Quarterly ResultMay 28, 2026, 08:07 AM
Formula Systems Q1 Revenue +19.2% to $738.3M; Net Income +84.5% to $35.6M
AI Summary
Formula Systems reported record-breaking financial results for the first quarter ended March 31, 2026, with revenues increasing by 19.2% to $738.3 million and net income attributable to shareholders surging by 84.5% to $35.6 million. The company also announced a special cash dividend of $13.045 per share, totaling $200.0 million, following the acquisition of Sapiens International Corporation. Additionally, its subsidiary Matrix IT Ltd. completed a merger with Magic Software Enterprises Ltd., strengthening its international presence and technological capabilities.
Key Highlights
- Matrix IT Ltd. and Magic Software Enterprises Ltd. completed their merger on February 24, 2026.
- Formula Systems announced a special cash dividend of $13.045 per share, totaling approximately $200.0 million.
- Revenues for Q1 2026 increased by 19.2% year-over-year to a record-breaking $738.3 million.
- Net income attributable to Formula Systems' shareholders for Q1 2026 increased by 84.5% year-over-year to an all-time high of $35.6 million.
- Operating income for Q1 2026 increased by 65.6% year-over-year to a record-breaking $82.0 million.
- Excluding a $16.8 million capital gain, operating income increased by 31.7% year-over-year to $65.2 million.
- Consolidated cash and cash equivalents totaled approximately $1.18 billion as of March 31, 2026.
- Total equity as of March 31, 2026, was $1.82 billion, representing 50.1% of total consolidated statements of financial position.
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