Magic Software Enterprises Ltd. (NASDAQ:MGIC) Q4 2022 Earnings Conference Call March 9, 2023 10:00 AM ET

Company Participants

Guy Bernstein - Chief Executive Officer

Asaf Berenstin - Chief Financial Officer

Yuval Lavi - Chief Technology Officer

Conference Call Participants

Chris Reimer - Barclays

Kate Cranston - William Blair

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Magic Software Enterprises 2022 Fourth Quarter and Full Year Financial Results Conference Call. Magic's fourth quarter 2022 earnings release was issued before the market opened this morning, and it has been posted on the company's website at www.magicsoftware.com.

At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. [Operator Instructions] With us on the line today are Magic's CEO, Mr. Guy Bernstein; Magic's CEO – the CFO, Mr. Asaf Berenstin; and Magic's CTO, Mr. Yuval Lavi.

Magic's fourth quarter 2022 earnings release was issued before the market opened this morning and it has been posted on the company's website. Before we start, I would like to remind everyone that this conference call may contain projections or other forward-looking statements. The safe harbor provision provided in the press release issued today also applies to the context of this call. Magic expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations or otherwise.

Also, during the course of today's call, management will refer to non-GAAP financial measures. A reconciliation schedule showing GAAP versus non-GAAP results has been provided in the press release issued before the market opened this morning. A replay of this call will be available after the call on our Investor Relations section of the company website.

I will now turn the call over to Mr. Asaf Berenstin, CFO of Magic Software. Please go ahead.

Asaf Berenstin

Thank you, operator, and thank you, everyone, for joining us today as we report our fourth quarter and full year 2022 financial results. During the call today, I will review highlights from our fourth quarter results and provide an overview of our achievements. We appreciate your continued support and look forward to sharing our progress with you.

During the year, we continued to make big strides across multiple fronts of our business, which is reflected by our record-breaking results exceeding $500 million in revenues for the first time and with double-digit growth recorded across all of our key financial indices for the year, revenues, gross profit, operating income, EBITDA, net income and dividends distributed to our shareholders.