Welcome to our dedicated page for Formula Systems news (Ticker: FORTY), a resource for investors and traders seeking the latest updates and insights on Formula Systems stock.
Formula Systems (1985) Ltd. (Nasdaq and TASE: FORTY) is a global information technology holding company that regularly publishes detailed financial and corporate updates. Through its subsidiaries and affiliates, the company is engaged in software consulting services, computer-based business solutions and the development of proprietary software products, and these activities are reflected in its recurring news flow.
News about Formula Systems often centers on quarterly and annual financial results, reported via press releases and accompanying Form 6-K filings. These updates include consolidated performance for the group and information about key holdings such as Matrix IT Ltd., Sapiens International Corporation N.V., Magic Software Enterprises Ltd. and the Michpal Group. The company’s communications also highlight technology themes across the group, including cloud, cyber, digital solutions, data, DevOps, InsureTech and AI.
Investors following FORTY news can expect announcements on revenues, operating income and net income for the group, as well as comments from management describing business trends across subsidiaries. The company also issues news on dividends approved by its board of directors, compliance with financial covenants under its secured debentures, and developments related to potential or actual debenture offerings in Israel.
Formula Systems’ news flow frequently includes updates on strategic activities at the subsidiary level. Examples disclosed in recent communications include acquisitions completed by Sapiens, revenue guidance updates at Magic Software, public offerings by portfolio companies such as TSG IT Advanced Systems Ltd. and Michpal Technologies Ltd., and an agreement for the acquisition of Sapiens by Advent with Formula Systems retaining a minority stake. The company has also reported on a planned merger of Magic Software into Matrix IT, described as a significant transaction in the Israeli IT sector, subject to regulatory and shareholder approvals.
This news page aggregates such announcements, allowing readers to review financial results, capital markets activity, corporate governance developments and technology-focused initiatives across the Formula Systems group. For those tracking the FORTY stock, the news feed provides a centralized view of how the holding company and its subsidiaries are evolving over time.
Formula Systems (NASDAQ/TASE: FORTY) reported Q3 2025 and nine-month results, citing consolidated Q3 revenue $696.6M (+23.6% YoY) and nine-month revenue $1.92B (+15.6% YoY). Operating income was $54.6M in Q3 (+10.8% YoY) and $154.8M for nine months (+14.4% YoY). The company treats Sapiens as discontinued operations after Sapiens agreed to a $43.50/share acquisition by Advent; Formula will retain ~18% ownership. Formula declared a cash dividend of NIS 1.64 per share payable Jan 13, 2026. Cash and short-term deposits totaled $432.1M (Dec 31, 2024: $563.2M). Total equity was $1.58B (47.4%). Company remains compliant with debenture covenants, reporting net debt/EBITDA 0.13.
Formula Systems (NASDAQ: FORTY) reported strong Q2 2025 financial results with revenues reaching an all-time high of $743.4 million, up 11.3% year-over-year. Operating income increased by 4.4% to $67.9 million, while net income decreased 20.1% to $15.1 million ($0.95 per share) due to increased financial expenses from NIS appreciation.
Key developments include Sapiens' acquisition agreement with Advent at $43.50 per share (64% premium), where Formula will retain an 18% stake, expecting a $775 million capital gain. The company declared a dividend of approximately $0.50 per share. Michpal Technologies is preparing for an IPO, showing 29.1% revenue growth to NIS 97.2 million in H1 2025.
The company maintains strong financial position with $406.2 million in cash and deposits, and total equity of $1.46 billion as of June 30, 2025.
Formula Systems (FORTY) has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission. The report, which includes the company's audited annual financial statements for 2024, was filed on May 14, 2025. The document is accessible through the SEC's website and Formula's investor relations page. Shareholders can request a free hard copy of the annual report by contacting the company's CFO, Asaf Berenstin.
Formula Systems (FORTY) reported strong financial results for Q4 and full year 2024. The company achieved record-breaking annual revenues of $2.76 billion, marking a 5.2% year-over-year increase, while net income grew 24.5% to $79.7 million.
