{"id":824257,"date":"2025-03-11T08:46:42","date_gmt":"2025-03-11T12:46:42","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/magic-software-reports-fourth-quarter-and-full-year-2024-financial-results\/"},"modified":"2025-03-11T08:46:42","modified_gmt":"2025-03-11T12:46:42","slug":"magic-software-reports-fourth-quarter-and-full-year-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/magic-software-reports-fourth-quarter-and-full-year-2024-financial-results\/","title":{"rendered":"Magic Software Reports Fourth Quarter and Full Year 2024 Financial Results"},"content":{"rendered":"
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OR YEHUDA, Israel, March 11, 2025 (GLOBE NEWSWIRE) — Magic Software Enterprises Ltd. (NASDAQ\u00a0and\u00a0TASE: MGIC) (\u201cthe Company\u201d),\u00a0a global provider of IT consulting services and end-to-end integration and application development platforms solutions, announced today its financial results for the fourth quarter and full year ended December 31, 2024.<\/p>\n

\n
\n Summary Results for the <\/u>
\n <\/strong>
\n
\n Fourth<\/u>
\n <\/strong>
\n
\n Quarter <\/u>
\n <\/strong>
\n
\n 2024<\/u>
\n <\/strong>
\n
\n (USD in millions, except per share data)<\/u>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n GAAP<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Non-GAAP<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Q4 2024<\/strong>\n <\/td>\n\n Q4 2023<\/strong>\n <\/td>\n\n % Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Q4 2024<\/strong>\n <\/td>\n\n Q4 2023<\/strong>\n <\/td>\n\n % Change<\/strong>\n <\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n142.6<\/td>\n\u00a0<\/td>\n$<\/td>\n125.5<\/td>\n\u00a0<\/td>\n13.6%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n142.6<\/td>\n\u00a0<\/td>\n$<\/td>\n125.5<\/td>\n\u00a0<\/td>\n13.6%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n$<\/td>\n42.0<\/td>\n\u00a0<\/td>\n$<\/td>\n37.0<\/td>\n\u00a0<\/td>\n13.5%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n43.2<\/td>\n\u00a0<\/td>\n$<\/td>\n38.6<\/td>\n\u00a0<\/td>\n11.9%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross margin<\/td>\n\u00a0<\/td>\n29.4%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29.4%<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30.3%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30.8%<\/td>\n\u00a0<\/td>\n(50) bps<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income<\/td>\n$<\/td>\n16.7<\/td>\n\u00a0<\/td>\n$<\/td>\n13.0<\/td>\n\u00a0<\/td>\n28.6%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n18.8<\/td>\n\u00a0<\/td>\n$<\/td>\n17.7<\/td>\n\u00a0<\/td>\n6.1%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating margin<\/td>\n\u00a0<\/td>\n11.7%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.3%<\/td>\n\u00a0<\/td>\n140 bps<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.2%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.1%<\/td>\n\u00a0<\/td>\n(90) bps<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (*)<\/td>\n$<\/td>\n10.6<\/td>\n\u00a0<\/td>\n$<\/td>\n8.5<\/td>\n\u00a0<\/td>\n25.2%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11.5<\/td>\n\u00a0<\/td>\n$<\/td>\n11.6<\/td>\n\u00a0<\/td>\n(0.5%)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted EPS<\/td>\n$<\/td>\n0.22<\/td>\n\u00a0<\/td>\n$<\/td>\n0.17<\/td>\n\u00a0<\/td>\n29.4%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.24<\/td>\n\u00a0<\/td>\n$<\/td>\n0.24<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(*) Attributable to Magic Software\u2019s shareholders.<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n
Financial Highlights for the <\/u>
\n <\/strong>
\n
\n Fourth<\/u>
\n <\/strong>
\n
\n Quarter Ended <\/u>
\n <\/strong>
\n
\n December<\/u>
\n <\/strong>
\n
\n 31<\/u>
\n <\/strong>
\n
\n , <\/u>
\n <\/strong>
\n
\n 2024<\/u>
\n <\/strong>\n <\/p>\n