 HOLON, Israel, May 4, 2021 PRNewswire -- Sapiens International Corporation , NASDAQ: SPNS TASE: SPNS, a leading global provider of software solutions for the insurance industry, today announced its financial results for the first quarter ended March 31, 2021. Summary Results for First Quarter 2021 USD in millions, except per share data GAAP Non-GAAP Q1 2021 Q1 20 20 Change Q1 2021 Q1 20 20 Change Revenue 109.6 90.5 21.1 110.2 90.5 21.7 Gross Profit 44.3 36.3 22.0 49.2 39.8 23.7 Gross Margin 40.4 40.1 30 bps 44.7 44.0 70 bps Operating Income 12.4 10.3 20.3 19.0 14.6 30.0 Operating Margin 11.3 11.4 10 bps 17.2 16.1 110 bps Net Income 9.8 6.8 44.2 14.9 10.4 43.2 Diluted EPS 0.18 0.13 38.5 0.27 0.20 35.0 Attributable to Sapiens shareholders. 