Sapiens International (SPNS) 20-F 31 Mar 22 2021 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2021shares
Document Information Line Items
Entity Registrant Name	SAPIENS INTERNATIONAL CORPORATION N.V.
Trading Symbol	SPNS
Document Type	20-F
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	55,065,009
Amendment Flag	false
Entity Central Index Key	0000885740
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	000-20181
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Azrieli Center
Entity Address, Address Line Two	26 Harokmim St.
Entity Address, City or Town	Holon
Entity Address, Postal Zip Code	5885800
Entity Address, Country	IL
Contact Personnel Fax Number	+972-3-790 2942
Title of 12(b) Security	Common Shares, par value €0.01 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
Auditor Firm ID	1281
Auditor Name	KOST FORER GABBAY & KASIERER
Auditor Location	Tel-Aviv, Israel
Business Contact
Document Information Line Items
Entity Address, Address Line One	Azrieli Center
Entity Address, Address Line Two	26 Harokmim St.
Entity Address, City or Town	Holon
Entity Address, Postal Zip Code	5885800
Entity Address, Country	IL
Contact Personnel Name	Roni Giladi
Contact Personnel Fax Number	+972-3-790-2000
City Area Code	972
Local Phone Number	3-790-2000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 190,243	$ 152,561
Short-term bank deposit	20,000	30,000
Trade receivables (net of allowance for credit losses of $1,558 and $1,337 on December 31, 2020 and 2021, respectively)	53,985	48,623
Unbilled receivables and contract assets	22,276	16,786
Other receivables and prepaid expenses	13,841	19,388
Total current assets	300,345	267,358
LONG-TERM ASSETS:
Capitalized software development costs, net	25,203	24,362
Other intangible assets, net	56,939	74,953
Property and equipment, net	14,458	16,970
Goodwill	261,141	264,282
Severance pay fund	5,954	6,582
Operating lease right-of-use assets	43,665	54,390
Other long-term assets	7,288	5,264
Total long-term assets	414,648	446,803
Total assets	714,993	714,161
CURRENT LIABILITIES:
Trade payables	5,008	5,389
Employees and payroll accruals	43,402	40,494
Accrued expenses and other liabilities	33,048	34,625
Current maturities of Series B Debentures	19,796	19,796
Current maturities of operating lease liabilities	10,827	9,924
Deferred revenues	39,614	34,548
Total current liabilities	151,695	144,776
LONG-TERM LIABILITIES:
Series B Debentures, net of current maturities	78,986	98,676
Deferred tax liabilities	15,360	16,010
Other long-term liabilities	12,144	12,129
Long-term operating lease liabilities	38,751	48,773
Accrued severance pay	9,236	9,586
Redeemable non-controlling interest	101	517
Total long-term liabilities	154,578	185,691
COMMITMENTS AND CONTINGENTIES
Share capital:
Common shares of € 0.01 par value: Authorized: 70,000,000 shares on December 31, 2020 and 2021; Issued: 56,989,995 and 57,393,305 shares on December 31, 2020 and 2021, respectively; Outstanding: 54,661,699 and 55,065,009 shares on December 31, 2020 and 2021, respectively	756	751
Additional paid-in capital	340,837	334,693
Treasury shares, at cost - 2,328,296 Common shares on December 31, 2020 and 2021	(9,423)	(9,423)
Accumulated other comprehensive income	2,819	11,026
Retained earnings	71,559	44,643
Total Sapiens International Corporation N.V. shareholders’ equity	406,548	381,690
Non-controlling interests	2,172	2,004
Total equity	408,720	383,694
Total liabilities and equity	$ 714,993	$ 714,161

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) $ in Thousands	Dec. 31, 2021USD ($)shares	Dec. 31, 2021€ / shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2020€ / shares
Statement of Financial Position [Abstract]
Trade receivables, net of allowance for doubtful accounts (in Dollars) | $	$ 1,337		$ 1,558
Common shares, par value (in Euro per share) | € / shares		€ 0.01		€ 0.01
Common shares, authorized	70,000,000		70,000,000
Common shares, issued	57,393,305		56,989,995
Common shares, outstanding	55,065,009		54,661,699
Treasury shares, shares	2,328,296		2,328,296

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenues	$ 461,035	$ 382,903	$ 325,674
Cost of revenues	273,191	226,929	196,153
Gross profit	187,844	155,974	129,521
Operating expenses:
Research and development	54,013	41,358	37,378
Selling, marketing, general and administrative	76,343	69,613	54,274
Total operating expenses	130,356	110,971	91,652
Operating income	57,488	45,003	37,869
Financial expense, net	202	3,805	2,768
Income before taxes on income	57,286	41,198	35,101
Taxes on income	9,964	7,041	8,610
Net income	47,322	34,157	26,491
Attributed to non-controlling interests	151	382	244
Net income attributable to Sapiens’ shareholders	$ 47,171	$ 33,775	$ 26,247
Net earnings per share attributable to Sapiens’ shareholders
Basic (in Dollars per share)	$ 0.86	$ 0.67	$ 0.53
Diluted (in Dollars per share)	$ 0.85	$ 0.65	$ 0.52

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 47,322	$ 34,157	$ 26,491
Other comprehensive income (loss):
Foreign currency translation adjustments	(8,159)	13,456	5,496
Total comprehensive income	39,163	47,613	31,987
Comprehensive income attributed to non-controlling interests	199	431	301
Comprehensive income attributable to Sapiens’ shareholders	$ 38,964	$ 47,182	$ 31,686

Consolidated Statements of Shar

Consolidated Statements of Shareholders’ Equity - USD ($) $ in Thousands	Common share	Additional paid-in capital	Treasury shares	Accumulated other comprehensive Income (loss)	Retained earnings	Non-controlling interests	Total
Balance at Dec. 31, 2018	$ 695	$ 214,918	$ (9,423)	$ (7,820)	$ 2,674	$ 1,440	$ 202,484
Balance (in Shares) at Dec. 31, 2018	49,982,004
Stock-based compensation		1,318				87	1,405
Employee stock options exercised (cash and cashless)	$ 2	778					780
Employee stock options exercised (cash and cashless) (in Shares)	177,872
Distribution of dividend					(11,009)	(149)	(11,158)
Other comprehensive income (loss)				(8,207)		48	(8,159)
Net income					26,247	244	26,491
Balance at Dec. 31, 2019	$ 697	217,014	(9,423)	(2,381)	17,912	1,679	225,498
Balance (in Shares) at Dec. 31, 2019	50,159,876
Stock-based compensation		3,975				12	3,987
Employee stock options exercised (cash and cashless)	$ 11	5,039					5,050
Employee stock options exercised (cash and cashless) (in Shares)	603,519
Distribution of dividend					(7,044)		(7,044)
Other comprehensive income (loss)				13,407		49	13,456
Acquisition of minority interest		(29)				(118)	(147)
Proceeds from issuance of ordinary shares, net of issuance expenses	$ 43	108,694					108,737
Proceeds from issuance of ordinary shares, net of issuance expenses (in Shares)	3,898,304
Net income					33,775	382	34,157
Balance at Dec. 31, 2020	$ 751	334,693	(9,423)	11,026	44,643	2,004	383,694
Balance (in Shares) at Dec. 31, 2020	54,661,699
Stock-based compensation		4,706				5	4,711
Employee stock options exercised (cash and cashless)	$ 5	2,033					2,038
Employee stock options exercised (cash and cashless) (in Shares)	403,310
Distribution of dividend					(20,255)	(31)	(20,286)
Other comprehensive income (loss)				5,439		57	5,496
Transaction with minority shareholders		(595)				(5)	(600)
Net income					47,171	151	47,322
Balance at Dec. 31, 2021	$ 756	$ 340,837	$ (9,423)	$ 2,819	$ 71,559	$ 2,172	$ 408,720
Balance (in Shares) at Dec. 31, 2021	55,065,009

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 47,322	$ 34,157	$ 26,491
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	28,669	23,383	19,138
Stock-based compensation	4,711	3,987	1,405
Accretion of discount on Series B Debentures	106	134	171
Impairment of right of use asset	1,439	351
Capital loss (gain) from sale of property and equipment	(60)	44	(40)
Net changes in operating assets and liabilities
Trade receivables, net, unbilled receivables and contract assets	(13,937)	(5,168)	10,514
Other operating assets	17,743	(2,049)	6,726
Deferred tax liabilities, net	(1,902)	(16)	(6,441)
Trade payables	(529)	(1,344)	(1,476)
Other operating liabilities	(8,325)	1,435	6,667
Deferred revenues	4,930	2,992	2,747
Accrued severance pay, net	375	349	255
Net cash provided by operating activities	80,542	58,255	66,157
Cash flows from investing activities:
Purchase of property and equipment	(3,786)	(2,633)	(11,474)
Proceeds from sale of property and equipment	1,111	12	834
Capitalized software development costs	(7,911)	(5,798)	(5,665)
Net cash received from (paid for) acquisitions (b)	831	(109,052)	(1,554)
Proceeds from (investment in) short-term bank deposits, net	10,031	(30,397)	(1,119)
Proceeds from (investment in) restricted deposit on account of future acquisition		22,890	(22,890)
Acquisition of other intangible asset	(151)	(2,810)
Net cash provided by (used in) investing activities	125	(127,788)	(41,868)
Cash flows from financing activities:
Proceeds from employee stock options exercised	2,038	5,050	780
Receipt of short-term loan		20,000
Repayment of loans		(20,000)	(4)
Proceeds from issuance of Series B Debentures, net of issuance expenses		60,346
Repayment of Series B Debentures	(19,796)	(9,898)	(9,898)
Distribution of dividend	(20,255)	(7,044)	(11,009)
Payments of contingent consideration	(926)	(538)	(374)
Acquisition of non-controlling interests	(990)	(147)
Dividend to non-controlling interest	(31)		(149)
Proceeds from issuance of ordinary shares, net of issuance expenses		108,737
Net cash provided by (used in) financing activities	(39,960)	156,506	(20,654)
Effect of exchange rate changes on cash	(3,025)	(707)	(1,968)
Increase in cash, and cash equivalents	37,682	86,266	1,667
Cash, cash equivalents at beginning of year	152,561	66,295	64,628
Cash and cash equivalents at end of year	190,243	152,561	66,295
Supplemental cash flow activities:
Interest, net	3,218	5,439	2,481
Income taxes, net	6,654	16,330	6,397
Working capital, net (excluding cash and cash equivalents)	238	10,839	317
Other long-term assets		(9,577)	(412)
Other long-term liabilities		24,572	200
Redeemable non-controlling interests		450
Goodwill and other intangible assets	593	(135,336)	(1,659)
Net cash paid for acquisitions, total	831	(109,052)	(1,554)
Net lease liabilities arising from obtaining right-of-use assets	5,526	1,861	19,125
Property and equipment purchase incurred but unpaid at period end	$ 262	$ 490	$ 315

