Magic Software Enterprises Ltd
(NASDAQ:MGIC)

Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and information technologies (IT) outsourcing software services in Israel and internationally. The company's Software Services segment develops, markets, sells, an...

Website: http://www.magicsoftware.com

Founded: 1983

Full Time Employees: 2,640

Sector: Technology

Industry: Software-Application

Technology

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Quarterly

Annual

Unit: USD	2025-11-18	2025-08-13	2025-05-21	2025-03-11	2024-11-18	2024-08-14	2024-05-16	2024-03-13	2023-11-14	2023-08-14	2023-05-18	2023-03-09	2022-11-14	2022-08-11	2022-05-12	2022-03-02	2021-12-31	2021-11-15	2021-08-12	2021-05-10	2021-03-08	2020-12-31	2020-11-16	2020-08-13	2020-05-26	2020-03-09	2019-12-31	2019-11-14	2019-08-06	2019-05-16	2019-03-04	2018-12-31	2018-11-13	2018-09-20	2018-08-08	2018-05-16	2018-02-28	2017-12-31	2017-11-14	2017-08-09	2017-05-16	2017-02-21	2016-12-31	2016-11-10	2016-08-10	2016-05-09	2016-02-17	2015-12-31	2015-11-12	2015-08-11	2015-05-11	2015-01-30	2014-12-31	2014-11-10	2014-08-11	2014-05-07	2014-02-12	2013-12-31	2013-11-08	2013-11-06	2013-08-07	2013-05-07	2013-02-13	2012-12-31	2012-11-07	2012-08-08	2012-05-07	2012-02-14	2011-12-31	2011-11-02	2011-08-03	2011-04-28	2010-12-31	2010-04-26	2009-12-31	2009-09-30	2009-05-11	2008-12-31	2008-08-07	2008-05-21	2008-02-28	2007-12-31	2007-08-09	2007-05-14	2007-02-26	2006-11-09	2006-05-18	2006-02-16	2005-12-31	2005-11-10	2005-08-09	2005-05-10	2005-02-16	2004-12-31	2004-11-04	2004-08-05	2004-05-12	2004-02-02	2003-12-31	2003-11-05	2003-08-11	2003-05-05	2003-02-25	2002-12-31	2002-11-13

