Sapiens (SPNS) Tops Q3 EPS by 4c, Revenues Beat

Sapiens (NASDAQ: SPNS) reported Q3 EPS of $0.27, $0.04 better than the analyst estimate of $0.23. Revenue for the quarter came in at $98 million versus the consensus estimate of $96.69 million.

"Sapiens delivered strong execution across key geographies and product lines to grow third quarter non-GAAP revenue by 18.5%, fueled by outstanding strategic performance in Europe and North America and leveraging existing customer relationships to upsell products and services. Non-GAAP Operating margin increased to a record of 18.2%, an increase of 180 basis points year-over-year," said Roni Al-Dor, Sapiens president and CEO.

• Lately our products received excellent recognition from the analysts and research community across both Life and P&C, and in North America and Europe:
• In Europe, we have been recognized as Leaders in the 2 Gartner Magic Quadrant for policy administration and insurance platform for both our Life and P&C solutions

In North America, we have received the Excellent award by Celent in the Life New Business and Underwriting report "Our outlook for 2020 has improved despite COVID-19. We continue to sign new business and increase our revenue from existing customers. In addition, the Delphi acquisition enhances our position as a leading solutions provider in the MPL market in North America. As such, we are raising our 2020 revenue guidance range," concluded Roni Al-Dor. "Our revised 2020 non-GAAP revenue range is now $381 million to $383 million, as compared to our prior range of $376 million to $381 million., we are also increasing the range of our non-GAAP operating margin for 2020 to 17.6% to 17.7% from prior range of 16.5% to 16.9%."

For earnings history and earnings-related data on Sapiens (SPNS) click here.

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