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Sapiens
(NASDAQ:SPNS)
Sapiens (SPNS) vs. SPDR S&P 500 ETF (SPY)
Sapiens Business Overview & Revenue Model
Sapiens Earnings Call Summary
Sapiens Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 544.24M | 542.38M | 514.58M | 474.74M | 461.04M | 382.90M |
| Gross Profit | 242.78M | 238.11M | 219.59M | 200.16M | 187.84M | 155.97M |
| EBITDA | 105.81M | 105.92M | 94.86M | 83.52M | 84.12M | 63.62M |
| Net Income | 72.75M | 72.18M | 62.44M | 52.59M | 47.17M | 33.77M |
Balance Sheet | ||||||
| Total Assets | 713.98M | 691.71M | 689.62M | 666.75M | 714.99M | 714.16M |
| Cash, Cash Equivalents and Short-Term Investments | 205.86M | 216.19M | 202.12M | 180.28M | 210.24M | 182.56M |
| Total Debt | 43.20M | 63.75M | 87.05M | 116.57M | 148.36M | 177.17M |
| Total Liabilities | 239.64M | 212.08M | 239.68M | 265.49M | 306.27M | 330.47M |
| Stockholders Equity | 460.59M | 479.63M | 447.27M | 400.50M | 406.55M | 381.69M |
Cash Flow | ||||||
| Free Cash Flow | 78.77M | 79.35M | 70.16M | 34.73M | 68.69M | 47.01M |
| Operating Cash Flow | 88.87M | 82.22M | 79.42M | 43.78M | 80.54M | 58.26M |
| Investing Cash Flow | -9.85M | 13.41M | -72.78M | -12.44M | 125.00K | -114.60M |
| Financing Cash Flow | -53.18M | -56.28M | -43.34M | -58.38M | -39.96M | 156.51M |
Sapiens Technical Analysis
Sapiens Risk Analysis
Sapiens Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $1.94B | 41.10 | 10.75% | 0.41% | 31.41% | -40.89% | |
68 Neutral | $2.41B | 35.39 | 14.27% | 1.37% | 3.08% | -1.02% | |
65 Neutral | $2.31B | ― | -11.47% | ― | 29.63% | 29.87% | |
65 Neutral | $3.88B | ― | -3.52% | ― | -8.80% | -657.91% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
48 Neutral | $1.42B | ― | -12.65% | ― | 4.90% | -820.72% | |
46 Neutral | $1.60B | ― | -29.09% | 5.39% | -19.48% | -398.43% |
Sapiens Corporate Events
On October 9, 2025, Sapiens’ AdvantageGo launched Underwriting Workbench 3.0, a significant upgrade aimed at transforming underwriting processes in the property and casualty markets of EMEA and North America. This new version introduces an intelligent business management solution with features like non-linear workflows, real-time analytics, and seamless integration with Microsoft tools, enhancing decision-making and operational efficiency for underwriters. The release is expected to strengthen Sapiens’ market position and drive expansion in the global P&C market.
On September 17, 2025, Sapiens International Corporation announced the successful completion of a major upgrade of the IDITSuite for the Medical Protection Society (MPS), a leading protection organization for healthcare professionals. The upgrade, which advanced MPS’ core suite by six versions, provides future-proof architecture, extended lifecycle support, enhanced functionality, and improved performance and security. This strategic enhancement is expected to allow MPS to react faster to industry developments, improve user experience, and reduce total cost of ownership, showcasing Sapiens’ commitment to empowering clients with robust, forward-looking solutions.
On September 10, 2025, Sapiens International Corporation announced the first implementation of its Automated Testing Services (ATS) with Encova Insurance, a multi-line mutual insurer. This deployment aims to streamline testing processes, improve software quality, and enhance operational efficiency for Encova’s workers’ compensation operations. The implementation, which began in April 2025, is expected to significantly reduce testing time and improve the consistency of software releases, allowing Encova to focus on strategic priorities. The use of Microsoft Playwright and a custom framework by Sapiens will provide Encova with personalized support and increased operational flexibility.