revenues	161,656,000	151,642,000	147,336,000	142,582,000	142,968,000	136,250,000	130,720,000	125,545,000	129,484,000	137,583,000	142,440,000	147,146,000	143,963,000	136,978,000	138,705,000	133,002,000	86,830,750	120,870,000	119,155,000	107,298,000	104,573,000	66,655,250	94,892,000	86,521,000	85,208,000	90,927,000	58,675,750	85,843,000	77,060,000	71,800,000	72,293,000	53,020,500	72,135,000		70,221,000	69,726,000	66,089,000	47,975,250	65,661,000	65,479,000	60,761,000	55,141,000	36,626,250	54,475,000	47,362,000	44,668,000	47,856,000	32,043,500	45,333,000	42,505,000	40,336,000	42,518,000	30,446,500	40,204,000	40,633,000	40,949,000	41,192,000			35,596,000	34,756,000	33,414,000	35,730,000	22,662,500	32,578,000	28,030,000	30,042,000	30,483,000	20,711,250	29,977,000	27,380,000	25,488,000		19,711,000	10,217,250	13,595,000	13,770,000
cost of revenues	117,449,000	109,268,000	106,705,000	100,627,000	103,287,000	97,407,000	94,021,000	88,585,000	92,647,000	97,278,000	103,555,000	105,325,000	104,600,000	100,385,000	101,127,000	95,627,000	62,926,000	88,244,000	86,351,000	77,109,000	73,688,000	46,978,500	65,794,000	61,728,000	60,016,000	63,059,000	40,110,500	58,458,000	52,476,000	49,508,000	50,203,000	36,338,500	50,626,000		48,216,000	46,512,000	45,055,000	32,526,500	44,327,000	44,718,000	41,061,000	37,178,000	24,026,000	35,726,000	31,150,000	29,228,000	30,955,000	20,566,500	29,846,000	27,503,000	24,917,000	25,467,000	18,565,000	24,988,000	24,965,000	24,307,000	24,305,000			20,733,000	20,965,000	19,890,000	20,792,000	13,150,250	19,583,000	16,101,000	16,917,000	17,968,000	12,322,500	17,816,000	16,318,000	15,156,000		11,247,000	4,951,250	6,443,000	6,737,000
gross profit	44,207,000	42,374,000	40,631,000	41,955,000	39,681,000	38,843,000	36,699,000	36,960,000	36,837,000	40,305,000	38,885,000	41,821,000	39,363,000	36,593,000	37,578,000	37,375,000	37,375,000	32,626,000	32,804,000	30,189,000	30,885,000	30,885,000	29,098,000	24,793,000	25,192,000	27,868,000	27,868,000	27,385,000	24,584,000	22,292,000	22,090,000	22,090,000	21,509,000	45,219,000	22,005,000	23,214,000	21,034,000	21,184,000	21,334,000	20,761,000	19,700,000	17,963,000	17,863,000	18,749,000	16,212,000	15,440,000	16,901,000	16,901,000	15,487,000	15,002,000	15,419,000	17,051,000	17,051,000	15,216,000	15,668,000	16,642,000	16,887,000		27,315,000	14,863,000	13,791,000	13,524,000	14,938,000	14,938,000	12,995,000	11,929,000	13,125,000	12,515,000	12,515,000	12,161,000	11,062,000	10,332,000		8,464,000	8,022,000	7,152,000	7,033,000						9,102,000	8,476,000	8,886,000	7,805,000	9,325,000	7,764,000	7,765,000	8,267,000	8,956,000	9,325,000	10,186,000	10,185,000	9,303,000	10,186,000	10,014,000	11,109,000	11,110,000	9,828,000	9,422,000	8,891,000	6,184,000	6,184,000	6,965,000
yoy	11.41%	9.09%	10.71%	13.51%	7.72%	-3.63%	-5.62%	-11.62%	-6.42%	10.14%	3.48%	11.90%	5.32%	12.16%	14.55%	23.80%	21.01%	5.64%	12.74%	21.76%	22.60%	10.83%	4.41%	-9.47%	2.47%	25.01%	26.16%	23.97%	14.30%	-50.70%	0.39%	-4.84%	2.26%	113.46%	3.15%	11.82%	6.77%	17.93%	19.43%	10.73%	21.51%	16.34%	5.69%	10.93%	4.68%	2.92%	9.61%	-0.88%	-9.17%	-1.41%	-1.59%	2.46%	0.97%		-42.64%	11.97%	22.45%		82.86%	-0.50%	6.13%	13.37%	13.81%	19.36%	3.84%	-1.91%	18.65%	21.13%		43.68%	37.90%	44.46%											-2.39%	9.17%	14.44%	-5.59%	4.12%	-16.74%	-23.77%	-18.83%	-3.73%	-8.45%	1.72%	-8.32%	-16.26%	3.64%	6.28%	24.95%	79.66%	58.93%	35.28%
qoq	4.33%	4.29%	-3.16%	5.73%	2.16%	5.84%	-0.71%	0.33%	-8.60%	3.65%	-7.02%	6.24%	7.57%	-2.62%	0.54%	0.00%	14.56%	-0.54%	8.66%	-2.25%	0.00%	6.14%	17.36%	-1.58%	-9.60%	0.00%	1.76%	11.39%	10.28%	0.91%	0.00%	2.70%	-52.43%	105.49%	-5.21%	10.36%	-0.71%	-0.70%	2.76%	5.39%	9.67%	0.56%	-4.73%	15.65%	5.00%	-8.64%	0.00%	9.13%	3.23%	-2.70%	-9.57%	0.00%	12.06%	-2.88%	-5.85%	-1.45%			83.78%	7.77%	1.97%	-9.47%	0.00%	14.95%	8.94%	-9.11%	4.87%	0.00%	2.91%	9.93%	7.07%			5.51%	12.16%	1.69%							7.39%	-4.61%	13.85%	-16.30%	20.11%	-0.01%	-6.07%	-7.69%	-3.96%	-8.45%	0.01%	9.48%	-8.67%	1.72%	-9.86%	-0.01%	13.04%	4.31%	5.97%	43.77%	0.00%	-11.21%
gross margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	32.31%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	40.07%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	54.12%	55.52%	54.89%	51.63%	60.15%	51.70%	51.71%	55.98%	57.04%	60.15%	59.81%	59.80%	61.96%	61.11%	60.86%	64.23%	64.24%	62.73%	61.58%	58.78%	44.94%	44.94%	50.39%
research and development	3,172,000	3,425,000	3,247,000	3,988,000	3,033,000	2,847,000	2,793,000	2,703,000	2,661,000	2,425,000	2,539,000	2,714,000	2,441,000	2,596,000	2,339,000	2,123,000	2,123,000	2,313,000	2,363,000	2,196,000	2,310,000	2,310,000	2,316,000	1,989,000	2,174,000	1,962,000	1,962,000	2,235,000	2,496,000	1,546,000	1,297,000	1,297,000	1,281,000	3,118,000	1,597,000	1,521,000	1,750,000	1,750,000	1,669,000	1,907,000	1,616,000	1,793,000	1,793,000	1,571,000	1,212,000	1,263,000	1,163,000	1,163,000	1,449,000	1,072,000	1,204,000	1,226,000	1,226,000	1,124,000	1,220,000	1,180,000	925,000		1,802,000	979,000	919,000	883,000	813,000	813,000	892,000	336,000	906,000	469,000	469,000	758,000	454,000	366,000		631,000	353,000	260,000	339,000
selling, marketing and general and administrative expenses	23,920,000	23,305,000	21,641,000	21,267,000	21,577,000	20,835,000	19,174,000	19,449,000	20,300,000	22,431,000	20,999,000	24,294,000	20,988,000	19,687,000	18,980,000	19,139,000	12,949,000	18,264,000	17,747,000	15,785,000	16,520,000	10,651,750	15,749,000	12,962,000	14,272,000	17,176,000	10,765,500	16,654,000	14,050,000	12,358,000	12,353,000	9,767,750	12,521,000		12,423,000	14,023,000		9,207,000	12,569,000		11,745,000		7,451,500	11,213,000				6,430,500	8,746,000			10,197,000			9,321,000																7,205,000			6,079,000
total operating expenses	27,092,000	26,730,000	24,888,000	25,255,000	24,610,000	23,803,000	22,273,000	23,977,000			23,538,000	27,228,000	23,252,000																																												11,438,000																		4,639,250	6,197,000	6,293,000
operating income	17,115,000	15,644,000	15,743,000	16,700,000	15,071,000	15,040,000	14,426,000	12,983,000	13,329,000	15,449,000	15,347,000	14,593,000	16,111,000	14,733,000	15,942,000	14,284,000	14,284,000	12,049,000	12,694,000	12,208,000	10,967,000	10,967,000	11,033,000	9,842,000	8,746,000	8,730,000	8,730,000	8,496,000	8,038,000	8,388,000	8,440,000	8,440,000	7,707,000	15,551,000	7,985,000	7,566,000	6,181,000	6,181,000	7,096,000	6,340,000	6,339,000	4,309,000	4,538,000	5,965,000	5,323,000	5,261,000	4,973,000	4,973,000	5,292,000	5,365,000	5,804,000	4,075,000	4,074,000	5,572,000	5,127,000	5,953,000	5,449,000		8,708,000	4,970,000	4,067,000	4,641,000	4,258,000	4,258,000	4,122,000	3,803,000	4,225,000	4,176,000	4,176,000	4,007,000	3,403,000	3,131,000		1,754,000	3,723,000	955,000	740,000								-247,000	-3,644,000	-396,000	-1,644,000	-1,718,000	-1,141,000	-1,005,000	-396,000	902,000	602,000	912,000	895,000	893,000	1,496,000	1,497,000	1,156,000	758,000	252,000	-3,631,000	-3,630,000	-2,065,000
yoy	13.56%	4.02%	9.13%	28.63%	13.07%	-2.65%	-6.00%	-11.03%	-17.27%	4.86%	-3.73%	2.16%	12.79%	22.28%	25.59%	17.01%	30.25%	9.87%	15.05%	24.04%	25.39%	25.62%	26.38%	15.84%	8.81%	4.08%	3.44%	0.66%	4.29%	-46.06%	5.70%	11.55%	24.69%	151.59%	12.53%	19.34%	-2.49%	43.44%	56.37%	6.29%	19.09%	-18.10%	-8.75%	19.95%	0.59%	-1.94%	-14.32%	22.04%	29.90%	-3.72%	13.20%	-31.55%	-25.23%		-41.12%	19.78%	33.98%		104.51%	16.72%	-1.33%	22.04%	0.78%	1.96%	-1.29%	-5.09%	24.16%	33.38%		128.45%	-8.60%	227.85%													-85.62%	219.37%	-60.60%	315.15%	-290.47%	-289.53%	-210.20%	-144.25%	1.01%	-59.76%	-39.08%	-22.58%	17.81%	493.65%	-141.23%	-131.85%	-136.71%
qoq	9.40%	-0.63%	-5.73%	10.81%	0.21%	4.26%	11.11%	-2.60%	-13.72%	0.66%	5.17%	-9.42%	9.35%	-7.58%	11.61%	0.00%	18.55%	-5.08%	3.98%	11.32%	0.00%	-0.60%	12.10%	12.53%	0.18%	0.00%	2.75%	5.70%	-4.17%	-0.62%	0.00%	9.51%	-50.44%	94.75%	5.54%	22.41%	0.00%	-12.89%	11.92%	0.02%	47.11%	-5.05%	-23.92%	12.06%	1.18%	5.79%	0.00%	-6.03%	-1.36%	-7.56%	42.43%	0.02%	-26.88%	8.68%	-13.88%	9.25%			75.21%	22.20%	-12.37%	8.99%	0.00%	3.30%	8.39%	-9.99%	1.17%	0.00%	4.22%	17.75%	8.69%			-52.89%	289.84%	29.05%									-93.22%	820.20%	-75.91%	-4.31%	50.57%	13.53%	153.79%	-143.90%	49.83%	-33.99%	1.90%	0.22%	-40.31%	-0.07%	29.50%	52.51%	200.79%	-106.94%	0.03%	75.79%
operating margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	11.11%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	12.77%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	0%	0%	-1.53%	-24.11%	-2.55%	-10.95%	-11.44%	-7.73%	-6.40%	-2.55%	5.30%	3.53%	6.07%	5.37%	5.43%	8.65%	8.66%	7.38%	4.95%	1.67%	-26.39%	-26.38%	-14.94%
financial expenses	-1,698,000	-725,000	-1,065,000	-1,999,000	-1,364,000	1,235,000	-1,758,000	-1,865,000	-1,649,000	-248,000	-564,000	-1,059,000	-812,000	-219,000	728,000	1,303,000			1,304,000		1,312,000	-301,750	-589,000														-546,000					-302,000					-96,000			-69,000	-909,000	840,000	236,500	486,000	321,000	-139,000			520,000		122,000																										320,000				47,000	320,000
income before taxes on income	15,417,000	14,919,000	14,678,000	14,701,000	13,707,000	13,805,000	12,782,000	11,084,000	11,627,000	15,133,000	14,648,000	13,534,000	15,299,000	14,514,000	14,370,000	11,837,000	11,837,000	10,974,000	11,390,000	11,062,000	8,989,000	8,989,000	10,444,000	8,707,000	9,263,000	8,378,000	8,378,000	7,874,000	8,073,000	8,148,000	8,428,000	8,428,000	7,421,000	15,998,000	8,234,000	7,764,000	5,635,000	5,635,000	6,753,000	5,745,000	6,112,000	4,007,000	4,007,000	5,829,000	5,479,000	5,342,000	4,877,000	4,877,000	5,689,000	5,296,000	4,895,000	3,235,000	3,234,000	5,019,000	4,806,000	5,814,000	5,347,000		8,188,000	4,896,000	3,945,000	4,243,000	4,451,000	4,451,000	4,206,000	3,636,000	4,261,000	4,119,000	4,119,000	4,086,000	3,614,000	3,244,000		1,928,000	3,640,000	1,163,000	804,000
taxes on income	3,464,000	3,324,000	2,912,000	2,286,000	3,273,000	3,040,000	2,729,000	1,724,000	2,942,000	2,455,000	2,813,000	1,974,000	2,392,000	3,625,000	3,206,000	3,573,000	3,573,000	2,212,000	2,304,000	2,270,000	1,178,000	1,178,000	2,039,000	2,081,000	1,988,000	1,977,000	1,977,000	1,380,000	1,897,000	1,620,000	2,186,000	2,186,000	1,475,000	3,410,000	1,434,000	1,976,000	1,364,000	1,364,000	2,133,000	1,584,000	1,250,000	649,000	649,000	1,044,000	987,000	1,269,000	1,150,000	1,150,000	1,201,000	875,000	455,000	171,000	171,000	524,000	646,000	966,000	441,000		777,000		282,000	495,000	52,000	10,500	-25,000	23,000	44,000	-270,000	16,750	24,000		43,000		78,000	167,000	76,000	90,000						156,000	47,000	84,000	55,000	231,000	63,000	125,750	217,000	54,000	231,000		16,750	67,000			106,000	30,750	111,000	-95,000	-82,000	-47,000	47,000	68,000
net income	11,953,000	11,595,000	11,766,000	12,415,000	10,434,000	10,765,000	10,053,000	9,360,000	8,685,000	12,678,000	11,835,000	11,560,000	12,907,000	10,889,000	11,164,000	8,264,000	8,264,000	8,762,000	9,086,000	8,792,000	7,811,000	7,811,000	8,405,000	6,626,000	7,275,000	6,401,000	6,401,000	6,494,000	6,176,000	6,528,000	6,242,000	6,242,000	5,946,000	12,588,000	6,800,000	5,788,000	4,271,000	4,271,000	4,620,000	4,161,000	4,862,000	3,358,000	3,358,000	4,785,000	4,492,000	4,073,000	3,727,000	3,727,000	4,488,000	4,421,000	4,440,000	3,064,000	3,063,000	4,495,000	4,160,000	4,848,000	4,906,000		7,411,000	4,539,000	3,663,000	3,748,000	4,253,000	3,015,250	4,231,000	3,613,000	4,217,000	4,389,000	4,389,000	4,062,000	3,614,000	3,201,000		1,850,000	3,473,000	1,087,000	714,000						816,000	-169,000		-3,531,000	163,000	-1,991,000	-1,990,000	-1,619,000	-1,160,000	163,000	1,712,000	1,713,000	746,000	914,000	718,000	1,230,000	1,231,000	813,000	752,000	272,000	-3,288,000	-3,288,000	-2,155,000
yoy	14.56%	7.71%	17.04%	32.64%	20.14%	-15.09%	-15.06%	-19.03%	-32.71%	16.43%	6.01%	39.88%	56.18%	24.28%	22.87%	-6.01%	5.80%	12.18%	8.10%	32.69%	7.37%	22.03%	31.31%	2.03%	17.79%	-1.95%	2.55%	4.04%	3.87%	-48.14%	-8.21%	7.84%	39.22%	194.73%	47.19%	39.10%	-12.16%	27.19%	37.58%	-13.04%	8.24%	-17.55%	-9.90%	28.39%	0.09%	-7.87%	-16.06%	21.64%	46.52%	-1.65%	6.73%	-36.80%	-37.57%		-43.87%	6.81%	33.93%		74.25%	50.53%	-13.42%	3.74%	0.85%	-31.30%	-3.60%	-11.05%	16.69%	37.11%		119.57%	4.06%	194.48%											400.61%	-91.51%		118.10%	-114.05%	-1321.47%	-216.24%	-194.51%	-255.50%	-82.17%	138.44%	39.27%	-39.40%	12.42%	-4.52%	352.21%	-137.44%	-124.73%	-134.90%
qoq	3.09%	-1.45%	-5.23%	18.99%	-3.07%	7.08%	7.40%	7.77%	-31.50%	7.12%	2.38%	-10.44%	18.53%	-2.46%	35.09%	0.00%	-5.68%	-3.57%	3.34%	12.56%	0.00%	-7.07%	26.85%	-8.92%	13.65%	0.00%	-1.43%	5.15%	-5.39%	4.58%	0.00%	4.98%	-52.76%	85.12%	17.48%	35.52%	0.00%	-7.55%	11.03%	-14.42%	44.79%	0.00%	-29.82%	6.52%	10.29%	9.28%	0.00%	-16.96%	1.52%	-0.43%	44.91%	0.03%	-31.86%	8.05%	-14.19%	-1.18%			63.27%	23.91%	-2.27%	-11.87%	41.05%	-28.73%	17.10%	-14.32%	-3.92%	0.00%	8.05%	12.40%	12.90%			-46.73%	219.50%	52.24%							-582.84%			-2266.26%	-108.19%	0.05%	22.92%	39.57%	-811.66%	-90.48%	-0.06%	129.62%	-18.38%	27.30%	-41.63%	-0.08%	51.41%	8.11%	176.47%	-108.27%	0.00%	52.58%
net income margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	8.99%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	10.87%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	4.85%	-1.11%	0%	-23.36%	1.05%	-13.26%	-13.25%	-10.96%	-7.39%	1.05%	10.05%	10.06%	4.97%	5.48%	4.36%	7.11%	7.12%	5.19%	4.91%	1.80%	-23.89%	-23.89%	-15.59%
share of loss of companies accounted for at equity			-126,000		-119,000	-85,000
net income attributable to non-controlling interests	-2,090,000	-1,511,000	-2,162,000	-1,685,000	-1,884,000	-1,647,000	-1,192,000	-821,000	-1,539,000	-1,384,000	-1,727,000	-647,000	-577,000	-616,000	-593,000	-567,000	3,543,000	-494,000	-476,000	-518,000		4,975,000	-820,000	-652,000	-1,098,000	-1,226,000	3,216,000	-491,000	-211,000	-293,000	-324,000	2,696,000	-313,000	873,000	-397,000	-476,000	-583,000	1,289,000	-49,000	-163,000	-141,000	-55,000	507,000	-74,000	-82,000	-70,000	-58,000	420,000	-53,000	-167,000	39,000	-244,000	1,540,000	-258,000	-308,000	-353,000	-8,000		195,000	-142,000	-60,000	-133,000		-32,750	-116,000	-9,000	-6,000	-24,000	420,000	-43,000	-67,000	-88,000
net income attributable to magic’s shareholders	9,863,000	9,918,000	9,478,000		8,431,000	9,033,000	8,797,000		7,146,000	11,294,000	10,108,000	10,069,000	11,493,000			6,512,000	5,705,000	7,497,000	7,780,000	7,543,000	6,511,000					5,121,000	3,786,250	4,958,000	4,835,000		4,540,000				5,719,000	4,579,000		2,911,500	3,799,000
weighted-average number of shares used in computing net earnings per share
basic	49,099	49,099	49,099		49,099	49,099	49,099	49,099	49,096	49,093	49,093	49,093	49,093		49,039	49,073		49,060	49,055	49,035	49,035		49,031	49,002	48,958	48,921		48,897	48,891		48,841		48,799		44,489	44,489			44,450		44,388			44,350					44,256																						36,299					31,894
diluted	49,099	49,099	49,099		49,099	49,099	49,099	49,099	49,115	49,133	49,136	49,131	49,128		49,083	49,120		49,107	49,091	49,082	49,053		49,049	49,042	49,046	49,021		48,991	48,985		48,961		48,959		44,631	44,635			44,609		44,554			44,530					44,457																						37,144					32,009
basic and diluted earnings per share attributable to magic’s shareholders	0.2	0.2	0.19		0.17	0.18	0.18		0.15	0.23	0.2	0.23	0.23			0.05					0.11					-0.03
share of profit of companies accounted for at equity		-166,000					-64,000
share of loss of a company accounted for at equity				-108,000
net income attributable to magic's shareholders				10,622,000				8,483,000						9,487,000	9,618,000							4,668,750	7,085,000	5,737,000	5,853,000					5,353,000		3,835,750	5,045,000				3,796,000			3,584,000	4,263,000	126,000	2,945,250	4,005,000	4,088,000	3,688,000	3,678,000	3,130,000	4,151,000	4,098,000	4,271,000						4,690,000			4,189,000	3,481,000	3,520,000
weighted average number of shares used in
computing net earnings per share
basic				49,099																										48,876							44,473			44,432		44,356			44,344	44,339	44,295			44,240	44,199						37,081			36,877	36,722	36,594	36,553
diluted				49,099																										48,979							44,637			44,593		44,530			44,511	44,492	44,456			44,458	44,217						37,454			37,405	37,243	37,096	37,042
basic and diluted earnings per share attributable to magic's shareholders				0.22				0.17						0.16	0.2
increase in valuation of contingent consideration related to acquisitions						121,000	306,000	-142,000	547,000			220,000	-177,000		317,000	1,829,000					1,088,000															104,000	280,000
increase in valuation of consideration related to acquisitions							114,000		-53,000		-135,000
cost of share-based payment								1,967,000
decrease in valuation of consideration related to acquisitions								-34,000		-68,000
share of losst of a company accounted for at equity								-56,000
total operating costs and expenses									23,508,000	24,856,000				21,860,000	21,636,000	23,091,000	23,091,000	20,577,000	20,110,000	17,981,000	19,918,000	19,918,000	18,065,000	14,951,000	16,446,000	19,138,000	19,138,000	18,889,000	16,546,000	13,904,000	13,650,000	13,650,000	13,802,000	29,668,000	14,020,000	15,648,000	14,853,000	15,003,000	14,238,000	14,421,000	13,361,000	13,654,000	13,325,000	12,784,000	10,889,000	10,179,000	11,928,000	11,928,000	10,195,000	9,637,000	9,615,000	12,976,000	12,977,000	9,644,000	10,541,000	10,689,000			18,607,000	9,893,000	9,724,000	8,883,000	10,680,000	6,474,750	8,873,000	8,126,000	8,900,000	8,339,000	8,339,000	8,154,000	7,659,000	7,201,000		6,710,000
decrease in valuation of contingent consideration related to acquisitions
net income attributable to redeemable non-controlling interests												-844,000	-837,000	-786,000	-953,000	-1,185,000	5,849,000	-771,000	-830,000	-731,000		3,587,000	-500,000	-237,000	-324,000	-54,000	6,168,000	-1,045,000	-1,130,000	-882,000	-1,378,000	5,388,000	-588,000	1,417,000	-684,000	-733,000		3,180,000	-772,000	-414,000
net earnings per share attributable to magic’s shareholders :
net income attributable to magic shareholder’s												10,069	11,493			6,512					6,511					5,121
accretion of redeemable non-controlling interests												-429	24	-1,487		-4,026					-1,317					-6,441
net income attributable to magic shareholder’s after accretion of redeemable non-controlling interests												9,640	11,517			2,486					5,194					-1,320
net earnings per share attributable to magic’s shareholders : excluding of accretion of redeemable non-controlling interest
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
increase (decrease) in valuation of contingent consideration related to acquisitions														-423,000
net earnings per share attributable to magic's shareholders :
net income attributable to magic shareholder's														9,487
net income attributable to magic shareholder's after accretion of redeemable non-controlling interests														8,000
weighted average number of shares used in computing net earnings per share
basic														49,093																																						44,172																						31,942			31,894
diluted														49,123																																						44,440																						32,351			31,938
excluding of accretion of redeemable non-controlling interest
basic														0.16		0.13
diluted														0.16		0.13
weighted-average number of shares used in computing net earnings per share:
