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Magic Software Enterprises (MGIC) investor relations material
Magic Software Enterprises Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record Q2 2025 revenue of $151.6M, up 11.3% year-over-year, with strong demand in cloud, AI, DevOps, and defense sectors; H1 2025 revenue reached $299.0M, up 12.0% year-over-year.
Israel operations grew 18.8% year-over-year, with over 90% organic growth; North America revenue increased 6.5% year-over-year and 6% sequentially.
Over 270 AI projects managed across 20+ industries, with a 70% success rate, supported by 10+ strategic alliances with global tech leaders.
Announced a memorandum of understanding for a potential merger with Matrix, progressing toward a Q4 2025 shareholder vote.
Financial highlights
Non-GAAP gross margin was 28.7% ($43.6M), up 20 bps sequentially; GAAP gross margin was 27.9%, down 60 bps year-over-year.
Non-GAAP operating income rose 1.9% to $18.6M in Q2; H1 non-GAAP operating income was $37.1M, up 1.9%.
Non-GAAP net income attributable to shareholders increased 8.7% to $12.7M ($0.26 per diluted share) in Q2; H1 non-GAAP EPS was $0.51, up 8.5%.
Cash and equivalents were $90M as of 6/30/2025, down from $112.8M at year-end; total financial debt was $70M, up from $60M.
Cash flow from operations for H1 2025 was $21.2M, down from $41.4M in H1 2024, reflecting increased working capital investment.
Outlook and guidance
Full-year 2025 revenue guidance raised to $600M–$610M, representing 8.6%–10.4% anticipated annual growth.
Margins expected to improve in the second half as software renewals increase, targeting annual gross margin around 29%.
Management expects healthy demand and a strong pipeline to sustain growth through the year.
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