Sapiens International Corp N V (SPNS) annual balance sheet covering fiscal 2012 through 2017, as reported to the SEC.
Total assets have grown 18.1% a year on average since fiscal 2012, from $162.58M to $373.62M, rising in every year shown.
A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.
| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||||||||||||||
CURRENT ASSETS: | |||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||
71,467 | 60,908 | 54,351 | 47,400 | 70,313 | 29,050 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and cash equivalents | 71,467 | 60,908 | 54,351 | 47,400 | 70,313 | 29,050 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Marketable securities | |||||||||||||||||||||
- | 18,220 | 8,776 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Marketable securities | - | 18,220 | 8,776 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Restricted cash | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Restricted cash | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Trade receivables (net of allowance for doubtful accounts of $623 and $415 at December 31, 2016 and 2017, respectively) | |||||||||||||||||||||
53,226 | 34,684 | 29,761 | 31,832 | 23,669 | 16,299 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Trade receivables (net of allowance for doubtful accounts of $623 and $415 at December 31, 2016 and 2017, respectively) | 53,226 | 34,684 | 29,761 | 31,832 | 23,669 | 16,299 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other receivables and prepaid expenses | |||||||||||||||||||||
6,280 | 6,389 | 5,455 | 3,964 | 4,126 | 2,321 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other receivables and prepaid expenses | 6,280 | 6,389 | 5,455 | 3,964 | 4,126 | 2,321 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred tax assets | |||||||||||||||||||||
- | - | - | - | 2,420 | 2,750 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred tax assets | - | - | - | - | 2,420 | 2,750 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total current assets | |||||||||||||||||||||
130,973 | 120,201 | 98,343 | 83,196 | 100,528 | 50,420 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total current assets | 130,973 | 120,201 | 98,343 | 83,196 | 100,528 | 50,420 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
LONG-TERM ASSETS: | |||||||||||||||||||||
Marketable securities | |||||||||||||||||||||
- | 17,228 | 30,875 | 33,098 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Marketable securities | - | 17,228 | 30,875 | 33,098 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Capitalized software development costs, net | |||||||||||||||||||||
23,761 | 20,755 | 19,856 | 19,243 | 19,704 | 17,494 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Capitalized software development costs, net | 23,761 | 20,755 | 19,856 | 19,243 | 19,704 | 17,494 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other intangible assets, net | |||||||||||||||||||||
41,409 | 7,599 | 7,684 | 8,662 | 10,310 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other intangible assets, net | 41,409 | 7,599 | 7,684 | 8,662 | 10,310 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Property and equipment, net | |||||||||||||||||||||
10,695 | 9,807 | 5,675 | 5,011 | 5,263 | 2,243 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Property and equipment, net | 10,695 | 9,807 | 5,675 | 5,011 | 5,263 | 2,243 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other intangible assets, net | |||||||||||||||||||||
- | - | - | - | - | 11,718 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other intangible assets, net | - | - | - | - | - | 11,718 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill | |||||||||||||||||||||
158,559 | 73,597 | 70,035 | 67,698 | 72,438 | 68,087 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill | 158,559 | 73,597 | 70,035 | 67,698 | 72,438 | 68,087 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Marketable securities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Marketable securities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other long-term assets | |||||||||||||||||||||
3,675 | 4,623 | 4,252 | 5,567 | 2,957 | 2,316 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other long-term assets | 3,675 | 4,623 | 4,252 | 5,567 | 2,957 | 2,316 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Severance pay fund | |||||||||||||||||||||
4,547 | 4,041 | 5,551 | 10,735 | 11,228 | 10,306 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Severance pay fund | 4,547 | 4,041 | 5,551 | 10,735 | 11,228 | 10,306 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total long-term assets | |||||||||||||||||||||
242,646 | 137,650 | 143,928 | 150,014 | 121,900 | 112,164 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total long-term assets | 242,646 | 137,650 | 143,928 | 150,014 | 121,900 | 112,164 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total assets | |||||||||||||||||||||
373,619 | 257,851 | 242,271 | 233,210 | 222,428 | 162,584 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total assets | 373,619 | 257,851 | 242,271 | 233,210 | 222,428 | 162,584 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES: | |||||||||||||||||||||
Trade payables | |||||||||||||||||||||
7,044 | 6,562 | 4,721 | 3,310 | 6,517 | 4,382 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Trade payables | 7,044 | 6,562 | 4,721 | 3,310 | 6,517 | 4,382 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Employees and payroll accruals | |||||||||||||||||||||
23,039 | 18,143 | 17,119 | 15,251 | 13,577 | 12,496 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Employees and payroll accruals | 23,039 | 18,143 | 17,119 | 15,251 | 13,577 | 12,496 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses and other liabilities | |||||||||||||||||||||
23,573 | 13,906 | 14,893 | 11,700 | 6,990 | 7,518 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses and other liabilities | 23,573 | 13,906 | 14,893 | 11,700 | 6,990 | 7,518 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenues and customer advances | |||||||||||||||||||||