basic	49,099	49,099	49,099		49,099	49,099	49,099	49,099	49,096	49,093	49,093	49,093	49,093		49,039	49,073		49,060	49,055	49,035	49,035		49,031	49,002	48,958	48,921		48,897	48,891		48,841		48,799		44,489	44,489			44,450		44,388			44,350					44,256																						36,299					31,894
diluted	49,099	49,099	49,099		49,099	49,099	49,099	49,099	49,115	49,133	49,136	49,131	49,128		49,083	49,120		49,107	49,091	49,082	49,053		49,049	49,042	49,046	49,021		48,991	48,985		48,961		48,959		44,631	44,635			44,609		44,554			44,530					44,457																						37,144					32,009
net earnings per share attributable to magic's shareholders:
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
financial expenses (income)																	881,250	1,075,000		1,146,000																																								-74,000																																				41,000	114,000
net earnings per share attributable to magic’s shareholders:
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
net earnings per share attributable to magic’s shareholders :
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
net income attributable to non-controlling interests and redeemable non-controlling interests																					-1,300,000
excluding accretion of redeemable non-controlling interest
basic																					0.13
diluted																					0.13
net earnings per share attributable to magic's shareholders :
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
financial income (expenses)																								-1,135,000	517,000	-352,000	-352,000	-622,000	35,000	-240,000	-12,000	40,250	-286,000		249,000	198,000		-291,250	-343,000	-595,000			25,250	-136,000	156,000	81,000		-147,250	389,000													-398,000	193,000	-45,750	15,000			-90,000	77,750	60,000	149,000				35,000	-78,000							-11,000	-72,000	124,000	191,000		-192,000	-191,000	-254,000
basic excluding the impact of accretion of redeemable non-controlling interest																										0.11
diluted excluding the impact of accretion of redeemable non-controlling interest																										0.1
net earnings per share
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
revenues:
software																																		12,012,000																									10,787,000
maintenance and technical support																																		15,210,000																									11,234,000
consulting services																																		112,725,000																									46,149,000
total revenues																																		139,947,000																									68,170,000																								16,819,000	15,266,000	16,189,000	15,117,000	15,503,000	15,016,000	15,017,000	14,768,000	15,702,000	15,503,000	17,031,000	17,031,000	15,015,000	16,667,000	16,454,000	17,295,000	17,295,000	15,668,000	15,301,000	15,126,000	13,761,000	13,761,000	13,821,000
yoy																																																																																			8.49%	1.66%	7.80%	2.36%	-1.27%	-3.14%	-11.83%	-13.29%	4.58%	-6.98%	3.51%	-1.53%	-13.18%	6.38%	7.54%	14.34%	25.68%	13.86%	10.71%
qoq																																																																																			10.17%	-5.70%	7.09%	-2.49%	3.24%	-0.01%	1.69%	-5.95%	1.28%	-8.97%	0.00%	13.43%	-9.91%	1.29%	-4.86%	0.00%	10.38%	2.40%	1.16%	9.92%	0.00%	-0.43%
cost of revenues:
total cost of revenues																																		94,728,000																									40,855,000																								7,717,000	6,790,000	7,303,000	7,312,000	6,178,000	7,252,000	7,252,000	6,501,000	6,746,000	6,178,000	6,845,000	6,846,000	5,712,000	6,481,000	6,440,000	6,186,000	6,185,000	5,840,000	5,879,000	6,235,000	7,577,000	7,577,000	6,856,000
operating costs and expenses:
selling and marketing																																		14,335,000																									11,061,000
general and administrative																																		12,215,000																									5,744,000
financial expense																																		-447,000
net income attributable to magic software enterprises’ shareholders																																		10,298,000
net earnings per share attributable to magic software enterprises’ shareholders:
basic earnings per share																																		0.23																																																							-0.07	-0.05	-0.04	0.01		0.05	0.02	0.03	0.02		-0.16	0.03	0.03	0.01		-0.02	-0.07
diluted earnings per share																																		0.23																																																							-0.07	-0.05	-0.04	0.01		0.06	0.02	0.03	0.02		-0.16	0.03	0.03	0.01		-0.02	-0.07
selling, marketing and general and
administrative expenses																																					12,823,000			12,514,000		11,033,000			9,677,000	8,916,000	10,765,000			8,565,000	8,411,000		6,837,500	8,520,000		9,509,000				8,914,000	8,805,000	8,000,000	9,867,000	5,941,250	7,981,000	7,790,000	7,994,000	7,870,000	5,359,000	7,396,000		6,835,000
net loss attributable to redeemable non-controlling interests																																					108,000
increase in value of put options of redeemable non-controlling interests
weighted-average number of shares used in
financial (expenses) income																																									-227,000																-90,000
change in current redeemable non-controlling interests																																									-458,000	-915,000
increase in valuation of contingent
consideration related to acquisitions																																										828,000
increase in value of put options of redeemable
non-controlling interests																																										-2,262,000
other income																																																																	69,000	67,000		33,000	33,000	19,000	62,000	11,000		61,000													1,169,000					1,169,000
change in redeemable non-controlling interests																																											-335,750	-706,000	-322,000	-315,000	9,000	-162,000	-284,000	-156,000	-208,000						-208,000		215,000	-208,000	-122,000	-95,000
other income (expenses)																																																2,000	8,000																										55,750	286,000
litigation costs																																																				1,553,000
other expenses																																																					16,750	67,000
net income attributable to magic software's shareholders																																																				2,820,000	3,146,000	4,237,000	3,852,000	4,495,000
net earnings per share attributable to magic software's shareholders:
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
weighted average number of shares used in computing net earnings per share attributable to magic software's shareholders:
basic														49,093																																						44,172																						31,942			31,894
diluted														49,123																																						44,440																						32,351			31,938
net earnings per share attributable to
magic software's shareholders:
basic																																																					0.073	0.1	44,158	0.11
diluted																																																					0.073	0.1	44,470	0.11
computing net earnings per share attributable to
selling, marketing and general and administrative																																																									10,513,000
other (expenses) income																																																									-12,000
net income attributable to magic software enterprises shareholders																																																											7,001,000
net earnings per share attributable to magic software enterprises' shareholders:
basic and diluted earnings per share																																																											0.19
taxes on income (benefit)																																																												357,000
minority interest																																																															-146,000
net income attributable to magic shareholders																																																																2,982,500	4,115,000	3,604,000	4,211,000	4,365,000	2,669,750	4,019,000	3,547,000	3,113,000
earnings per share																																																																0.083	0.11	0.1
number of shares used in computing earnings per share																																																																9,121.25	36,541	36,503
financial income (expenses)																																																																		-234,000
financial income																																																																			36,000					102,000		113,000			64,000																1,023,000	1,024,000	44,000			108,000	108,000	-31,000	-185,000	45,000	383,000	383,000	63,000
magic :
basic																																																																			0.12		0.073	0.11
diluted																																																																			0.11		0.073	0.11
magic:
basic																																																																			36,413		9,060.25	36,339		0.09
diluted																																																																			37,170		9,264.5	36,954		0.08
magic software:
basic																																																																				0.12
diluted																																																																				0.12
weighted-average number of shares in thousands
used in computing net earnings per share
basic																																																																				36,348
diluted																																																																				37,010
net earnings per share attributable to magic :
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
weighted-average number of shares used in computing net earnings per share attributable to magic:
basic	49,099	49,099	49,099		49,099	49,099	49,099	49,099	49,096	49,093	49,093	49,093	49,093		49,039	49,073		49,060	49,055	49,035	49,035		49,031	49,002	48,958	48,921		48,897	48,891		48,841		48,799		44,489	44,489			44,450		44,388			44,350					44,256																						36,299					31,894
diluted	49,099	49,099	49,099		49,099	49,099	49,099	49,099	49,115	49,133	49,136	49,131	49,128		49,083	49,120		49,107	49,091	49,082	49,053		49,049	49,042	49,046	49,021		48,991	48,985		48,961		48,959		44,631	44,635			44,609		44,554			44,530					44,457																						37,144					32,009
net earnings per share attributable to magic software:
basic												0.2	0.24		0.2		0.118	0.15	0.16	0.15		0.095	0.15	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.1	0.1	0.12								0.1			0.06
diluted												0.2	0.23		0.2		0.115	0.15	0.16	0.15		0.095	0.14	0.12	0.12		0.073	0.1	0.08	0.11	0.06	0.083	0.1		0.12	0.1	0.09	0.065	0.09	0.08	0.1		0.068	0.09	0.09	0.08	0.08	0.07	0.09	0.09	0.1	0.06			0.09		0.13			0.11	0.09	0.1	0.12								0.1			0.06
selling, general and administrative expenses																																																																											4,400,000	5,937,000	5,954,000
income after taxes on income																																																																											3,473,000	1,087,000	714,000
equity in losses of affiliates
basic net earnings per share																																																																											0.02	0.03	0.02
diluted net earnings per share																																																																											0.02	0.03	0.02
software sales																																																																																			3,476,000	4,846,000	3,627,000	3,449,000	4,870,000	3,727,000	3,269,000	3,798,000	4,408,000	4,870,000	4,961,000	3,913,500	4,713,000	5,481,000	5,461,000	6,361,000	3,338,000	4,750,000	4,525,000	4,077,000	3,575,000	10,930,000	3,446,000
applications																																																																																			1,615,000	1,406,000	1,817,000	1,484,000	2,208,000	2,003,000	2,003,000	2,196,000	1,894,000	2,208,000	2,649,000	2,649,000	1,317,000	1,778,000	1,664,000	2,252,000	2,252,000	1,700,000	1,661,000	1,664,000	1,253,000	1,525,500	1,921,000
maintenance and support																																																																																			4,071,000	3,486,000	3,731,000	3,870,000	3,545,000	3,365,000	2,752,500	3,607,000	3,858,000
consultancy & other services																																																																																			7,657,000	5,528,000	7,014,000	6,314,000	4,880,000	5,921,000	3,897,500	5,167,000	5,542,000	4,880,000	5,944,000	4,661,250	5,772,000	6,338,000	6,534,000	5,830,000	4,929,500	6,462,000	6,449,000	6,806,000	6,166,000	5,116,250	5,685,000
research & development																																																																																			1,029,000	865,000	828,000	1,338,000	1,054,000	900,000	708,250	826,000	954,000	1,054,000	1,036,000	702,500	736,000	869,000	1,205,000	1,385,000	847,500	1,242,000	1,142,000	1,006,000	1,322,000	1,003,500	1,299,000
sales, marketing, and general & administrative expenses																																																																																			6,683,000	7,286,000	7,617,000	7,532,000	8,237,000		6,238,250	8,164,000	8,549,000	8,237,000		5,657,000	7,224,000	7,927,000	7,477,000		5,318,500	6,928,000	7,125,000	7,220,000		5,510,500	7,317,000
depreciation																																																																																			379,000	488,000	419,000	454,000	430,000	402,000	326,500	418,000	458,000	430,000	399,000	341,250	431,000	495,000	439,000	415,000	328,000	502,000	397,000	413,000	450,000	320,750	414,000
operating profit																																																																																			1,011,000	-163,000
income before taxes																																																																																			1,000,000	-235,000	155,000	-3,453,000	453,000	-1,836,000	-498,500	-1,395,000	-1,052,000	453,000	1,925,000	647,000	956,000	854,000	779,000	1,596,000	591,000	1,125,000	943,000	297,000	-3,248,000	-483,750	-2,002,000
income before minority interests																																																																																			844,000		71,000	-3,508,000			-624,250	-1,612,000	-1,106,000			630,250	889,000	854,000			560,250	1,014,000	848,000
minority interests in income of subsidiaries																																																																																			2,000		37,000	26,000			48,000	28,000	52,000			54,250	126,000	30,000		224,000			96,000
equity gain																																																																																			-30,000	57,000	4,000	-49,000	53,000	-53,000	18,000	21,000			6,000	-18,250	17,000
basic profit per share																																																																																			0.03
diluted profit per share																																																																																			0.03
basic weighted avg. shares outstanding																																																																																			31,420		31,285					30,989	31,052
diluted weighted avg. shares outstanding																																																																																			31,955	31,094	31,793		31,904	31,054		30,989	31,052	31,904	31,982		32,030	32,335	32,501	31,319		30,685	30,021	29,535			29,748
restructuring expenses																																																																																					269,000	2,125,000
one time gain																																																																																					278,000
income before minority interest																																																																																				-282,000			222,000	-1,899,000					214,000				779,000	1,490,000				379,000	-3,295,000	-568,000	-2,070,000
minority interests in (income) losses of subsidiaries																																																																																				56,000			-112,000
earnings per share, basic																																																																																				-0.01
earnings per share,diluted																																																																																				-0.01
weighted avg. shares outstanding																																																																																				31,094			31,144					31,144			31,172	31,162	30,647			29,480	29,474	29,509			29,748
net profit																																																																																					30,000
basic and diluted loss per share																																																																																						-0.11
basic and diluted weighted avg. shares outstanding																																																																																						31,210
earnings per share, basic and diluted																																																																																							0.01	-0.06					0.05					0.04					-0.11
sales, marketing and general & administrative expenses
minority interests in income (losses) of subsidiaries																																																																																								39,000					5,000
basic weighted avg. shares outstanding (000’s),																																																																																								31,054					31,187					29,947
maintenance																																																																																												3,545,000	3,477,000	2,269,500	3,213,000	3,070,000	2,795,000	2,852,000	2,000,000	2,756,000	2,666,000	2,579,000	2,767,000	2,028,750	2,769,000
income before equity in earnings of affiliates minority interest																																																																																												222,000
equity in earnings of affiliates																																																																																												53,000
minority interest in income of subsidiaries																																																																																												112,000					61,000							25,750	85,000
sales, marketing, general and administrative expenses																																																																																													7,849,000					7,813,000					6,920,000
capital loss																																																																																																		8,000	8,750	35,000
equity gains																																																																																																90,000
restructuring costs & non-recurring expenses																																																																																																							1,123,000
equity losses																																																																																																		36,000
minority interests in income of subsidiaries and capital loss																																																																																																			92,500	166,000
minority interest in losses (income) of subsidiaries																																																																																																						-107,000
amortization
impairment expense
minority interests in losses (income) of subsidiaries																																																																																																							115,000
equity in losses of affiliate																																																																																																							-108,000
weighted avg. shares outstanding (000’s), basic and diluted																																																																																																							29,599
impairment expenses

