FORTY Overview

Company Performance: Formula Systems (1985) Ltd. has been one of the top midcap tech stocks over the past three years, reporting record revenues of $743.4 million in Q2 2025, driven by strong demand in software services and enterprise automation.

Strategic Acquisition: The company announced the acquisition of its subsidiary Sapiens International Corporation by Advent International, highlighting the trend of private equity investing in mature, cash-flowing AI-enabled software assets as part of Formula's strategy to streamline its portfolio.

New CEO Appointment: Jeffs’ Brands Ltd has appointed Eliyahu Zamir as the new Chief Executive Officer, effective August 1, 2025, replacing Viki Hakmon, who will step down on July 31, 2025. Hakmon's resignation was not due to any disagreements and he will continue as a consultant for the company's subsidiary.

Zamir's Background: Eliyahu Zamir brings over 20 years of experience in corporate finance and strategic growth, having held executive roles in various sectors and successfully led significant financing initiatives. His appointment is seen as a key move for the company’s long-term expansion and shareholder value creation.

Dividend Announcement: Formula Systems (NASDAQ: FORTY) has declared a semi-annual dividend of $0.44 per share, payable on July 22 to shareholders of record as of July 7, with an ex-dividend date also on July 7.

Additional Information: The announcement includes references to the company's dividend scorecard, yield chart, and dividend growth details for further financial insights.

Financial Performance: Formula Systems reported a record first quarter for 2025, with revenues increasing by 8.1% to $754.7 million and net income rising by 12.6% to $19.3 million compared to the previous year.

Dividend Declaration: The company's board approved a cash dividend of NIS 1.57 per share, totaling approximately NIS 24.1 million, payable on July 22, 2025, subject to withholding tax according to Israeli law.

Annual Report Filing: Formula Systems filed its 2024 annual report on Form 20-F with the SEC on May 14, 2025, which includes audited financial statements and is accessible to shareholders online or via request for a hard copy.

Company Overview: Formula Systems is a global IT holding company that specializes in software consulting services and proprietary software development, with shares traded on both the Tel-Aviv Stock Exchange and Nasdaq.