Sapiens International Corporation N.V. (TLV: SPNS)

SPNS Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	538.93	514.58	474.74	461.04	382.9	325.67
Revenue Growth (YoY)	7.10%	8.39%	2.97%	20.41%	17.57%	12.41%
Cost of Revenue	305.02	294.99	274.57	273.19	226.93	196.15
Gross Profit	233.91	219.59	200.16	187.84	155.97	129.52
Selling, General & Admin	83.48	76.93	75.02	76.34	68.03	54.27
Research & Development	65.86	63.48	58.66	54.01	41.36	37.38
Operating Expenses	149.34	140.4	133.67	130.36	109.39	91.65
Operating Income	84.57	79.19	66.49	57.49	46.58	37.87
Interest Expense	-	-	-1.43	-2.91	-3.92	-3.03
Interest & Investment Income	8.37	2.95	-	-	-	0.38
Currency Exchange Gain (Loss)	-4.36	-4.36	-0.83	3	0.34	-0.12
Other Non Operating Income (Expenses)	-0.34	-0.34	-0.15	-0.29	-0.22	-
EBT Excluding Unusual Items	88.24	77.44	64.09	57.29	42.78	35.1
Merger & Restructuring Charges	-0.33	-0.33	-	-	-1.58	-
Other Unusual Items	-	-	1.47	-	-	-
Pretax Income	87.91	77.12	65.55	57.29	41.2	35.1
Income Tax Expense	16.44	14.25	12.62	9.96	7.04	8.61
Earnings From Continuing Operations	71.48	62.87	52.93	47.32	34.16	26.49
Minority Interest in Earnings	-0.19	-0.42	-0.34	-0.15	-0.38	-0.24
Net Income	71.29	62.44	52.6	47.17	33.78	26.25
Net Income to Common	71.29	62.44	52.6	47.17	33.78	26.25
Net Income Growth	21.16%	18.73%	11.50%	39.66%	28.68%	90.40%
Shares Outstanding (Basic)	56	55	55	55	51	50
Shares Outstanding (Diluted)	56	56	56	56	52	51
Shares Change (YoY)	0.85%	0.27%	-0.04%	6.58%	2.97%	1.09%
EPS (Basic)	1.28	1.13	0.95	0.86	0.66	0.52
EPS (Diluted)	1.27	1.12	0.95	0.85	0.65	0.52
EPS Growth	19.80%	17.89%	11.76%	30.77%	25.00%	87.96%
Free Cash Flow	76.03	76.85	41.02	76.76	55.62	54.68
Free Cash Flow Per Share	1.36	1.38	0.74	1.38	1.07	1.08
Dividend Per Share	0.570	0.540	0.480	0.470	0.510	-
Dividend Growth	11.76%	12.50%	2.13%	-7.84%	-	-
Gross Margin	43.40%	42.67%	42.16%	40.74%	40.73%	39.77%
Operating Margin	15.69%	15.39%	14.01%	12.47%	12.17%	11.63%
Profit Margin	13.23%	12.13%	11.08%	10.23%	8.82%	8.06%
Free Cash Flow Margin	14.11%	14.93%	8.64%	16.65%	14.53%	16.79%
EBITDA	99.56	94.86	82.89	78.48	63.41	51.34
EBITDA Margin	18.47%	18.43%	17.46%	17.02%	16.56%	15.76%
D&A For EBITDA	14.99	15.66	16.4	20.99	16.83	13.47
EBIT	84.57	79.19	66.49	57.49	46.58	37.87
EBIT Margin	15.69%	15.39%	14.01%	12.47%	12.17%	11.63%
Effective Tax Rate	18.70%	18.48%	19.25%	17.39%	17.09%	24.53%

Source: S&P Capital IQ. Standard template. Financial Sources.