MGIC - Magic Software reports Q3 earnings beat; raises FY22 guidance

• Magic Software press release ( NASDAQ: MGIC ): Q3 Non-GAAP EPS of $0.28 beats by $0.02 .
• Revenue of $143.96M (+19.1% Y/Y) beats by $12.26M .
• As of September 30, 2022, Magic Software’s net cash, cash equivalents, short and long-term bank deposits and marketable securities amounted to $88.8 million and total financial debt of $59.1 million.
• Magic Software has increased its 2022 annual revenue guidance for the third time this year to a range of $555 to $565 million vs. consensus of $550.40M, up from its prior range of $550 to $560 million, which now reflects an annual growth of 15.6% to 17.6%.

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