A significant highlight is the announced non-binding MOU between Matrix and Magic Software for a landmark merger transaction. Under the proposed deal, Matrix would acquire Magic Software through a reverse triangular merger, creating a combined entity with an approximate market cap of NIS 7.7 billion ($2.1 billion). The exchange ratio is set at 68.875% / 31.125% between Matrix and Magic Software shareholders.
Key subsidiary performances include:
- Matrix: Record Q4 with 4.1% revenue growth to NIS 1.37 billion
- Magic Software: 13.6% revenue growth to $142.6 million in Q4
- Sapiens: Full-year revenues reached $542.4 million, up 5.4%
- Michpal Technologies: 12% revenue growth to NIS 159 million
- TSG: Q4 revenues up 19.2% to NIS 85.6 million
Formula Systems reported strong Q3 2024 financial results with revenues increasing 6.9% year-over-year to a record $699.9 million. Operating income grew 21.9% to $71.0 million, including a $6.5 million capital gain from TSG IT Advanced Systems' IPO. Net income attributable to shareholders rose 51.4% to $23.6 million ($1.51 per share). For the nine-month period, revenues increased 4.3% to $2.07 billion, with operating income up 11% to $198.7 million. The company maintains strong cash positions with $510.9 million in cash and short-term deposits, and total equity of $1.36 billion as of September 30, 2024.
Formula Systems (NASDAQ: FORTY) reported strong financial results for Q2 and H1 2024. Q2 highlights include:
- Revenue increased 1.9% to $667.7 million
- Operating income rose 8.4% to a record $65.0 million
- Net income attributable to shareholders grew 10.7% to $18.8 million
H1 2024 performance:
- Revenue up 3.0% to $1.37 billion
- Operating income increased 5.7% to $127.6 million
- Net income attributable to shareholders rose 10.1% to $36.0 million
The company declared a dividend of NIS 2.32 per share. Formula's subsidiaries, including Matrix, Sapiens, and Magic Software, reported strong results across various sectors.
Formula Systems (1985) (FORTY) has published a draft agreement for a potential new series of secured, non-convertible debentures—Series D Debentures—in Israel. These debentures would be secured by a first lien on shares of Matrix IT , Sapiens International N.V., and Magic Software Enterprises , with a loan-to-value ratio not exceeding 60%. The repayment schedule includes seven annual payments of 12% from 2027 to 2033, with a final 16% payment in 2034. Interest payments begin on December 1, 2024, followed by semi-annual payments through 2034.
S&P and Midroog have issued credit ratings of ilAA- and Aa3.il respectively for the potential Series D Debentures, for up to NIS 150 million. These ratings match Formula's current Series C Debentures and corporate credit ratings. The offering is subject to regulatory approvals and will be available only to Israeli residents.
Formula Systems (FORTY) reported first-quarter 2024 financial results, showing a 4.2% year-over-year revenue increase to $698.4 million. Net income rose by 9.4% to $17.2 million ($1.10 per fully diluted share). Operating income increased by 2.9% to $62.6 million. The company’s consolidated cash and equivalents totaled $516.1 million as of March 31, 2024. Total equity remained at $1.31 billion.
Matrix IT achieved a 12.6% revenue growth, reaching an all-time high of approximately $396.9 million. Sapiens' revenues grew by 7.6% to $134.2 million. Magic Software's revenues decreased by 8.2% year-over-year but saw a 4.1% quarter-over-quarter increase. Michpal's revenues grew 14% year-over-year to approximately $10.4 million. TSG’s operating income increased by 15.4% year-over-year.
Despite challenges, including the mobilization of 250 employees due to military service, Formula Systems maintained strong financial performance and compliance with financial covenants.
Formula Systems announced the filing of its 2023 annual report, which includes audited consolidated financial statements up to December 31, 2023. The report is accessible on the company's website, and shareholders can request a hard copy free of charge. As a global IT group, Formula Systems focuses on software consulting services, computer-based business solutions, and proprietary software products.