| Dec'17 | Dec'16 | Dec'15 | Jun'15 | Dec'14 | Dec'13 | Sep'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||
CURRENT ASSETS: | |||||||||
Cash and cash equivalents | |||||||||
71,467 | 60,908 | 54,351 | 51,053 | 47,400 | 70,313 | 28,111 | 29,050 | 21,460 | 16,182 |
Marketable securities | |||||||||
0 | 18,220 | 8,776 | - | 0 | - | - | - | - | - |
Restricted cash | |||||||||
- | - | - | - | - | - | 320 | - | 456 | - |
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 | 27,384 | 31,832 | 23,669 | 25,129 | 16,299 | 14,484 | 5,511 |
Other receivables and prepaid expenses | |||||||||
6,280 | 6,389 | 5,455 | 5,849 | 3,964 | 4,126 | 2,736 | 2,321 | 1,823 | 1,350 |
Deferred tax assets | |||||||||
- | - | - | 2,240 | - | 2,420 | 2,053 | 2,750 | 1,406 | 1,681 |
Total current assets | |||||||||
130,973 | 120,201 | 98,343 | 86,526 | 83,196 | 100,528 | 58,349 | 50,420 | 39,629 | 24,724 |
LONG-TERM ASSETS: | |||||||||
Marketable securities | |||||||||
0 | 17,228 | 30,875 | - | 33,098 | - | - | - | - | - |
Capitalized software development costs, net | |||||||||
23,761 | 20,755 | 19,856 | 19,785 | 19,243 | 19,704 | 19,047 | 17,494 | 17,399 | 13,822 |
Other intangible assets, net | |||||||||
41,409 | 7,599 | 7,684 | 8,783 | 8,662 | 10,310 | - | - | - | - |
Property and equipment, net | |||||||||
10,695 | 9,807 | 5,675 | 5,293 | 5,011 | 5,263 | 4,236 | 2,243 | 1,814 | 1,161 |
Other intangible assets, net | |||||||||
- | - | - | - | - | - | 10,666 | 11,718 | 14,193 | 1,545 |
Goodwill | |||||||||
158,559 | 73,597 | 70,035 | 71,351 | 67,698 | 72,438 | 71,295 | 68,087 | 66,715 | 9,604 |
Marketable securities | |||||||||
- | - | - | 38,780 | - | 0 | - | - | - | - |
Other long-term assets | |||||||||
3,675 | 4,623 | 4,252 | 2,445 | 5,567 | 2,957 | 3,214 | 2,316 | 3,546 | 2,955 |
Severance pay fund | |||||||||
4,547 | 4,041 | 5,551 | 6,493 | 10,735 | 11,228 | 11,368 | 10,306 | 10,172 | 4,908 |
Total long-term assets | |||||||||
242,646 | 137,650 | 143,928 | 152,930 | 150,014 | 121,900 | 119,826 | 112,164 | 113,839 | 33,995 |
Total assets | |||||||||
373,619 | 257,851 | 242,271 | 239,456 | 233,210 | 222,428 | 178,175 | 162,584 | 153,468 | 58,719 |
LIABILITIES AND EQUITY | |||||||||
CURRENT LIABILITIES: | |||||||||
Trade payables | |||||||||
7,044 | 6,562 | 4,721 | 4,210 | 3,310 | 6,517 | 7,601 | 4,382 | 2,559 | 1,693 |
Employees and payroll accruals | |||||||||
23,039 | 18,143 | 17,119 | 17,527 | 15,251 | 13,577 | 12,635 | 12,496 | 8,957 | 3,321 |
Accrued expenses and other liabilities | |||||||||
23,573 | 13,906 | 14,893 | 12,944 | 11,700 | 6,990 | 7,542 | 7,518 | 10,774 | 8,325 |
Deferred revenues and customer advances | |||||||||
16,513 | 9,137 | 10,268 | 10,722 | 9,272 | 9,928 | 8,450 | 7,301 | 9,603 | 6,517 |
Total current liabilities | |||||||||
70,169 | 47,748 | 47,001 | 45,403 | 39,533 | 37,012 | 36,228 | 31,697 | 31,893 | 19,856 |
LONG-TERM LIABILITIES: | |||||||||
Series B Debentures | |||||||||
78,281 | 0 | - | - | - | - | - | - | - | - |
Deferred tax liabilities | |||||||||
9,171 | 2,167 | - | - | - | - | - | - | - | - |
Other long-term liabilities | |||||||||
8,271 | 7,697 | 6,414 | 5,251 | 3,217 | 2,393 | 1,485 | 803 | 617 | 299 |
Accrued severance pay | |||||||||
5,500 | 4,940 | 6,662 | 7,458 | 12,008 | 12,615 | 12,986 | 11,645 | 10,711 | 4,446 |
Total long-term liabilities | |||||||||
101,223 | 14,804 | 13,076 | 12,709 | 15,225 | 15,008 | 14,471 | 12,448 | 11,328 | 4,745 |
COMMITMENTS AND CONTINGENT LIABILITIES | |||||||||
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
REDEEMABLE NON-CONTROLLING INTEREST | |||||||||
1,353 | 908 | 385 | 242 | 159 | 0 | - | - | - | - |
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 | |||||||||
- | - | - | - | - | - | 0 | 0 | 0 | 0 |
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 | 670 | 667 | 645 | 556 | 547 | 534 | 282 |
Additional paid-in capital | |||||||||
221,175 | 226,782 | 233,980 | 241,054 | 249,271 | 244,560 | 212,311 | 210,047 | 207,930 | 133,136 |
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 | 9,423 | 9,423 | 2,423 | 2,423 |
Accumulated other comprehensive income (loss) | |||||||||
528 | -11,167 | -11,679 | -8,062 | -10,281 | 1,082 | - | - | - | - |
Foreign currency translation adjustments | |||||||||
- | - | - | - | - | - | -499 | -4,870 | -6,277 | -657 |
Accumulated deficit | |||||||||
-12,926 | -13,278 | -32,614 | -43,861 | -52,630 | -67,093 | -76,316 | -78,697 | -90,477 | -96,374 |
Total Sapiens International Corporation N.V. shareholders' equity | |||||||||
200,043 | 193,595 | 180,942 | 180,378 | 177,604 | 169,771 | 126,629 | 117,604 | 109,287 | 33,964 |
Non-controlling interests | |||||||||
831 | 796 | 867 | 724 | 689 | 637 | 847 | 835 | 960 | 154 |
Total equity | |||||||||
200,874 | 194,391 | 181,809 | 181,102 | 178,293 | 170,408 | 127,476 | 118,439 | 110,247 | 34,118 |
Total liabilities and equity | |||||||||
373,619 | 257,851 | 242,271 | 239,456 | 233,210 | 222,428 | 178,175 | 162,584 | 153,468 | 58,719 |