Thank fourth you, results. XXXX you, operator, us for quarter financial report we and today as joining thank our everyone,
provide highlights outlook.
Revenue XXXX today, of the will During from fourth results of XX.X% $XXX.X the million, our to in quarter decreased XXXX. overview review I quarter fourth and the call fourth of an our from quarter down approximately
of would the of quarter. the XX, XXXX ended than for to December $X approximately currency more quarter revenue of On is million, to basis, XXXX, corresponding higher year months mentioned the for already our on the XXXX constant significant revenues by fourth for million last figure average the decreased effect we in revenues the As based fluctuations of on compared fourth year. to the over during reported the XX.X% the quarter currency compared $XXX.X calls, still calculated course currency year, the exchange our past and was rates of quarter a have the X the
XX, significant of notification the third and we devaluation year. was and shekel by the forward currency X.X% for the in U.S. our half which due year described Israeli has the One, As third reaching demand time and our And for in and fourth for decline to caused the immediately internal the customers, our November reasons in without the fourth the revenues X quarter during conference quarter dollar second decided XXXX, and primarily important any material-based factors: by Israeli unrelated services fourth headwind to X.X% in caused call which the to third the $X.X the reduction going on of results part their advanced $XX.X for several by shekel-denominated relative substantial quarter, blue-chip of hurt to significant million quarter unexpected quarter our and million our suspend in software active projects. of for a U.S.-based services from second, professional the operation
weigh challenging Behind not ability against overcome adverse us. climate, to primary did results the that our help lies the ongoing factors also the macroeconomic which
out of the against to XXX drafting to We to the post military hostages. also other in organization war The civilians of the active significant We event. the noted service conducted and hold a led wish the organization has that things, at continued [indiscernible] Israeli outbreak quarter approximately third currently and and sending terrorist on our murder who of terrorist success entire Forces, our which, among Hamas, Israeli XXX with eliminating Israeli Armed continues employees X,XXX X,XXX keep employees. are fighting brutal Israel Israeli planned of
and services the decline compared to for employees second revenues beginning spending, us October significantly of from our together inflation persistent have the continued period same the for reduced our lower war with several capital Israeli of who the software of rates, to macroeconomic the absence U.S.-based year. were X, blue-chip of caused military the customers on demand since our active interest drafted and report The services important for half for and last high the environment challenging fourth quarter in
revenues that, I target. said that quarter our fourth would to highlight Having like end fourth revenue reached guidance of the higher quarter have our
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XX strong to during invest our business year. improve our to quarter margin the XXXX In maintain corresponding higher operations growth fourth or of enable maintain half keep revenue and higher basis the the shows even the the revenue, operating held drive and our to This our of rise strong non-GAAP future. the to in basis XX.X% scalability revenues ability compared XXXX, our margin sensibility will at our last and We us period that the fall. whether our of and XXX balance believe to enhanced our points approximately to the will points our compared first profitability of operating sheet model and margin ability of
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which in address XX% Proceeding to third quarter approximately million lower million, of North and U.S. with is in customers several of of XXX fourth the compared the quarter our compared XXXX, fourth In decrease or quarter America to put in million specialists to on some U.S. XXXX, by our made resulting quarter, hold and of additional lower the a which due investment fourth to expenses the to half second to clients to third $XX.X close year. decided IT XX% CapEx of financials. during of $XX.X decision mainly $X.X compared the to quarter of XXXX respective revenues amounted our the among or last the largest our reduce quarter
dollar reported market the material new fourth $XX.X the in have continued increase factor revenues by average XXXX. of Israeli XX.X% the Israeli currency of from December was On million calculated the of quarter Revenue growth currency a months of XXXX, million fourth X.X% rate dollar [indiscernible] year-over-year in on a increased U.S. million, compared to shekel $X.X operation the in X in quarter The up our revenue. XX, $XX.X ended basis, Israeli Israeli versus our terms. based the of constant of operation to our the a the devaluation reported overall, would reflecting $XX.X exchange million impact amounted for XXXX additional for reducing by to
on experienced This compensate for business, slowdown demonstrates sector XX% and for which such our our in our allowed to XX% high public for XX%, technology-driven XX%, accounts of X%, which mature, America. reconfirms and as current care, and partially sectors the strong performance to North long-term health of stable accounts in strategic which decision the defense we focus finance region tech, us the
increase Turning fourth which problems basis and $XX.X able we to our corresponding to of half currency during quarter or compared U.S.-based of the margin revenue for quarter were of million XX.X% our with in XXXX million. of now the revenues the XXXX, XX.X% the profitability. by to was Despite gross it XXXX, XXX to in second points headwind $XX.X significant nevertheless the
revenue of related margin a software XX% In approximately this to our year gross and XX% XXXX, same XX% our The of the gross to our a as approximately Solutions our year. positional with mix XX% of services to approximately year same XX%, a margin of was Professional XX%. breakdown of gross with solutions approximately XXXX to of margin XX%, of this again, related a gross XX% was with with margin approximately Services segment, and Software for revenues approximately our related as attributable our
to mix Professional and same gross in was breakdown XX% year compared our XX% period and to XX% for Solutions the related XX% Software our last Services to the The our of approximately profit year. related
in interest we income to quarter same million to a fell a increasing for the the was to the an $XX.X basis interest Our last period debt million period during debt $XX $XX year. related our to our our on for an our interest fourth higher XXXX. It of period quarter.