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-11-03	2025-05-21	2025-03-11	2024-12-31	2024-08-14	2024-03-13	2023-12-31	2023-11-14	2023-05-18	2023-03-09	2022-12-31	2022-11-14	2021-12-31	2021-11-15	2020-12-31	2020-11-16	2020-03-09	2019-12-31	2019-08-06	2019-05-16	2018-12-31	2018-09-20	2018-06-30	2018-03-31	2017-12-31	2017-11-14	2017-09-30	2017-08-09	2017-06-30	2017-03-31	2016-12-31	2016-06-30	2016-03-31	2015-12-31	2014-09-30	2014-03-31	2013-11-08	2013-11-06	2013-09-30	2013-08-07	2013-06-30	2013-05-07	2013-03-31	2013-02-13	2012-12-31	2012-11-07	2012-09-30	2012-08-08	2012-06-30	2012-03-31	2012-02-14	2011-12-31	2011-09-30	2011-06-30	2010-12-31	2009-12-31	2009-09-30	2009-05-11	2009-03-31	2007-12-31	2007-08-09	2007-06-30	2007-05-14	2007-03-31	2007-02-26	2006-12-31	2006-11-09	2006-09-30	2006-08-17	2006-05-18	2006-03-31	2006-02-16	2005-12-31	2005-11-10	2005-09-30	2005-08-09	2005-06-30	2005-03-31	2005-02-16	2004-12-31	2004-11-04	2004-09-30	2004-08-05	2004-06-30	2004-03-31	2003-12-31	2003-11-05	2003-09-30	2003-08-11	2003-06-30	2003-03-31	2002-12-31	2002-11-13	2002-09-30