General

General	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
GENERAL	NOTE 1:- GENERAL a. General: Sapiens International Corporation N.V. (“Sapiens”) and its subsidiaries (collectively, the “Company”), a member of the Formula Systems (1985) Ltd. (“Formula”) Group, is a global provider of software solutions for the insurance industry. The ultimate parent of the Company is Asseco Poland S.A. (“Asseco”), a Polish public company, traded on the Warsaw Stock Exchange. The Company’s expertise is reflected in its innovative software, solutions and professional services for property & casualty (P&C); reinsurance; life, pension & annuity (L&P); workers’ compensation (WC); medical professional liability (MPL); financial & compliance (F&C); and decision modelling for both insurance and financial markets. The Company offers end to end solutions for insurers core, data & analytics and digital operations, as well as stand-alone solutions which help them optimize and maximize their current investment. The Company mainly operates in North America, Europe and Asia Pacific.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in United States (“U.S. GAAP”). a. Use of estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Such management estimates and assumptions are related, but not limited to contingent liabilities, income tax uncertainties, deferred taxes assets, share-based compensation, value of intangible assets and goodwill, as well as the determination of revenue recognition from contracts accounted for based on the estimate of percentage of completion. The Company’s management believes that the estimates, judgment and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. b. Financial statements in United States dollars: The currency of the primary economic environment in which the operations of Sapiens and certain subsidiaries are conducted is the U.S. dollar (“dollar”); thus, the dollar is the functional currency of Sapiens and certain subsidiaries. Sapiens and certain subsidiaries’ transactions and balances denominated in dollars are presented at their original amounts. Non-dollar transactions and balances have been remeasured to dollars in accordance with ASC 830, “Foreign Currency Matters”. All transaction gains and losses from remeasurement of monetary balance sheet items denominated in non-dollar currencies are reflected in the statements of income as financial income or expenses, as appropriate. For those subsidiaries, whose functional currency has been determined to be their local currency, assets and liabilities are translated at year-end exchange rates and statement of income items are translated at average exchange rates prevailing during the year. Such translation adjustments are recorded as a separate component of accumulated other comprehensive income (loss) in equity. c. Principles of consolidation: The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation. Non-controlling interests of subsidiaries represent the non-controlling shareholders’ share of the total comprehensive income (loss) of the subsidiaries and fair value of the net assets upon the acquisition of the subsidiaries. The non-controlling interests are presented in equity separately from the equity attributable to the equity holders of the Company. d. Cash equivalents: Cash equivalents are short-term highly liquid investments that are readily convertible to cash, with original maturities of three months or less at the date acquired. e. Short-term bank deposits: Short-term bank deposits with original maturities of more than three months and less than one year at the date acquired are included in short-term bank deposits. f. Trade receivables: Trade receivables are stated net of credit losses allowance. The Company maintains the allowance for estimated losses resulting from the inability of the Company’s customers to make required payments. The allowance represents the current estimate of lifetime expected credit losses over the remaining duration of existing accounts receivable considering current market conditions and supportable forecasts when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses, and future expectations. Write-off activity and recoveries for the periods presented were not material. Estimated credit loss allowance is recorded as general and administrative expenses on the Company’s consolidated statements of income. The following table presents trade receivables net of an allowance as of December 31, 2020 and 2021: December 31, 2020 2021 Trade receivables $ 50,181 $ 55,322 Allowance for credit losses (1,558 ) (1,337 ) $ 48,623 $ 53,985 g. Property and equipment, net: Property and equipment are stated at cost, net of accumulated depreciation using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers and peripheral equipment 20 - 33 Office furniture and equipment 6 - 33 Buildings 2.5 Leasehold improvements are amortized using the straight-line method over the term of the lease (including option terms that are deemed to be reasonably assured) or the estimated useful life of the improvements, whichever is shorter. h. Leases: The Company determines if an arrangement is a lease at inception. The Company’s assessment is based on: (1) whether the contract involves the use of an identified asset, (2) whether the Company obtains the right to substantially all of the economic benefits from the use of the asset throughout the period of use, and (3) whether the Company has the right to direct the use of the asset. Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset, the present value of the lease payments equals or exceeds substantially all of the fair value of the asset, or the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of lease term. A lease is classified as an operating lease if it does not meet any one of these criteria. Since all of the Company’s lease contracts do not meet any one of the criteria above, the Company concluded that all of its lease contracts should be classified as operation leases. For lease with terms greater than 12 months, ROU assets and liabilities are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate (“IBR”) based on the information available on the commencement date in determining the present value of lease payments. The Company’s IBR is estimated to approximate the interest rate for collateralized borrowing with similar terms and payments and in economic environments where the leased asset is located. Certain leases include options to extend or terminate the lease. The ROU asset also includes any lease payments made prior to commencement and is recorded net of any lease incentives received. Moreover, the ROU asset may also include initial direct costs, which are incremental costs of a lease that would not have been incurred if the lease had not been obtained. i. Research and development costs: Research and development costs incurred in the process of software production before establishment of technological feasibility are charged to expenses as incurred. Certain internal and external costs incurred to develop software to be sold are capitalized after technological feasibility is established in accordance with ASC 985-20, “Software - Costs of Software to be Sold Leased or Marketed”. Based on the Company’s product development process, technological feasibility is established upon completion of a detailed program design. Costs incurred by the Company between completion of the detailed program design and the point at which the product is ready for general release, have been capitalized. Capitalized software development costs are amortized by the straight-line method over the estimated useful life of the software products (primarily seven years). j. Business combinations: The Company accounts for its business acquisitions in accordance with Accounting Standards Codification ASC No. 805, “Business Combinations”. The Company uses its best estimates and assumptions as part of the purchase price allocation process to value assets acquired and liabilities assumed at the business combination date. The total purchase price allocated to the tangible assets, liabilities assumed and intangible assets acquired is assigned based on their fair values as of the date of the acquisition. The excess of the fair value of the purchase price over the fair value of these identifiable assets and liabilities is recorded as goodwill. Goodwill generated from the business combinations is primarily attributable to synergies between the Company and acquired companies’ respective products and services. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred. The Company accounts for a transaction that does not meet the definition of a business as an asset acquisition Under ASU No. 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business (“2017-01”), while first determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the single asset or group of assets, as applicable, is not a business. k. Other intangible assets, net: Technology and patents acquired are amortized over their estimated useful life on a straight-line basis. The acquired customer relationships are amortized over their estimated useful lives in proportion to the economic benefits realized method. The average annual rates for other intangible assets are as follows: % Technology 13 - 50 Customer relationships 7 - 15 Patent 10 l. Goodwill: Goodwill represents the excess of the purchase price in a business combination over the fair value of the identifiable tangible and intangible assets acquired. Under ASC 350, “Intangibles- Goodwill and Other” (“ASC 350”), goodwill is subject to an annual impairment test at least annually or more frequently if impairment indicators are present. Goodwill impairment is required if the net book value of a reporting unit exceeds its estimated fair value. The Company operates in four reporting units: L&P (Life & Pension), P&C (Property & Casualty), Decision and IPELS (Israel, Poland, Emerge, Latvia, Spain). For the years ended December 31, 2019, 2020 and 2021, no impairment of goodwill has been recorded. m. Impairment of long-lived assets: The Company’s long-lived assets and identifiable intangibles including right-of-use assets that are subject to amortization are reviewed for impairment in accordance with ASC 360 “Property, Plant, and Equipment”, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. ASC 360 provides examples of events or changes in circumstances that might indicate that impairment exists for a particular long-lived asset or asset group. Among those events and circumstances that the Company believes to be impairment indicators are: - A significant decrease in the market price of a long-lived asset (asset group) - A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During 2019, no impairment losses have been identified. During 2021 and 2020, the Company identified an impairment loss of $1,439 and $351, respectively, as outlined in Note 6. n. Revenue recognition: The Company implements the provisions of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). See Note 18 for further disclosures. Revenues are recognized when control of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company generates revenues mainly from sales of software licenses which include significant implementation and customization services. In addition, the Company generates revenues from post implementation consulting services and maintenance services. Revenues from these contracts are based on either fixed price or time and material. Revenue from long term contracts which involve significant implementation, customization, or integration of the Company’s software license to customer-specific requirements are considered as one performance obligation satisfied over-time. The underlying deliverable is owned and controlled by the customer and does not create an asset with an alternative use to the Company. In addition, the Company has enforceable right to payment for performance completed to date. Accordingly, the Company recognizes revenue on such contracts over time, using the percentage of completion accounting method. The Company recognizes revenue and gross profit as the work is performed, based on a ratio between actual costs incurred compared to the total estimated costs for the contract. Determining the projected labor costs requires understanding the project-specific circumstances, including the specific terms and conditions of each complex contract, changes to the project schedule, and complexity of the project. Provisions for estimated losses on uncompleted contracts are made during the period in which such losses become probable, in the amount of the estimated loss on the entire contract. When post implementation and consulting services do not involve significant customization, the Company accounts for such services as performance obligations satisfied over time and revenues are recognized as the services are provided. When the Company enters into a contract for the sale of software license which does not require significant implementation services, and the customer receives the rights to use the perpetual or term-based software license, the Company recognizes revenue from the sale of the software license at the time of delivery, when the customer receives control of the software license. The software license is considered a distinct performance obligation recognized at a point-in-time, as the customer can benefit from the software on its own or together with other readily available resources. The Company allocates the transaction price for each contract to each performance obligation identified in the contract based on the relative standalone selling price (SSP). The Company determines SSP for the purposes of allocating the transaction price to each performance obligation by considering several external and internal factors including, but not limited to, transactions where the specific performance obligation is sold separately, historical actual pricing practices and geographies in which the Company offers its services. If a specific performance obligation, such as the software license, is sold for a broad range of amounts (that is, the selling price is highly variable) or if the Company has not yet established a price for that good or service, and the good or service has not previously been sold on a standalone basis (that is, the selling price is uncertain), the Company applies the residual approach whereby all other performance obligations within a contract are first allocated a portion of the transaction price based upon their respective SSPs with any residual amount of transaction price allocated to the remaining specific performance obligation. In addition to software license fees, contracts with customers may contain an agreement to provide for maintenance services. The Company considers the maintenance performance obligation as a distinct performance obligation that is satisfied over time and recognized on a straight-line basis over the contractual period. Sales commissions are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions paid for initial contracts, which are not commensurate with sales commissions paid for renewal contracts, are capitalized and amortized over an expected period of benefit. Sales commissions on initial contracts, which are commensurate with sales commissions paid for renewal contracts, are capitalized and then amortized correspondingly to the recognized revenue of the related initial contracts. Sales commissions for renewal contracts are capitalized and then amortized on a straight-line basis over the related contractual renewal period. If the expected amortization period is one-year or less, th e Amortization expense related to these costs are included in sales, marketing, general and administrative expenses. o. Income taxes: The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. This topic prescribes the use of the asset and liability method, whereby deferred tax asset and liability account balances are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to the amounts that are more likely-than-not to be realized. The Company implements a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% (cumulative basis) likely to be realized upon ultimate settlement. The Company classifies interest as financial expense and penalties as selling, marketing, general and administrative expenses. p. Concentrations of credit risks: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, trade receivables, unbilled receivables and contract assets, and foreign currency derivative contracts. The Company’s cash and cash equivalents and short-term bank deposit are invested in bank deposits mainly in dollars and NIS. Deposits in the U.S. may be in excess of insured limits and are not insured in other jurisdictions. Generally, these banks deposits may be redeemed upon demand and therefore bear minimal risk. The Company’s trade receivables are generally derived from sales to large and solid organizations located mainly in North America, Europe and the rest of the world. The Company performs ongoing credit evaluations of its customers and to date has not experienced any material losses. In certain circumstances, the Company may require prepayment. The Company entered into forward contracts, and option contracts intended to protect against the increase in value of forecasted non-dollar currency cash flows. The derivative instruments hedge a portion of the Company’s non-dollar currency exposure. No off-balance sheet concentrations of credit risk exist. q. Accrued severance pay and retirement plans: The Company’s liability for severance pay for its Israeli employees is calculated pursuant to Israel’s Severance Pay Law based on the most recent monthly salary of the employees multiplied by the number of years of employment as of the balance sheet date. Employees are entitled to one month’s salary for each year of employment, or a portion thereof. The Company’s liability is fully provided by monthly deposits with insurance policies and severance pay funds and by an accrual. The deposited funds include profits (losses) accumulated up to the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligation pursuant to Israel’s Severance Pay Law or employment agreements. The value of the deposited funds is based on the cash surrendered value of these policies and recorded as an asset in the Company’s consolidated balance sheet. In addition, the Company signed a collective agreement with certain employees, according to which the Company’s contributions for severance pay shall be in lieu of severance compensation and that upon release of the policy to the employee, no additional payments shall be made by the Company to the employee. Generally, the Company, under its sole discretion, pays to these employees the entire liability, irrespective of the collective agreement described per above. Therefore, the net obligation related to those employees is stated on the balance sheet as accrued severance pay. The Company’s agreements with certain employees in Israel are in accordance with Section 14 of the Severance Pay Law, whereas, the Company’s contributions for severance pay shall be in lieu of its severance liability. Upon contribution of the full amount of the employee’s monthly salary, and release of the policy to the employee, no additional calculations shall be conducted between the parties regarding the matter to severance pay and no additional payments shall be made by the Company to the employee. Further, the related obligation and amounts deposited on behalf of such obligation are not stated on the balance sheet, as they are legally released from obligation to employees once the deposit amounts have been paid. Severance expense for the years 2019, 2020 and 2021 amounted to $3,718, $4,020 and $4,538, respectively. The Company has a 401(k) retirement savings plan for most of its U.S. employees. Each eligible employee may elect to contribute a portion of its employee’s compensation to the plan. The Company has a discretionary employer match. In the reporting periods, this match ranges from 2-3% if an employee contributed 6%. Such 401(k) employer match expense for the year 2019, 2020 and 2021 amounted to $1,144, $1,233 and $1,282, respectively. r. Basic and diluted net earnings per share: Basic net earnings per share are computed based on the weighted average number of common shares outstanding during each year. Diluted net earnings per share are computed based on the weighted average number of common shares outstanding during each year plus dilutive potential equivalent common shares considered outstanding during the year, in accordance with ASC 260, “Earnings Per Share”. s. Stock-based compensation: The Company accounts for stock-based compensation in accordance with ASC 718, “Compensation - Stock Compensation” (“ASC 718”), which requires the measurement and recognition of compensation expense based on estimated fair values for all share-based payment awards made. ASC 718 requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model. The Company uses the Binomial Lattice (“Binomial model”) option-pricing model to estimate the fair value for any options granted. The Binomial model takes into account variables such as volatility, dividend yield rate, and risk-free interest rate and also allows for the use of dynamic assumptions and considers the contractual term of the option, and the probability that the option will be exercised prior to the end of its contractual life. The Company recognizes forfeitures of equity-based awards as they occur. Stock-based compensation cost is measured at the grant date, based on the fair value of the award. The Company recognizes compensation expense for the value of its awards, which have graded vesting, on a straight-line basis when the only condition to vesting is continued service. If vesting is subject to a performance condition, recognition is based on the implicit service period of the award. Expense for awards with performance conditions is estimated and adjusted on a quarterly basis based upon the assessment of the probability that the performance condition will be met. The fair value of each option granted in 2019, 2020 and 2021 using the Binomial model, was estimated on the date of grant with the following assumptions: Year ended December 31, 2019 2020 2021 Contractual life 6 years 6 years 6 years Expected exercise factor 2-2.8 2-2.8 2-2.8 Dividend yield 0% 0% 0% Expected volatility (weighted average) 30.5%-30.9% 31.0%-35.2% 36.3%-36.9% Risk-free interest rate 1.6%-2.6% 0.4%-1.8% 0.5%-1.3% The risk-free interest rate assumption is based on the yield from U.S. Treasury zero-coupon bonds with an equivalent term as of the Company’s employee stock options. Since dividend payment is applied to reduce the exercise price of the option, the effect of the dividend protection is reflected by using an expected dividend assumption of zero. The expected life of options granted is derived from the output of the option valuation model and represents the period of time the options are expected to be outstanding. The expected exercise factor is based on industry acceptable rates since no actual historical behavior by option holders exists. Expected volatility is based on the historical volatility of the Company. t. Fair value of financial instruments: ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”), defines fair value as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches. ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Include other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs which are supported by little or no market activity. The Company measures its foreign currency derivative instruments at fair value. Foreign currency derivative contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments. The carrying amounts of cash and cash equivalents, short-term bank deposit, trade receivables, other receivables and prepaid expenses and accounts payable approximate fair value due to the short-term maturities of such instruments. The following table presents liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2021: December 31, 2020 2021 Fair value measurement Other receivables and prepaid expenses: Derivative instruments $ - $ 188 Total Assets $ - $ 188 Accrued expenses and other liabilities: Derivative instruments $ (707 ) $ - Current maturities of Series B Debentures $ (19,796 ) $ (19,796 ) Series B Debentures, net of current maturities $ (98,676 ) $ (78,986 ) Total liabilities $ (119,179 ) $ (98,782 ) u. Derivatives and hedging: The Company enters into option contracts and forward contracts to hedge certain transactions denominated in foreign currencies. The purpose of the Company’s foreign currency hedging activities is to protect the Company from risk that the eventual dollar cash flows from international activities will be adversely affected by changes in the exchange rates. The Company’s option and forward contracts do not qualify as hedging instruments under ASC 815, “Derivatives and hedging”. Changes in the fair value of option strategies are reflected in the consolidated statements of income as financial income or expense. In 2019, 2020 and 2021, the Company entered into option contracts in the notional amounts of $24,296, $1,650 and $27,138, respectively, and in 2019, 2020 and 2021 the Company entered into forward contracts in the aggregate notional amounts of $74,297, $260,862 and $140,688, respectively, in order to protect against foreign currency fluctuations. As of December 31, 2019, 2020 and 2021, the Company had outstanding options and forward contracts, in the notional amount of $15,384, $3,866 and $20,000, respectively. In 2019, 2020 and 2021, the Company recorded financial income, net of $535, $104 and $3,338 respectively, with respect to the above transactions, presented in the statements of income as part of financial expenses, net. v. Treasury shares: Repurchased common shares are held as treasury shares. The Company presents the cost to repurchase treasury stock as a reduction of shareholders’ equity. w. Comprehensive income (loss): The Company accounts for comprehensive income (loss) in accordance with ASC 220, “Comprehensive Income”. Comprehensive income (loss) generally represents all changes in shareholders’ equity during the period except those resulting from investments by, or distributions to, shareholders. x. Recently issued accounting pronouncements: In October 2021, the FASB issued ASU 2021-08 “Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. The guidance will result in the acquirer recognizing contract assets and contract liabilities at the same amounts recorded by the acquiree. The guidance should be applied prospectively to acquisitions occurring on or after the effective date. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance (ASU 2021-10), which improves the transparency of government assistance received by most business entities by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity’s financial statements. This guidance is effective for financial statements issued for annual periods beginning after 15 December 2021. Early adoption is permitted. The impact of this ASU on the Company’s consolidated financial statements is expected to be immaterial.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
ACQUISITIONS	NOTE 3:- ACQUISITIONS 1. Acquisition of Thor Denmark Holding ApS and its subsidiaries: On November 30, 2020 (“the TIA Acquisition Date”), the Company completed the acquisition of all of the outstanding shares of Thor Denmark Holding ApS (“TIA”), a leading vendor of digital software solutions. TIA offers comprehensive software solutions primarily for Property & Casualty insurers, as well as several innovative extension modules. Additionally, TIA offers a full scope of expert implementation, application management and hosting services, enabling insurers to execute their digital and business strategies. The purchase price amounted to $76,107 in cash, subject to net working capital adjustments. Acquisition related costs amounted to $719, and are presented under selling, marketing, general and administrative in the Company’s consolidated statements of income. The results of TIA’s operations have been included in the consolidated financial statements from the TIA Acquisition Date. During 2021, the Company and TIA’s former shareholders (“Sellers”) agreed on the final working capital adjustments which resulted in payment of $0.8 million from Sellers to the Company. The following table summarizes the fair value of the assets acquired and liabilities assumed: Current assets (including cash of $2,292) $ 6,337 Goodwill 58,120 Intangible assets 29,946 Other long-term assets 4,254 Total assets acquired $ 98,657 Current liabilities $ 4,800 Deferred revenues 5,742 Deferred tax liabilities 6,962 Other long-term liabilities 5,877 Total liabilities acquired $ 23,381 Net assets acquired $ 75,276 The following table sets forth the components of intangible assets associated with the acquisition: Fair value Developed technology $ 10,517 Customer relationships 19,266 Backlog 163 Total intangible assets $ 29,946 The excess of purchase consideration over the fair value of net tangible and intangible assets acquired was recorded as goodwill. The goodwill from the acquisition of TIA is primarily attributable to potential synergy with Sapiens, as well as certain intangible assets that do not qualify for separate recognition. The goodwill is not deductible for income tax purposes. Pro forma results of operations related to this acquisition have not been presented because they are not material to the Company’s consolidated statements of income. 2. Acquisition of sum.cumo: On February 6, 2020 (the “sum.cumo Acquisition Date”), Sapiens completed the acquisition of all the outstanding shares of sum.cumo GmbH (“sum.cumo”), a German company, which services insurers in the DACH region, helping them to achieve digital transformation of set up their existing business models or to design entirely new business models based on pure digital processes. sum.cumo’s experts in consulting, user experience, marketing and technology enable the region’s insurers to launch highly automated platforms well suited for e-commerce and real-time processing of transactions. The purchase price totaled $ 22,487 in cash. At the acquisition date, the Company issued an aggregate of 173,005 RSUs to certain employees of sum.cumo, valued at a total of $4,400. The value of these grants was not included in the purchase price of sum.cumo, since their vesting is subject to both continued employment and other performance criteria. In addition, sum.cumo’s senior executives have retention-based payments over three years (2020-2023) of up to approximately $2,800. These payments are subject to continued employment, and therefore were not included in the purchase price. Acquisition related costs amounted to $561, and are presented under selling, marketing, general and administrative in the Company’s consolidated statements of income. The results of sum.cumo’s operations have been included in the consolidated financial statements from the sum.cumo Acquisition Date. The table below presents the fair value that was allocated to sum.cumo’s assets and liabilities based upon fair values as determined by the Company. Net assets (including cash of $ 981) $ 1,447 Intangible assets 9,730 Deferred tax liabilities (3,211 ) Goodwill 14,521 Net assets acquired $ 22,487 The excess of purchase consideration over the fair value of net tangible and intangible assets acquired was recorded as goodwill. The goodwill from the acquisition of sum.cumo is primarily attributable to sales growth from future products, new customers and potential synergy with Sapiens, as well as certain intangible assets that do not qualify for separate recognition. The goodwill is not deductible for income tax purposes. Pro forma results of operations related to this acquisition have not been presented because they are not material to the Company’s consolidated statements of income. 3. Acquisition of Delphi Technology Inc. and its subsidiary: On July 27, 2020 (the “Delphi Acquisition Date”), the Company completed the acquisition of Delphi Technology Inc. (“Delphi”), a leading vendor of software solutions for property & casualty (P&C) carriers, with a focus on the medical professional liability (MPL)/healthcare professional liability (HCPL) markets (sometimes referred to as “medical malpractice”). The total purchase price was $19,600 in cash. Acquisition related costs amounted to $299, and are presented under selling, marketing, general and administrative in the Company’s consolidated statements of income. The results of Delphi’s operations have been included in the consolidated financial statements from the Delphi Acquisition Date. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 in the United States. On April 22, 2020, Delphi applied for such aid in the form of U.S. Small Business Administration’s Paycheck Protection Program (“PPP Loan”) in the amount of $1,546. The PPP Loan is scheduled to mature on April 22, 2022, has a 1% interest rate, and is subject to the terms and conditions applicable to all loans made pursuant to the Paycheck Protection Program as administered by the U.S. Small Business Administration under the CARES Act. The PPP Loan was applied for by Delphi prior to the acquisition of the Company. The table below presents the fair value that was allocated to Delphi’s assets and liabilities based upon fair values as determined by the Company: Net liabilities (including cash of $ 6,265) $ (524 ) Intangible assets 7,562 Deferred tax liabilities, net (2,313 ) Goodwill 14,875 Net assets acquired $ 19,600 The excess of purchase consideration over the fair value of net tangible and intangible assets acquired was recorded as goodwill. The goodwill from the acquisition of Delphi is primarily attributable to potential synergy with Sapiens, as well as certain intangible assets that do not qualify for separate recognition. The goodwill is not deductible for income tax purposes. Pro forma results of operations related to this acquisition have not been presented because they are not material to the Company’s consolidated statements of income. 4. Acquisition of Tiful Gemel Ltd.: On June 1, 2020 (the “Tiful Gemel Acquisition Date”), Sapiens completed the acquisition of 75% of the outstanding shares of Tiful Gemel Ltd. (“Tiful Gemel”), an Israeli company which provides software solutions and managed services related to pension and provident funds in the Israeli market, for a total cash consideration of $1,281. In addition, under the share purchase agreement, the Company is committed to acquire the remainder of Tiful Gemel’s outstanding shares on June 1, 2023. Pro forma results of operations related to this acquisition have not been presented because they are not material to the Company’s consolidated statements of income. On July 8, 2021, the Company completed the acquisition of additional 20% of the outstanding shares of Tiful Gemel for a total amount of $390. 5. Acquisition of Cálculo S.A.U.: On September 27, 2019 (the “Acquisition Date”), Sapiens completed the acquisition of all outstanding shares of Cálculo S.A.U (“Cálculo”), a Spanish company of insurance consulting and managed services, and a core solution to the Spanish market, for a total cash consideration of $5,760 (of which $5,608 were paid in September 2019, and $152 was paid in the first half of 2020). In addition, the sellers and senior executives have performance-based payments relating to achievements of various targets over three years (2019-2021) of up to $1,700. Some of these payments are subject to continued employment, and therefore were not included in the purchase price. Acquisition related costs were immaterial. The results of Cálculo’s operations have been included in the consolidated financial statements from the acquisition date. Pro forma results of operations related to this acquisition have not been presented because they are not material to the Company’s consolidated statements of income.

