Sapiens International Corporation NV
NASDAQ:SPNS
Income Statement
Earnings Waterfall
Sapiens International Corporation NV
Revenue
|
514.6m
USD
|
Cost of Revenue
|
-295m
USD
|
Gross Profit
|
219.6m
USD
|
Operating Expenses
|
-140.7m
USD
|
Operating Income
|
78.9m
USD
|
Other Expenses
|
-16.4m
USD
|
Net Income
|
62.4m
USD
|
Income Statement
Sapiens International Corporation NV
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
104
N/A
|
141
+35%
|
146
+4%
|
152
+4%
|
158
+4%
|
165
+5%
|
172
+4%
|
179
+4%
|
186
+4%
|
191
+3%
|
198
+4%
|
208
+5%
|
216
+4%
|
223
+3%
|
239
+7%
|
255
+6%
|
269
+6%
|
284
+5%
|
287
+1%
|
288
+0%
|
290
+1%
|
296
+2%
|
303
+2%
|
312
+3%
|
326
+4%
|
339
+4%
|
353
+4%
|
368
+4%
|
383
+4%
|
402
+5%
|
423
+5%
|
444
+5%
|
461
+4%
|
469
+2%
|
473
+1%
|
475
+0%
|
475
+0%
|
482
+1%
|
492
+2%
|
503
+2%
|
515
+2%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(66)
|
(89)
|
(93)
|
(96)
|
(99)
|
(102)
|
(106)
|
(108)
|
(111)
|
(114)
|
(118)
|
(124)
|
(130)
|
(138)
|
(152)
|
(165)
|
(176)
|
(182)
|
(182)
|
(181)
|
(180)
|
(183)
|
(186)
|
(190)
|
(196)
|
(204)
|
(210)
|
(219)
|
(227)
|
(238)
|
(251)
|
(263)
|
(273)
|
(276)
|
(277)
|
(276)
|
(275)
|
(278)
|
(283)
|
(289)
|
(295)
|
|
Gross Profit |
38
N/A
|
52
+35%
|
53
+3%
|
56
+4%
|
58
+5%
|
62
+7%
|
66
+6%
|
70
+6%
|
74
+6%
|
77
+3%
|
80
+4%
|
83
+4%
|
86
+3%
|
85
-1%
|
87
+2%
|
90
+4%
|
94
+4%
|
101
+8%
|
105
+4%
|
108
+2%
|
110
+2%
|
112
+3%
|
117
+4%
|
123
+5%
|
130
+6%
|
136
+5%
|
143
+5%
|
150
+5%
|
156
+4%
|
164
+5%
|
172
+5%
|
181
+5%
|
188
+4%
|
193
+3%
|
197
+2%
|
199
+1%
|
200
+1%
|
204
+2%
|
208
+2%
|
214
+3%
|
220
+3%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(29)
|
(39)
|
(40)
|
(42)
|
(43)
|
(45)
|
(46)
|
(48)
|
(50)
|
(52)
|
(55)
|
(57)
|
(61)
|
(68)
|
(80)
|
(85)
|
(93)
|
(94)
|
(90)
|
(90)
|
(87)
|
(86)
|
(86)
|
(88)
|
(92)
|
(96)
|
(100)
|
(105)
|
(111)
|
(117)
|
(124)
|
(129)
|
(130)
|
(131)
|
(131)
|
(133)
|
(134)
|
(135)
|
(137)
|
(139)
|
(141)
|
|
Selling, General & Administrative |
(20)
|
(28)
|
(29)
|
(31)
|
(32)
|
(34)
|
(36)
|
(38)
|
(40)
|
(41)
|
(43)
|
(43)
|
(45)
|
(49)
|
(55)
|
(56)
|
(61)
|
(59)
|
(55)
|
(55)
|
(52)
|
(52)
|
(52)
|
(53)
|
(54)
|
(57)
|
(60)
|
(64)
|
(70)
|
(73)
|
(77)
|
(77)
|
(76)
|
(76)
|
(75)
|
(75)
|
(75)
|
(75)
|
(75)
|
(76)
|
(77)
|
|
Research & Development |
(9)
|
(12)
|
(12)
|
(12)
|
(11)
|
(11)
|
(11)
|
(10)
|
(10)
|
(11)
|
(13)
|
(14)
|
(17)
|
(19)
|
(24)
|
(29)
|
(32)
|
(35)
|
(35)
|
(35)
|
(34)
|
(34)
|
(34)
|
(35)
|
(37)
|
(39)
|
(39)
|
(40)
|
(41)
|
(44)
|
(48)
|
(51)
|
(54)
|
(55)
|
(56)
|
(57)
|
(59)
|
(60)
|
(61)
|
(63)
|
(63)
|
|