assets
current assets:
cash and cash equivalents	89,957,000	104,584,000	112,779,000	112,779,000	107,642,000	106,354,000	105,943,000	105,703,000	102,506,000	83,062,000	-88,127	82,762,000	88,090,000	97,164,000	88,127,000	79,395,000	81,915,000	81,915,000	97,348,000	88,682,000	87,126,000	78,220,000	78,220,000	72,741,000	76,076,000	77,174,000	77,174,000	87,294,000	87,294,000	89,526,000	75,314,000	65,827,000	65,739,000	62,188,000	75,455,000	87,419,000	38,469,000	38,300,000	38,300,000	38,469,000	38,469,000	36,741,000	36,741,000	37,582,000	37,744,000	37,100,000	37,100,000	42,400,000	42,400,000	38,778,000	28,711,000	28,711,000	35,139,000	38,938,000	43,661,000	24,350,000	20,392,000	20,447,000	20,447,000	12,178,000	12,316,000	12,316,000	11,782,000	11,782,000	8,162,000	8,162,000	7,651,000	7,651,000		9,850,000	9,850,000	9,116,000	9,116,000	8,874,000	8,874,000	9,025,000	9,025,000	8,794,000	7,580,000	7,580,000	8,849,000	8,849,000	9,220,000	9,220,000	8,116,000	13,581,000	12,797,000	12,797,000	13,315,000	13,315,000	13,537,000	24,785,000	24,882,000	24,882,000
short-term bank deposits		431,000	51,000	51,000	722,000	751,000	751,000	1,346,000	3,901,000	3,904,000		3,935,000	5,586,000	289,000	289,000	2,784,000	6,996,000	6,996,000	9,383,000	9,466,000	16,881,000	1,099,000	1,099,000	849,000	732,000	26,000	26,000			2,000	2,000	3,055,000	3,252,000	2,677,000										325,000		521,000	521,000	397,000	397,000	414,000	2,170,000	2,170,000	9,800,000	6,218,000	24,000	13,838,000	12,557,000	12,645,000	12,645,000	89,000
trade receivables	133,039,000	144,102,000	139,569,000	123,133,000	132,827,000	131,409,000	108,385,000	121,313,000		150,814,000	-91,986	143,776,000	116,975,000	123,169,000	111,059,000	99,798,000	96,694,000	96,694,000	88,732,000	94,132,000	90,274,000	81,165,000	81,165,000	82,872,000	82,051,000	77,176,000	77,176,000	74,183,000	74,183,000	68,130,000	62,047,000	53,332,000	52,120,000	52,374,000	39,371,000	37,357,000	30,048,000	30,595,000	30,595,000	30,048,000	30,048,000	29,461,000	29,461,000	28,367,000	28,367,000	27,405,000	27,405,000	23,685,000	23,685,000	25,644,000	24,946,000	24,946,000	21,813,000	20,738,000	17,801,000	12,004,000				12,941,000	12,577,000	12,577,000	13,631,000	13,631,000	12,231,000	12,231,000	12,943,000	12,943,000		14,785,000	14,785,000	14,612,000	14,572,000	16,087,000	16,087,000	17,921,000	17,921,000	19,366,000	20,543,000	20,543,000	20,954,000	20,954,000	21,697,000	21,697,000	22,660,000	19,725,000	17,306,000	17,306,000	16,620,000	16,620,000	16,505,000	13,605,000	14,810,000	14,810,000
unbilled receivables and contract assets	19,900,000			16,683,000			22,713,000				-19,073		25,096,000
other accounts receivable and prepaid expenses	22,856,000	21,094,000	23,800,000	23,553,000	20,391,000	18,813,000	18,833,000	13,632,000	14,673,000	13,203,000	-11,751	11,662,000	9,890,000	11,021,000	10,513,000	11,484,000	12,845,000	12,845,000	10,430,000	8,178,000	7,029,000	10,874,000	10,874,000	9,183,000	8,643,000	7,984,000	7,984,000	8,323,000	8,323,000	7,931,000	8,487,000	8,962,000	7,593,000	6,244,000	4,609,000	5,737,000	5,606,000	6,258,000	6,258,000	5,606,000	5,606,000	5,864,000	5,864,000	6,533,000	6,696,000	5,831,000	5,831,000	5,563,000	5,563,000	4,610,000	6,373,000	6,401,000	3,716,000	3,350,000	4,029,000	3,869,000	2,567,000	2,152,000	2,152,000	2,010,000													2,832,000							3,432,000						3,221,000						4,009,000
total current assets	265,752,000	270,211,000	276,199,000	276,199,000	261,582,000	257,327,000	256,625,000	241,994,000	270,415,000	250,983,000	-211,226	243,128,000	246,779,000	232,811,000	211,226,000	194,642,000	205,050,000	205,050,000	213,441,000	209,598,000	211,223,000	183,277,000	183,277,000	179,688,000	181,640,000	174,126,000	174,126,000	182,581,000	182,581,000	175,845,000	158,356,000	143,821,000	140,562,000	135,302,000	128,900,000	130,952,000	74,989,000	76,014,000	76,014,000	74,989,000	74,989,000	72,946,000	72,946,000	73,697,000	73,697,000	71,751,000	71,751,000	72,923,000	72,923,000	70,731,000	63,441,000	63,469,000	72,080,000	71,489,000	68,372,000	57,768,000	51,388,000	49,937,000	49,937,000	47,349,000	33,402,000	33,402,000	34,265,000	34,265,000	28,292,000	28,292,000	28,304,000	28,304,000		33,296,000	33,296,000	18,125,000	31,669,000	34,265,000	34,265,000	36,470,000	36,470,000	39,583,000	37,589,000	37,211,000	38,122,000	38,122,000	39,040,000	39,040,000	39,767,000	36,763,000	34,746,000	34,746,000	35,337,000	35,337,000	34,842,000	43,198,000	44,923,000	44,923,000
long-term assets:
deferred tax assets	5,735,000	5,300,000	4,895,000	4,895,000	7,232,000	8,432,000	6,729,000	7,154,000	4,004,000	5,162,000		1,825,000		4,182,000		2,280,000	2,188,000		1,881,000	1,923,000		3,017,000	3,017,000	2,985,000
right-of-use assets	25,490,000	23,648,000	24,707,000	24,707,000	25,023,000	25,718,000	25,718,000	23,507,000	26,319,000		-1,146
other long-term receivables	10,179,000			9,261,000			8,623,000		6,414,000	6,258,000		4,802,000	5,165,000	3,112,000	5,507,000	2,910,000	3,587,000	5,879,000	3,434,000	6,169,000	6,363,000	4,607,000	4,607,000	4,694,000	2,015,000	3,156,000	3,156,000	1,989,000	1,989,000	1,635,000	1,680,000	1,857,000	1,077,000	1,088,000	3,742,000	3,888,000	3,673,000	3,381,000	3,381,000	3,673,000	3,673,000	2,819,000	2,819,000	2,287,000	2,287,000	3,110,000	3,110,000	3,572,000	3,572,000	4,027,000	3,941,000	3,824,000	3,587,000	3,272,000	2,141,000	749,000
property and equipment	8,303,000	8,034,000	7,467,000	7,467,000	7,517,000	7,988,000		7,450,000		8,338,000		7,603,000	5,872,000	5,725,000	5,988,000	5,910,000	3,649,000	3,649,000	3,499,000	3,232,000	3,072,000	3,191,000	3,191,000	3,398,000	3,468,000	3,506,000	3,506,000	3,479,000	3,479,000	3,152,000	3,065,000	2,535,000	2,454,000	2,296,000	2,090,000	1,989,000	1,927,000	1,889,000	1,889,000	1,927,000	1,927,000	1,898,000	1,898,000	1,898,000	1,898,000	1,894,000	1,894,000	1,908,000	1,908,000	1,972,000	2,029,000	2,029,000	2,083,000	2,024,000	1,827,000	1,762,000	4,911,000	5,279,000	5,279,000	5,758,000													6,955,000							7,540,000						7,855,000						8,432,000
intangible assets	44,042,000			45,287,000			50,658,000				-53,404		51,390,000		53,404,000			51,128,000			41,479,000	45,901,000			51,011,000						56,180,000			33,575,000			29,368,000								29,661,000							25,848,000
goodwill	182,151,000			172,515,000			166,065,000				-135,682		146,803,000		135,682,000			117,743,000		151,941,000	95,006,000	95,897,000			98,189,000			149,773,000	149,773,000	149,142,000	91,002,000	101,409,000	101,691,000	63,308,000			50,792,000	79,516,000	79,516,000	80,160,000	80,160,000	75,008,000	75,008,000	74,005,000	44,344,000	75,244,000	75,244,000	65,672,000	65,672,000	65,953,000		38,534,000	49,571,000		24,624,000	16,735,000	16,900,000	16,267,000	16,267,000	15,986,000	21,521,000	21,521,000	21,654,000	21,654,000	21,624,000	21,624,000	21,749,000	21,749,000	21,800	22,290,000	22,290,000	20,762,000	20,762,000	20,968,000	20,968,000	21,056,000	21,056,000	21,210,000	21,762,000	21,684,000	21,477,000	21,477,000	21,472,000	21,472,000	21,985,000	20,776,000	20,649,000	20,649,000	20,286,000	20,286,000	20,395,000
total long-term assets	275,900,000			264,132,000			265,781,000	260,230,000			-5,981		245,266,000		236,160,000			199,556,000
total assets	541,652,000	534,110,000	540,331,000	540,331,000	526,964,000	524,420,000	522,406,000	502,224,000	521,036,000	510,970,000	-5,981	496,488,000	492,045,000	471,062,000	447,386,000	422,498,000	407,475,000	404,606,000	398,965,000	387,665,000	362,285,000	338,991,000	338,991,000	340,411,000	342,539,000	334,584,000	334,584,000	344,579,000	344,579,000	336,393,000	316,399,000	253,685,000	249,758,000	239,846,000	220,147,000	224,711,000	161,156,000	161,210,000	161,210,000	161,156,000	161,156,000	153,023,000	153,023,000	152,238,000	152,238,000	152,362,000	152,362,000	144,435,000	144,435,000	143,027,000	133,392,000		127,665,000	126,118,000			84,162,000	82,520,000	82,520,000		74,864,000	74,864,000	75,997,000	75,997,000	70,298,000	70,298,000	70,617,000	70,617,000	74,724	76,329,000	76,329,000	74,044,000		76,503,000	76,503,000	78,926,000	78,926,000	82,202,000	80,285,000		79,687,000	79,687,000	80,506,000	80,506,000	81,233,000		75,517,000	75,517,000	76,256,000	76,256,000	75,484,000		86,031,000	86,031,000
liabilities and equity
current liabilities:
short-term debt	28,531,000	23,941,000	23,169,000		25,888,000	28,914,000		30,818,000	26,203,000	20,667,000		21,378,000		15,347,000		10,748,000	7,079,000		8,899,000	8,809,000		9,316,000	9,316,000	10,135,000		9,734,000	9,734,000	9,373,000	9,373,000	8,013,000		1,154,000	9,000		1,051,000	1,055,000
trade payables	25,358,000	30,060,000	28,920,000	28,753,000	29,591,000	28,415,000	28,415,000	24,320,000	28,608,000	27,646,000	-14,250	25,236,000	24,711,000	18,870,000	14,250,000	11,871,000	10,990,000	10,990,000	11,982,000	14,571,000	14,036,000	13,026,000	13,026,000	13,862,000	12,185,000	8,020,000	8,020,000	8,631,000	8,631,000	6,607,000	8,393,000	6,342,000	6,443,000	6,331,000	3,663,000	4,574,000	4,286,000	3,597,000	3,597,000	4,286,000	4,286,000	4,720,000	4,720,000	4,722,000	4,722,000	4,403,000	4,403,000	3,894,000	3,894,000	3,996,000	3,545,000	3,545,000	3,703,000	3,609,000	2,994,000	2,662,000	2,845,000	2,943,000	2,943,000	2,999,000	3,687,000	3,687,000	3,747,000	3,747,000	3,491,000	3,491,000	3,157,000	3,157,000	2,953	2,387,000	2,387,000	3,479,000	3,319,000	2,377,000	2,377,000	2,583,000	2,583,000	2,634,000	2,920,000	2,920,000	2,666,000	2,666,000	2,745,000	2,745,000	3,369,000	3,249,000	2,690,000	2,690,000	2,516,000	2,516,000	2,495,000	2,831,000	2,588,000	2,588,000
dividend payable to magic software shareholders		16,055,000	11,587,000	11,587,000	10,016,000				14,728,000
accrued expenses and other accounts payable	55,973,000	53,411,000	58,042,000	58,209,000	45,269,000	41,492,000	41,492,000	40,152,000	40,760,000	49,585,000	-69	46,082,000	45,173,000	43,494,000	41,846,000	37,541,000	32,619,000	32,619,000	26,245,000	23,565,000	24,458,000	26,244,000	26,244,000	24,131,000	27,789,000	22,605,000	22,605,000	22,679,000	22,679,000	25,531,000	20,290,000	18,932,000	18,275,000	17,921,000	13,260,000	16,140,000	18,100,000	17,526,000	17,526,000	18,100,000	18,100,000	13,659,000	13,659,000	18,717,000	17,537,000	20,744,000	20,744,000	13,416,000	13,416,000	14,643,000	18,055,000	15,748,000	15,776,000	15,535,000	15,028,000	25,159,000	6,616,000	7,387,000	7,387,000	9,169,000													10,696,000							12,216,000						14,348,000						11,691,000
current maturities of lease liabilities	4,537,000	4,763,000	4,818,000	4,818,000	4,409,000	4,406,000	4,406,000	3,841,000	4,529,000
put options for non-controlling interests	22,846,000	20,695,000		20,066,000	19,520,000		18,252,000
liability in respect of business combinations	4,249,000	5,944,000	2,654,000	2,654,000	2,116,000	6,656,000	6,656,000	6,441,000	13,202,000		-10,926
deferred revenues and customer advances	23,802,000	23,645,000	21,031,000	21,031,000	20,949,000	13,848,000	13,537,000	10,782,000	17,112,000	10,898,000		10,998,000	10,771,000	9,820,000	8,793,000	8,958,000	8,724,000	8,724,000	10,009,000	8,588,000	4,857,000	9,082,000	9,082,000	9,814,000	5,586,000
total current liabilities	165,296,000	178,514,000	170,287,000	170,305,000	157,758,000	141,983,000	141,699,000	137,451,000	172,119,000	132,641,000	14,990	123,230,000	108,265,000	95,639,000	84,829,000	77,526,000	66,883,000	66,883,000	62,631,000	59,928,000	52,922,000	58,748,000	58,748,000	59,040,000	59,237,000	50,418,000	50,418,000	51,449,000	51,449,000	52,847,000	44,688,000	35,196,000	35,070,000	28,357,000	24,589,000	31,993,000	34,200,000	31,427,000	31,427,000	34,200,000	34,200,000	29,812,000	29,812,000	29,966,000	28,774,000	33,785,000	33,785,000	29,099,000	29,099,000	31,403,000	25,611,000	25,667,000	23,849,000	25,965,000	19,557,000	29,747,000	13,592,000	15,796,000	15,796,000	18,606,000	22,436,000	22,436,000	23,864,000	23,864,000	19,676,000	19,676,000	20,191,000	20,191,000	27,037	21,610,000	21,610,000	18,594,000	18,198,000	18,971,000	18,971,000	19,636,000	19,636,000	20,044,000	17,344,000	17,359,000	19,269,000	19,269,000	20,980,000	20,980,000	22,243,000	19,965,000	20,242,000	20,242,000	22,285,000	22,285,000	22,758,000	19,998,000	18,056,000	18,056,000
long term liabilities:																																					1,877,000								750,000
long-term debt	41,573,000	32,368,000	36,125,000		38,968,000	52,294,000	52,267,000	57,041,000	41,242,000	30,412,000	-13,352	37,727,000	20,155,000	27,741,000	13,352,000	18,070,000	15,540,000	15,540,000	19,880,000	19,622,000	19,388,000	25,491,000	25,491,000	26,962,000		32,697,000	32,697,000	36,654,000	36,654,000	35,226,000		3,095,000	3,279,000		1,625,000	2,037,000
long-term lease liabilities	23,326,000	21,049,000	22,040,000	22,040,000	22,489,000	23,101,000	23,101,000	21,174,000	23,230,000
deferred tax liabilities	7,847,000			7,848,000			11,610,000															10,937,000																2,857,000	2,857,000	2,774,000	2,774,000	2,351,000	2,351,000	2,355,000		2,391,000	2,391,000	720,000	720,000	281,000
employee benefit liabilities	1,313,000			1,181,000			1,116,000
total long-term liabilities	74,059,000			68,957,000			89,763,000	94,951,000			-4,608		77,680,000									40,392,000
equity:
magic software enterprises ltd shareholders’ equity:
share capital:
ordinary shares of nis 1 par value - authorized: 50,000,000 shares as of, june 30, 2025 and december 31, 2024; issued and outstanding: 49,099,305 shares as of june 30, 2025 and december 31, 2024	1,166,000
additional paid-in capital	169,722,000			180,336,000			182,607,000				-23,298		211,543,000		211,713,000			218,647,000			218,400,000	183,455,000			183,445,000						182,785,000			180,989,000			125,743,000								125,288,000							124,616,000			122,917,000	107,708,000				107,052,000													106,072,000							105,992,000						104,765,000						115,599,000
accumulated other comprehensive loss	-3,194,000			-12,114,000			-10,314,000				-398																				-7,428,000			-6,695,000			-1,848,000								-586,000															-1,026,000																										-80,000						-839,000
retained earnings	111,143,000			107,802,000			92,522,000						43,246,000		39,720,000			28,354,000			30,522,000	29,993,000			25,713,000						19,825,000
total equity attributable to magic software enterprises ltd shareholders	278,837,000			277,190,000			265,981,000
non-controlling interests	23,460,000	23,629,000	23,879,000	23,879,000	25,114,000	24,963,000	24,963,000	19,810,000	13,925,000	13,428,000	143	10,594,000	10,420,000	9,702,000	8,574,000	13,578,000	16,859,000	16,859,000	5,453,000	4,848,000	4,413,000	3,960,000	3,960,000	3,708,000	3,282,000	256,000	256,000	500,000	500,000	457,000	423,000	2,014,000	1,975,000	2,098,000	2,451,000	1,177,000	770,000	934,000	934,000	608,000	608,000	548,000	548,000	2,491,000	331,000	2,438,000	2,438,000	505,000	505,000	496,000	490,000	490,000	1,101,000	1,084,000
total equity	302,297,000	293,041,000	301,069,000	301,069,000	294,058,000	290,944,000	290,944,000	269,822,000			-600		275,668,000	269,568,000	269,006,000	260,862,000	264,697,000	264,697,000	254,853,000	248,464,000	248,369,000	214,236,000	214,236,000	212,626,000	213,563,000	205,370,000	205,370,000	207,048,000	207,048,000	200,710,000	196,641,000	198,101,000	194,270,000	193,106,000				122,905,000	122,905,000	120,195,000	120,195,000	116,530,000	116,530,000	120,277,000		116,632,000	116,632,000	113,508,000	113,508,000	110,244,000	105,331,000	105,646,000	101,765,000	98,118,000	88,865,000	57,188,000
total liabilities and equity	541,652,000	534,110,000	540,331,000	540,331,000	526,964,000	524,420,000	522,406,000	502,224,000	521,036,000																													161,210,000	161,210,000	161,156,000	161,156,000	153,023,000	153,023,000	152,238,000		152,362,000	152,362,000	144,435,000	144,435,000	143,027,000	133,392,000	134,055,000	127,665,000	126,118,000	111,950,000	87,551,000
other long-term receivables and investments in companies accounted for at equity		8,820,000	9,261,000		7,805,000	8,232,000		10,098,000
intangible assets and goodwill		218,097,000	217,802,000		217,805,000	216,723,000		212,021,000	205,745,000							187,108,000																			85,007,000	87,467,000
total long term assets		263,899,000	264,132,000		265,382,000	267,093,000			250,621,000	259,987,000		253,360,000
deferred tax liability		7,936,000	7,848,000		10,971,000	13,313,000		12,700,000	12,357,000	10,335,000		11,269,000	18,112,000	14,306,000	17,639,000	14,845,000	11,512,000	11,069,000	11,400,000	10,337,000	10,343,000		10,937,000		11,331,000										1,621,000	1,979,000	2,774,000								2,355,000			2,368,000	2,368,000	2,280,000		2,359,000
long-term liability in respect of business combinations			1,781,000		1,609,000	1,049,000		1,981,000	1,026,000
emolyee benefit liabilities		1,202,000			1,111,000
total long term liabilities		62,555,000	68,975,000		75,148,000	91,493,000			79,848,000	73,061,000		83,554,000			68,571,000			51,111,000
magic software enterprises shareholders’ equity		269,412,000			268,944,000			250,012,000	255,144,000
put options of non-controlling interests			20,066,000			18,252,000		21,097,000	26,977,000
accrued severance pay			1,181,000			1,116,000		1,024,000	902,000	2,476,000	-4,673	2,473,000	4,551,000	5,493,000	5,545,000	5,062,000	4,770,000	4,770,000	4,471,000	4,304,000	3,934,000	3,856,000	3,856,000	3,928,000	4,174,000	3,752,000	3,752,000	3,827,000	3,827,000	3,650,000	3,443,000	2,457,000	2,837,000	2,616,000	1,284,000	1,336,000	1,251,000	1,271,000	1,271,000	1,251,000	1,251,000	1,253,000	1,253,000	1,245,000	1,245,000	1,260,000	1,260,000	1,083,000	1,083,000	1,091,000	1,087,000	1,087,000	704,000	699,000	536,000	606,000	598,000	341,000	341,000	2,316,000	2,382,000	2,382,000	2,406,000	2,406,000	2,499,000	2,499,000	2,360,000	2,360,000		2,100,000	2,100,000	2,527,000	2,527,000	2,435,000	2,435,000	2,456,000	2,456,000	2,417,000	2,455,000	2,455,000	2,303,000	2,303,000	2,323,000	2,323,000	2,199,000	2,166,000	2,105,000	2,105,000	2,129,000	2,129,000	1,927,000	1,861,000	1,818,000	1,818,000