Other Long-Term Assets

Other Long-Term Assets	12 Months Ended
	Dec. 31, 2021
Other Long Term Assets Disclosure [Abstract]
OTHER LONG-TERM ASSETS	NOTE 4:- OTHER LONG-TERM ASSETS December 31, 2020 2021 Deferred tax assets $ 1,870 $ 3,122 Long-term unbilled receivables 772 1,642 Rent deposits 2,132 2,077 Other 490 447 $ 5,264 $ 7,288

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 5:- PROPERTY AND EQUIPMENT, NET December 31, 2020 2021 Cost: Computers and peripheral equipment $ 43,426 $ 45,290 Office furniture and equipment 10,435 9,212 Buildings and leasehold improvements 10,481 9,210 64,342 63,712 Accumulated depreciation: Computers and peripheral equipment 37,407 38,770 Office furniture and equipment 5,697 5,741 Buildings and leasehold improvements 4,268 4,743 47,372 49,254 Depreciated cost $ 16,970 $ 14,458 Depreciation expense totaled $3,470, $4,698 and $5,360 for the years 2019, 2020 and 2021, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASES	NOTE 6:- LEASES The Company leases substantially all of its office space and vehicles under operating leases. The Company’s leases have original lease periods expiring between 2022 and 2030. Some leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. Lease payments included in the measurement of the lease liability comprise the following: the fixed non-cancellable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early. Due to the outbreak of COVID-19 and as a result of implementing a hybrid working model, the Company decided not to occupy leased offices in several locations. As a result of this, in 2020 the Company recorded a loss contingency of $2,155 related to Bangalore, India and an impairment of $351 related to Holon, Israel. In December 2021, the Company recorded an impairment in the amount of $1,439 primarily related to the offices in the United States and Germany. Furthermore, in November and December 2021 the Company signed an amendment with its lessor in Holon, Israel to vacate a portion of the offices. The loss contingency and the impairment were included in the Operating expenses in the Company’s consolidated statement of income. The corresponding lease liabilities are classified as current and non-current operating lease liabilities. The components of operating lease costs were as follows: Year ended December 31, 2020 2021 Operating lease cost $ 8,144 $ 7,946 Variable lease cost 4,150 4,241 Short-term lease cost 422 373 Total lease costs $ 12,716 $ 12,560 The following is a summary of weighted average remaining lease terms and discount rates for all of the Company’s operating leases: December 31, 2021 Weighted average remaining lease term (years) 6.26 Weighted average discount rate 4.77 % Cash paid for amounts included in the measurement of operating lease liabilities for the years ended December 31, 2020 and 2021, respectively, was $9,886 and $10,964 (included in cash flows from operating activities). Maturities of lease liabilities are as follows: 2022 $ 11,115 2023 10,226 2024 7,953 2025 7,205 2026 6,726 2027 and thereafter 14,923 Total undiscounted cash flows 58,148 Less imputed interest 8,570 Present value of lease liabilities $ 49,578

Capitalized Software Developmen

Capitalized Software Development Costs, Net	12 Months Ended
	Dec. 31, 2021
Research and Development [Abstract]
CAPITALIZED SOFTWARE DEVELOPMENT COSTS, NET	NOTE 7:- CAPITALIZED SOFTWARE DEVELOPMENT COSTS, NET The changes in capitalized software development costs for the years ended December 31, 2020 and 2021 were as follows: Year ended 2020 2021 Balance at the beginning of the year $ 23,953 $ 24,362 Capitalization 5,798 7,911 Amortization (6,558 ) (7,679 ) Functional currency translation adjustments 1,169 609 Balance at year end $ 24,362 $ 25,203 Amortization of capitalized software development costs for 2019, 2020 and 2021, was $5,668, $6,558 and $7,679, respectively. Amortization expense is included in cost of revenues.

Other Intangible Assets, Net

Other Intangible Assets, Net	12 Months Ended
	Dec. 31, 2021
Other Intangible Assets, Net [Abstract]
OTHER INTANGIBLE ASSETS, NET	NOTE 8:- OTHER INTANGIBLE ASSETS, NET a. Other intangible assets, net, are comprised of the following: Weighted December 31, 2020 2021 Original amounts: Customer relationships 7.6 $ 59,482 $ 57,317 Technology 4.0 70,813 70,123 Patent 2.5 1,493 1,544 131,788 128,984 Accumulated amortization: Customer relationships 18,827 23,940 Technology 37,050 46,960 Patent 958 1,145 56,835 72,045 Other intangible assets, net $ 74,953 $ 56,939 In October 2020, the Company purchased a perpetual software license, which includes a permission to use the licensor’s source code and intellectual property rights, for a total consideration of $2,810. This purchase was included in technology under other intangible assets. In December 2021, the Company purchased net assets from a U.S company, for a total consideration of approximately $600. The acquired assets mainly included customer relationship and technology. b. Amortization of other intangible assets was $10,000, $12,127 and $15,630 for 2019, 2020 and 2021, respectively. c. Estimated amortization expense for future periods: 2022 $ 12,374 2023 11,760 2024 8,853 2025 6,621 2026 and thereafter 17,331 $ 56,939

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2021
Goodwill [Abstract]
GOODWILL	NOTE 9:- GOODWILL The changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2021 are as follows: Year ended 2020 2021 Balance at the beginning of the year $ 170,703 $ 264,282 Acquisitions 87,438 593 Functional currency translation adjustments 6,141 (3,734 ) Balance at year end $ 264,282 $ 261,141

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2021
Accrued Expenses and Other Liabilities [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	NOTE 10:- ACCRUED EXPENSES AND OTHER LIABILITIES December 31, 2020 2021 Government authorities $ 10,348 $ 7,010 Accrued expenses and other liabilities 24,277 26,038 $ 34,625 $ 33,048

Series B Debentures, Net of Cur

Series B Debentures, Net of Current Maturities	12 Months Ended
	Dec. 31, 2021
Series B Debentures, Net of Current Maturities [Abstract]
SERIES B DEBENTURES, NET OF CURRENT MATURITIES	NOTE 11:- SERIES B DEBENTURES, NET OF CURRENT MATURITIES December 31, 2020 2021 Series B Debentures $ 118,778 $ 98,982 Less: Current maturities (19,796 ) (19,796 ) Less: Unamortized debt discounts and issuance costs (306 ) (200 ) $ 98,676 $ 78,986 In September 2017, the Company issued Series B Debentures in the aggregate principal amount of NIS 280 million (approximately $79.2 million), linked to US dollars, payable in eight equal annual payments of $9,898, on January 1 of each of the years 2019 through 2026. The outstanding principal amount of the Series B Debentures will bear a fixed interest rate of 3.37% per annum, payable on January 1 and July 1 of each of the years 2018 through 2025, with one final interest payment on January 1, 2026. Debt discount and issuance costs were approximately $956, allocated to the Series B Debentures discount and are amortized as financial expenses over the term of the Series B Debentures due in 2026. In June 2020, the Company expanded the Series B Debentures issuance and raised an additional NIS 210 million (approximately $60.3 million) linked to US dollars, payable in six equal annual payments of $9,898, on January 1 of each of the years 2021 through 2026. The outstanding principal amount of the Series B Debentures will bear a fixed interest rate of 3.37% per annum, payable on January 1 and July 1 of each of the years 2020 through 2025, with one final interest payment on January 1, 2026. Debt premium and issuance costs, net, were approximately $80, allocated to the Series B Debentures discount and are amortized as financial expenses over the term of the Series B Debentures due in 2026. Following the raise of the additional NIS 210 million (approximately $60.3 million) in Series B Debentures, a $20,000 short-term bank loan taken on March 18, 2020, from a commercial bank was fully repaid on June 9, 2020. The Series B Debentures are listed for trading on the Tel-Aviv Stock Exchange. The Series B Debentures are unsecured and non-convertible. The Series B Debentures interest may be increased in the event that the debentures’ rating is downgraded below a certain level. The Company has undertaken to maintain a number of conditions and limitations on the manner in which it operates its business, including limitations on its ability to undergo a change of control, distribute dividends, incur a floating charge on the Company’s assets, or undergo an asset sale or other change that results in a fundamental change in the Company’s operations. In accordance with the indenture for the Series B Debentures, the Company is required to meet the following financial covenants: (1) Target shareholders’ equity (excluding minority interest)- above $120 million – as of December 31, 2021, total shareholders’ equity was approximately $407 million; and (2) Target ratio of net financial indebtedness to net capitalization (in each case, as defined under the indenture for the Company’s Series B Debentures) below 65% - as of December 31, 2021 the ratio of net financial indebtedness to net capitalization was (36.78)%. (3) Target ratio of net financial indebtedness to EBITDA (accumulated calculation for the four last quarters) is below 5.5. As of December 31, 2021, the Target ratio of net financial indebtedness to EBITDA was (1.27). As of December 31, 2021, Sapiens is in compliance with all of its financial covenants. During the years ended December 31, 2019, 2020 and 2021, the Company recorded $2,336, $3,180 and $3,337, respectively, of interest expense and $171, $134 and $106, respectively, of amortization of debt issuance costs, premium and discount in respect of the Series B Debentures. As of December 31, 2020, and 2021, the estimated fair value of the Company’s Series B Debentures was $122,760 and $100,465, respectively. The fair value was determined based on the closing trading price of the Series B Debentures as of the last day of trading for the period. The fair value of the Series B Debentures is considered a Level 2 measurement as they are not actively traded.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 12:- COMMITMENTS AND CONTINGENTIES a. Sapiens Technologies (1982) Ltd. (“Sapiens Technologies”), a subsidiary incorporated in Israel, was partially financed under programs sponsored by the Israel Innovation Authority (“IIA”), formerly the Office of the Chief Scientist, for the support of certain research and development activities conducted in Israel. In exchange for participation in the programs by the IIA, the Company agreed to pay 3.5% of total net consolidated license and maintenance revenue and 0.35% of the net consolidated consulting services revenue related to the software developed within the framework of these programs based on an understanding with the IIA reached in January 2012. The royalties will be paid up to a maximum amount equaling 100%-150% of the grants provided by the IIA, linked to the dollar, and for grants received after January 1, 1999, bear annual interest at a rate based on LIBOR. Royalty expense amounted to $471, $494 and $531 in 2019, 2020 and 2021, respectively, and are included in cost of revenues. As of December 31, 2020 and 2021, the Company had a contingent liability to pay royalties of up to $6,014 and $5,454, respectively. b. The Company provided bank guarantees in the amount of $924 as security for the rent to be paid for its leased offices. The bank guarantees will be expired and renewed in February 2022. As of December 31, 2020 and 2021, the Company provided bank guarantees of $291 and $320, respectively, as security for the performance of various contracts with customers and suppliers. c. In accordance with the indenture for the Series B Debentures, the Company is required to meet certain financial covenants. See Note 11 above. d. Contingent purchase obligations As part of the Company’s acquisitions in recent years, the Company has several contingent earn-out obligations depending on retention and performance criteria. Refer to Note 3 for further information.

