Sapiens International Corporation (SPNS) has released an update.
Sapiens International Corporation reports a strong first quarter in 2024, with a 7.6% increase in total revenue to $134 million and a significant 9.5% revenue growth in North America. The company’s annualized recurring revenue rose by 12.7% to $168 million, and an operating profit of $24 million was achieved, indicating an operating margin of 18.1%. The CEO, Roni Al-Dor, emphasizes the successful adoption of a SaaS model, bolstered by a strategic partnership with Microsoft, and reaffirms the 2024 guidance for non-GAAP revenues and operating margin.
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