Sapiens International Corporation N.V. (NASDAQ:SPNS) Q2 2022 Earnings Conference Call August 3, 2022 9:30 AM ET

Company Participants

Dina Vince - Head of Investor Relations

Roni Dor - President & Chief Executive Officer

Roni Giladi - Chief Financial Officer

Alex Zukerman - Chief Strategy Officer

Conference Call Participants

JiaXian Huang - Jefferies

Mayank Tandon - Needham & Company

Dylan Becker - William Blair

Chris Reimer - Barclays

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Sapiens International Corporation's 2022 Second Quarter Financial Results Conference Call. Sapiens second quarter 2020 earnings release was issued before the market opened this morning and it has been posted on the company's website at www.sapiens.com. [Operator Instructions]

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 second quarter 2022 results. With me on the call today are Mr. Roni 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 provision in the press release issued today also apply to the content of 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 sphere or expectations or otherwise. On today's call, we will refer to the non-GAAP financial measures. Our constellation schedule showing GAAP vs 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 now turn the call over to Mr. A - Roni Dor, President and Chief Executive. Roni?

Roni Dor

Thank you, Dina. I would like to welcome everyone to our call today. This quarter marks for us a steady and a confident step forward.

Our revenue in the second quarter revenue grew 3.1% year-over-year to $118.6 million or 8.9% on a constant currency basis. This reflects our ongoing growth from existing and new customers. In line with our strategy, we continue to grow our employee base offshore to support this growth while improving our profit. We now have over 2,000 employees in India to support our future growth and scale. These prudent actions increased our second quarter operating profit and lifted operating margin to 17.5%, an improvement of 30 basis points year-over-year.