Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Magic Software Enterprises Ltd (MGIC)
NASDAQ:MGIC
Holding MGIC?
Track your performance easily
Earnings Data
Report Date
Mar 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.25Last Year’s EPS
$0.24Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 18, 2024
|% Change Since: 5.43%
|Next Earnings Date:Mar 10, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a mixed performance with strong growth in Israel and improved operating margins, but challenges in the U.S. market and cash flow. Despite these challenges, the company remains optimistic with positive guidance.Company Guidance
During the Magic Software Enterprises Q3 2024 earnings call, CFO Asaf Berenstin highlighted a revenue increase to $143 million, marking a 10.4% year-over-year growth. Israeli operations contributed significantly with an 18.1% increase to $64.7 million, fueled by high demand in cloud, DevOps, AI, and defense sectors, and an 11% rise in billable days due to the timing of Jewish holidays. North America saw a modest 1.5% sequential growth to $59.3 million, with revenues constituting 41% of the total. Despite challenges, the non-GAAP operating margin for the first nine months remained robust at 13.4%, reflecting a 20 basis point improvement from the prior year. The full-year revenue guidance was updated to a range of $544 million to $550 million, with Q4 projections between $134 million and $140 million, acknowledging the impact of fewer billable days due to holidays.Revenue Growth
Revenue in Q3 2024 increased to $143 million, up approximately 10.4% from Q3 2023.
Strong Performance in Israel
Israeli operations revenue increased by 18.1% year-over-year, driven by demand in cloud, DevOps, AI, and defense services.
Operating Margin Improvement
Non-GAAP operating margin for the first 9 months of 2024 was approximately 13.4%, 20 basis points higher than the previous year.
Increase in Non-GAAP Operating Income
Non-GAAP operating income for Q3 2024 increased by 7.2% to $18.5 million compared to the same period last year.
Positive Guidance
Raised lower end of 2024 annual revenue guidance, with expected full year revenue between $544 million and $550 million.
---
MGIC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
MGIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 18, 2024 | $11.42 | $11.01 | -3.59% |
| Aug 14, 2024 | $10.33 | $10.22 | -1.06% |
| May 16, 2024 | $12.61 | $11.47 | -9.04% |
| Mar 13, 2024 | $10.47 | $11.29 | +7.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Magic Software Enterprises Ltd (MGIC) report earnings?
Magic Software Enterprises Ltd (MGIC) is schdueled to report earning on Mar 10, 2025, TBA Not Confirmed.
What is Magic Software Enterprises Ltd (MGIC) earnings time?
Magic Software Enterprises Ltd (MGIC) earnings time is at Mar 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MGIC EPS forecast?
MGIC EPS forecast for the fiscal quarter 2024 (Q4) is $0.25.
---