magic software enterprises shareholders' equity			277,190,000			265,981,000
short-term debts				23,187,000
long-term liabilities:
long-term debts				36,107,000
commitments and contingencies
equity
ordinary shares of nis 1 par value - authorized: 50,000,000 shares at, december 31, 2023 and 2024; issued and outstanding: 49,099,305 shares as of december 31, 2023 and 2024				1,166,000
property, plants and equipment							7,988,000				-5,988
short term debts							28,941,000
ordinary shares of nis 1 par value - authorized: 50,000,000 shares at, december 31, 2022 and 2023; issued and outstanding: 49,093,055 and 49,099,305 shares as of december 31, 2022 and 2023, respectively							1,166,000
trade and unbilled receivables									149,335,000
property, plants, and equipment									8,139,000
shareholders equity:
total shareholders equity									269,069,000	277,080,000		262,439,000
marketable securities												993,000	1,142,000	1,168,000	1,238,000	1,181,000	6,600,000	6,600,000	7,548,000	9,140,000	9,913,000	11,919,000	11,919,000	14,043,000	14,138,000																																			4,090,000													4,381,000							5,223,000
severance pay fund										1,575,000	-4,673	1,609,000	3,646,000	4,623,000	4,673,000	4,248,000	4,013,000	4,013,000	3,666,000	3,349,000	3,284,000	3,101,000	3,101,000	3,136,000	3,226,000	2,837,000	2,837,000	2,864,000	2,864,000	2,722,000	2,568,000	1,474,000	1,465,000	1,454,000	408,000	415,000	407,000	410,000	410,000	407,000	407,000	352,000	352,000	351,000	351,000	363,000	363,000	360,000	360,000	344,000	351,000	351,000	344,000	335,000	325,000	404,000	385,000	169,000	169,000	1,925,000	2,062,000	2,062,000	2,078,000	2,078,000	2,176,000	2,176,000	2,038,000	2,038,000		1,797,000	1,797,000	2,135,000	2,135,000	2,064,000	2,064,000	2,056,000	2,056,000	2,009,000	2,033,000	2,033,000	1,947,000	1,947,000	1,947,000	1,947,000	1,826,000	1,781,000	1,699,000	1,699,000	1,715,000	1,715,000	1,543,000	1,465,000	1,426,000	1,426,000
operating lease right-of-use assets										28,193,000		24,489,000	24,299,000	22,318,000	24,509,000	23,115,000	14,956,000	14,956,000	10,399,000	11,453,000
other long-term deposits										306,000		1,086,000		1,785,000		2,285,000	2,285,000		2,286,000
identifiable intangible assets and goodwill										210,155,000		211,946,000		196,506,000			171,747,000		160,359,000				141,798,000	146,510,000		147,204,000	147,204,000																								63,630,000			48,998,000
current maturities of operating lease liabilities										4,558,000	379	3,679,000	3,943,000	3,231,000	3,413,000	2,898,000	3,833,000	3,833,000	3,358,000	3,534,000
liabilities due to acquisition activities										19,287,000		15,857,000	6,635,000	4,877,000	4,998,000	5,510,000	3,638,000	3,638,000	2,138,000	861,000	910,000	1,080,000	1,080,000	1,098,000	3,906,000	3,040,000	3,040,000	2,279,000	2,279,000	2,545,000	6,478,000				504,000	539,000	1,331,000								1,192,000							1,350,000			2,990,000
long-term operating lease liabilities										24,155,000	121	21,537,000	20,970,000	19,680,000	21,109,000	20,220,000	11,119,000	11,119,000	6,971,000	7,852,000
long-term liabilities due to acquisition activities										5,683,000		10,548,000	13,892,000	13,683,000	10,926,000	9,325,000	11,039,000	8,613,000	9,441,000	9,317,000	94,000	108,000	108,000	575,000
redeemable non-controlling interests										28,188,000	14,611	27,265,000		24,952,000		16,588,000	21,915,000		29,318,000	27,841,000			25,615,000	26,249,000		28,981,000	28,981,000	29,223,000	29,223,000	27,994,000
magic software enterprises equity										263,652,000		251,845,000		259,866,000		247,284,000	247,838,000		249,400,000	243,616,000			210,276,000	208,918,000		205,114,000	205,114,000	206,548,000	206,548,000	200,253,000		196,087,000	192,295,000
total liabilities, redeemable non-controlling interests and equity										510,970,000		496,488,000		471,062,000		422,498,000	407,475,000		398,965,000	387,665,000			338,991,000	340,411,000		334,584,000	334,584,000	344,579,000	344,579,000	336,393,000
short-term deposits											-289
deferred taxes											-162
other accounts receivable											-5,507
short term debt											69		17,032,000		11,529,000			7,079,000			8,661,000				9,771,000						5,645,000			13,000
liabilities in respect of business combinations											-4,998
deferred revenue and customer advances											-8,793
redeemable non-controlling interest											-24,980		30,432,000		24,980,000			21,915,000			27,235,000	25,615,000			25,839,000						25,998,000	6,649,000	6,276,000	5,745,000	3,178,000	2,848,000	2,140,000			2,302,000	2,302,000	2,179,000	2,179,000		2,160,000
share capital											-1,164																																																		838,000	838,000	835,000	835,000	832,000	832,000	832,000	832,000	830	830,000	830,000	829,000		828,000	828,000	827,000	827,000	827,000	826,000		826,000	826,000	826,000	826,000	823,000		788,000	788,000	788,000	788,000	788,000		788,000	788,000
accumulated earnings											22,953																							15,679,000
total equity attributable to company shareholders’											-743
total liabilities, redeemable non-controlling interest and equity											-5,981		492,045,000		447,386,000			404,606,000			362,285,000	338,991,000			342,539,000						316,399,000	253,685,000	249,758,000	239,846,000	220,147,000	224,711,000
liabilities and shareholders equity
deferred tax asset													8,091,000		6,397,000			2,188,000			1,858,000				2,990,000
commitments and contingencies, see note 16
magic software enterprises equity:
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2021 and 2020; issued and outstanding: 49,073,055 and 49,035,055 shares at december 31, 2021 and 2020, respectively													1,165,000
accumulated other comprehensive income													9,294,000		7,835,000			-324,000			-6,125,000	-4,212,000			83,000																											-19,000			447,000	74,000																	-1,514,000							306,000
total equity attributable to magic software enterprises shareholders													265,248,000		260,432,000			247,838,000			243,956,000				210,281,000						196,218,000			191,008,000
long-term receivables:
total long-term receivables														36,020,000		34,838,000	27,029,000		21,666,000	22,894,000	11,505,000	10,725,000	10,725,000	10,815,000	8,231,000	9,748,000	9,748,000	8,746,000	8,746,000	8,254,000	7,796,000	5,920,000	5,051,000	5,365,000	4,150,000	4,303,000	4,080,000	3,791,000	3,791,000	4,080,000	4,080,000				2,638,000							4,175,000			2,466,000	1,153,000
non-current liabilities:
total non-current liabilities														80,903,000		67,522,000	53,980,000		52,163,000	51,432,000			40,392,000	42,496,000		49,815,000	49,815,000	56,859,000	56,859,000	54,842,000		13,739,000	14,142,000		5,700,000	6,018,000		4,534,000	4,534,000	4,459,000	4,459,000	4,502,000	4,502,000	1,995,000		1,945,000	1,945,000	1,828,000	1,828,000	1,380,000	2,450,000	305,000	2,051,000	2,035,000			615,000	418,000	418,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2020 and 2019; issued and outstanding: 49,035,055 and 48,939,538 shares at december 31, 2020 and 2019, respectively															1,164,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2019 and 2018; issued and outstanding: 48,939,538 and 48,861,038 shares at december 31, 2019 and 2018, respectively																		1,161,000
identifiable intangible assets and
long term liabilities: - sum																					33,759,000													10,022,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2017 and 2018; issued and outstanding: 44,488,578 and 48,861,038 shares at december 31, 2017 and 2018, respectively																					1,159,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at june 30, 2018 and december 31, 2017; issued and outstanding: 44,489,203 and 44,488,578 shares at june 30, 2018 and december 31, 2017, respectively																						1,040,000
total equity attributable to magic software enterprises’ shareholders																						210,276,000
8
long-term deferred tax liability																								11,031,000		12,388,000	12,388,000	12,918,000	12,918,000	12,673,000		6,348,000	6,151,000
long term debt																									27,814,000						29,756,000			3,257,000
long term liabilities due to acquisition activities																									581,000						3,379,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2016 and 2017; issued and outstanding: 44,355,770 and 44,488,578 shares at december 31, 2016 and 2017, respectively																									1,040,000
available-for-sale marketable securities																										11,766,000	11,766,000	12,781,000	12,781,000	10,256,000	12,506,000	12,645,000	11,858,000	11,819,000	9,465,000	439,000	866,000	861,000	861,000	866,000	866,000	880,000	880,000	890,000	890,000	894,000	894,000	878,000	878,000	1,285,000	1,241,000	1,241,000	1,612,000	2,245,000	2,857,000	3,680,000
long-term deferred tax assets																										3,755,000	3,755,000	3,893,000	3,893,000	3,897,000		2,589,000	2,509,000
deferred revenues																										7,019,000	7,019,000	8,487,000	8,487,000	10,151,000	3,882,000	8,768,000	10,343,000	4,092,000	4,994,000	8,245,000	9,040,000	7,447,000	7,447,000	9,040,000	9,040,000	9,082,000	9,082,000	4,160,000	4,160,000	6,247,000	6,247,000	9,421,000	9,421,000	10,480,000	4,011,000	4,011,000	4,320,000	6,790,000	1,526,000	1,569,000	3,664,000	4,996,000	4,996,000	2,314,000
cash flows from operating activities:
net income																														4,862,000
adjustments to reconcile net income from operations to
net cash from operating activities:
depreciation and amortization																														3,540,000
stock-based compensation																														16,000								70,000		92,000		93,000		75,000		143,000		143,000			186,000						64,000	56,000
amortization of marketable securities premium and accretion of discount																														66,000
gains reclassified into earnings from marketable securities																														-106,000
decrease (increase) in trade receivables																														-4,313,000
increase in other long-term and short-term accounts																														-300,000
decrease in trade payables																														-1,906,000
change in value of loans and deposits																														1,827,000
increase in accrued expenses and other accounts payable																														705,000
increase in deferred revenues																														6,151,000
change in deferred taxes																														-48,000
net cash from operating activities																														10,494,000
cash flows from investing activities:
capitalized software development costs																														-1,250,000
purchase of property and equipment																														-285,000
cash paid in conjunction with acquisitions, net of acquired cash																														-3,127,000
proceeds from maturity of marketable securities																														2,225,000
proceeds from short-term bank deposits
repayment of short-term loan to a related-party																														1,183,000
investment in short-term bank deposit
net cash from investing activities																														-1,254,000
cash flows from financing activities:
proceeds from exercise of options by employees																														254,000
dividend paid
dividend paid to non-controlling interests in subsidiaries																														-103,000
dividend paid to redeemable non-controlling interests																														-956,000
short-term credit																														-55,000
purchase of non-controlling interest
receipt of long-term loans from banks																														5,479,000
net cash from financing activities																														4,619,000
effect of exchange rate changes on cash and cash equivalents																														353,000
increase in cash and cash equivalents																														14,212,000
cash and cash equivalents at the beginning of the year																														75,314,000
cash and cash equivalents at the end of period																														89,526,000
long term deferred tax asset																															3,548,000			2,823,000
long term deferred tax liability																															12,494,000			5,726,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2015 and 2016; issued and outstanding: 44,335,220 and 44,355,770 shares at december 31, 2015 and 2016, respectively																															1,036,000
liabilities due to acquisition activities and other																																1,839,000	1,875,000	1,039,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2014 and 2015; issued and outstanding: 44,174,217 and 44,335,220 shares at december 31, 2014 and 2015, respectively																																		1,035,000
long-term deferred tax liabilty																																			2,287,000	2,106,000
shareholders' equity:
magic software shareholders' equity																																			184,229,000	182,675,000
total shareholders' equity																																			186,680,000	183,852,000	120,357,000								118,117,000																49,682,000	49,682,000	48,972,000	48,972,000	47,759,000	47,759,000	47,680,000	47,680,000		52,265,000	52,265,000	52,305,000	52,305,000	54,487,000	54,487,000	56,257,000	56,257,000	58,766,000	59,547,000	59,547,000	57,182,000	57,182,000	56,335,000	56,335,000	55,697,000	53,924,000	51,611,000	51,611,000	50,222,000	50,222,000	49,250,000	61,021,000	64,208,000	64,208,000
liabilities and shareholders' equity
magic software enterprises shareholders' equity:
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2012 and june 30, 2013; issued and outstanding: 36,626,728 and 36,748,312 shares at december 31, 2012 and june 30, 2013, respectively																																					815,000
accumulated deficit																																					-5,123,000								-7,727,000							-20,249,000			-35,293,000	-44,668,000				-38,848,000	-49,635,000	-49,635,000	-50,312,000	-50,312,000	-51,316,000	-51,316,000	-51,346,000	-51,346,000	-43,816	-46,479,000	-46,479,000	-46,310,000	-46,310,000	-44,319,000	-44,319,000	-42,700,000	-42,700,000	-41,540,000	-41,703,000	-41,703,000	-43,416,000	-43,416,000	-44,161,000	-44,161,000	-45,075,000	-45,793,000	-47,024,000	-47,024,000	-47,836,000	-47,836,000	-48,588,000	-48,860,000	-45,572,000	-45,572,000
total magic shareholders' equity																																					119,587,000								117,786,000
total liabilities, redeemable non-controlling interest and shareholders' equity																																					161,156,000								152,238,000
gaap operating income																																						4,970,000		4,067,000		4,641,000		4,258,000		4,122,000		3,803,000			4,176,000						812,000	740,000
amortization of capitalized software and other intangible assets																																						1,982,000		1,821,000		1,707,000		2,376,000		1,418,000		1,471,000			1,506,000
capitalization of software development																																						-1,066,000		-1,290,000		-1,210,000		-1,625,000		-1,131,000		-1,091,000			-1,376,000						-771,000	-755,000
total adjustments to gaap																																						986,000		623,000		590,000		826,000		430,000		523,000			316,000						243,000	170,000
non-gaap operating income																																						5,956,000		4,690,000		5,231,000		5,084,000		4,552,000		4,326,000			4,492,000						1,055,000	910,000
gaap net income																																						4,189,000		3,481,000		3,520,000		4,253,000		4,115,000		3,604,000			4,365,000						902,000	714,000
adjustments to gaap as above																																						986,000
unwinding of discount in connection with liabilities due to acquisitions																																						50,000		8,000		207,000
amortization expenses attributed to redeemable non-controlling interests																																						-55,000		-30,000		-30,000
deferred taxes on the above items																																						334,000				-47,000
non-gaap net income																																						5,504,000		3,792,000		4,240,000		5,096,000		4,483,000		4,064,000			4,681,000						1,145,000	884,000
non-gaap basic net earnings per share																																						150		100		120		140							130						40	30
weighted-average number of shares used in
computing basic net earnings per share																																						36,877,000		36,722,000		36,594,000		36,553,000
non-gaap diluted net earnings per share																																						150		100		110		140							130						40	30
computing diluted net earnings per share																																						37,437,000		37,293,000		37,148,000		37,091,000
non current liabilities:
long term liabilities																																						1,874,000	1,874,000	1,877,000	1,877,000	1,831,000	1,831,000
liability due to acquisition activities																																						1,389,000	1,389,000	1,331,000	1,331,000	1,418,000	1,418,000								1,350,000		1,338,000	1,326,000
redeemable non- controlling interest																																						2,344,000	2,344,000