Taxes on Income

Taxes on Income	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
TAXES ON INCOME	NOTE 13:- TAXES ON INCOME a. Israeli taxation: 1. Corporate tax rates in Israel: Taxable income of Israeli companies was generally subject to corporate tax at the rate of was 23% in 2021 and 2020. Some of the Israeli subsidiaries are eligible for tax benefits as described below. 2. Tax benefits under the Israel Law for the Encouragement of Capital Investments, 1959 (“the Law”): Amendment 73 to the law: In December 2016, the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years) 2016, which includes Amendment 73 to the Law for the Encouragement of Capital Investments (“the 2017 Amendment”) was published and was pending the publication of regulations, in May 2017 regulations were promulgated by the Finance Ministry to implement the “Nexus Principles” based on OECD guidelines published as part of the Base Erosion and Profit Shifting (BEPS) project. Following the publication of the regulations the 2017 Amendment became fully effective. According to the 2017 Amendment, a Preferred Technological Enterprise, as defined in the 2017 Amendment, with total consolidated revenues of the group companies is less than NIS 10 billion, shall be subject to 12% tax rate on income derived from intellectual property (in development area A—a tax rate of 7.5%). In order to qualify as a Preferred technological enterprise certain criterion must be met, such as a minimum ratio of annual R&D expenditure and R&D employees, as well as having at least 25% of annual revenues derived from exports. A PTE that acquires Benefited Intangible Assets from a foreign company for more than NIS 200 million after January 1, 2017, will be eligible for 12% reduce tax rate on capital gain upon sale of the Benefited Intangible Assets. The 2017 Amendment further provides that a technology company satisfying certain conditions will qualify as a Special Preferred Technology Enterprise (“SPTE”) (an enterprise for which, among others, total consolidated revenues of its parent company and all subsidiaries is at least NIS 10 billion) and will thereby enjoy a reduced corporate tax rate of 6% on PTI regardless of the Company’s geographic location within Israel. In addition, a SPTE will enjoy a reduced corporate tax rate of 6% on capital gain derived from the sale of certain “Benefited Intangible Assets” to a related foreign company if the Benefited Intangible Assets were either developed by the Special Preferred Technology Enterprise or acquired from a foreign company on or after January 1, 2017. Starting from 2017 under Amendment 73 to the Investment Law, part of the Company’s taxable income in Israel were entitled to a preferred 12% tax rate. Since 2019, under SPTE the tax rate for part of the Company’s taxable income in Israel has been reduced to a 6% corporate tax rate. Amendment 74 to the Encouragement Law: On November 15, 2021, the Economic Efficiency Law (Legislative Amendments for Achieving Budget Targets for the 2021 and 2022 Budget Years), 2021 (“the Economic Efficiency Law”), was enacted. This Law establishes a temporary order allowing Israeli companies to release tax-exempt earnings (“trapped earnings” or “accumulated earnings”) accumulated until December 31, 2020, through a mechanism established for a reduced corporate income tax rate applicable to those earnings (“the Temporary Order”). In addition to the reduced corporate income tax (CIT) rate, Article 74 to the Encouragement Law was amended whereby effective from August 15, 2021, for any dividend distribution (including a dividend as per Article 51B to the Encouragement Law) by a company which has trapped earnings, there will be a requirement to allocate a portion of that distribution to the trapped earnings. The tax-exempt income is attributable to the Company's previous status as "Approved Enterprise" and "Benefited Enterprise". Such tax-exempt income cannot be distributed to shareholders without subjecting the Company to payable income taxes. If dividends are distributed from previous tax-exempt profits, the Company will be liable for income tax at the rate applicable to its profits from the Approved Enterprise in at the tax rate enacted in the year in which the income was earned. According to the Temporary Order, the reduction of CIT will apply to earnings that are released (with no requirement for an actual distribution) within a period of one year from the date of enactment of the Temporary Order. The reduction in the CIT is dependent on the proportion of the trapped earnings that are released in relation to the total trapped earnings, and on the applicable CIT rate in the years the earnings were generated. Consequently, the larger the proportion of the trapped earnings that are released, the lower the tax in respect of the distribution. The minimum tax rate is 6%. Further, a company that elects to pay a reduced CIT is required to invest in its industrial enterprise a designated amount in accordance with the Economic Efficiency Law within a period of five years commencing from the tax year in which the election is made. The designated investment should be utilized for the acquisition of production assets, and/or investments in research and development and/or compensation to additional new employees. According to ASC 740, a deferred tax liability would generally be recorded relating to corporate taxes that would be owed on the distribution of profits if management has currently the intention to declare dividends of its tax-exempt earnings. In 2021, the Company elected to benefit from the Temporary Order and pay the reduced CIT as per the provisions of the Economic Efficiency Law in respect of its total accumulated tax-exempt earnings amounting to NIS 109 million (approximately $35.3 million), and accordingly recognized deferred tax liability of $3,531. The Company is expecting to file the election with the Israeli authorities during 2022. 3. Foreign Exchange Regulations: Under the Foreign Exchange Regulations, some of the Company’s Israeli subsidiaries calculate their tax liability in U.S. Dollars according to certain orders. The tax liability, as calculated in U.S. Dollars is translated into NIS according to the exchange rate as of December 31, of each year for tax purposes only. b. Income taxes on non-Israeli subsidiaries: Non-Israeli subsidiaries are taxed according to the tax laws in their respective country of residence. Deferred income taxes were provided in relation to undistributed earnings of non-Israeli subsidiaries, which the Company intends to distribute in the near future. The Company intends to permanently reinvest undistributed earnings in the foreign subsidiaries in which earnings arose, in the vast majority of its subsidiaries. If the earnings, for which deferred taxes were not provided, were distributed in the form of dividends or otherwise, the Company would be subject to additional Israeli income taxes (subject to an adjustment for foreign tax credits) and non-Israeli withholding taxes. The amount of undistributed earnings of foreign subsidiaries that are considered to be reinvested as of December 31, 2021, was $56,117 and the amount of the unrecognized deferred tax liability for temporary differences related to investments in foreign subsidiaries that were essentially permanent in duration as of December 31, 2021, was $5,553. c. Tax Reform - United States of America: The U.S. Tax Cuts and Jobs Act of 2017 (“TCJA”) was approved on December 22, 2017. This legislation makes significant changes to the U.S. Internal Revenue Code. Such changes include a reduction in the corporate tax rate and limitations on certain corporate deductions and credits, among other changes. The TCJA reduces the U.S. federal corporate income tax rate from 35% to 21% effective January 1, 2018. In addition, the TCJA makes certain changes to the depreciation rules and implements new limits on the deductibility of certain expenses and deduction. The TCJA introduced the rules for tax on the global intangible low-taxed income (“GILTI”) on foreign income in excess of a deemed return on tangible assets of foreign corporations. One of our subsidiaries is subject to GILTI. d. Net operating losses carryforwards: As of December 31, 2021, certain subsidiaries had tax loss carryforwards totaling approximately $34,515. Most of these carryforward tax losses have no expiration date. e. Deferred tax assets and liabilities: Deferred taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. Significant components of the Company deferred tax assets and liabilities are as follows: December 31, 2020 2021 Deferred tax assets: Net operating losses carryforwards $ 8,701 $ *) 7,142 Research and development 1,514 1,316 Lease liability 9,441 8,725 Reserves and allowances 5,523 5,119 Other 2,041 3,38 3 Deferred tax assets before valuation allowance 27,220 25,685 Valuation allowance (8,057 ) (5,104 ) Deferred tax assets 19,163 20,581 Deferred tax liabilities: Capitalized software development costs (3,428 ) (3,045 ) Lease right-of-use asset (9,441 ) (8,098 ) Acquired intangibles (17,498 ) (13,169 ) Property and equipment (380 ) (367 ) Undistributed earnings (1,302 ) **) (8,047 ) Other (1,254 ) (93 ) Deferred tax liabilities (33,303 ) (32,819 ) Deferred tax liabilities, net $ (14,140 ) $ (12,238 ) *) Net of $1,180 provision for unrecognized tax benefits related to carryforward losses. **) Include $3,531 related to the Company’s election to release the trapped earnings - see Note 13.a.2. December 31, 2020 2021 Deferred tax assets, net $ 1,870 $ 3,122 Deferred tax liabilities, net (16,010 ) (15,360 ) Deferred tax liabilities, net $ (14,140 ) $ (12,238 ) Deferred tax assets, net, are included in other long-term assets. Deferred tax liabilities, net, are included in other long-term liabilities. The Company has provided valuation allowances in respect of certain deferred tax assets resulting from operating losses carry forwards and other reserves and allowances due to uncertainty concerning realization of these deferred tax assets. f. Income before taxes on income is comprised as follows: Year ended 2019 2020 2021 Domestic (Israel) $ 34,303 $ 34,037 $ 39,248 Foreign 798 7,161 18,038 $ 35,101 $ 41,198 $ 57,286 g. A reconciliation between the theoretical tax expense, assuming all income is taxed at the statutory tax rate applicable to income for an Israeli company, and the actual tax expense as reported in the statements of income is as follows: Year ended December 31, 2019 2020 2021 Income before taxes on income, as reported in the statements of income $ 35,101 $ 41,198 $ 57,286 Statutory tax rate in Israel 23 % 23 % 23 % Theoretical taxes on income $ 8,073 $ 9,476 $ 13,176 Increase (decrease) in taxes resulting from: Foreign and preferred enterprise tax rates differences (2,326 ) (5,511 ) (7,338 ) Changes in carry forward tax losses and other temporary differences for which valuation allowance was provided 783 558 (1,645 ) Non-deductible expenses 549 1,722 1,437 Increase in uncertain tax positions, net 1,889 755 616 Release of trapped earnings (see note 13.a.2) - - 3,531 Others (358 ) 41 187 Taxes on income, as reported in the statements of income $ 8,610 $ 7,041 $ 9,964 h. Taxes on income are comprised as follows: Year ended 2019 2020 2021 Current $ 14,733 $ 7,543 $ 11,866 Deferred (6,123 ) (502 ) (1,902 ) $ 8,610 $ 7,041 $ 9,964 Year ended 2019 2020 2021 Domestic (Israel) $ 3,639 $ 3,695 $ 9,086 Foreign 4,971 3,346 878 $ 8,610 $ 7,041 $ 9,964 i. Uncertain tax benefits: A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits is as follows: December 31, 2020 2021 Balance at the beginning of the year $ 5,835 $ 7,646 Acquisition of subsidiaries 1,057 - Increase in tax positions 2,487 2,731 Decrease in tax positions (1,733 ) (1,457 ) Balance at the end of the year $ 7,646 $ 8,920 As of December 31, 2020 and 2021, accrued interest related to unrecognized tax benefits amounted to $1,748 and $1,143, respectively. Although the Company believes that it has adequately provided for any reasonably foreseeable outcomes related to tax audits and settlement, there is no assurance that the final tax outcome of its tax audits will not be different from that which is reflected in the Company’s income tax provisions. Such differences could have a material effect on the Company’s income tax provision, cash flow from operating activities and net income in the period in which such determination is made. Tax assessments filed by part of the Company’s Israeli subsidiaries through the year ended December 31, 2016, are considered to be final. The Company is currently under audit in several jurisdictions for the tax years 2017 and onwards. Timing of the resolution of audits is highly uncertain and therefore, as of December 31, 2021, the Company cannot estimate the change in unrecognized tax benefits resulting from these audits.

Equity

Equity	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
EQUITY	NOTE 14:- EQUITY a. The common shares of the Company are traded on the NASDAQ and on the Tel-Aviv Stock Exchange. Common shares confer upon their holders voting rights, the right to receive cash dividends and the right to share in excess assets upon liquidation of the Company. On October 20, 2020, the Company completed a secondary public offering of its ordinary shares on the NASDAQ. The Company issued 3,898,304 shares at a price of $29.5 per share before issuance expenses and underwriting discounts. The total proceeds from the issuance amounted to $108,737, net of issuance expenses of $509. b. Share Incentive Plan: In 2011, the Company’s board of directors approved its 2011 Share Incentive Plan (the “2011 Plan”) pursuant to which the Company’s employees, directors, officers, consultants, advisors, suppliers, business partners, customers and any other person or entity whose services are considered valuable are eligible to receive awards of share options, restricted shares, restricted share units and other share-based awards. Options granted under the 2011 Plan may be exercised for a period of up to six years from the date of grant and become exercisable in four equal, annual installments, beginning with the first anniversary of the date of the grant, or pursuant to such other schedule as may provide in the option agreement. The total number of Common Shares available under the 2011 Plan was set at 8,000,000. Upon the approval of the 2011 Plan, the board of directors determined that no further awards would be issued under the Company’s previously existing share incentive plans. Upon the lapse of ten years following the adoption of the 2011 Plan, no further grants could be made under the plan. Consequently, in August 2021, we adopted our 2021 Share Incentive Plan (the “2021 Plan”), and all Common Shares that were reserved for issuance under the 2011 Plan and not subject to outstanding grants were transferred to the 2021 Plan. Even after our adoption of the 2021 Plan, all outstanding grants that were made under the 2011 Plan remain subject to the terms of the 2011 Plan. Common Shares underlying an award granted under the 2011 Plan that has expired, or is cancelled, terminated or forfeited for any reason, without having been exercised, are available for issuance under the 2021 Plan in accordance with the terms of the 2021 Plan. As of December 31, 2021, 1,868,172 common shares of the Company were available for future grant under the 2021 Plan. Any options granted under the 2021 Plan which are forfeited, cancelled, terminated or expired, will become available for future grant under the 2021 Plan. A summary of the stock option activities in the year ended on December 31, 2021 is as follows: Year ended December 31, 2021 Amount of Weighted Weighted Aggregate Outstanding on January 1, 2021 1,462,482 14.26 3.17 $ 24,019 Granted 847,000 30.36 Exercised (359,859 ) 10.32 Expired and forfeited (114,238 ) 12.69 Outstanding on December 31, 2021 1,835,385 22.27 3.77 22,374 Vested and expected to vest 1,835,385 22.27 3.77 22,374 Exercisable on December 31, 2021 734,969 12.95 2.10 $ 15,064 The weighted average grant date fair values of the options granted during the years ended December 31, 2019, 2020 and 2021 were $4.24, $7.99 and $10.35, respectively. The total intrinsic value of options exercised during the years ended December 31, 2019, 2020 and 2021 was $2,301, $11,658 and $8,505, respectively. The options outstanding under the Company’s stock option plans as of December 31, 2021 have been separated into ranges of exercise prices as follows: Weighted Weighted Average Options Average Weighted Options Exercise outstanding remaining average Exercisable price of as of contractual exercise as of Options December 31, Term price December 31, Exercisable Ranges of exercise price 2021 (Years) $ 2021 $ 7.94 3,750 2.35 7.94 - - 8.7-10.72 597,969 1.82 10.64 564,969 10.66 11.48-15.09 109,166 2.28 12.51 67,500 12.17 23.92-28.49 297,500 4.56 25.97 82,500 24.77 29.81-32.27 730,000 4.98 30.17 20,000 31.59 34.96 97,000 5.92 34.69 - - 1,835,385 3.77 22.27 734,696 12.95 The total equity-based compensation expenses related to all of the Company’s equity-based awards, recognized for the years ended December 31, 2019, 2020 and 2021, was $1,405, $3,987 and $4,711, respectively. Such expenses are recorded as part selling, marketing, general and administrative expenses in the Company’s consolidated statements of income. A summary of the RSU activities in the year ended on December 31, 2021, is as follows: Amount of options Weighted Average Grant-Date Fair Value Unvested on January 1, 2021 238,005 24.45 Granted 74,222 29.96 Vested (43,451 ) 24.45 Expired and forfeited (65,020 ) 24.47 Unvested on December 31, 2021 203,756 26.46 In connection with the Company’s acquisition of sum.cumo, on February 6, 2020 (see Note 3), the Company issued an aggregate of 173,005 RSUs to certain employees of sum.cumo in connection with the acquisition. The value of these grants was not included in the purchase price of sum.cumo, since their vesting is subject to both continued employment and other performance criteria. On August 3, 2021, the Company issued another 24,222 RSUs to certain employees of sum.cumo in connection with the acquisition. The Company recorded compensation costs related to RSUs of $1,130 for the year ended December 31, 2021, which were included in Selling, marketing, general and administrative expenses in the Company’s consolidated statements of income. c. As of December 31, 2021, there was $10,369 of total unrecognized compensation cost related to non-vested options and RSUs, which is expected to be recognized over a weighted-average period of 2.05 years. d. Dividend: On April 12, 2021, the Company’s extraordinary general meeting of shareholders approved the distribution of a cash dividend of $0.37 per common share for a total amount of $20,286 that was paid during the second quarter of 2021.

Related Parties Transactions

Related Parties Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTIES TRANSACTIONS	NOTE 15:- RELATED PARTIES TRANSACTIONS Agreements with controlling shareholder and its affiliates: The Company has in effect services agreements with certain companies that are affiliated with Formula, Sapiens’ parent company (most recently since December 23, 2014 and thereafter), and Asseco, Sapiens’ ultimate parent company, pursuant to which the Company has received services amounting to approximately $6,005, $8,523 and $14,598, in aggregate for the years ended December 31, 2019, 2020 and 2021. In addition, during the years ended December 31, 2019, 2020 and 2021, the Company purchased from those affiliated companies an aggregate of approximately $194, $267 and $369 of hardware and software. During the years ended December 31, 2019, 2020 and 2021, Asseco provided back office and professional services and fixed assets to the Company subsidiary, Sapiens Software Solutions (Poland) Sp. z o.o in an amount totaling approximately $676, $521 and $197, respectively. As of December 31, 2020, and 2021, the Company had trade payables balances due to its related parties in amount of approximately $1,908 and $3,187, respectively. In addition, as of December 31, 2020 and 2021, the Company had trade receivables balances due from its related parties in amount of approximately $1,241 and $858, respectively.

Basic and Diluted Net Earnings

Basic and Diluted Net Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
BASIC AND DILUTED NET EARNINGS PER SHARE	NOTE 16:- BASIC AND DILUTED NET EARNINGS PER SHARE Year ended December 31, 2019 2020 2021 Numerator (thousands): Net income attributed to Sapiens’ shareholders $ 26,247 $ 33,775 $ 47,171 Denominator (thousands): Denominator for basic earnings per share - weighted average number of common shares, net of treasury stock 50,031 51,208 54,785 Stock options and RSU 622 951 805 Denominator for diluted net earnings per share - adjusted weighted average number of shares 50,653 52,159 55,590 The weighted average number of shares related to outstanding anti-dilutive options excluded from the calculations of diluted net earnings per share was 0, 200,000 and 804,438 for the years 2019, 2020 and 2021, respectively.

Geographic Information

Geographic Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION	NOTE 17:- GEOGRAPHIC INFORMATION a. The Company operates in a single reportable segment as a provider of software solutions. See Note 1 for a brief description of the Company’s business. The data below is presented in accordance with ASC 280, “Segment Reporting”. b. Geographic information: The following table sets forth revenues by country based on the billing address of the customer. Other than as shown below, no other country accounted for more than 10% of the Company’s revenues during the years ended December 31, 2019, 2020 and 2021. Year ended 2019 2020 2021 1. Revenues: North America *) $ 163,565 $ 187,258 $ 188,980 Europe **) 133,851 172,660 237,054 Rest of the world 28,258 22,985 35,001 $ 325,674 $ 382,903 $ 461,035 *) Revenues from North America that are shown in the above table consist of revenues primarily from the United States (in amounts of $163,089, $186,687 and $186,909 during the years ended December 31, 2019, 2020 and 2021, respectively). **) Revenues from Europe include revenues from European Union countries, the United Kingdom, or UK, and Israel. December 31, 2020 2021 2. Long- lived assets, including property and equipment, net and operation right-of-use assets: Israel $ 27,944 $ 22,263 North America 8,245 4,737 APAC 20,871 20,104 Europe 14,300 11,019 $ 71,360 $ 58,123 c. Major customer data: For the years ended December 31, 2019, 2020 and 2021, no single customer contributed more than 10% to the Company’s total revenues.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	NOTE 18:- REVENUE Remaining performance obligations represent contract revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. The aggregate amount of consideration allocated to performance obligations either not satisfied or partially unsatisfied was approximately $182 million as of December 31, 2021. The Company expects to recognize approximately 79% in 2022 from remaining performance obligations as of December 31, 2021, and the remainder thereafter . Disaggregation of revenue The following table provides information about disaggregated revenue by type of contract, and timing of revenue recognition (in thousands): Years ended 2020 2021 Project implementation phase: Revenues from pre-production implementation projects $ 142,247 $ 178,419 Revenues from post-production implementation projects 240,656 282,616 Total $ 382,903 $ 461,035 Contract balances: The following table provides information about trade receivables, unbilled receivables, contract assets and contract liabilities (deferred revenues) from contracts with customers (in thousands): December 31, 2020 2021 Trade receivables (net of allowance for credit losses of $1,558 and $1,337 on December 31, 2020 and 2021, respectively) 48,623 53,985 Short-term unbilled receivables *) 9,301 16,072 Long-term unbilled receivables *) 772 858 Contract assets **) 7,485 6,988 Deferred revenues (short-term contract liabilities) 34,548 39,614 Long-term deferred revenues (long-term contract liabilities) ***) 524 299 *) Unbilled receivables relate to revenue recognized in excess of amounts invoiced as the Company has an unconditional right to invoice and receive payment in the future related to its fulfilled obligations. **) Contract assets relate to unbilled receivables (including a long-term balance of $784 presented in other long-term assets as of December 31, 2021), which represent revenue recognized on arrangements for which billings have not yet been presented to customers because the amounts were earned but not contractually billable as of the balance sheet date, and the right to consideration is generally subject to milestone completion, client acceptance or factors other than the passage of time. ***) Included in other long-term liabilities in the consolidated balance sheets. No impairment loss was recognized in respect of the Company’s outstanding contract assets during the years ended December 31, 2020 and 2021. During the year ended December 31, 2021, the Company recognized $33,030 that was included in deferred revenues (short-term contract liability) balance on December 31, 2020.

