Sapiens Reports Q4 and Full Year 2020 Financial Results
HOLON, Israel, Feb. 25, 2021 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, and a member of the Formula Group (NASDAQ: FORTY) (TASE: FORT), today announced its financial results for the fourth quarter and full year ended December 31, 2020.
Summary Results for Fourth Quarter 2020 (USD in millions, except per share data)
GAAP
Non-GAAP
Q4 2020
Q4 2019
% Change
Q4 2020
Q4 2019
% Change
Revenue
$101.7
$86.7
17.2%
$102.9
$86.7
18.7%
Gross Profit
$41.4
$34.9
18.4%
$47.0
$38.4
22.5%
Gross Margin
40.7%
40.3%
40 bps
45.7%
44.3%
140bps
Operating
