Sapiens International Corporation N.V. (NASDAQ:SPNS) Q3 2022 Earnings Conference Call November 3, 2022 9:30 AM ET

Company Participants

Dina Vince - Head of Investor Relations

Roni Al-Dor - President & Chief Executive Officer

Roni Giladi - Chief Financial Officer

Alex Zukerman - Chief Strategy Officer

Conference Call Participants

Dylan Becker - William Blair

Chris Reimer - Barclays

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Sapiens International Corporation's 2022 Third Quarter Financial Results Conference Call. Sapiens third quarter 2022 earnings release was issued before the market opened this morning and has been posted on the company's website at www.sapiens.com. All participants are presently in listen-only mode. Following management’s formal presentation, instructions will be given for the question-and-answer session.

I would now like to hand the call to Ms. Dina Vince, Sapiens' Head of Investor Relations. Dina, would you like to begin?

Dina Vince

Thank you operator. I would like to welcome all of you to Sapiens' conference call to review our third quarter of 2022 results. With me on the call today are Mr. Roni Al-Dor, President and CEO; Mr. Roni Giladi, CFO; and Mr. Alex Zukerman, Chief Strategy Officer.

Following the summary of the results, we will all be available to answer any questions. Before we start, I would like to remind everyone that this conference call may contain projections or other forward-looking statements. The Safe Harbor provisions in the press release issued today also apply to the content on the call. Sapiens 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.

On today's call, we will refer to the non-GAAP financial measures. Our reconciliation schedule showing GAAP versus non-GAAP results has been provided in our 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 or via the website's link, which is available in the earnings release we published today.

I will turn the call over to Roni Al-Dor, President and CEO of Sapiens. Roni?

Roni Al-Dor

Thank you, Dina. I want to welcome everyone to our call today. This quarter we delivered solid results despite the currency headwinds. Our revenue reached $119 million and on a constant currency basis we grew 8%. Operating profit this quarter reached $21 million, representing an operating margin of 17.6%. On the constant currency basis, our operating profit margin was 18.9% showing continuous improvement quarter-over-quarter for the past year.