Selected Statements of Operatio

Selected Statements of Operations Data	12 Months Ended
	Dec. 31, 2021
Selected Statements of Operations Data [Abstract]
SELECTED STATEMENTS OF OPERATIONS DATA	NOTE 19:- SELECTED STATEMENTS OF OPERATIONS DATA a. Research and development expenses, net: Year ended 2019 2020 2021 Total costs $ 43,043 $ 47,156 $ 61,924 Less - capitalized software development costs (5,665 ) (5,798 ) (7,911 ) Research and development expenses, net $ 37,378 $ 41,358 $ 54,013 b. Financial expense, net Year ended 2019 2020 2021 Financial income: Interest $ 382 $ 380 $ 887 Foreign currency translation 991 1,312 1,413 Derivatives gains, net 535 104 3,338 1,908 1,796 5,638 Financial expenses: Foreign currency translation, bank charges and other 1,646 1,299 2,046 Interest 3,030 4,302 3,794 (4,676 ) (5,601 ) (5,840 ) Financial expense, net $ (2,768 ) $ (3,805 ) $ (202 )

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Use of estimates:	a. Use of estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Such management estimates and assumptions are related, but not limited to contingent liabilities, income tax uncertainties, deferred taxes assets, share-based compensation, value of intangible assets and goodwill, as well as the determination of revenue recognition from contracts accounted for based on the estimate of percentage of completion. The Company’s management believes that the estimates, judgment and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Financial statements in United States dollars:	b. Financial statements in United States dollars: The currency of the primary economic environment in which the operations of Sapiens and certain subsidiaries are conducted is the U.S. dollar (“dollar”); thus, the dollar is the functional currency of Sapiens and certain subsidiaries. Sapiens and certain subsidiaries’ transactions and balances denominated in dollars are presented at their original amounts. Non-dollar transactions and balances have been remeasured to dollars in accordance with ASC 830, “Foreign Currency Matters”. All transaction gains and losses from remeasurement of monetary balance sheet items denominated in non-dollar currencies are reflected in the statements of income as financial income or expenses, as appropriate. For those subsidiaries, whose functional currency has been determined to be their local currency, assets and liabilities are translated at year-end exchange rates and statement of income items are translated at average exchange rates prevailing during the year. Such translation adjustments are recorded as a separate component of accumulated other comprehensive income (loss) in equity.
Principles of consolidation:	c. Principles of consolidation: The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All intercompany balances and transactions have been eliminated upon consolidation. Non-controlling interests of subsidiaries represent the non-controlling shareholders’ share of the total comprehensive income (loss) of the subsidiaries and fair value of the net assets upon the acquisition of the subsidiaries. The non-controlling interests are presented in equity separately from the equity attributable to the equity holders of the Company.
Cash equivalents:	d. Cash equivalents: Cash equivalents are short-term highly liquid investments that are readily convertible to cash, with original maturities of three months or less at the date acquired.
Short-term bank deposits:	e. Short-term bank deposits: Short-term bank deposits with original maturities of more than three months and less than one year at the date acquired are included in short-term bank deposits.
Trade receivables:	f. Trade receivables: Trade receivables are stated net of credit losses allowance. The Company maintains the allowance for estimated losses resulting from the inability of the Company’s customers to make required payments. The allowance represents the current estimate of lifetime expected credit losses over the remaining duration of existing accounts receivable considering current market conditions and supportable forecasts when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses, and future expectations. Write-off activity and recoveries for the periods presented were not material. Estimated credit loss allowance is recorded as general and administrative expenses on the Company’s consolidated statements of income. The following table presents trade receivables net of an allowance as of December 31, 2020 and 2021: December 31, 2020 2021 Trade receivables $ 50,181 $ 55,322 Allowance for credit losses (1,558 ) (1,337 ) $ 48,623 $ 53,985
Property and equipment, net:	g. Property and equipment, net: Property and equipment are stated at cost, net of accumulated depreciation using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers and peripheral equipment 20 - 33 Office furniture and equipment 6 - 33 Buildings 2.5 Leasehold improvements are amortized using the straight-line method over the term of the lease (including option terms that are deemed to be reasonably assured) or the estimated useful life of the improvements, whichever is shorter.
Leases:	h. Leases: The Company determines if an arrangement is a lease at inception. The Company’s assessment is based on: (1) whether the contract involves the use of an identified asset, (2) whether the Company obtains the right to substantially all of the economic benefits from the use of the asset throughout the period of use, and (3) whether the Company has the right to direct the use of the asset. Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: the lease transfers ownership of the asset by the end of the lease term, the lease contains an option to purchase the asset that is reasonably certain to be exercised, the lease term is for a major part of the remaining useful life of the asset, the present value of the lease payments equals or exceeds substantially all of the fair value of the asset, or the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of lease term. A lease is classified as an operating lease if it does not meet any one of these criteria. Since all of the Company’s lease contracts do not meet any one of the criteria above, the Company concluded that all of its lease contracts should be classified as operation leases. For lease with terms greater than 12 months, ROU assets and liabilities are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate (“IBR”) based on the information available on the commencement date in determining the present value of lease payments. The Company’s IBR is estimated to approximate the interest rate for collateralized borrowing with similar terms and payments and in economic environments where the leased asset is located. Certain leases include options to extend or terminate the lease. The ROU asset also includes any lease payments made prior to commencement and is recorded net of any lease incentives received. Moreover, the ROU asset may also include initial direct costs, which are incremental costs of a lease that would not have been incurred if the lease had not been obtained.
Research and development costs:	i. Research and development costs: Research and development costs incurred in the process of software production before establishment of technological feasibility are charged to expenses as incurred. Certain internal and external costs incurred to develop software to be sold are capitalized after technological feasibility is established in accordance with ASC 985-20, “Software - Costs of Software to be Sold Leased or Marketed”. Based on the Company’s product development process, technological feasibility is established upon completion of a detailed program design. Costs incurred by the Company between completion of the detailed program design and the point at which the product is ready for general release, have been capitalized. Capitalized software development costs are amortized by the straight-line method over the estimated useful life of the software products (primarily seven years).
Business combinations:	j. Business combinations: The Company accounts for its business acquisitions in accordance with Accounting Standards Codification ASC No. 805, “Business Combinations”. The Company uses its best estimates and assumptions as part of the purchase price allocation process to value assets acquired and liabilities assumed at the business combination date. The total purchase price allocated to the tangible assets, liabilities assumed and intangible assets acquired is assigned based on their fair values as of the date of the acquisition. The excess of the fair value of the purchase price over the fair value of these identifiable assets and liabilities is recorded as goodwill. Goodwill generated from the business combinations is primarily attributable to synergies between the Company and acquired companies’ respective products and services. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred. The Company accounts for a transaction that does not meet the definition of a business as an asset acquisition Under ASU No. 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business (“2017-01”), while first determine whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the single asset or group of assets, as applicable, is not a business.
Other intangible assets, net:	k. Other intangible assets, net: Technology and patents acquired are amortized over their estimated useful life on a straight-line basis. The acquired customer relationships are amortized over their estimated useful lives in proportion to the economic benefits realized method. The average annual rates for other intangible assets are as follows: % Technology 13 - 50 Customer relationships 7 - 15 Patent 10
Goodwill:	l. Goodwill: Goodwill represents the excess of the purchase price in a business combination over the fair value of the identifiable tangible and intangible assets acquired. Under ASC 350, “Intangibles- Goodwill and Other” (“ASC 350”), goodwill is subject to an annual impairment test at least annually or more frequently if impairment indicators are present. Goodwill impairment is required if the net book value of a reporting unit exceeds its estimated fair value. The Company operates in four reporting units: L&P (Life & Pension), P&C (Property & Casualty), Decision and IPELS (Israel, Poland, Emerge, Latvia, Spain). For the years ended December 31, 2019, 2020 and 2021, no impairment of goodwill has been recorded.
Impairment of long-lived assets:	m. Impairment of long-lived assets: The Company’s long-lived assets and identifiable intangibles including right-of-use assets that are subject to amortization are reviewed for impairment in accordance with ASC 360 “Property, Plant, and Equipment”, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. ASC 360 provides examples of events or changes in circumstances that might indicate that impairment exists for a particular long-lived asset or asset group. Among those events and circumstances that the Company believes to be impairment indicators are: - A significant decrease in the market price of a long-lived asset (asset group) - A significant adverse change in the extent or manner in which a long-lived asset (asset group) is being used or in its physical condition The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During 2019, no impairment losses have been identified. During 2021 and 2020, the Company identified an impairment loss of $1,439 and $351, respectively, as outlined in Note 6.
Revenue recognition:	n. Revenue recognition: The Company implements the provisions of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). See Note 18 for further disclosures. Revenues are recognized when control of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company generates revenues mainly from sales of software licenses which include significant implementation and customization services. In addition, the Company generates revenues from post implementation consulting services and maintenance services. Revenues from these contracts are based on either fixed price or time and material. Revenue from long term contracts which involve significant implementation, customization, or integration of the Company’s software license to customer-specific requirements are considered as one performance obligation satisfied over-time. The underlying deliverable is owned and controlled by the customer and does not create an asset with an alternative use to the Company. In addition, the Company has enforceable right to payment for performance completed to date. Accordingly, the Company recognizes revenue on such contracts over time, using the percentage of completion accounting method. The Company recognizes revenue and gross profit as the work is performed, based on a ratio between actual costs incurred compared to the total estimated costs for the contract. Determining the projected labor costs requires understanding the project-specific circumstances, including the specific terms and conditions of each complex contract, changes to the project schedule, and complexity of the project. Provisions for estimated losses on uncompleted contracts are made during the period in which such losses become probable, in the amount of the estimated loss on the entire contract. When post implementation and consulting services do not involve significant customization, the Company accounts for such services as performance obligations satisfied over time and revenues are recognized as the services are provided. When the Company enters into a contract for the sale of software license which does not require significant implementation services, and the customer receives the rights to use the perpetual or term-based software license, the Company recognizes revenue from the sale of the software license at the time of delivery, when the customer receives control of the software license. The software license is considered a distinct performance obligation recognized at a point-in-time, as the customer can benefit from the software on its own or together with other readily available resources. The Company allocates the transaction price for each contract to each performance obligation identified in the contract based on the relative standalone selling price (SSP). The Company determines SSP for the purposes of allocating the transaction price to each performance obligation by considering several external and internal factors including, but not limited to, transactions where the specific performance obligation is sold separately, historical actual pricing practices and geographies in which the Company offers its services. If a specific performance obligation, such as the software license, is sold for a broad range of amounts (that is, the selling price is highly variable) or if the Company has not yet established a price for that good or service, and the good or service has not previously been sold on a standalone basis (that is, the selling price is uncertain), the Company applies the residual approach whereby all other performance obligations within a contract are first allocated a portion of the transaction price based upon their respective SSPs with any residual amount of transaction price allocated to the remaining specific performance obligation. In addition to software license fees, contracts with customers may contain an agreement to provide for maintenance services. The Company considers the maintenance performance obligation as a distinct performance obligation that is satisfied over time and recognized on a straight-line basis over the contractual period. Sales commissions are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions paid for initial contracts, which are not commensurate with sales commissions paid for renewal contracts, are capitalized and amortized over an expected period of benefit. Sales commissions on initial contracts, which are commensurate with sales commissions paid for renewal contracts, are capitalized and then amortized correspondingly to the recognized revenue of the related initial contracts. Sales commissions for renewal contracts are capitalized and then amortized on a straight-line basis over the related contractual renewal period. If the expected amortization period is one-year or less, th e Amortization expense related to these costs are included in sales, marketing, general and administrative expenses.
Income taxes:	o. Income taxes: The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. This topic prescribes the use of the asset and liability method, whereby deferred tax asset and liability account balances are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to the amounts that are more likely-than-not to be realized. The Company implements a two-step approach to recognize and measure uncertain tax positions. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% (cumulative basis) likely to be realized upon ultimate settlement. The Company classifies interest as financial expense and penalties as selling, marketing, general and administrative expenses.
Concentrations of credit risks:	p. Concentrations of credit risks: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, trade receivables, unbilled receivables and contract assets, and foreign currency derivative contracts. The Company’s cash and cash equivalents and short-term bank deposit are invested in bank deposits mainly in dollars and NIS. Deposits in the U.S. may be in excess of insured limits and are not insured in other jurisdictions. Generally, these banks deposits may be redeemed upon demand and therefore bear minimal risk. The Company’s trade receivables are generally derived from sales to large and solid organizations located mainly in North America, Europe and the rest of the world. The Company performs ongoing credit evaluations of its customers and to date has not experienced any material losses. In certain circumstances, the Company may require prepayment. The Company entered into forward contracts, and option contracts intended to protect against the increase in value of forecasted non-dollar currency cash flows. The derivative instruments hedge a portion of the Company’s non-dollar currency exposure. No off-balance sheet concentrations of credit risk exist.
Accrued severance pay and retirement plans:	q. Accrued severance pay and retirement plans: The Company’s liability for severance pay for its Israeli employees is calculated pursuant to Israel’s Severance Pay Law based on the most recent monthly salary of the employees multiplied by the number of years of employment as of the balance sheet date. Employees are entitled to one month’s salary for each year of employment, or a portion thereof. The Company’s liability is fully provided by monthly deposits with insurance policies and severance pay funds and by an accrual. The deposited funds include profits (losses) accumulated up to the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligation pursuant to Israel’s Severance Pay Law or employment agreements. The value of the deposited funds is based on the cash surrendered value of these policies and recorded as an asset in the Company’s consolidated balance sheet. In addition, the Company signed a collective agreement with certain employees, according to which the Company’s contributions for severance pay shall be in lieu of severance compensation and that upon release of the policy to the employee, no additional payments shall be made by the Company to the employee. Generally, the Company, under its sole discretion, pays to these employees the entire liability, irrespective of the collective agreement described per above. Therefore, the net obligation related to those employees is stated on the balance sheet as accrued severance pay. The Company’s agreements with certain employees in Israel are in accordance with Section 14 of the Severance Pay Law, whereas, the Company’s contributions for severance pay shall be in lieu of its severance liability. Upon contribution of the full amount of the employee’s monthly salary, and release of the policy to the employee, no additional calculations shall be conducted between the parties regarding the matter to severance pay and no additional payments shall be made by the Company to the employee. Further, the related obligation and amounts deposited on behalf of such obligation are not stated on the balance sheet, as they are legally released from obligation to employees once the deposit amounts have been paid. Severance expense for the years 2019, 2020 and 2021 amounted to $3,718, $4,020 and $4,538, respectively. The Company has a 401(k) retirement savings plan for most of its U.S. employees. Each eligible employee may elect to contribute a portion of its employee’s compensation to the plan. The Company has a discretionary employer match. In the reporting periods, this match ranges from 2-3% if an employee contributed 6%. Such 401(k) employer match expense for the year 2019, 2020 and 2021 amounted to $1,144, $1,233 and $1,282, respectively.
Basic and diluted net earnings per share:	r. Basic and diluted net earnings per share: Basic net earnings per share are computed based on the weighted average number of common shares outstanding during each year. Diluted net earnings per share are computed based on the weighted average number of common shares outstanding during each year plus dilutive potential equivalent common shares considered outstanding during the year, in accordance with ASC 260, “Earnings Per Share”.
Stock-based compensation:	s. Stock-based compensation: The Company accounts for stock-based compensation in accordance with ASC 718, “Compensation - Stock Compensation” (“ASC 718”), which requires the measurement and recognition of compensation expense based on estimated fair values for all share-based payment awards made. ASC 718 requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model. The Company uses the Binomial Lattice (“Binomial model”) option-pricing model to estimate the fair value for any options granted. The Binomial model takes into account variables such as volatility, dividend yield rate, and risk-free interest rate and also allows for the use of dynamic assumptions and considers the contractual term of the option, and the probability that the option will be exercised prior to the end of its contractual life. The Company recognizes forfeitures of equity-based awards as they occur. Stock-based compensation cost is measured at the grant date, based on the fair value of the award. The Company recognizes compensation expense for the value of its awards, which have graded vesting, on a straight-line basis when the only condition to vesting is continued service. If vesting is subject to a performance condition, recognition is based on the implicit service period of the award. Expense for awards with performance conditions is estimated and adjusted on a quarterly basis based upon the assessment of the probability that the performance condition will be met. The fair value of each option granted in 2019, 2020 and 2021 using the Binomial model, was estimated on the date of grant with the following assumptions: Year ended December 31, 2019 2020 2021 Contractual life 6 years 6 years 6 years Expected exercise factor 2-2.8 2-2.8 2-2.8 Dividend yield 0% 0% 0% Expected volatility (weighted average) 30.5%-30.9% 31.0%-35.2% 36.3%-36.9% Risk-free interest rate 1.6%-2.6% 0.4%-1.8% 0.5%-1.3% The risk-free interest rate assumption is based on the yield from U.S. Treasury zero-coupon bonds with an equivalent term as of the Company’s employee stock options. Since dividend payment is applied to reduce the exercise price of the option, the effect of the dividend protection is reflected by using an expected dividend assumption of zero. The expected life of options granted is derived from the output of the option valuation model and represents the period of time the options are expected to be outstanding. The expected exercise factor is based on industry acceptable rates since no actual historical behavior by option holders exists. Expected volatility is based on the historical volatility of the Company.
Fair value of financial instruments:	t. Fair value of financial instruments: ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”), defines fair value as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches. ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Include other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs which are supported by little or no market activity. The Company measures its foreign currency derivative instruments at fair value. Foreign currency derivative contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments. The carrying amounts of cash and cash equivalents, short-term bank deposit, trade receivables, other receivables and prepaid expenses and accounts payable approximate fair value due to the short-term maturities of such instruments. The following table presents liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2021: December 31, 2020 2021 Fair value measurement Other receivables and prepaid expenses: Derivative instruments $ - $ 188 Total Assets $ - $ 188 Accrued expenses and other liabilities: Derivative instruments $ (707 ) $ - Current maturities of Series B Debentures $ (19,796 ) $ (19,796 ) Series B Debentures, net of current maturities $ (98,676 ) $ (78,986 ) Total liabilities $ (119,179 ) $ (98,782 )
Derivatives and hedging:	u. Derivatives and hedging: The Company enters into option contracts and forward contracts to hedge certain transactions denominated in foreign currencies. The purpose of the Company’s foreign currency hedging activities is to protect the Company from risk that the eventual dollar cash flows from international activities will be adversely affected by changes in the exchange rates. The Company’s option and forward contracts do not qualify as hedging instruments under ASC 815, “Derivatives and hedging”. Changes in the fair value of option strategies are reflected in the consolidated statements of income as financial income or expense. In 2019, 2020 and 2021, the Company entered into option contracts in the notional amounts of $24,296, $1,650 and $27,138, respectively, and in 2019, 2020 and 2021 the Company entered into forward contracts in the aggregate notional amounts of $74,297, $260,862 and $140,688, respectively, in order to protect against foreign currency fluctuations. As of December 31, 2019, 2020 and 2021, the Company had outstanding options and forward contracts, in the notional amount of $15,384, $3,866 and $20,000, respectively. In 2019, 2020 and 2021, the Company recorded financial income, net of $535, $104 and $3,338 respectively, with respect to the above transactions, presented in the statements of income as part of financial expenses, net.
Treasury shares:	v. Treasury shares: Repurchased common shares are held as treasury shares. The Company presents the cost to repurchase treasury stock as a reduction of shareholders’ equity.
Comprehensive income (loss):	w. Comprehensive income (loss): The Company accounts for comprehensive income (loss) in accordance with ASC 220, “Comprehensive Income”. Comprehensive income (loss) generally represents all changes in shareholders’ equity during the period except those resulting from investments by, or distributions to, shareholders.
Recently issued accounting pronouncements:	x. Recently issued accounting pronouncements: In October 2021, the FASB issued ASU 2021-08 “Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. The guidance will result in the acquirer recognizing contract assets and contract liabilities at the same amounts recorded by the acquiree. The guidance should be applied prospectively to acquisitions occurring on or after the effective date. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements. In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance (ASU 2021-10), which improves the transparency of government assistance received by most business entities by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity’s financial statements. This guidance is effective for financial statements issued for annual periods beginning after 15 December 2021. Early adoption is permitted. The impact of this ASU on the Company’s consolidated financial statements is expected to be immaterial.