On September 9, 2025, Sapiens International Corporation launched an enhanced version of its CoreSuite for Property & Casualty for the North American insurance market. The new version, 13.0, features significant upgrades to claims, billing, and underwriting, aimed at improving operational efficiency and user experience. These enhancements are designed to address challenges faced by North American P&C clients, such as visibility into underwriting and integration complexities. The release is part of Sapiens’ strategy to leverage corporate investments to support customer needs, and it includes AI-powered tools for smarter underwriting and streamlined billing processes.
On August 20, 2025, Sapiens International Corporation announced that Bankers Insurance Group has chosen Sapiens CoreSuite for Property & Casualty to modernize its core systems. This strategic partnership aims to support Bankers’ growth strategy by enhancing operational efficiency and scalability, starting with builder’s risk and business owner’s policy. The transition to Sapiens’ modern platform will enable Bankers to improve service levels, reduce manual processing, and better navigate the competitive insurance market, ultimately positioning them for long-term growth.
On August 12, 2025, Sapiens International Corporation N.V. entered into a Merger Agreement with SI Swan UK Bidco Limited, SI Swan Guernsey Holdco Limited, and SI Swan Cayman Merger Sub Ltd. The agreement outlines a merger where the Merger Sub will merge with and into Sapiens, with Sapiens being the surviving entity. This strategic move is significant for Sapiens as it could impact its market positioning and stakeholder relations, although it is subject to various conditions and approvals. The announcement also includes a Support Agreement with a Rollover Shareholder concerning a substantial number of common shares, indicating strong backing for the merger.
On August 13, 2025, Sapiens International Corporation announced its financial results for the second quarter of 2025, ending June 30. The company reported a revenue increase of 3.5% compared to the previous year, reaching $141.6 million. However, the operating income and net income showed a decline of 23.2% and 23.6%, respectively. During the quarter, Sapiens completed the acquisitions of Advantage Go and Candella, which are expected to bolster growth in its P&C and Life segments. The company emphasized its strategic focus on platform innovation, cloud adoption, and global expansion in the Life & Annuities business to drive accelerated growth in 2026. Additionally, Sapiens announced a definitive agreement to be acquired by Advent, leading to the cancellation of its scheduled Q2 2025 earnings call.
On August 12, 2025, Sapiens International Corporation N.V. announced its acquisition by Advent, a global private equity investor, for $43.50 per share in an all-cash transaction valuing the company at approximately $2.5 billion. This acquisition marks a significant milestone for Sapiens, enabling accelerated innovation and global reach expansion in the insurance technology sector. The transaction, approved by Sapiens’ Board of Directors, offers a 64% premium over the company’s undisturbed share price and is expected to close in late 2025 or early 2026. Upon completion, Sapiens will become a privately held company, with existing shareholder Formula Systems retaining a minority stake. The merger is anticipated to enhance Sapiens’ digital transformation capabilities, leveraging Advent’s resources and expertise to drive growth and innovation in SaaS-based insurance solutions.
On August 7, 2025, Sapiens International Corporation announced that its UnderwritingPro solution has been recognized as a ‘Dominant Provider’ in Datos Insights’ 2025 report on Life/Annuity/Benefits New Business and Underwriting Systems. This accolade underscores the strength of Sapiens’ underwriting technology, which integrates AI and offers robust capabilities for automating underwriting decisions. The recognition highlights Sapiens’ strategic commitment to innovation and positions the company favorably in the competitive insurance technology market, potentially enhancing its appeal to stakeholders and expanding its market influence.
On August 6, 2025, Sapiens International Corporation and Earnix announced the launch of the Earnix Price-It Connector for Sapiens IDITSuite, aimed at enhancing operational efficiency for P&C insurers in EMEA and APAC. This partnership integrates Earnix’s AI-driven pricing and rating capabilities with Sapiens’ policy administration system, enabling insurers to optimize pricing strategies, improve profitability, and streamline operations through seamless data flow and real-time premium calculations.
On July 23, 2025, Sapiens International Corporation announced that it will release its financial results for the second quarter of 2025 on August 13, 2025. The company will host a conference call and webcast to discuss the results, highlighting its ongoing commitment to transparency and stakeholder engagement. This announcement underscores Sapiens’ strategic focus on maintaining its leadership position in the insurance software industry and its dedication to fostering strong relationships with investors and customers.