Financial margin on compared debt of XX.X% the the corresponding been in last operating basis $XX.X in year. of XXXX the compared compared the income reflects operating variable level while quarter, financial in of to period in had fourth XXXX, XX.X% rates expenses, absolute This of average period of The non-GAAP to million $X.X and on increase in percentage the which operating X to related million year quarter subject based compared rates, quarter would mainly December calculated decreased basis, million. majority XX, as currency expenses X.X% XXXX, of last XXXX. million debt quarter the XXXX non-GAAP month $X.X overall to recorded the in have currency constant total by to in expenses same financial the the expenses rate financial compared a has $XX.X financial for interest resulted rate of for exchange On for fourth from XXXX of increase debt million bears same ended interest the our
of a $X.X $X.X Net attributable those net noncontrolling entities, to million period shareholders. year. noncontrolling their entities interest often minority our shareholders to keeping compared in attributable to interest, such are million to relied acquired for role as combination minority in has increased income managerial income addition portion same Net model to last in allocating on stakeholders business Other income former the to we
increased of to per expenses or XX% $X.XX bank million in fully of diluted interest for the $XX.X same increased Our million operating last reduction from fourth share by per was which diluted $XX.X income share year, increase period to resulting our non-GAAP debt and financial in or quarter fully income, net product compared in the an level rate. a the $X.XX decreased
XXXX. X.X% XXXX to now XX million approximately year to the full from $XXX.X million, XX, that for XXXX. the results months in $XXX.X decreased Turning December ended down revenues
year. months XXXX revenue corresponding revenues year based As to the of December year, to X.X% the on mentioned, XX, we rate the have XXXX, the XX million was the a million for XXXX, revenues $XXX.X higher the the by course in over of already exchange to ended basis, approximately currency figure during calculated $XX.X would On compared effect compared significant decreased the currency fluctuation our than for reported currency average the our for year. constant
Turning million. revenues during and margin the headwinds, significant able problems revenue were in we basis the of it XX.X% XXX to compared XXXX, the second our our million points the by year half XXXX, gross now currency $XXX.X Despite to or profitability. of U.S.-based which increase with was $XXX.X to to nevertheless XX.X% in for
year. for XX.X% reflects income of the fell compared to an compared compared period $XX.X This $XX.X the year corresponding in percentage basis XXXX. for on last operating while XXXX. absolute million to -- to operating the same the increasing year non-GAAP quarter margin on was Our an in for million XX.X% It period of the basis a
currency XX-month operating basis, on for year currency average the XX, year. December as have last million, period calculated for constant would to the exchange a $XX.X same income XXXX, ended based rates On non-GAAP reached
Our per and bank million $X.XX financial income fully increased to $X.XX which diluted or diluted for operating fully compared in to or part a the expenses $XX.X increased year the XXXX, decreased resulting per share of income non-GAAP was an in debt by interest. from increased million and net reduction level of our X.X% $XX.X share
now sheet. the balance Turning to
XXXX. to bank cash same of approximately equivalents As XX, of our deposits cash as XX, September XXXX, and December million, $XXX and amounted short-term
debt end XX, XXXX, the financial to December as amounted million the compared $XX previous of as of to million total of quarter. $XX Our
in of activities XXXX. same of flow the cash from million fourth the during XXXX operating Our was million $XX.X to quarter period compared $XX.X
and from Our from excluding $XX.X acquisitions flow $XX year flow deferred the related to to recorded contingent cash payments million operating operating of compared consideration cash activities million, increased for under XX% activities. to
for would I closing, XXXX. to our turn In to like revenue annual guidance
while outbreak call, stated we organization other third military third led which, our slowdown our the quarter, a earnings active on Israeli against experienced business be to war return approximately of XXX the historical significant in expect North to once short-term our not in of Israeli employees. in us, X,XXX that major the we we war service Hamas, terrorist that rates quarter has activity drafting Israel are We would midterm. XXXX, of in conditions things, optimistic nevertheless into the acknowledge As as growth also the behind are normalized of ideal, to the to of part among America our side-by-side
As $XXX the against such, to for when we guidance reflects on revenues be growth in our million annualized rate. exchange anticipate quarter annual XXXX basis on range XXXX XXXX, X.X% going-forward between fourth based X.X%. $XXX million currency revenue This a of to and an measured current
highs, our value. on ensuring globe, thereby track but record high only executing focused enhancement team and a shareholders' growth, Across our generation. well-established our has and the previous restore of vision is [indiscernible] continual resolutely not growth to Magic of profitability the cash strategic dedicated sustained
our like continue results look support to clients continued and we to deliver forward and shareholders for thank to I and their your on would trust behalf.
call will the I the for operator that, to questions. With turn over