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of trade receivables net of an allowance	December 31, 2020 2021 Trade receivables $ 50,181 $ 55,322 Allowance for credit losses (1,558 ) (1,337 ) $ 48,623 $ 53,985
Schedule of property plant and equipment useful life	% Computers and peripheral equipment 20 - 33 Office furniture and equipment 6 - 33 Buildings 2.5
Schedule of weighted average annual rates for other intangible assets	% Technology 13 - 50 Customer relationships 7 - 15 Patent 10
Schedule of fair value of each option granted	Year ended December 31, 2019 2020 2021 Contractual life 6 years 6 years 6 years Expected exercise factor 2-2.8 2-2.8 2-2.8 Dividend yield 0% 0% 0% Expected volatility (weighted average) 30.5%-30.9% 31.0%-35.2% 36.3%-36.9% Risk-free interest rate 1.6%-2.6% 0.4%-1.8% 0.5%-1.3%
Schedule of liabilities measured at fair value	December 31, 2020 2021 Fair value measurement Other receivables and prepaid expenses: Derivative instruments $ - $ 188 Total Assets $ - $ 188 Accrued expenses and other liabilities: Derivative instruments $ (707 ) $ - Current maturities of Series B Debentures $ (19,796 ) $ (19,796 ) Series B Debentures, net of current maturities $ (98,676 ) $ (78,986 ) Total liabilities $ (119,179 ) $ (98,782 )

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
Schedule of estimated fair values of the assets acquired and liabilities	Current assets (including cash of $2,292) $ 6,337 Goodwill 58,120 Intangible assets 29,946 Other long-term assets 4,254 Total assets acquired $ 98,657 Current liabilities $ 4,800 Deferred revenues 5,742 Deferred tax liabilities 6,962 Other long-term liabilities 5,877 Total liabilities acquired $ 23,381 Net assets acquired $ 75,276
Schedule of components of intangible assets associated with acquisition	Fair value Developed technology $ 10,517 Customer relationships 19,266 Backlog 163 Total intangible assets $ 29,946
Schedule of assets and liabilities based upon fair values as determined	Net assets (including cash of $ 981) $ 1,447 Intangible assets 9,730 Deferred tax liabilities (3,211 ) Goodwill 14,521 Net assets acquired $ 22,487 Net liabilities (including cash of $ 6,265) $ (524 ) Intangible assets 7,562 Deferred tax liabilities, net (2,313 ) Goodwill 14,875 Net assets acquired $ 19,600

Other Long-Term Assets (Tables)

Other Long-Term Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Other Long Term Assets Disclosure [Abstract]
Schedule of other long-term assets	December 31, 2020 2021 Deferred tax assets $ 1,870 $ 3,122 Long-term unbilled receivables 772 1,642 Rent deposits 2,132 2,077 Other 490 447 $ 5,264 $ 7,288

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	December 31, 2020 2021 Cost: Computers and peripheral equipment $ 43,426 $ 45,290 Office furniture and equipment 10,435 9,212 Buildings and leasehold improvements 10,481 9,210 64,342 63,712 Accumulated depreciation: Computers and peripheral equipment 37,407 38,770 Office furniture and equipment 5,697 5,741 Buildings and leasehold improvements 4,268 4,743 47,372 49,254 Depreciated cost $ 16,970 $ 14,458

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of operating lease costs	Year ended December 31, 2020 2021 Operating lease cost $ 8,144 $ 7,946 Variable lease cost 4,150 4,241 Short-term lease cost 422 373 Total lease costs $ 12,716 $ 12,560
Schedule of weighted average remaining lease terms and discount rates	December 31, 2021 Weighted average remaining lease term (years) 6.26 Weighted average discount rate 4.77 %
Schedule of maturities of lease liabilities	2022 $ 11,115 2023 10,226 2024 7,953 2025 7,205 2026 6,726 2027 and thereafter 14,923 Total undiscounted cash flows 58,148 Less imputed interest 8,570 Present value of lease liabilities $ 49,578

Capitalized Software Developm_2

Capitalized Software Development Costs, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Research and Development [Abstract]
Schedule of changes in capitalized software development costs	Year ended 2020 2021 Balance at the beginning of the year $ 23,953 $ 24,362 Capitalization 5,798 7,911 Amortization (6,558 ) (7,679 ) Functional currency translation adjustments 1,169 609 Balance at year end $ 24,362 $ 25,203

Other Intangible Assets, Net (T

Other Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Other Intangible Assets, Net [Abstract]
Schedule of other intangible assets, net	Weighted December 31, 2020 2021 Original amounts: Customer relationships 7.6 $ 59,482 $ 57,317 Technology 4.0 70,813 70,123 Patent 2.5 1,493 1,544 131,788 128,984 Accumulated amortization: Customer relationships 18,827 23,940 Technology 37,050 46,960 Patent 958 1,145 56,835 72,045 Other intangible assets, net $ 74,953 $ 56,939
Schedule of other Intangible assets future amortization expense	2022 $ 12,374 2023 11,760 2024 8,853 2025 6,621 2026 and thereafter 17,331 $ 56,939

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill [Abstract]
Schedule of carrying amount of goodwill	Year ended 2020 2021 Balance at the beginning of the year $ 170,703 $ 264,282 Acquisitions 87,438 593 Functional currency translation adjustments 6,141 (3,734 ) Balance at year end $ 264,282 $ 261,141

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Accrued Expenses and Other Liabilities [Abstract]
Schedule of accrued expenses and other liabilities	December 31, 2020 2021 Government authorities $ 10,348 $ 7,010 Accrued expenses and other liabilities 24,277 26,038 $ 34,625 $ 33,048

Series B Debentures, Net of C_2

Series B Debentures, Net of Current Maturities (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of Series B Debentures, Net of Current Maturities [Abstract]
Schedule of series B debentures, net of current maturities	December 31, 2020 2021 Series B Debentures $ 118,778 $ 98,982 Less: Current maturities (19,796 ) (19,796 ) Less: Unamortized debt discounts and issuance costs (306 ) (200 ) $ 98,676 $ 78,986

Taxes on Income (Tables)

Taxes on Income (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	December 31, 2020 2021 Deferred tax assets: Net operating losses carryforwards $ 8,701 $ *) 7,142 Research and development 1,514 1,316 Lease liability 9,441 8,725 Reserves and allowances 5,523 5,119 Other 2,041 3,38 3 Deferred tax assets before valuation allowance 27,220 25,685 Valuation allowance (8,057 ) (5,104 ) Deferred tax assets 19,163 20,581 Deferred tax liabilities: Capitalized software development costs (3,428 ) (3,045 ) Lease right-of-use asset (9,441 ) (8,098 ) Acquired intangibles (17,498 ) (13,169 ) Property and equipment (380 ) (367 ) Undistributed earnings (1,302 ) **) (8,047 ) Other (1,254 ) (93 ) Deferred tax liabilities (33,303 ) (32,819 ) Deferred tax liabilities, net $ (14,140 ) $ (12,238 ) December 31, 2020 2021 Deferred tax assets, net $ 1,870 $ 3,122 Deferred tax liabilities, net (16,010 ) (15,360 ) Deferred tax liabilities, net $ (14,140 ) $ (12,238 )
Schedule of income before income taxes	Year ended 2019 2020 2021 Domestic (Israel) $ 34,303 $ 34,037 $ 39,248 Foreign 798 7,161 18,038 $ 35,101 $ 41,198 $ 57,286
Schedule of effective income tax rate reconciliation	Year ended December 31, 2019 2020 2021 Income before taxes on income, as reported in the statements of income $ 35,101 $ 41,198 $ 57,286 Statutory tax rate in Israel 23 % 23 % 23 % Theoretical taxes on income $ 8,073 $ 9,476 $ 13,176 Increase (decrease) in taxes resulting from: Foreign and preferred enterprise tax rates differences (2,326 ) (5,511 ) (7,338 ) Changes in carry forward tax losses and other temporary differences for which valuation allowance was provided 783 558 (1,645 ) Non-deductible expenses 549 1,722 1,437 Increase in uncertain tax positions, net 1,889 755 616 Release of trapped earnings (see note 13.a.2) - - 3,531 Others (358 ) 41 187 Taxes on income, as reported in the statements of income $ 8,610 $ 7,041 $ 9,964
Schedule of taxes on income	Year ended 2019 2020 2021 Current $ 14,733 $ 7,543 $ 11,866 Deferred (6,123 ) (502 ) (1,902 ) $ 8,610 $ 7,041 $ 9,964 Year ended 2019 2020 2021 Domestic (Israel) $ 3,639 $ 3,695 $ 9,086 Foreign 4,971 3,346 878 $ 8,610 $ 7,041 $ 9,964
Schedule of unrecognized tax benefits	December 31, 2020 2021 Balance at the beginning of the year $ 5,835 $ 7,646 Acquisition of subsidiaries 1,057 - Increase in tax positions 2,487 2,731 Decrease in tax positions (1,733 ) (1,457 ) Balance at the end of the year $ 7,646 $ 8,920

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of stock option activities	Year ended December 31, 2021 Amount of Weighted Weighted Aggregate Outstanding on January 1, 2021 1,462,482 14.26 3.17 $ 24,019 Granted 847,000 30.36 Exercised (359,859 ) 10.32 Expired and forfeited (114,238 ) 12.69 Outstanding on December 31, 2021 1,835,385 22.27 3.77 22,374 Vested and expected to vest 1,835,385 22.27 3.77 22,374 Exercisable on December 31, 2021 734,969 12.95 2.10 $ 15,064
Schedule of options outstanding under stock option plans	Weighted Weighted Average Options Average Weighted Options Exercise outstanding remaining average Exercisable price of as of contractual exercise as of Options December 31, Term price December 31, Exercisable Ranges of exercise price 2021 (Years) $ 2021 $ 7.94 3,750 2.35 7.94 - - 8.7-10.72 597,969 1.82 10.64 564,969 10.66 11.48-15.09 109,166 2.28 12.51 67,500 12.17 23.92-28.49 297,500 4.56 25.97 82,500 24.77 29.81-32.27 730,000 4.98 30.17 20,000 31.59 34.96 97,000 5.92 34.69 - - 1,835,385 3.77 22.27 734,696 12.95
Schedule of restricted stock unit activities	Amount of options Weighted Average Grant-Date Fair Value Unvested on January 1, 2021 238,005 24.45 Granted 74,222 29.96 Vested (43,451 ) 24.45 Expired and forfeited (65,020 ) 24.47 Unvested on December 31, 2021 203,756 26.46

Basic and Diluted Net Earning_2

Basic and Diluted Net Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	Year ended December 31, 2019 2020 2021 Numerator (thousands): Net income attributed to Sapiens’ shareholders $ 26,247 $ 33,775 $ 47,171 Denominator (thousands): Denominator for basic earnings per share - weighted average number of common shares, net of treasury stock 50,031 51,208 54,785 Stock options and RSU 622 951 805 Denominator for diluted net earnings per share - adjusted weighted average number of shares 50,653 52,159 55,590

Geographic Information (Tables)

Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of revenues by country based	Year ended 2019 2020 2021 1. Revenues: North America *) $ 163,565 $ 187,258 $ 188,980 Europe **) 133,851 172,660 237,054 Rest of the world 28,258 22,985 35,001 $ 325,674 $ 382,903 $ 461,035
Schedule of property and equipment	December 31, 2020 2021 2. Long- lived assets, including property and equipment, net and operation right-of-use assets: Israel $ 27,944 $ 22,263 North America 8,245 4,737 APAC 20,871 20,104 Europe 14,300 11,019 $ 71,360 $ 58,123

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of disaggregated revenue	Years ended 2020 2021 Project implementation phase: Revenues from pre-production implementation projects $ 142,247 $ 178,419 Revenues from post-production implementation projects 240,656 282,616 Total $ 382,903 $ 461,035
Schedule of trade receivables, unbilled receivables, contract assets and contract liabilities	December 31, 2020 2021 Trade receivables (net of allowance for credit losses of $1,558 and $1,337 on December 31, 2020 and 2021, respectively) 48,623 53,985 Short-term unbilled receivables *) 9,301 16,072 Long-term unbilled receivables *) 772 858 Contract assets **) 7,485 6,988 Deferred revenues (short-term contract liabilities) 34,548 39,614 Long-term deferred revenues (long-term contract liabilities) ***) 524 299 *) Unbilled receivables relate to revenue recognized in excess of amounts invoiced as the Company has an unconditional right to invoice and receive payment in the future related to its fulfilled obligations. **) Contract assets relate to unbilled receivables (including a long-term balance of $784 presented in other long-term assets as of December 31, 2021), which represent revenue recognized on arrangements for which billings have not yet been presented to customers because the amounts were earned but not contractually billable as of the balance sheet date, and the right to consideration is generally subject to milestone completion, client acceptance or factors other than the passage of time. ***) Included in other long-term liabilities in the consolidated balance sheets.

