Sapiens International Corporation N.V. (NASDAQ:SPNS) Q3 2024 Earnings Conference Call November 11, 2024 9:00 AM ET
Company Participants
Yaffa Cohen-Ifrah - Chief Marketing Officer & Head of IR
Roni Al-Dor - President & CEO
Roni Giladi - CFO
Alex Zukerman - Chief Strategy Officer
Conference Call Participants
Sam Salvas - Needham & Company
Dylan Becker - William Blair
Surinder Thind - Jefferies
Elyse Kanner - JPMorgan
Tavy Rosner - Barclays
Operator
Welcome to Sapiens International Corporation's 2024 Third Quarter Financial Results Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.
It is now my pleasure to introduce your host, Yaffa Cohen-Ifrah, Chief Marketing Officer and Head of Investor Relations. Thank you. Yaffa, you may now begin.
Yaffa Cohen-Ifrah
Thank you, operator. I want to welcome you to Sapiens conference call to review our third quarter results for 2024. 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 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 this call. Sapiens expressly disclaim 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. A reconciliation of GAAP to non-GAAP results has been provided in our press release, which was 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's website. or via the website link, which is available in the earnings release we published today.
I will now turn the call over to Roni Al-Dor, President and CEO of Sapiens. Roni?
Roni Al-Dor
Good morning, everyone, and thank you for joining us today for Sapiens' third quarter 2024 earnings call. Our revenue in the third quarter was $137 million, a 4.8% increase compared to last year. This quarter continued to showcase solid execution across all of our key regions.
Let's start with North America, where we secured new business wins during the quarter. I want to highlight a few. Continental General chose the cloud-based Sapiens insurance platform for life and annuity to improve its capabilities and modernize its platform to future insurance products. These improvements will enhance its ability to scale in new markets and streamline implementation of its long-term care insurers specialty while expanding third-party administrator, TPA services through its affiliates.