magic shareholders' equity																																						121,971,000	121,971,000	119,587,000	119,587,000	115,982,000	115,982,000	117,786,000		114,194,000	114,194,000	113,003,000	113,003,000	109,748,000	104,841,000		100,664,000	97,034,000
taxes on the above items																																								-290,000				17,000		-62,000		-63,000
magic software enterprises ltd.
consolidated balance sheets
u.s. dollars in thousands
total other long-term receivables																																										3,171,000	3,171,000	2,638,000		3,473,000	3,473,000	3,932,000	3,932,000	4,371,000	4,292,000		3,931,000	3,607,000
short-term credit and current maturities of long term
loans																																												12,000								9,000
long-term loans																																												12,000		26,000	26,000	25,000	25,000	8,000	13,000		9,000	10,000	2,000	10,000	17,000	77,000	77,000	132,000	234,000	234,000	355,000	355,000	233,000	233,000	290,000	290,000	243	220,000	220,000	90,000	165,000	92,000	92,000	88,000	88,000	99,000	109,000		70,000	70,000	78,000	78,000	280,000	288,000	332,000	332,000	371,000	371,000	400,000	414,000	526,000	526,000
shareholders' equity																																																									69,955,000	66,306,000	66,306,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2011 and 2012; issued and outstanding: 36,490,020 and 36,626,728 shares at december 31, 2011 and 2012, respectively																																													811,000
non-gaap earnings per share																																														120		110
computing earnings per share																																														36,541,000		36,503,000
short-term credit and current maturities
of long term loans																																																		4,000			50,000
total adjustments to gaap as above																																																			316,000						243,000	170,000
weighted-average number of shares used in computing net earnings per share in thousand																																																			36,348,000
weighted-average number of shares in thousands used in computing net earnings per share																																																			37,084,000
short-term credit and current maturities of long term loans																																																						31,000			76,000	115,000	115,000
short-term credit and current maturities of long-term loans																																																				4,000			9,000	43,000				3,621,000													4,183,000
tax liability																																																				296,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2010 and 2011; issued and outstanding: 35,909,606 and 36,490,020 shares at december 31, 2010 and 2011, respectively																																																				808,000
share capital: - sum																																																				105,156,000
current assets of discontinued operations																																																								27,000		29,000	29,000	41,000
identifiable intangible assets																																																							14,661,000	10,133,000
current liabilities of discontinued operations																																																								314,000		355,000	355,000	503,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 shares at december 31, 2009 and 2010; issued and outstanding: 31,936,426 and 35,909,606 shares at december 31, 2009 and 2010, respectively																																																							794,000
ordinary shares of nis 0.1 par value - authorized: 50,000,000 share at december 31, 2008 and 2009; issued: 33,359,248 and 33,401,794 shares at december 31, 2008 and 2009, respectively; outstanding: 31,893,880 and 31,936,426 shares at december 31, 2008 and 2009, respectively																																																								846,000
treasury shares, at cost: 1,465,368 ordinary shares at december 31, 2008 and 2009																																																								-6,772,000
amortization of intangibles																																																									950,000	869,000
weighted-average number of shares used in computing basic net earnings per share																																																									31,894,000
weighted-average number of shares used in computing diluted net earnings per share																																																									32,276,000
available for sale marketable securities																																																									3,905,000	2,918,000	2,918,000
trade receivable																																																									11,935,000	11,746,000	11,746,000
current assets of discontinued operation																																																									32,000
long-term investments:
long-term lease deposits																																																									267,000	326,000	326,000	472,000													805,000							587,000
total long-term investments																																																									652,000	495,000	495,000	2,524,000													3,138,000							2,799,000						2,160,000						2,317,000
other intangible assets																																																									10,311,000	10,542,000	10,542,000	10,681,000													11,199,000							11,051,000						10,246,000						9,854,000
current liabilities of discontinued operation																																																									391,000
total liabilities and shareholders' equity																																																									84,162,000	82,520,000	82,520,000
weighted average number of shares used in computing basic net earnings per share																																																										31,894,000
weighted average number of shares used in computing diluted net earnings per share																																																										31,947,000
receivables from a sale of subsidiary																																																												16,000,000
investments in an affiliated company																																																												127,000
liabilities and shareholders’ equity
minority interest																																																																									528,000							830,000						1,457,000						1,228,000
commitments and contingenties
shareholders’ equity
authorized: 50,000,000 ordinary shares of nis 0.1 par value at december 31, 2006 and 2007; issued: 32,599,213 and 32,794,939 shares at december 31, 2006 and 2007, respectively; outstanding: 31,323,845 and 31,542,050 shares at december 31, 2006 and 2007, respectively																																																												838,000
treasury shares, at cost: 1,275,368 ordinary shares at december 31, 2006 and 2007.																																																												-6,772,000
total shareholders’ equity																																																												61,244,000
current assets
short term deposits																																																													81,000	81,000	68,000	68,000	69,000	69,000	168,000	168,000	170	68,000	68,000	368,000		300,000	300,000
short term marketable securities																																																													4,611,000	4,611,000	4,613,000	4,613,000	4,649,000	4,649,000	4,403,000	4,403,000		4,326,000	4,326,000	4,381,000		4,289,000	4,289,000	5,057,000	5,057,000	5,096,000	5,223,000		4,491,000	4,491,000	4,226,000	4,226,000	4,452,000
accounts receivables
other receivables and prepaid expenses																																																													3,585,000	3,585,000	3,881,000	3,881,000	2,853,000	2,853,000	2,911,000	2,911,000		3,800,000	3,800,000	3,113,000		4,083,000	4,083,000	3,773,000	3,773,000	5,584,000	3,767,000		3,439,000	3,439,000	3,500,000	3,500,000	4,154,000		4,224,000	4,224,000	4,925,000	4,925,000	4,359,000		4,649,000	4,649,000
inventory																																																													232,000	232,000	290,000	290,000	328,000	328,000	228,000	228,000	422	467,000	467,000	400,000	400,000	632,000	632,000	694,000	694,000	743,000	433,000		389,000	389,000	397,000	397,000	376,000				185,000	185,000	184,000		219,000	219,000
long term deposits																																																													540,000	540,000	562,000	562,000	566,000	566,000	619,000	619,000	628	621,000	621,000	805,000		887,000	887,000	931,000	931,000	853,000			233,000	233,000	226,000	226,000	202,000
investments in affiliated companies																																																													193,000	193,000	223,000	223,000	223,000	223,000	218,000	218,000		255,000	255,000	198,000	198,000	251,000	251,000	230,000	230,000	232,000		179,000	173,000	173,000	190,000	190,000	100,000	100,000	137,000	137,000	108,000	108,000	748,000
fixed assets																																																													6,234,000	6,234,000	6,440,000	6,440,000	6,554,000	6,554,000	6,588,000	6,588,000	6,577	6,770,000	6,770,000	7,028,000		6,953,000	6,953,000	7,122,000	7,122,000	7,309,000	7,540,000		7,301,000	7,301,000	7,445,000	7,445,000	7,753,000		7,896,000	7,896,000	8,178,000	8,178,000	8,096,000		8,586,000	8,586,000
other assets																																																													10,912,000	10,912,000	10,775,000	10,775,000	10,863,000	10,863,000	11,101,000	11,101,000		11,300,000	11,300,000	11,126,000		11,115,000	11,115,000	11,061,000	11,061,000	11,006,000	10,973,000		10,434,000	10,434,000	10,186,000	10,186,000	9,600,000		10,390,000	10,390,000	10,632,000	10,632,000	9,860,000		30,791,000	30,791,000
liabilities
current liabilities
short-term bank credit																																																													4,107,000	4,107,000	4,051,000	4,051,000
accrued expenses and other liabilities																																																													14,642,000	14,642,000	16,066,000	16,066,000	11,671,000	11,671,000	12,670,000	12,670,000		15,024,000	15,024,000	11,017,000		12,952,000	12,952,000	14,069,000	14,069,000	15,111,000	12,216,000		14,509,000	14,509,000	16,364,000	16,364,000	18,682,000		14,850,000	14,850,000	17,420,000	17,420,000	17,879,000		13,557,000	13,557,000
minority interests																																																													130,000	130,000	132,000	132,000	131,000	131,000	96,000	96,000		134,000	134,000	528,000		518,000	518,000	489,000	489,000	876,000	830,000		863,000	863,000	790,000	790,000	814,000		1,227,000	1,227,000	1,249,000	1,249,000	1,149,000		1,423,000	1,423,000
capital surplus																																																													105,251,000	105,251,000	105,222,000	105,222,000	105,016,000	105,016,000	104,967,000	104,967,000		104,686,000	104,686,000	104,558,000		104,751,000	104,751,000	104,890,000	104,890,000	105,631,000	106,299,000		105,545,000	105,545,000	105,443,000	105,443,000	105,722,000		103,620,000	103,620,000	103,043,000	103,043,000	102,823,000		114,491,000	114,491,000
treasury stock																																																													-6,772,000	-6,772,000	-6,773,000	-6,773,000	-6,773,000	-6,773,000	-6,773,000	-6,773,000		-6,772,000	-6,772,000	-6,772,000		-6,773,000	-6,773,000	-6,760,000	-6,760,000	-6,152,000	-5,875,000		-5,773,000	-5,773,000	-5,773,000	-5,773,000	-5,773,000		-5,773,000	-5,773,000	-5,773,000	-5,773,000	-5,773,000		-5,499,000	-5,499,000
total liabilities and shareholders’ equity																																																													74,864,000	74,864,000	75,729,000	75,729,000	70,298,000	70,298,000	70,617,000	70,617,000		76,329,000	76,329,000	74,044,000		76,503,000	76,503,000	78,926,000	78,926,000	82,202,000	80,285,000		79,687,000	79,687,000	80,506,000	80,506,000	81,233,000		75,517,000	75,517,000	76,256,000	76,256,000	75,484,000		86,031,000	86,031,000
current assets - sum																																																																	12,880,000		12,222,000			14,244,000		13,865,000		13,463,000		14,082,000			12,803,000
short-term bank debt																																																																	4,514,000	4,514,000	4,364,000	4,364,000	5,064	4,199,000	4,199,000	4,098,000		3,642,000	3,642,000	2,984,000	2,984,000	2,299,000	2,208,000		2,094,000	2,094,000	1,871,000	1,871,000	192,000		2,702,000	2,702,000	2,349,000	2,349,000	2,384,000		1,911,000	1,911,000
canh and cash equivalents																																																																					9,975
short term parketable securities																																																																					4,333
trare receivables																																																																					13,276
other reseivables and prepaid expenses																																																																					3,265
total currevt assets																																																																					31,438
severance pay xund																																																																					1,981
investments in affiliated comzanies																																																																					267
other assbts																																																																					12,089
current liabidities
accrued efpenses and other liabilities																																																																					13,026
ackrued severance pay																																																																					2,296
minornty interests																																																																					122
shareholders' oquity
capitap surplus																																																																					104,835
treasury stqck																																																																					-6,773
total shareholders' equisy																																																																					51,076
total liabilities anu shareholders’ equity																																																																					74,774
short term bank deposits																																																																									368,000
authorized: 50,000,000 ordinary shares of nis 0.1 par value at december 31, 2004 and 2005; issued: 32,265,263 and 32,345,867 shares at december 31, 2004 and 2005, respectively; outstanding: 31,180,275 and 31,070,499 shares at december 31, 2004 and 2005, respectively																																																																									829,000
treasury shares, at cost: : 1,084,988 and 1,275,368 ordinary shares at december 31, 2004 and 2005, respectively																																																																									-6,772,000
accounts receivable
related parties																																																																															43,000						9,000		228,000	228,000	292,000	292,000	257,000		363,000	363,000
long term receivables and investments																																																																															388,000														305,000	305,000
inventories																																																																																433,000						188,000	191,000	191,000				175,000
short-term bank credit and current maturities of long-term loans																																																																																2,223,000						2,368,000						3,464,000
long-term bank loans																																																																																94,000
authorized: 50,000,000 ordinary shares of nis 0.1 par value as of december 31, 2003 and 2004; issued 31,291,712 and 32,265,263 as of december 31, 2003 and 2004, respectively; outstanding: 30,238,324 and 31,180,275 shares as of december 31, 2003 and 2004, respectively																																																																																827,000
treasury shares, at cost: 1,084,988 ordinary shares																																																																																-5,875,000
related parties receivables																																																																																						48,000						624,000
long-term deposits																																																																																						279,000						104,000
restructuring accrual																																																																																												2,012,000
commitments and contingent liabilities
authorized: 50,000,000 ordinary shares of nis 0.1 par value as of december 31, 2002 and 2003; issued 30,516,428 and 31,291,712 of december 31, 2002 and 2003, respectively; outstanding: 29,555,240 and 30,238,324 shares as of december 31, 2002 and 2003, respectively																																																																																						805,000
treasury shares, at cost																																																																																						-5,773,000						-5,667,000
investments in other companies																																																																																												748,000
goodwill,																																																																																												20,721,000
authorized: 50,000,000 ordinary shares of nis 0.1 par value as of december 31, 2001 and 2002; issued 30,461,259 and 30,516,428 shares as of december 31, 2001 and 2002, respectively; outstanding: 29,743,121 and 29,555,240 shares as of december 31, 2001 and 2002, respectively																																																																																												788,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-08-13	2025-05-21	2024-12-31	2024-11-18	2024-08-14	2024-05-16	2023-12-31	2023-11-14	2023-08-14	2023-05-18	2022-12-31	2022-11-14	2022-08-11	2022-05-12	2021-12-31	2021-11-15	2021-08-12	2021-05-10	2020-12-31	2020-11-16	2020-08-13	2020-05-26	2019-12-31	2019-11-14	2019-08-06	2019-05-16	2018-12-31	2018-11-13	2018-06-30	2018-05-16	2017-12-31	2017-11-14	2017-08-09	2017-05-16