16,513 | 9,137 | 10,268 | 9,272 | 9,928 | 7,301 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenues and customer advances | 16,513 | 9,137 | 10,268 | 9,272 | 9,928 | 7,301 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total current liabilities | |||||||||||||||||||||
70,169 | 47,748 | 47,001 | 39,533 | 37,012 | 31,697 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total current liabilities | 70,169 | 47,748 | 47,001 | 39,533 | 37,012 | 31,697 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
LONG-TERM LIABILITIES: | |||||||||||||||||||||
Series B Debentures | |||||||||||||||||||||
78,281 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Series B Debentures | 78,281 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred tax liabilities | |||||||||||||||||||||
9,171 | 2,167 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred tax liabilities | 9,171 | 2,167 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other long-term liabilities | |||||||||||||||||||||
8,271 | 7,697 | 6,414 | 3,217 | 2,393 | 803 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other long-term liabilities | 8,271 | 7,697 | 6,414 | 3,217 | 2,393 | 803 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued severance pay | |||||||||||||||||||||
5,500 | 4,940 | 6,662 | 12,008 | 12,615 | 11,645 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued severance pay | 5,500 | 4,940 | 6,662 | 12,008 | 12,615 | 11,645 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total long-term liabilities | |||||||||||||||||||||
101,223 | 14,804 | 13,076 | 15,225 | 15,008 | 12,448 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total long-term liabilities | 101,223 | 14,804 | 13,076 | 15,225 | 15,008 | 12,448 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
COMMITMENTS AND CONTINGENT LIABILITIES | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
COMMITMENTS AND CONTINGENT LIABILITIES | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
REDEEMABLE NON-CONTROLLING INTEREST | |||||||||||||||||||||
1,353 | 908 | 385 | 159 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
REDEEMABLE NON-CONTROLLING INTEREST | 1,353 | 908 | 385 | 159 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
EQUITY: | |||||||||||||||||||||
Sapiens International Corporation N.V. Shareholders' equity: | |||||||||||||||||||||
Share capital: | |||||||||||||||||||||
Preferred shares of 0.01 par value: Authorized - 1,000,000 shares at December 31, 2012 and 2013; Issued and outstanding: None at December 31, 2012 and 2013 | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Preferred shares of 0.01 par value: Authorized - 1,000,000 shares at December 31, 2012 and 2013; Issued and outstanding: None at December 31, 2012 and 2013 | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Common shares of 0.01 par value: Authorized: 70,000,000 shares at December 31, 2016 and 2017, respectively; Issued: 51,364,247 and 52,086,730 shares at December 31, 2016 and 2017, respectively; Outstanding: 49,035,951 and 49,758,434 shares at December 31, 2016 and 2017, respectively | |||||||||||||||||||||
689 | 681 | 678 | 667 | 645 | 547 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common shares of 0.01 par value: Authorized: 70,000,000 shares at December 31, 2016 and 2017, respectively; Issued: 51,364,247 and 52,086,730 shares at December 31, 2016 and 2017, respectively; Outstanding: 49,035,951 and 49,758,434 shares at December 31, 2016 and 2017, respectively | 689 | 681 | 678 | 667 | 645 | 547 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additional paid-in capital | |||||||||||||||||||||
221,175 | 226,782 | 233,980 | 249,271 | 244,560 | 210,047 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additional paid-in capital | 221,175 | 226,782 | 233,980 | 249,271 | 244,560 | 210,047 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Treasury shares, at cost - 2,328,296 Common shares at December 31, 2016 and 2017 | |||||||||||||||||||||
9,423 | 9,423 | 9,423 | 9,423 | 9,423 | 9,423 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Treasury shares, at cost - 2,328,296 Common shares at December 31, 2016 and 2017 | 9,423 | 9,423 | 9,423 | 9,423 | 9,423 | 9,423 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated other comprehensive income (loss) | |||||||||||||||||||||
528 | -11,167 | -11,679 | -10,281 | 1,082 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accumulated other comprehensive income (loss) | 528 | -11,167 | -11,679 | -10,281 | 1,082 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Foreign currency translation adjustments | |||||||||||||||||||||
- | - | - | - | - | -4,870 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Foreign currency translation adjustments | - | - | - | - | - | -4,870 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated deficit | |||||||||||||||||||||
-12,926 | -13,278 | -32,614 | -52,630 | -67,093 | -78,697 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accumulated deficit | -12,926 | -13,278 | -32,614 | -52,630 | -67,093 | -78,697 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Sapiens International Corporation N.V. shareholders' equity | |||||||||||||||||||||
200,043 | 193,595 | 180,942 | 177,604 | 169,771 | 117,604 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Sapiens International Corporation N.V. shareholders' equity | 200,043 | 193,595 | 180,942 | 177,604 | 169,771 | 117,604 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-controlling interests | |||||||||||||||||||||
831 | 796 | 867 | 689 | 637 | 835 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-controlling interests | 831 | 796 | 867 | 689 | 637 | 835 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total equity | |||||||||||||||||||||
200,874 | 194,391 | 181,809 | 178,293 | 170,408 | 118,439 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total equity | 200,874 | 194,391 | 181,809 | 178,293 | 170,408 | 118,439 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities and equity | |||||||||||||||||||||
373,619 | 257,851 | 242,271 | 233,210 | 222,428 | 162,584 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities and equity | 373,619 | 257,851 | 242,271 | 233,210 | 222,428 | 162,584 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||