Operating Income |
9
N/A
|
13
+34%
|
13
+4%
|
14
+5%
|
15
+9%
|
18
+18%
|
20
+15%
|
22
+9%
|
24
+10%
|
25
+2%
|
25
+2%
|
26
+4%
|
25
-5%
|
17
-31%
|
8
-55%
|
6
-28%
|
1
-82%
|
7
+630%
|
15
+108%
|
18
+15%
|
23
+31%
|
26
+15%
|
31
+17%
|
34
+11%
|
38
+10%
|
40
+6%
|
43
+7%
|
45
+5%
|
45
N/A
|
47
+5%
|
48
+2%
|
52
+9%
|
58
+11%
|
62
+7%
|
65
+6%
|
66
+1%
|
67
+1%
|
69
+4%
|
72
+4%
|
75
+5%
|
79
+5%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
1
|
1
|
1
|
1
|
1
|
0
|
(1)
|
(2)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(3)
|
(3)
|
(2)
|
(0)
|
1
|
(2)
|
(2)
|
(2)
|
(3)
|
(1)
|
(1)
|
(1)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
2
|
0
|
0
|
0
|
0
|
|
Total Other Income |
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
(0)
|
|
Pre-Tax Income |
10
N/A
|
13
+34%
|
13
+4%
|
14
+6%
|
15
+7%
|
17
+15%
|
20
+15%
|
22
+10%
|
25
+12%
|
25
+3%
|
26
+3%
|
27
+4%
|
25
-6%
|
17
-33%
|
7
-62%
|
3
-49%
|
(2)
N/A
|
4
N/A
|
11
+187%
|
13
+20%
|
19
+42%
|
22
+16%
|
28
+24%
|
32
+15%
|
35
+11%
|
37
+5%
|
40
+9%
|
41
+3%
|
41
0%
|
44
+8%
|
45
+2%
|
50
+12%
|
57
+14%
|
62
+9%
|
64
+2%
|
64
+0%
|
66
+3%
|
66
+1%
|
71
+7%
|
74
+4%
|
77
+4%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(5)
|
(6)
|
(6)
|
(5)
|
(3)
|
(2)
|
(1)
|
(2)
|
(4)
|
(4)
|
(5)
|
(6)
|
(7)
|
(8)
|
(9)
|
(9)
|
(10)
|
(9)
|
(7)
|
(7)
|
(7)
|
(8)
|
(10)
|
(11)
|
(11)
|
(11)
|
(13)
|
(13)
|
(14)
|
(15)
|
(14)
|
|
Income from Continuing Operations |
9
|
12
|
12
|
13
|
15
|
16
|
18
|
19
|
20
|
20
|
21
|
22
|
20
|
13
|
4
|
1
|
(3)
|
2
|
8
|
10
|
14
|
16
|
21
|
23
|
27
|
28
|
31
|
33
|
34
|
37
|
38
|
42
|
47
|
51
|
53
|
53
|
53
|
53
|
57
|
59
|
63
|
|
Income to Minority Interest |
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
|
Net Income (Common) |
9
N/A
|
12
+33%
|
12
+3%
|
13
+6%
|
15
+10%
|
16
+11%
|
18
+10%
|
19
+6%
|
20
+7%
|
20
+1%
|
21
+3%
|
21
+3%
|
19
-10%
|
12
-37%
|
3
-73%
|
1
-73%
|
0
-56%
|
5
+1 225%
|
11
+106%
|
13
+21%
|
14
+5%
|
16
+17%
|
21
+30%
|
23
+10%
|
26
+13%
|
28
+6%
|
30
+9%
|
32
+6%
|
34
+5%
|
37
+9%
|
38
+3%
|
42
+11%
|
47
+13%
|
51
+9%
|
53
+3%
|
53
+0%
|
53
-1%
|
53
+1%
|
56
+7%
|
59
+4%
|
62
+6%
|
|
EPS (Diluted) |
0.21
N/A
|
0.24
+14%
|
0.27
+13%
|
0.28
+4%
|
0.3
+7%
|
0.33
+10%
|
0.37
+12%
|
0.38
+3%
|
0.41
+8%
|
0.41
N/A
|
0.42
+2%
|
0.44
+5%
|
0.39
-11%
|
0.25
-36%
|
0.07
-72%
|
0.02
-71%
|
0
N/A
|
0.1
N/A
|
0.21
+110%
|
0.26
+24%
|
0.28
+8%
|
0.31
+11%
|
0.41
+32%
|
0.46
+12%
|
0.52
+13%
|
0.55
+6%
|
0.59
+7%
|
0.62
+5%
|
0.65
+5%
|
0.66
+2%
|
0.7
+6%
|
0.76
+9%
|
0.85
+12%
|
0.93
+9%
|
0.95
+2%
|
0.95
N/A
|
0.95
N/A
|
0.95
N/A
|
1.02
+7%
|
1.06
+4%
|
1.12
+6%
|