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Sapiens Reports Third Quarter 2021 Financial Results November 3 , 2021 - November 3 , 2021 – Sapiens International Corporation , ( NASDAQ and TASE : SPNS ) , a leading global provider of software solutions for the insurance industry , today announced its financial results for the third quarter ended September 30 , 2021 . Summary Results for Third Quarter 2021 ( USD in millions , except per share data ) GAAP Non - GAAP September 30 , 2021 September 30 , 2020 % Change September 30 , 2021 September 30 , 2020 % Change Revenue $ 117.8 $ 97.6 20.7 % $ 118.4 $ 98.0 20.9 % Gross Profit $ 48.3 $ 40.1 20.5 % $ 53.4 $ 44.2 20.8 % Gross Margin 41.0 % 41.0 % 45.1 % 45.1 % Operating Income $ 16.2 $ 12.1 34.1 % $ 21.0 $ 17.9 17.7 % Operating Margin 13.8 % 12.4 % 140 bps 17.7 % 18.2 % ( 50 ) bps Net Income ( * ) $ 13.3 $ 9.3 42.1 % $ 17.0 $ 13.7 23.5 % ( * ) Attributable to Sapiens ' shareholders