Formula Systems ( (FORTY) ) has released a notification of late filing.
Formula Systems (1985) Ltd. has announced a delay in filing its annual report on Form 20-F (Yearly Report) for the financial period ending December 31, 2024. The primary reason for the delay is the dependency on the financial statements of its subsidiary, Magic Software Enterprises Ltd, which also experienced a delay. This has impacted Formula Systems’ ability to compile its own consolidated financial statements in time. The company anticipates filing the report by May 15, 2025, within the extension period allowed. Formula Systems has stated that no significant changes in financial results are expected in the forthcoming report. The company remains committed to compliance, as indicated by the signature of Asaf Berenstin, Chief Financial Officer, on the notification.
Spark’s Take on FORTY Stock
According to Spark, TipRanks’ AI Analyst, FORTY is a Outperform.
Formula Systems scores well on financial performance due to its revenue growth and strong cash flow, though there is a need to address profitability. Technical indicators suggest positive momentum, but valuation metrics indicate the stock is fairly priced without significant upside potential. The lack of earnings call and corporate events information limits further insights. The overall stock score reflects a stable but cautious outlook.
To see Spark’s full report on FORTY stock, click here.
More about Formula Systems
YTD Price Performance: 7.91%
Average Trading Volume: 1,149
Technical Sentiment Signal: Strong Sell
Current Market Cap: $1.38B
See more data about FORTY stock on TipRanks’ Stock Analysis page.