Top Group Software Income Statement

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	292.32	268.54	236.73	213.88	176.8
Revenue Growth (YoY)	8.86%	13.44%	10.68%	20.98%	39.88%
Cost of Revenue	184.04	171.94	154.17	135.04	110.54
Gross Profit	108.28	96.6	82.55	78.85	66.26
Selling, General & Admin	50.79	46.6	39.99	36.72	32.57
Research & Development	29.02	25.65	22.66	21.64	16.84
Operating Expenses	79.81	72.25	62.65	58.36	49.4
Operating Income	28.47	24.36	19.91	20.48	16.85
Interest Expense	-5.64	-5.34	-4.7	-2.63	-1.34
Interest & Investment Income	0.34	0.32	0.13	0.15	0.08
Currency Exchange Gain (Loss)	-0.27	-0.04	-0.09	-0.04	-0.12
Other Non Operating Income (Expenses)	-0.65	-0.61	-0.55	-0.38	-0.8
EBT Excluding Unusual Items	22.25	18.69	14.69	17.57	14.67
Other Unusual Items	0.05	1.06	-0.23	0.65	0.58
Pretax Income	22.3	19.76	14.47	18.23	15.25
Income Tax Expense	5.17	3.61	1.9	3.02	1.14
Earnings From Continuing Operations	17.13	16.15	12.57	15.21	14.11
Minority Interest in Earnings	-1.03	-0.62	-0.46	-0.27	-0.03
Net Income	16.1	15.53	12.11	14.94	14.09
Net Income to Common	16.1	15.53	12.11	14.94	14.09
Net Income Growth	3.65%	28.30%	-18.95%	6.03%	50.91%
Shares Outstanding (Basic)	21	21	21	21	21
Shares Outstanding (Diluted)	21	21	21	21	21
EPS (Basic)	0.76	0.73	0.57	0.70	0.66
EPS (Diluted)	0.76	0.73	0.57	0.70	0.66
EPS Growth	3.65%	28.30%	-18.95%	6.03%	50.91%
Free Cash Flow	34.6	18.92	18.48	15.55	10.77
Free Cash Flow Per Share	1.63	0.89	0.87	0.73	0.51
Dividend Per Share	0.378	0.350	0.280	0.240	0.330
Dividend Growth	7.88%	25.00%	16.67%	-27.27%	50.00%
Gross Margin	37.04%	35.97%	34.87%	36.86%	37.48%
Operating Margin	9.74%	9.07%	8.41%	9.58%	9.53%
Profit Margin	5.51%	5.78%	5.11%	6.98%	7.97%
Free Cash Flow Margin	11.83%	7.05%	7.81%	7.27%	6.09%
EBITDA	31.98	27.84	30.97	29.59	23.97
EBITDA Margin	10.94%	10.37%	13.08%	13.84%	13.56%
D&A For EBITDA	3.51	3.48	11.07	9.11	7.12
EBIT	28.47	24.36	19.91	20.48	16.85
EBIT Margin	9.74%	9.07%	8.41%	9.58%	9.53%
Effective Tax Rate	23.19%	18.26%	13.10%	16.56%	7.45%
Advertising Expenses	1.29	1.07	1.15	1.12	0.83

Source: S&P Global Market Intelligence. Standard template. Financial Sources.