assets
current assets:
cash and cash equivalents	-14,627,000	104,584,000		-8,700,000	-18,161,000	125,803,000		1,084,000	2,113,000	102,506,000			-22,394,000	110,647,000		-5,610,000	5,212,000	97,562,000							8,666,000	88,682,000				72,741,000		-10,120,000	-2,232,000	89,526,000
short-term bank deposits		431,000		17,000	673,000	49,000		-59,000	-2,496,000	3,901,000			2,403,000	618,000		0	0	289,000							-83,000	9,466,000				849,000				2,000
trade receivables	8,837,000	144,102,000	-147,692,000	10,282,000	6,498,000	126,329,000	-102,887,000	-12,939,000	140,025,000	-5,773,000	-1,244,000	-144,675,000	-7,681,000	151,031,000	-150,708,000	4,680,000	4,622,000	113,867,000	-9,858,000	-86,994,000	91,042,000	1,871,000			-5,400,000	94,132,000				82,872,000		2,993,000	6,053,000	68,130,000
other accounts receivable and prepaid expenses	1,762,000	21,094,000		-1,265,000	-1,174,000	21,565,000		-5,137,000	4,096,000	14,673,000			563,000	10,561,000		1,093,000	-1,495,000	11,423,000							2,252,000	8,178,000				9,183,000		-339,000	392,000	7,931,000
total current assets	-4,459,000	270,211,000		334,000	-12,164,000	273,746,000		-17,051,000	-11,370,000	270,415,000			-27,180,000	273,977,000		120,000	8,365,000	224,326,000							3,843,000	209,598,000				179,688,000		-8,455,000	6,736,000	175,845,000
long-term assets:
deferred tax assets	435,000	5,300,000		-1,693,000	-3,552,000	10,784,000		2,043,000	1,107,000	4,004,000			-5,288,000	7,733,000		-1,738,000	-128,000	6,048,000							-42,000	1,923,000				2,985,000
right-of-use assets	1,842,000	23,648,000		-437,000	795,000	24,228,000		-1,183,000	-1,629,000	26,319,000
other long-term receivables and investments in companies accounted for at equity	1,359,000	8,820,000		453,000	74,000	7,731,000
property and equipment	269,000	8,034,000		-131,000	-190,000	7,707,000		-404,000					1,088,000	5,748,000		-175,000	-143,000	6,043,000							267,000	3,232,000				3,398,000		27,000	327,000	3,152,000
intangible assets and goodwill	8,096,000	218,097,000		803,000	5,484,000	212,321,000		-14,627,000	20,903,000	205,745,000
total long term assets	12,001,000	263,899,000		-1,005,000	2,611,000	262,771,000				250,621,000
total assets	7,542,000	534,110,000		-671,000	-9,553,000	536,517,000		-27,533,000	8,721,000	521,036,000			-46,710,000	541,156,000		-4,446,000	20,498,000	455,010,000							11,300,000	387,665,000				340,411,000		-9,995,000	8,186,000	336,393,000
liabilities and equity
current liabilities:
short-term debt	4,590,000	23,941,000		1,129,000	-10,875,000	36,763,000		-115,000	4,730,000	26,203,000			-1,130,000	20,831,000		2,970,000	1,274,000	11,103,000							90,000	8,809,000				10,135,000		361,000	1,360,000	8,013,000
trade payables	-4,702,000	30,060,000	-27,298,000	-1,783,000	2,465,000	27,126,000	-23,462,000	-1,420,000	-2,868,000	28,608,000	2,390,000	-25,237,000	-4,005,000	26,991,000	-10,099,000	-938,000	4,953,000	14,855,000	2,078,000	-11,214,000	10,883,000	152,000			-2,589,000	14,571,000				13,862,000		-611,000	2,024,000	6,607,000
dividend payable to magic software shareholders		16,055,000								14,728,000				10,612,000
accrued expenses and other accounts payable	2,562,000	53,411,000	-35,359,000	3,737,000	1,276,000	43,993,000	-47,342,000	-4,260,000	3,652,000	40,760,000	-2,176,000	-39,964,000	-5,397,000	46,562,000	-37,099,000	88,000	-11,746,000	55,152,000	4,372,000	-28,158,000	31,928,000	33,000			2,680,000	23,565,000				24,131,000		-74,000	-2,852,000	25,531,000
current maturities of lease liabilities	-226,000	4,763,000		-39,000	-1,566,000	5,975,000		-470,000	-218,000	4,529,000
liability in respect of business combinations	-1,695,000	5,944,000		-237,000	-4,966,000	7,082,000		-244,000	-6,517,000	13,202,000
put options for non-controlling interests	2,151,000	20,695,000		318,000	689,000	18,831,000
deferred revenues and customer advances	157,000	23,645,000		-1,764,000	-864,000	21,813,000		-3,363,000	-2,967,000	17,112,000			-3,590,000	16,813,000		-2,931,000	-916,000	13,667,000							1,421,000	8,588,000				9,814,000
total current liabilities	-13,218,000	178,514,000		-8,655,000	-3,825,000	161,583,000		-10,475,000	-24,193,000	172,119,000			-32,276,000	138,977,000		-1,305,000	-6,627,000	103,571,000							2,703,000	59,928,000				59,040,000		-1,031,000	-1,398,000	52,847,000
long term liabilities:
long-term debt	9,205,000	32,368,000		-229,000	-2,660,000	41,628,000		-1,621,000	17,420,000	41,242,000			-2,390,000	39,168,000		2,945,000	12,886,000	11,910,000							258,000	19,622,000				26,962,000		-3,957,000	1,428,000	35,226,000
deferred tax liability	-89,000	7,936,000		-2,080,000	-3,608,000	14,579,000		2,042,000	-1,699,000	12,357,000			-4,748,000	17,765,000		-3,505,000	935,000	16,876,000							1,063,000	10,337,000
long-term lease liabilities	2,277,000	21,049,000		-277,000	2,417,000	20,072,000		-625,000	-1,431,000	23,230,000
long-term liability in respect of business combinations				61,000	533,000	1,076,000		990,000	-35,000	1,026,000
employee benefit liabilities
total long term liabilities	11,504,000	62,555,000		-2,511,000	-3,301,000	78,449,000				79,848,000
equity:
magic software enterprises shareholders’ equity	9,425,000	269,412,000		10,470,000	-3,373,000	272,317,000		-12,415,000	7,283,000	255,144,000
non-controlling interests	-169,000	23,629,000		25,000	946,000	24,168,000		-5,373,000	11,258,000	13,925,000			-507,000	10,728,000		511,000	631,000	8,560,000							605,000	4,848,000				3,708,000		-244,000	43,000	457,000
total equity	9,256,000	293,041,000		10,495,000	-2,427,000	296,485,000		-17,788,000					-5,236,000	272,707,000		-3,180,000	9,949,000	262,799,000							6,389,000	248,464,000				212,626,000		-1,678,000	6,338,000	200,710,000
total liabilities and equity	7,542,000	534,110,000		-671,000	-9,553,000	536,517,000		-27,533,000	8,721,000	521,036,000
cash flows from operating activities:
net income	11,540,000	11,640,000	12,307,000	10,315,000	10,680,000	9,989,000	9,304,000	8,685,000	12,678,000	11,835,000	11,319,000	12,907,000	10,889,000	11,164,000	8,264,000	8,762,000	9,086,000	8,792,000	7,811,000	8,405,000	6,626,000	7,275,000	6,401,000	6,494,000	6,175,000	6,528,000	6,242,000	5,946,000	6,800,000	5,788,000	4,271,000	4,620,000	4,161,000	4,862,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	5,719,000	5,277,000	5,392,000	5,264,000	5,217,000	4,889,000	5,135,000	5,501,000	4,865,000	5,052,000	7,997,000	3,461,000	4,496,000	3,841,000	3,906,000	3,951,000	3,490,000	3,505,000	3,843,000	3,776,000	3,309,000	3,011,000	3,988,000	3,899,000	3,288,000	2,850,000	3,063,000	3,155,000	3,183,000	3,163,000	3,303,000	3,417,000	3,351,000	3,540,000
cost of share-based payment	102,000	-65,000	337,000	75,000	611,000	584,000	1,967,000	600,000	609,000	622,000
change in deferred taxes	-529,000	-900,000		-406,000	-805,000	-754,000		-123,000	-3,608,000	1,351,000		-1,460,000	-558,000	-605,000	-570,000	-1,838,000	-301,000	-290,000	-1,268,000	-281,000	-198,000	97,000	-1,135,000	-366,000	-242,000	-150,000	177,000	513,000	64,000	-228,000	-910,000	-395,000	245,000	-48,000
capital gain on sale of fixed assets	20,000	-1,000				13,000		28,000
change in value of financial assets measured at fair value through profit or loss	76,000	-9,000
effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency	-1,388,000	70,000	-163,000	-308,000	219,000	170,000			175,000	731,000
changes in value of short-term and long-term loans from banks and others and deposits	94,000	-685,000	6,000	407,000	-270,000	-819,000	-562,000	1,596,000
working capital adjustments:
other current and long-term accounts receivable	-1,230,000	2,598,000	-4,722,000	2,047,000	-738,000	-1,333,000	-4,557,000	7,394,000	-10,035,000	1,612,000
deferred revenues	-1,419,000	2,719,000	1,842,000	-2,137,000	-604,000	8,508,000	2,371,000	-3,031,000	-3,019,000	7,458,000	-1,461,000	-2,127,000	-3,115,000	6,190,000			-1,301,000	5,162,000	-535,000	-1,391,000	-200,000	1,190,000										-1,468,000	-1,664,000	10,151,000
net cash from operating activities			25,713,000	7,741,000	13,702,000	27,677,000	3,496,000	22,855,000	23,888,000	18,753,000	19,082,000	21,871,000	4,493,000	11,169,000	3,659,000	6,111,000	12,174,000	15,866,000	10,963,000	13,254,000	14,952,000	13,127,000	13,253,000	6,110,000	15,893,000	10,692,000	3,773,000	4,191,000	8,813,000	7,273,000	7,719,000	2,652,000	4,643,000	10,494,000
capital expenditures			-535,000	-1,106,000	-1,073,000	-1,028,000	-779,000	-1,121,000	-917,000	-1,142,000	-1,078,000	-1,821,000	-2,636,000	-1,175,000	-1,366,000	-957,000	-976,000	-1,333,000	-1,152,000	-1,573,000	-2,017,000	-1,332,000	-1,337,000	-1,263,000	-1,691,000	-1,231,000	-1,212,000	-1,024,000	0	-1,055,000	-1,041,000	-1,118,000	-1,477,000	-1,535,000
free cash flows			25,178,000	6,635,000	12,629,000	26,649,000	2,717,000	21,734,000	22,971,000	17,611,000	18,004,000	20,050,000	1,857,000	9,994,000	2,293,000	5,154,000	11,198,000	14,533,000	9,811,000	11,681,000	12,935,000	11,795,000	11,916,000	4,847,000	14,202,000	9,461,000	2,561,000	3,167,000	8,813,000	6,218,000	6,678,000	1,534,000	3,166,000	8,959,000
cash flows from investing activities:
capitalized software development costs	-491,000	-496,000		-724,000	-735,000	-748,000		-907,000	-723,000	-711,000		-724,000	-732,000	-873,000	-848,000	-724,000	-798,000	-823,000	-828,000	-785,000	-845,000	-844,000	-1,015,000	-876,000	-1,298,000	-954,000	-964,000	-809,000		-798,000	-818,000	-813,000	-890,000	-1,250,000
purchase of property and equipment	-303,000	-524,000	-535,000	-382,000	-338,000	-280,000	-779,000	-214,000	-194,000	-431,000	-1,078,000	-1,097,000	-1,904,000	-302,000	-518,000	-233,000	-178,000	-510,000	-324,000	-788,000	-1,172,000	-488,000	-322,000	-387,000	-393,000	-277,000	-248,000	-215,000		-257,000	-223,000	-305,000	-587,000	-285,000
cash paid in conjunction with deferred payments and contingent liabilities related to business combinations	21,000	-3,635,000	4,992,000
payments for business acquisitions, net of cash acquired					-9,999,000	-249,000
proceeds from sale of property and equipment	0	47,000				15,000		13,000
proceeds from sale of financial assets	-1,127,000	595,000
change in short-term and long-term deposits	693,000	-649,000
investment in a company accounted for at equity
net cash from investing activities	-3,035,000	-4,662,000	-697,000	-3,694,000	-16,956,000	-1,265,000	4,715,000	-912,000	-20,180,000	-11,239,000	-7,142,000	-13,562,000	-6,393,000	-7,361,000	-4,886,000	-2,821,000	-7,814,000	-1,333,000	1,348,000	-5,969,000	-6,053,000	1,070,000	2,259,000	-15,888,000	-1,892,000	81,000	-13,932,000	-1,478,000		-4,152,000	-4,263,000	-2,155,000	-4,747,000	-1,254,000
cash flows from financing activities:
proceeds from sale of non-controlling interest				0
dividend paid to magic’s shareholders	-16,058,000	-11,587,000
dividend paid to non-controlling interests	-1,686,000	-3,546,000	-2,904,000	-2,756,000	-124,000	-2,086,000	-130,000	-1,192,000	-1,207,000	-1,526,000	-3,930,000	-52,000	-125,000	-63,000	302,000	-93,000	-571,000	-207,000	5,477,000	-1,232,000			-57,000	-344,000			0
repayment of lease liabilities	-1,556,000	-1,553,000	-1,586,000	-1,487,000	-1,496,000	-1,460,000	-1,594,000	-1,376,000	-1,340,000	-1,380,000
purchase of non-controlling interest																				0	-2,970,000	-15,046,000
receipt of short-term and long-term loans from banks and others	16,923,000	9,453,000				5,006,000
repayment of short-term and long-term loans	-7,382,000	-11,242,000		-1,751,000	-18,444,000	-6,574,000		-1,736,000	-3,419,000	-7,323,000		-1,142,000	-3,101,000	-1,740,000	-10,053,000	-1,429,000	-1,819,000	-1,166,000	-6,558,000	-706,000	-134,000	-1,971,000	-5,943,000	-1,087,000	-5,904,000	-690,000
net cash from financing activities	-23,612,000	-18,475,000	-11,412,000	-14,116,000	-14,189,000	-5,428,000	-10,390,000	-20,359,000	-64,000	13,520,000	-9,580,000	-13,048,000	-15,142,000	19,494,000		-8,013,000	-81,000	-3,915,000	-7,216,000	-7,427,000	-7,070,000	-17,934,000	-11,048,000	-10,695,000	-6,181,000	-9,056,000	-8,759,000	25,577,000		-6,648,000	-5,376,000	-10,877,000	-2,678,000	4,619,000
effect of exchange rate changes on cash and cash equivalents	5,736,000	43,000	232,000	1,370,000	-718,000	-1,124,000	2,419,000	-500,000	-1,531,000	-1,590,000	-2,060,000	-752,000	-5,352,000	-745,000	879,000	-887,000	933,000	-1,183,000	3,637,000	514,000	558,000	-1,542,000	562,000	14,000	846,000	-161,000	-713,000	247,000		192,000	822,000	260,000	550,000	353,000
increase in cash and cash equivalents	-14,627,000	-8,195,000	13,837,000	-8,700,000	-18,161,000	19,860,000	240,000	1,084,000				-5,491,000	-22,394,000	22,557,000	-9,074,000	-5,610,000	5,212,000	9,435,000			2,387,000	-5,279,000			8,666,000	1,556,000	-19,631,000	28,537,000		-3,335,000	-1,098,000	-10,120,000	-2,232,000	14,212,000
cash and cash equivalents at the beginning of the period	0	112,779,000		0	0	105,943,000		0	0	83,062,000		0	0	88,090,000		0	0	88,127,000						0
cash and cash equivalents at end of the period	-14,627,000	104,584,000		-8,700,000	-18,161,000	125,803,000		1,084,000	2,113,000	102,506,000		-5,491,000	-22,394,000	110,647,000		-5,610,000	5,212,000	97,562,000		372,000	2,387,000	76,636,000		-20,459,000
adjustments to reconcile net income to net cash provided by operating activities:
payments of contingent consideration related to acquisitions
capital loss on sale of fixed assets
dividend paid to magic software shareholders
cash paid due to exercise of put option by non-controlling interests
emolyee benefit liabilities		1,202,000		14,000	17,000	1,094,000
net cash (used) provided by operating activities		14,899,000
put options of non-controlling interests								-603,000	-5,277,000	26,977,000
accrued severance pay								-21,000	143,000	902,000			-2,030,000	4,413,000		171,000	23,000	5,299,000							167,000	4,304,000				3,928,000		-75,000	177,000	3,650,000
magic software enterprises shareholders' equity
payments of deferred and contingent consideration related to acquisitions				-315,000			-6,532,000	0			-171,000	0					-1,942,000	-2,752,000
amortization of premium and accrued interest on debt instruments at fair value through other comprehensive income
loans to related party
proceeds from sale of property, plant and equipment
payments to former shareholders of consolidated company
change in marketable securities
capitalization of software development
exercise of employees’ stock options
dividend to magic’s shareholders							0	-16,059,000
repayment of long-term loans from banks and others
receipt of long-term loans from banks and others
changes in deferred taxes
capital loss on sale of property and equipment
purchase of intangible assets
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
redemption of marketable securities				617,000
investment in long-term deposits				-794,000	207,000	296,000
investment in marketable securities																																0
investment in short-term bank deposits				-15,000
investment in companies accounted for at equity
proceeds from repayment of loan receivables								294,000	218,000	323,000
proceeds from short-term bank deposits				12,000	-13,000	701,000		0
purchase of redeemable non-controlling interest						-314,000		0															-4,355,000	-1,028,000
short-term and long-term loans received				1,894,000				4,000	25,714,000	23,749,000		4,037,000			3,066,000	7,124,000	15,158,000	210,000	596,000	4,185,000	4,913,000	-8,000	0	0	870,000	8,000
liabilities related to business combinations
purchase of financial assets at fair value through profit or loss						-1,000,000
loan extended to related party
acquisition of a company accounted for at equity
purchase of intangible asset												0	-28,000	-191,000
dividend to magic's shareholders
capital gain from sale of property, plant and equipment
purchase of financial assets measured at fair value through other comprehensive income
total long-term assets								-10,482,000
long-term liabilities:
total long-term liabilities								730,000
amortization of marketable securities premium and accretion of discount								54,000				56,000	71,000	22,000	26,000	42,000	-26,000	54,000	-127,000	13,000	1,000	43,000	-30,000	83,000			24,000	40,000	122,000	3,000	64,000	20,000	68,000	66,000
cash paid in conjunction with acquisitions, net of acquired cash								0	-5,434,000	-10,151,000		-10,827,000	-1,326,000	-10,963,000	1,853,000	-1,854,000			0	-11,702,000	-4,105,000	-727,000	-1,714,000	-12,706,000	-1,645,000	-6,538,000	2,327,000	-61,000		-2,980,000	-1,071,000	-2,011,000	-681,000	-3,127,000
other long-term receivables									-5,000	6,414,000			-1,063,000	5,410,000		-179,000	309,000	2,982,000							-2,735,000	6,169,000				4,694,000		1,167,000	354,000	1,635,000
investment in long-term bank deposit
trade and unbilled receivables										149,335,000
property, plants, and equipment										8,139,000
shareholders equity:
total shareholders equity										269,069,000
changes in value of short-term and long-term loans from banks and others										76,000
net change in operating assets and liabilities:
investment in (proceeds from) bank deposits										-269,000
decrease in cash and cash equivalents										19,444,000
other long-term and short-term accounts receivable and prepaid expenses												1,213,000	564,000	-2,975,000	-512,000	353,000	741,000	-319,000	3,241,000	-132,000	147,000	143,000
exchange rate of loans												-706,000	-994,000	-216,000	92,000	189,000	354,000	-564,000	1,406,000	79,000	565,000	-688,000
effect of exchange rate on cash and cash equivalents held in currencies other than the functional currency												-334,000
investment in long-term bank deposits															-76,000
proceeds from (investment in) short-term bank deposits												-914,000	-2,403,000	4,968,000							-1,081,000	-30,000
proceeds from exercise of options by employees															0				27,000	0	168,000	61,000	0	81,000	0	-12,000	73,000	236,000		2,000	159,000	95,000	78,000	254,000
dividend paid												-14,237,000			0	-11,480,000			-1,000	-8,584,000	-3,863,000	-55,000	0	-7,628,000	0	-7,335,000	-2,000	-7,564,000		-5,956,000	1,000	-5,663,000
dividend paid to redeemable non-controlling interests												-1,632,000	-259,000	-1,641,000	-881,000	-2,176,000			-2,161,000	-1,090,000	0	-923,000	-806,000	-689,000	-873,000	-1,027,000	-597,000	-661,000		-706,000				-956,000
change in short-term deposits
stock-based compensation												70,000	70,000	70,000	154,000	156,000	155,000	491,000				-75,000	-1,000	0	0	75,000	-6,000	192,000	3,000	5,000	39,000	9,000	14,000	16,000
marketable securities													-71,000	1,120,000		-43,000	26,000	1,185,000							-1,592,000	9,140,000				14,043,000
severance pay fund													-1,982,000	3,502,000		176,000	-2,000	4,449,000							317,000	3,349,000				3,136,000		-27,000	142,000	2,722,000
operating lease right-of-use assets													1,214,000	22,890,000		-945,000	-796,000	24,059,000							-1,054,000	11,453,000
other long-term deposits													505,000	1,081,000		-11,000	0	1,796,000
identifiable intangible assets and goodwill													-14,004,000	220,815,000		-1,694,000	12,893,000	185,307,000												146,510,000
current maturities of operating lease liabilities													-170,000	3,633,000		-334,000	-304,000	3,869,000							-176,000	3,534,000
liabilities due to acquisition activities													-7,372,000	13,535,000		-160,000	112,000	4,925,000							1,277,000	861,000				1,098,000		761,000	-266,000	2,545,000
long-term operating lease liabilities													1,324,000	19,841,000		-28,000	-493,000	20,201,000							-881,000	7,852,000
long-term liabilities due to acquisition activities													-593,000	19,157,000		1,097,000	3,037,000	9,549,000							124,000	9,317,000				575,000
redeemable non-controlling interests													-761,000	29,128,000		-641,000	788,000	24,805,000							1,477,000	27,841,000				26,249,000		-242,000	1,229,000	27,994,000
magic software enterprises equity													-4,729,000	261,979,000		-3,691,000	9,318,000	254,239,000							5,784,000	243,616,000				208,918,000		-1,434,000	6,295,000	200,253,000
total liabilities, redeemable non-controlling interests and equity													-46,710,000	541,156,000		-4,446,000	20,498,000	455,010,000							11,300,000	387,665,000				340,411,000		-9,995,000	8,186,000	336,393,000
long-term receivables:
total long-term receivables														40,616,000		-2,697,000	-617,000	39,334,000							-1,228,000	22,894,000				10,815,000		1,002,000	492,000	8,254,000
non-current liabilities:
total non-current liabilities														100,344,000		680,000	16,388,000	63,835,000							731,000	51,432,000				42,496,000		-7,044,000	2,017,000	54,842,000
decrease in trade payables														-1,254,000																				-1,906,000
payments of deferred and contingent consideration related to acquistions														-2,078,000
short term and long-term loans received														25,016,000
increase in trade receivables																										-510,000	-8,039,000	536,000	-242,000	-3,622,000	-4,184,000
decrease in other long-term and short-term accounts receivable and prepaid expenses																								1,315,000
increase in deferred revenues																								51,000	623,000	3,691,000		-2,125,000	-427,000	4,193,000	-1,483,000	-1,541,000	-1,952,000	6,151,000
proceeds from maturity and sale of marketable securities																			0	1,120,000	1,150,000	3,159,000	906,000	0	1,700,000	750,000
issuance of ordinary shares																							113,000	0			0
net cash provided used in financing activities
cash and cash equivalents at the beginning of the year																			0	0	0	81,915,000				87,126,000	0	0		76,076,000	0	0	0	75,314,000
cash and cash equivalents at end of the year																										88,682,000
decrease in trade receivables																-2,981,000								-1,163,000									-4,244,000	-4,313,000
increase in trade payables																								-1,439,000	-3,062,000	-1,039,000	381,000	705,000	-596,000	1,713,000
increase trade payables
change in exchange rate of loans
increase in accrued expenses and other accounts payable																											4,028,000	-2,089,000	2,705,000	-2,842,000	3,352,000	-412,000	790,000	705,000
change in cash and cash equivalents
short-term credit																																	552,000	-55,000
revenues																						85,208,000
gross profit																						26,748,000
operating income																						10,971,000
net income attributable to magic's shareholders																						9,377,000
basic earnings per share																						190
diluted earnings per share																						190
decrease in accrued expenses and other accounts payable																								-3,367,000
(proceeds) investment in marketable securities and short-term bank deposits
gains reclassified into earnings from marketable securities																																522,000	0	-106,000
short term loan to a related-party
payments of contingent consideration
change in value of loans																								603,000	439,000	670,000		182,000	-1,081,000	-375,000
proceeds (investment) from bank deposits
investment in marketable securities and short-term bank deposits																											-16,115,000	-393,000		-117,000
proceeds from bank deposits																									-256,000	7,100,000
identifiable intangible assets and
goodwill																										151,941,000							631,000	149,142,000
adjustments to reconcile net income to net cash provided
by operating activities:
amortization of marketable securities premium
and accretion of discount																										71,000
decrease in other long-term and short-term
accounts receivable and prepaid expenses																										362,000
decrease in accrued expenses and
other accounts payable																										-1,856,000
loss reclassified into earnings from marketable securities
increase in other long-term and short-term accounts receivable and prepaid expenses																											743,000			-525,000
short-term loan to a related-party
loss (gains) reclassified into earnings from marketable securities
increase (decrease) in deferred revenues
change in loans to employees and other deposits
long-term loan received
repayment of long-term loans
proceeds from maturity of marketable securities																																1,000,000	0	2,225,000
change in short-term and long-term loan from banks																														12,000
cash and cash equivalents at the end of the period																														72,741,000		-10,120,000
increase in other long term and short term accounts receivable and prepaid expenses
f-7
long-term deferred tax liability																														11,031,000		-530,000	245,000	12,673,000
available-for-sale marketable securities																																-1,015,000	2,525,000	10,256,000
long-term deferred tax assets																																-138,000	-4,000	3,897,000
magic software enterprises ltd. and its subsidiaries
condensed consolidated statement of cash flows
u.s. dollars in thousands
adjustments to reconcile net income from operations to
net cash from operating activities:
change in value of loans and deposits																																-75,000	1,316,000	1,827,000
dividend paid to non-controlling interests in subsidiaries																																-361,000	-72,000	-103,000
dividend paid to redeemable non-controlling interests in subsidiaries																																-1,635,000
adjustments to reconcile net income to
long term loan received
adjustments to reconcile net income from operations to net cash from operating activities:
repayment of short-term loan granted to a related-party
investment in short-term bank deposit
increase in other long-term and short-term accounts																																	-1,076,000	-300,000
repayment of short-term loan to a related-party																																	0	1,183,000
receipt of long-term loan from banks
receipt of long-term loans from banks																																		5,479,000
cash and cash equivalents at the end of period																																		89,526,000
loss on sale of property and equipment
stock-based compensation expenses
change in deferred and other income taxes
change in loans to employees and other deposits ,net
interest expenses related to liabilities in connection with acquisitions
amortization of marketable securities premium, accretion of discount
gain on sale of subsidiary's operation
decrease in other long term and short term accounts receivable and prepaid expenses
change in deferred income taxes
proceeds from sale of subsidiary's operation
issuance (expense on issuance) of ordinary shares
change in loans to employees and other,net
decrease (increase) in trade receivables
decrease (increase) in other long term and short term accounts receivable and prepaid expenses
7
loss on sale and maturity of marketable securities
proceeds from sale of marketable securities
prepayment on investment
net income attributed to magic software enterprises shareholders
adjustments to reconcile net income from operations to net cash
provided by operating activities:
amortization of marketable securities premium, accretion of discount and other than temporary losses
non-controlling interest in earnings of subsidiaries
deferred income taxes
proceeds from returns of loans to employees and other deposits ,net
net income from continuing operations
adjustments to reconcile net income from continuing
operations to net cash from operating activities from
continuing operations:
equity in losses of affiliates
gain on sale of property and equipment
loss on sale of marketable securities
loss on sale of affiliate
decrease in other accounts receivable and prepaid expenses
decrease in deferred revenues
net cash from operating activities from continuing operations
net cash from operating activities from discontinued operations
acquisition of subsidiaries
proceeds from sale of affiliated company
proceeds from short-term and long-term deposits
loans to employees and other deposit ,net
net cash from investing activities from continuing operations
net cash from investing activities from discontinued operations
effect of exchange rate changes on cash and cash equivalents from continuing operations
increase in cash and cash equivalents from continuing operations
less: net income from discontinued operations
adjustments to reconcile net income from continuing operations to net cash from operating activities from continuing operations:
proceeds from exercise of stock options
proceeds from long-term loans
effect of exchange rate changes on cash and cash equivalentsfrom continuing operations
supplementary information on investing and financing activities not involving cash flows:
(a) non-cash activities related to continuing operations:
payable on account of dividend
receivables from sale of property
(b) non-cash activities related to discontinued operations:
receivables from sale of subsidiary
supplemental disclosure of cash flow activities:
cash paid during the year for:
income taxes
interest
less: net income from discontinued operation
net income from continuing operation
minority interest in earnings of subsidiaries
amortization of premiums and accrued interest on marketable securities
gain on sale of subsidiary’s operation
impairment of intangible asset
net cash from operating activities from continuing operation
net cash provided (used) by operating activities from discontinued operation
proceeds from sale of subsidiary’s operation
purchase of marketable securities
net cash from investing activities from continuing operation
net cash provided (used) by investing activities from discontinued operation
proceeds from exercise of stock options and warrants
purchase of treasury shares
repayment of long-term loan
net cash from financing activities from continuing operation
net cash from financing activities from discontinued operation
effect of exchange rate changes on cash and cash equivalents from continuing operation
increase in cash and cash equivalents from continuing operation
cash and cash equivalents from continuing operation at the beginning of the year
cash and cash equivalents from continuing operation at end of the year
non-cash activities related to discontinued operation:
receivables from a sale of subsidiary
net cash paid during the year for:
loss from realization of investments in formerly consolidated subsidiaries
decrease in related parties receivables
decrease in inventory
decrease in restructuring accrual
additional investment in subsidiaries
purchase of a business activity
proceeds from realization of investments in formerly consolidated subsidiaries
dividend to minority in subsidiary
cash and cash equivalents at beginning of the year
minority interest in earnings of consolidated subsidiaries
erosion of long-term loans
capital gain on sale of marketable securities
decrease in other accounts receivable, prepaid expenses and long-term deposits
decrease in inventories
investment in affiliates and other companies
short-term bank credit
dividend
dividend paid to minority in subsidiaries
a.
b.
purchase of ipr by settlement of loan
warrants issued as consideration for the purchase of a business activity
impairment and restructuring costs
write-off of investment in subsidiary
capital gain pursuant to a decrease in holding percentage
increase in restructuring accrual
capitalized software costs
purchase of activity
investment in other assets
payment for acquisition of initially consolidated subsidiaries
investment in subsidiaries recorded against accounts payable
purchase of ipr against settlement of loan
warrants issued as consideration for purchase of activity
minority interest in losses of consolidated subsidiaries
increase in related parties receivables
proceeds from realization of investments in formerly consolidated subsidiary
proceeds from issuance of shares

Magic Software Enterprises Ltd(NASDAQ:MGIC)

Magic Software Enterprises Ltd
(NASDAQ:MGIC)