Selected Statements of Operat_2

Selected Statements of Operations Data (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of Selected Statements of Operations Data [Abstract]
Schedule of research and development expenses, net	Year ended 2019 2020 2021 Total costs $ 43,043 $ 47,156 $ 61,924 Less - capitalized software development costs (5,665 ) (5,798 ) (7,911 ) Research and development expenses, net $ 37,378 $ 41,358 $ 54,013
Schedule of financial income, net	Year ended 2019 2020 2021 Financial income: Interest $ 382 $ 380 $ 887 Foreign currency translation 991 1,312 1,413 Derivatives gains, net 535 104 3,338 1,908 1,796 5,638 Financial expenses: Foreign currency translation, bank charges and other 1,646 1,299 2,046 Interest 3,030 4,302 3,794 (4,676 ) (5,601 ) (5,840 ) Financial expense, net $ (2,768 ) $ (3,805 ) $ (202 )

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Significant Accounting Policies (Details) [Line Items]
Impairment loss	$ 1,439	$ 351
Severance expense	$ 4,538,000	4,020,000	$ 3,718,000
Retirement savings plan, description	The Company has a 401(k) retirement savings plan for most of its U.S. employees. Each eligible employee may elect to contribute a portion of its employee’s compensation to the plan. The Company has a discretionary employer match. In the reporting periods, this match ranges from 2-3% if an employee contributed 6%.
Employer match expense	$ 1,282,000	1,233,000	1,144,000
Notional amounts	27,138,000	1,650,000	24,296,000
Aggregate notional amounts	140,688,000	260,862,000	74,297,000
Comprehensive income (loss) generally	3,338,000	104,000	535,000
Options and Forward Contracts [Member]
Significant Accounting Policies (Details) [Line Items]
Outstanding option notional amount	$ 20,000,000	$ 3,866,000	$ 15,384,000
Software Development [Member]
Significant Accounting Policies (Details) [Line Items]
Useful life	7 years

Significant Accounting Polici_4

Significant Accounting Policies (Details) - Schedule of trade receivables net of an allowance - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of trade receivables net of an allowance [Abstract]
Trade receivables	$ 55,322	$ 50,181
Allowance for credit losses	(1,337)	(1,558)
Total	$ 53,985	$ 48,623

Significant Accounting Polici_5

Significant Accounting Policies (Details) - Schedule of property plant and equipment useful life	12 Months Ended
	Dec. 31, 2021
Buildings [Member]
Significant Accounting Policies (Details) - Schedule of property plant and equipment useful life [Line Items]
Estimated useful lives of the assets	2.50%
Minimum [Member] | Computers and peripheral equipment [Member]
Significant Accounting Policies (Details) - Schedule of property plant and equipment useful life [Line Items]
Estimated useful lives of the assets	20.00%
Minimum [Member] | Office furniture and equipment [Member]
Significant Accounting Policies (Details) - Schedule of property plant and equipment useful life [Line Items]
Estimated useful lives of the assets	6.00%
Maximum [Member] | Computers and peripheral equipment [Member]
Significant Accounting Policies (Details) - Schedule of property plant and equipment useful life [Line Items]
Estimated useful lives of the assets	33.00%
Maximum [Member] | Office furniture and equipment [Member]
Significant Accounting Policies (Details) - Schedule of property plant and equipment useful life [Line Items]
Estimated useful lives of the assets	33.00%

Significant Accounting Polici_6

Significant Accounting Policies (Details) - Schedule of weighted average annual rates for other intangible assets	12 Months Ended
	Dec. 31, 2021
Patent [Member]
Significant Accounting Policies (Details) - Schedule of weighted average annual rates for other intangible assets [Line Items]
Weighted average annual rate other intangible assets	10.00%
Minimum [Member] | Technology [Member]
Significant Accounting Policies (Details) - Schedule of weighted average annual rates for other intangible assets [Line Items]
Weighted average annual rate other intangible assets	13.00%
Minimum [Member] | Customer relationships [Member]
Significant Accounting Policies (Details) - Schedule of weighted average annual rates for other intangible assets [Line Items]
Weighted average annual rate other intangible assets	7.00%
Maximum [Member] | Technology [Member]
Significant Accounting Policies (Details) - Schedule of weighted average annual rates for other intangible assets [Line Items]
Weighted average annual rate other intangible assets	50.00%
Maximum [Member] | Customer relationships [Member]
Significant Accounting Policies (Details) - Schedule of weighted average annual rates for other intangible assets [Line Items]
Weighted average annual rate other intangible assets	15.00%

Significant Accounting Polici_7

Significant Accounting Policies (Details) - Schedule of fair value of each option granted - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Significant Accounting Policies (Details) - Schedule of fair value of each option granted [Line Items]
Contractual life	6 years	6 years	6 years
Dividend yield	0.00%	0.00%	0.00%
Minimum [Member]
Significant Accounting Policies (Details) - Schedule of fair value of each option granted [Line Items]
Expected exercise factor (in Dollars per share)	$ 2	$ 2	$ 2
Expected volatility (weighted average)	36.30%	31.00%	30.50%
Risk-free interest rate	0.50%	0.40%	1.60%
Maximum [Member]
Significant Accounting Policies (Details) - Schedule of fair value of each option granted [Line Items]
Expected exercise factor (in Dollars per share)	$ 2.8	$ 2.8	$ 2.8
Expected volatility (weighted average)	36.90%	35.20%	30.90%
Risk-free interest rate	1.30%	1.80%	2.60%

Significant Accounting Polici_8

Significant Accounting Policies (Details) - Schedule of liabilities measured at fair value - Fair value measurement using input Level 2 [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Significant Accounting Policies (Details) - Schedule of liabilities measured at fair value [Line Items]
Derivative instruments	$ 188
Total Assets	188
Derivative instruments		(707)
Current maturities of Series B Debentures	(19,796)	(19,796)
Series B Debentures, net of current maturities	(78,986)	(98,676)
Total liabilities	$ (98,782)	$ (119,179)

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Jul. 08, 2021	Jun. 01, 2020	Nov. 30, 2020	Jul. 27, 2020	Apr. 22, 2020	Sep. 27, 2019	Dec. 31, 2021	Jun. 30, 2020
Acquisitions (Details) [Line Items]
Purchase price in cash			$ 76,107	$ 19,600			$ 22,487
Business combination, acquisition related costs			$ 719	$ 299
Working Capital							$ 800
Aggregate of shares issued (in Shares)							173,005
Valued total amount							$ 4,400
Performance-based payments, description						In addition, the sellers and senior executives have performance-based payments relating to achievements of various targets over three years (2019-2021) of up to $1,700.	In addition, sum.cumo’s senior executives have retention-based payments over three years (2020-2023) of up to approximately $2,800. These payments are subject to continued employment, and therefore were not included in the purchase price. Acquisition related costs amounted to $561, and are presented under selling, marketing, general and administrative in the Company’s consolidated statements of income.
Proceeds from loan receive					$ 1,546
Maturity date					Apr. 22, 2022
Interest rate					1.00%
Acquisition of outstanding percentage		75.00%
Addition from acquisition	20.00%
Outstanding shares amount	$ 390
Cash paid						$ 5,608		$ 152
Series of Individually Immaterial Business Acquisitions [Member]
Acquisitions (Details) [Line Items]
Business combination, consideration cash, total		$ 1,281				$ 5,760

Acquisitions (Details) - Schedu

Acquisitions (Details) - Schedule of estimated fair values of the assets acquired and liabilities - StoneRiver [Member] $ in Thousands	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Current assets	$ 6,337
Goodwill	58,120
Intangible assets	29,946
Other long-term assets	4,254
Total assets acquired	98,657
Current liabilities	4,800
Deferred revenues	5,742
Deferred tax liabilities	6,962
Other long-term liabilities	5,877
Total liabilities acquired	23,381
Net assets acquired	$ 75,276

Acquisitions (Details) - Sche_2

Acquisitions (Details) - Schedule of estimated fair values of the assets acquired and liabilities (Parentheticals) $ in Thousands	Dec. 31, 2021USD ($)
StoneRiver [Member]
Business Acquisition [Line Items]
Cash	$ 2,292

Acquisitions (Details) - Sche_3

Acquisitions (Details) - Schedule of components of intangible assets associated with acquisition $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 29,946
Developed technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets	10,517
Customer relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets	19,266
Backlog [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 163

Acquisitions (Details) - Sche_4

Acquisitions (Details) - Schedule of assets and liabilities based upon fair values as determined $ in Thousands	Dec. 31, 2021USD ($)
Acquisitions (Details) - Schedule of assets and liabilities based upon fair values as determined [Line Items]
Net assets (including cash of $ 981)	$ 1,447
Intangible assets	9,730
Deferred tax liabilities	(3,211)
Goodwill	14,521
Net assets acquired	22,487
Delphi Technology Inc. [Member]
Acquisitions (Details) - Schedule of assets and liabilities based upon fair values as determined [Line Items]
Intangible assets	7,562
Deferred tax liabilities	(2,313)
Goodwill	14,875
Net assets acquired	19,600
Net liabilities (including cash of $ 6,265)	$ (524)

Other Long-Term Assets (Details

Other Long-Term Assets (Details) - Schedule of other long-term assets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of other long-term assets [Abstract]
Deferred tax assets	$ 3,122	$ 1,870
Long-term unbilled receivables	1,642	772
Rent deposits	2,077	2,132
Other	447	490
Total other long term assets	$ 7,288	$ 5,264

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation	$ 5,360	$ 4,698	$ 3,470

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of property and equipment, net - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Cost:
Cost	$ 63,712	$ 64,342
Accumulated depreciation:
Accumulated depreciation	49,254	47,372
Depreciated cost	14,458	16,970
Computers and peripheral equipment [Member]
Cost:
Cost	45,290	43,426
Accumulated depreciation:
Accumulated depreciation	38,770	37,407
Office furniture and equipment [Member]
Cost:
Cost	9,212	10,435
Accumulated depreciation:
Accumulated depreciation	5,741	5,697
Buildings and leasehold improvements [Member]
Cost:
Cost	9,210	10,481
Accumulated depreciation:
Accumulated depreciation	$ 4,743	$ 4,268

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease, description	The Company’s leases have original lease periods expiring between 2022 and 2030.
Loss contingency		$ 2,155
Impairment amount	$ 1,439	351
Operating lease liability	$ 10,964	$ 9,886

Leases (Details) - Schedule of

Leases (Details) - Schedule of operating lease costs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of operating lease costs [Abstract]
Operating lease cost	$ 7,946	$ 8,144
Variable lease cost	4,241	4,150
Short-term lease cost	373	422
Total lease costs	$ 12,560	$ 12,716

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of weighted average remaining lease terms and discount rates	Dec. 31, 2021
Schedule of weighted average remaining lease terms and discount rates [Abstract]
Weighted average remaining lease term (years)	6 years 3 months 3 days
Weighted average discount rate	4.77%

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of maturities of lease liabilities $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Schedule of maturities of lease liabilities [Abstract]
2022	$ 11,115
2023	10,226
2024	7,953
2025	7,205
2026	6,726
2027 and thereafter	14,923
Total undiscounted cash flows	58,148
Less imputed interest	8,570
Present value of lease liabilities	$ 49,578

Capitalized Software Developm_3

Capitalized Software Development Costs, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Research and Development [Abstract]
Amortization of capitalized software development costs	$ 7,679	$ 6,558	$ 5,668

Capitalized Software Developm_4

Capitalized Software Development Costs, Net (Details) - Schedule of changes in capitalized software development costs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of changes in capitalized software development costs [Abstract]
Balance at the beginning of the year	$ 24,362	$ 23,953
Capitalization	7,911	5,798
Amortization	(7,679)	(6,558)	$ (5,668)
Functional currency translation adjustments	609	1,169
Balance at year end	$ 25,203	$ 24,362	$ 23,953

Other Intangible Assets, Net (D

Other Intangible Assets, Net (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Intangible Assets, Net [Abstract]
Total consideration	$ 2,810	$ 600
Amortization of Other Intangible Assets			$ 15,630	$ 12,127	$ 10,000

Other Intangible Assets, Net _2

Other Intangible Assets, Net (Details) - Schedule of other intangible assets, net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross	$ 128,984	$ 131,788
Intangible assets, Accumulated amortization	72,045	56,835
Other intangible assets, net	$ 56,939	74,953
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life (years)	7 years 7 months 6 days
Intangible asset, Gross	$ 57,317	59,482
Intangible assets, Accumulated amortization	$ 23,940	18,827
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life (years)	4 years
Intangible asset, Gross	$ 70,123	70,813
Intangible assets, Accumulated amortization	$ 46,960	37,050
Patent [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life (years)	2 years 6 months
Intangible asset, Gross	$ 1,544	1,493
Intangible assets, Accumulated amortization	$ 1,145	$ 958

Other Intangible Assets, Net _3

Other Intangible Assets, Net (Details) - Schedule of other Intangible assets future amortization expense - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of other Intangible assets future amortization expense [Abstract]
2022	$ 12,374
2023	11,760
2024	8,853
2025	6,621
2026 and thereafter	17,331
Other intangible assets amortization expense	$ 56,939	$ 74,953

Goodwill (Details) - Schedule o

Goodwill (Details) - Schedule of carrying amount of goodwill - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Abstract]
Balance at the beginning of the year	$ 264,282	$ 170,703
Acquisitions	593	87,438
Functional currency translation adjustments	(3,734)	6,141
Balance at year end	$ 261,141	$ 264,282

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - Schedule of accrued expenses and other liabilities - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Expenses and Other Liabilities [Abstract]
Government authorities	$ 7,010	$ 10,348
Accrued expenses and other liabilities	26,038	24,277
Accrued expenses and other liabilities, total	$ 33,048	$ 34,625

Series B Debentures, Net of C_3

Series B Debentures, Net of Current Maturities (Details) $ in Thousands, ₪ in Millions	1 Months Ended			12 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020ILS (₪)	Sep. 30, 2017USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 18, 2020USD ($)	Mar. 18, 2020ILS (₪)
Series B Debentures, Net of Current Maturities (Details) [Line Items]
Principal amount	$ 60,300		$ 79,200
Annual payments	$ 9,898	₪ 210				$ 9,898
Interest rate percentage	3.37%
Debt premium and issuance costs	$ 80
Debentures, fair value				$ 100,465	$ 122,760
Series B Debentures [Member]
Series B Debentures, Net of Current Maturities (Details) [Line Items]
Interest rate percentage			3.37%
Debt premium and issuance costs			$ 956
Commercial bank was fully repaid							$ 20,000	₪ 60.3
Debt instrument, covenant description				In accordance with the indenture for the Series B Debentures, the Company is required to meet the following financial covenants: (1) Target shareholders’ equity (excluding minority interest)- above $120 million – as of December 31, 2021, total shareholders’ equity was approximately $407 million; and (2) Target ratio of net financial indebtedness to net capitalization (in each case, as defined under the indenture for the Company’s Series B Debentures) below 65% - as of December 31, 2021 the ratio of net financial indebtedness to net capitalization was (36.78)%.  (3) Target ratio of net financial indebtedness to EBITDA (accumulated calculation for the four last quarters) is below 5.5. As of December 31, 2021, the Target ratio of net financial indebtedness to EBITDA was (1.27). As of December 31, 2021, Sapiens is in compliance with all of its financial covenants.
Interest expense				$ 3,337	3,180	2,336
Amortization of debt issuance costs				$ 106	$ 134	$ 171

Series B Debentures, Net of C_4

Series B Debentures, Net of Current Maturities (Details) - Schedule of series B debentures, net of current maturities - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of series B debentures, net of current maturities [Abstract]
Series B Debentures	$ 98,982	$ 118,778
Less: Current maturities	(19,796)	(19,796)
Less: Unamortized debt discounts and issuance costs	(200)	(306)
Total	$ 78,986	$ 98,676

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingent Liabilities (Details) [Line Items]
Percentage of total net consolidated license and maintenance revenue	3.50%
Percentage of net consolidated consulting services revenue	0.35%
Royalty expense	$ 531	$ 494	$ 471
Contingent liability to pay royalties	5,454	6,014
Bank guarantees amount for leased offices	924
Bank guarantees amount for customers and suppliers	$ 320	$ 291
Minimum [Member]
Commitments and Contingent Liabilities (Details) [Line Items]
Percentage of royalties to paid grants received	100.00%
Maximum [Member]
Commitments and Contingent Liabilities (Details) [Line Items]
Percentage of royalties to paid grants received	150.00%

Taxes on Income (Details)

