Information](index=6&type=section&id=RECONCILIATION%20OF%20GAAP%20TO%20NON-GAAP%20RESULTS) This section reconciles GAAP to non-GAAP results and provides supplemental data on revenue and key performance indicators Non-GAAP Revenue Breakdown by Service Type (Q1 2025 vs Q1 2024) | Revenue Type | Q1 2025 ($M) | % of Total | Q1 2024 ($M) | % of Total | | :--- | :--- | :--- | :--- | :--- | | Software products and re-occurring services | 108.1 | 79.4% | 94.2 | 70.2% | | Pre-production implementation services | 28.0 | 20.6% | 40.0 | 29.8% | | **Total Revenues** | **136.1** | **100%** | **134.2** | **100%** | Non-GAAP Revenue by Geography (Q1 2025 vs Q1 2024) | Region | Q1 2025 ($M) | Q1 2024 ($M) | | :--- | :--- | :--- | | North America | 56.9 | 55.2 | | Europe | 67.5 | 68.7 | | Rest of the World | 11.8 | 10.4 | - Annual Recurring Revenue (ARR) grew **11.8%** year-over-year, reaching **$187.4 million** in Q1 2025 compared to $167.6 million in Q1 2024[25](index=25&type=chunk) - Adjusted Free Cash Flow for Q1 2025 was **$23.0 million**, a significant increase from $17.1 million in Q1 2024[30](index=30&type=chunk) [Debentures Covenants](index=12&type=section&id=Debentures%20Covenants) The company confirmed compliance with all financial covenants for its Series B Debentures as of March 31, 2025 - The company was in **compliance with all three financial covenants** for its Series B Debentures as of March 31, 2025[34](index=34&type=chunk) Covenant Compliance Status | Covenant | Target | Actual | | :--- | :--- | :--- | | Shareholders' Equity | > $120M | $460.6M | | Net Financial Indebtedness to Net Capitalization Ratio | < 65% | (67.66)% | | Net Financial Indebtedness to EBITDA Ratio | < 5.5 | (1.80) |

Financial Performance - Sapiens International Corporation reported Q1 2025 revenue of $136.1 million, a 1.4% increase from $134.2 million in Q1 2024 [2][18] - Gross profit for Q1 2025 was $60.7 million, up 5.4% from $57.6 million in Q1 2024, resulting in a gross margin of 44.6%, an increase of 170 basis points [2][18] - Operating income rose to $21.2 million, a 3.3% increase from $20.5 million in Q1 2024, with an operating margin of 15.6% [2][18] - Net income attributable to Sapiens' shareholders was $17.9 million, reflecting a 3.3% increase from $17.4 million in Q1 2024 [2][18] Strategic Developments - The company signed deals with new and existing customers and completed two targeted acquisitions, Candela and AdvantageGo, enhancing its global presence and solution offerings [3] - Sapiens is experiencing increased demand for its AI-driven insurance platforms and strong customer adoption of its SaaS model [3] Guidance and Outlook - The company raised its 2025 non-GAAP revenue guidance to a range of $574 million to $578 million, up from the previous guidance of $553 million to $558 million [3] - Non-GAAP operating profit is expected to be between $94 million and $96 million, with an operating margin of 16.5% at the midpoint [3] Geographic Revenue Breakdown - In Q1 2025, revenue from North America was $56.9 million, Europe contributed $67.5 million, and the Rest of the World accounted for $11.8 million [22] - Software products and recurring post-production services represented 79.4% of total revenues, while pre-production implementation services accounted for 20.6% [22] Non-GAAP Financial Measures - Non-GAAP gross profit for Q1 2025 was $63.0 million, with a non-GAAP gross margin of 46.3% [2][19] - Adjusted EBITDA for Q1 2025 was $25.5 million, compared to $25.4 million in Q1 2024 [20] Cash Flow and Financial Position - Cash flow from operating activities for Q1 2025 was $25.4 million, an increase from $18.5 million in Q1 2024 [26] - As of March 31, 2025, total assets were $714.0 million, with total liabilities of $253.6 million, resulting in shareholders' equity of $460.6 million [28][32]

Chesapeake Utilities (CPK) came out with quarterly earnings of $2.22 per share, missing the Zacks Consensus Estimate of $2.28 per share. This compares to earnings of $2.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.63%. A quarter ago, it was expected that this energy and utility company would post earnings of $1.67 per share when it actually produced earnings of $1.63, delivering a surprise of -2.40%.Over the last four ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-11590 CHESAPEAKE UTILITIES CORPORATION (Exact name of registrant as specified in its charter) Delaware 51-0064146 (State or other jurisdic ...