Taxes on Income (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 01, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Taxes on Income (Details) [Line Items]
Income tax rate percentage		23.00%	23.00%	23.00%
Description of tax benefits		the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years) 2016, which includes Amendment 73 to the Law for the Encouragement of Capital Investments (“the 2017 Amendment”) was published and was pending the publication of regulations, in May 2017 regulations were promulgated by the Finance Ministry to implement the “Nexus Principles” based on OECD guidelines published as part of the Base Erosion and Profit Shifting (BEPS) project. Following the publication of the regulations the 2017 Amendment became fully effective. According to the 2017 Amendment, a Preferred Technological Enterprise, as defined in the 2017 Amendment, with total consolidated revenues of the group companies is less than NIS 10 billion, shall be subject to 12% tax rate on income derived from intellectual property (in development area A—a tax rate of 7.5%). In order to qualify as a Preferred technological enterprise certain criterion must be met, such as a minimum ratio of annual R&D expenditure and R&D employees, as well as having at least 25% of annual revenues derived from exports. A PTE that acquires Benefited Intangible Assets from a foreign company for more than NIS 200 million after January 1, 2017, will be eligible for 12% reduce tax rate on capital gain upon sale of the Benefited Intangible Assets.
Benefit regime for preferred technology enterprises, description					The 2017 Amendment further provides that a technology company satisfying certain conditions will qualify as a Special Preferred Technology Enterprise (“SPTE”) (an enterprise for which, among others, total consolidated revenues of its parent company and all subsidiaries is at least NIS 10 billion) and will thereby enjoy a reduced corporate tax rate of 6% on PTI regardless of the Company’s geographic location within Israel. In addition, a SPTE will enjoy a reduced corporate tax rate of 6% on capital gain derived from the sale of certain “Benefited Intangible Assets” to a related foreign company if the Benefited Intangible Assets were either developed by the Special Preferred Technology Enterprise or acquired from a foreign company on or after January 1, 2017.
Corporate tax rates, percentage		6.00%
Tax-exempt income, description		The tax-exempt income is attributable to the Company's previous status as "Approved Enterprise" and "Benefited Enterprise". Such tax-exempt income cannot be distributed to shareholders without subjecting the Company to payable income taxes. If dividends are distributed from previous tax-exempt profits, the Company will be liable for income tax at the rate applicable to its profits from the Approved Enterprise in at the tax rate enacted in the year in which the income was earned. According to the Temporary Order, the reduction of CIT will apply to earnings that are released (with no requirement for an actual distribution) within a period of one year from the date of enactment of the Temporary Order. The reduction in the CIT is dependent on the proportion of the trapped earnings that are released in relation to the total trapped earnings, and on the applicable CIT rate in the years the earnings were generated. Consequently, the larger the proportion of the trapped earnings that are released, the lower the tax in respect of the distribution. The minimum tax rate is 6%.
Foreign investment percentage, description		According to the Temporary Order, the reduction of CIT will apply to earnings that are released (with no requirement for an actual distribution) within a period of one year from the date of enactment of the Temporary Order. The reduction in the CIT is dependent on the proportion of the trapped earnings that are released in relation to the total trapped earnings, and on the applicable CIT rate in the years the earnings were generated. Consequently, the larger the proportion of the trapped earnings that are released, the lower the tax in respect of the distribution. The minimum tax rate is 6%. Further, a company that elects to pay a reduced CIT is required to invest in its industrial enterprise a designated amount in accordance with the Economic Efficiency Law within a period of five years commencing from the tax year in which the election is made. The designated investment should be utilized for the acquisition of production assets, and/or investments in research and development and/or compensation to additional new employees.
Minimum tax rate, percentage		6.00%
Deferred tax liability, description		According to ASC 740, a deferred tax liability would generally be recorded relating to corporate taxes that would be owed on the distribution of profits if management has currently the intention to declare dividends of its tax-exempt earnings.
Accumulated tax-exempt earnings, description		In 2021, the Company elected to benefit from the Temporary Order and pay the reduced CIT as per the provisions of the Economic Efficiency Law in respect of its total accumulated tax-exempt earnings amounting to NIS 109 million (approximately $35.3 million), and accordingly recognized deferred tax liability of $3,531.
Accumuated earnings		$ 35,300
Deferred Tax Liabilities, Deferred Expense		3,531
Undistributed earnings of foreign subsidiaries		56,117
Unrecognized deferred tax liability for temporary differences related to investments		5,553
Loss carryforwards		34,515
Unrecognized tax benefits		1,180
Release the trapped earnings		3,531
Accrued interest of unrecognized tax benefits		$ 1,143	$ 1,748
Isreal [Member]
Taxes on Income (Details) [Line Items]
Tax rate percentage		12.00%
Maximum [Member]
Taxes on Income (Details) [Line Items]
Income tax rate percentage	35.00%
Minimum [Member]
Taxes on Income (Details) [Line Items]
Income tax rate percentage	21.00%

Taxes on Income (Details) - Sch

Taxes on Income (Details) - Schedule of deferred tax assets and liabilities - USD ($) $ in Thousands	Dec. 31, 2021		Dec. 31, 2020
Schedule of deferred tax assets and liabilities [Abstract]
Net operating losses carryforwards	$ 7,142	[1]	$ 8,701
Research and development	1,316		1,514
Lease liability	8,725		9,441
Reserves and allowances	5,119		5,523
Other	3,383		2,041
Deferred tax assets before valuation allowance	25,685		27,220
Valuation allowance	(5,104)		(8,057)
Deferred tax assets	20,581		19,163
Capitalized software development costs	(3,045)		(3,428)
Lease right-of-use asset	(8,098)		(9,441)
Acquired intangibles	(13,169)		(17,498)
Property and equipment	(367)		(380)
Undistributed earnings			(1,302)
Other	(93)		(1,254)
Deferred tax liabilities	(32,819)		(33,303)
Deferred tax liabilities, net	(12,238)		(14,140)
Deferred tax assets, net	3,122		1,870
Deferred tax liabilities, net	(15,360)		(16,010)
Deferred tax liabilities, net	$ (12,238)		$ (14,140)
[1]	Net of $1,180 provision for unrecognized tax benefits related to carryforward losses.

Taxes on Income (Details) - S_2

Taxes on Income (Details) - Schedule of income before income taxes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of income before income taxes [Abstract]
Domestic (Israel)	$ 39,248	$ 34,037	$ 34,303
Foreign	18,038	7,161	798
Income before taxes on income	$ 57,286	$ 41,198	$ 35,101

Taxes on Income (Details) - S_3

Taxes on Income (Details) - Schedule of effective income tax rate reconciliation - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of effective income tax rate reconciliation [Abstract]
Income before taxes on income, as reported in the statements of income	$ 57,286	$ 41,198	$ 35,101
Statutory tax rate in Israel	23.00%	23.00%	23.00%
Theoretical taxes on income	$ 13,176	$ 9,476	$ 8,073
Foreign and preferred enterprise tax rates differences	(7,338)	(5,511)	(2,326)
Changes in carry forward tax losses and other temporary differences for which valuation allowance was provided	(1,645)	558	783
Non-deductible expenses	1,437	1,722	549
Increase in uncertain tax positions, net	616	755	1,889
Release of trapped earnings (see note 13.a.2)	3,531
Others	187	41	(358)
Taxes on income, as reported in the statements of income	$ 9,964	$ 7,041	$ 8,610

Taxes on Income (Details) - S_4

Taxes on Income (Details) - Schedule of taxes on income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of taxes on income [Abstract]
Current	$ 11,866	$ 7,543	$ 14,733
Deferred	(1,902)	(502)	(6,123)
Taxes on income	9,964	7,041	8,610
Domestic (Israel)	9,086	3,695	3,639
Foreign	878	3,346	4,971
Taxes on income	$ 9,964	$ 7,041	$ 8,610

Taxes on Income (Details) - S_5

Taxes on Income (Details) - Schedule of unrecognized tax benefits - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of unrecognized tax benefits [Abstract]
Balance at the beginning of the year	$ 7,646	$ 5,835
Acquisition of subsidiaries		1,057
Increase in tax positions	2,731	2,487
Decrease in tax positions	(1,457)	(1,733)
Balance at the end of the year	$ 8,920	$ 7,646

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 03, 2021	Feb. 06, 2020	Oct. 20, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 11, 2021	Apr. 12, 2021
Equity (Details) [Line Items]
Proceeds from issuance			$ 108,737
Net of issuance expenses			$ 509
Total equity-based compensation expenses				$ 4,711	$ 3,987	$ 1,405
Issuance of aggregate RSUs shares (in Shares)	24,222	173,005
Compensation costs related to RSUs				1,130
Total unrecognized compensation cost related to non-vested options				$ 10,369
Weighted-average period				2 years 18 days
Cash dividend per common share (in Dollars per share)								$ 0.37
Cash dividend total amount							$ 20,286
2011 Plan [Member]
Equity (Details) [Line Items]
Total number of common shares available (in Shares)				8,000,000
2021 Plan [Member]
Equity (Details) [Line Items]
Common shares available for future grant (in Shares)				1,868,172
Employees and Directors [Member]
Equity (Details) [Line Items]
Weighted average grant date fair values of options granted (in Dollars per share)				$ 10.35	$ 7.99	$ 4.24
Total intrinsic value of options exercised				$ 8,505	$ 11,658	$ 2,301
IPO [Member]
Equity (Details) [Line Items]
Shares issued (in Shares)			3,898,304
Shares issued price per share (in Dollars per share)			$ 29.5

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock option activities $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
Schedule of stock option activities [Abstract]
Number of Options, Outstanding, Beginning balance | shares	1,462,482
Weighted-Average Exercise Price, Outstanding, Beginning balance | $ / shares	$ 14.26
Weighted-Average Remaining Contractual Term (in years), Outstanding, Beginning balance	3 years 2 months 1 day
Aggregate Intrinsic Value, Outstanding, Beginning balance | $	$ 24,019
Number of Options, Granted | shares	847,000
Weighted-Average Exercise Price, Granted | $ / shares	$ 30.36
Number of Options, Exercised | shares	(359,859)
Weighted-Average Exercise Price, Exercised | $ / shares	$ 10.32
Number of Options, Expired and forfeited | shares	(114,238)
Weighted-Average Exercise Price, Expired and forfeited | $ / shares	$ 12.69
Number of Options, Ending balance | shares	1,835,385
Weighted-Average Exercise Price, Ending balance | $ / shares	$ 22.27
Weighted-Average Remaining Contractual Term, Ending balance	3 years 9 months 7 days
Aggregate Intrinsic Value, Ending balance | $	$ 22,374
Number of Options, Vested and expected to vest | shares	1,835,385
Weighted-Average Exercise Price, Vested and expected to vest | $ / shares	$ 22.27
Weighted-Average Remaining Contractual Term, Vested	3 years 9 months 7 days
Aggregate Intrinsic Value, Vested | $	$ 22,374
Number of Options, Exercisable | shares	734,969
Weighted-Average Exercise Price, Exercisable | $ / shares	$ 12.95
Weighted-Average Remaining Contractual Term, Exercisable	2 years 1 month 6 days
Aggregate Intrinsic Value, Exercisable | $	$ 15,064

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of options outstanding under stock option plans - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding as of December 31, 2021 (in Shares)	1,835,385	1,462,482
Weighted Average remaining contractual Term (Years)	3 years 9 months 7 days
Weighted average exercise price	$ 22.27
Options Exercisable as of December 31, 2021 (in Shares)	734,696
Weighted Average Exercise price of Options Exercisable	$ 12.95
7.94 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Ranges of exercise price	$ 7.94
Options outstanding as of December 31, 2021 (in Shares)	3,750
Weighted Average remaining contractual Term (Years)	2 years 4 months 6 days
Weighted average exercise price	$ 7.94
8.7-10.72 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Ranges of exercise price, minimum	8.7
Ranges of exercise price, maximum	$ 10.72
Options outstanding as of December 31, 2021 (in Shares)	597,969
Weighted Average remaining contractual Term (Years)	1 year 9 months 25 days
Weighted average exercise price	$ 10.64
Options Exercisable as of December 31, 2021 (in Shares)	564,969
Weighted Average Exercise price of Options Exercisable	$ 10.66
11.48-15.09 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Ranges of exercise price, minimum	11.48
Ranges of exercise price, maximum	$ 15.09
Options outstanding as of December 31, 2021 (in Shares)	109,166
Weighted Average remaining contractual Term (Years)	2 years 3 months 10 days
Weighted average exercise price	$ 12.51
Options Exercisable as of December 31, 2021 (in Shares)	67,500
Weighted Average Exercise price of Options Exercisable	$ 12.17
23.92-28.49 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Ranges of exercise price, minimum	23.92
Ranges of exercise price, maximum	$ 28.49
Options outstanding as of December 31, 2021 (in Shares)	297,500
Weighted Average remaining contractual Term (Years)	4 years 6 months 21 days
Weighted average exercise price	$ 25.97
Options Exercisable as of December 31, 2021 (in Shares)	82,500
Weighted Average Exercise price of Options Exercisable	$ 24.77
29.81-32.27 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Ranges of exercise price, minimum	29.81
Ranges of exercise price, maximum	$ 32.27
Options outstanding as of December 31, 2021 (in Shares)	730,000
Weighted Average remaining contractual Term (Years)	4 years 11 months 23 days
Weighted average exercise price	$ 30.17
Options Exercisable as of December 31, 2021 (in Shares)	20,000
Weighted Average Exercise price of Options Exercisable	$ 31.59
31.96 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Ranges of exercise price	$ 34.96
Options outstanding as of December 31, 2021 (in Shares)	97,000
Weighted Average remaining contractual Term (Years)	5 years 11 months 1 day
Weighted average exercise price	$ 34.69
Options Exercisable as of December 31, 2021 (in Shares)
Weighted Average Exercise price of Options Exercisable

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of restricted stock unit activities - RSU [Member]	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Equity (Details) - Schedule of restricted stock unit activities [Line Items]
Amount of options, Unvested | shares	238,005
Weighted Average Grant-Date Fair Value, Unvested | $ / shares	$ 24.45
Amount of options, Granted | shares	74,222
Weighted Average Grant-Date Fair Value, Granted | $ / shares	$ 29.96
Amount of options, Vested | shares	(43,451)
Weighted Average Grant-Date Fair Value, Vested | $ / shares	$ 24.45
Amount of options, Expired and forfeited | shares	(65,020)
Weighted Average Grant-Date Fair Value, Expired and forfeited | $ / shares	$ 24.47
Amount of options, Unvested | shares	203,756
Weighted Average Grant-Date Fair Value, Unvested | $ / shares	$ 26.46

Related Parties Transactions (D

Related Parties Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Parties Transactions (Details) [Line Items]
Received services amount	$ 14,598	$ 8,523	$ 6,005
Due to related parties	3,187	1,908
Due from related parties	858	1,241
Sapiens Poland [Member]
Related Parties Transactions (Details) [Line Items]
Professional services and fixed assets	197	521	676
Hardware and Software [Member]
Related Parties Transactions (Details) [Line Items]
Purchased from affiliated companies	$ 369	$ 267	$ 194

Basic and Diluted Net Earning_3

Basic and Diluted Net Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Diluted net earnings per share	804,438	200,000	0

Basic and Diluted Net Earning_4

Basic and Diluted Net Earnings Per Share (Details) - Schedule of earnings per share, basic and diluted - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator (thousands):
Net income attributed to Sapiens’ shareholders (in Dollars)	$ 47,171	$ 33,775	$ 26,247
Denominator (thousands):
Denominator for basic earnings per share - weighted average number of common shares, net of treasury stock	54,785,000	51,208,000	50,031,000
Stock options and RSU	805,000	951,000	622,000
Denominator for diluted net earnings per share - adjusted weighted average number of shares	55,590,000	52,159,000	50,653,000

Geographic Information (Details

Geographic Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Geographic Information (Details) [Line Items]
Percentage of revenues from major customers	10.00%	10.00%	10.00%
United States [Member]
Geographic Information (Details) [Line Items]
Revenues (in Dollars)	$ 186,909	$ 186,687	$ 163,089
Other Customer [Member]
Geographic Information (Details) [Line Items]
Percentage of revenues from major customers	10.00%	10.00%	10.00%

Geographic Information (Detai_2

Geographic Information (Details) - Schedule of revenues by country based - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Geographic Information (Details) - Schedule of revenues by country based [Line Items]
Revenues		$ 461,035	$ 382,903	$ 325,674
North America [Member]
Geographic Information (Details) - Schedule of revenues by country based [Line Items]
Revenues	[1]	188,980	187,258	163,565
Europe [Member]
Geographic Information (Details) - Schedule of revenues by country based [Line Items]
Revenues	[2]	237,054	172,660	133,851
Rest of the world [Member]
Geographic Information (Details) - Schedule of revenues by country based [Line Items]
Revenues		$ 35,001	$ 22,985	$ 28,258
[1]	Revenues from North America that are shown in the above table consist of revenues primarily from the United States (in amounts of $163,089, $186,687 and $186,909 during the years ended December 31, 2019, 2020 and 2021, respectively).
[2]	Revenues from Europe include revenues from European Union countries, the United Kingdom, or UK, and Israel.

Geographic Information (Detai_3

Geographic Information (Details) - Schedule of property and equipment - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Geographic Information (Details) - Schedule of property and equipment [Line Items]
Property and equipment	$ 58,123	$ 71,360
Israel [Member]
Geographic Information (Details) - Schedule of property and equipment [Line Items]
Property and equipment	22,263	27,944
North America [Member]
Geographic Information (Details) - Schedule of property and equipment [Line Items]
Property and equipment	4,737	8,245
APAC [Member]
Geographic Information (Details) - Schedule of property and equipment [Line Items]
Property and equipment	20,104	20,871
Europe [Member]
Geographic Information (Details) - Schedule of property and equipment [Line Items]
Property and equipment	$ 11,019	$ 14,300

Revenue (Details)

Revenue (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Performance obligation	$ 182,000,000
Percentage of remaining performance obligations	79.00%
Other long term assets	$ 784
Deferred revenues		$ 33,030,000

Revenue (Details) - Schedule of

Revenue (Details) - Schedule of disaggregated revenue - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Project implementation phase:
Total	$ 461,035	$ 382,903
Revenues from pre-production implementation projects [Member]
Project implementation phase:
Total	178,419	142,247
Revenues from post-production implementation projects [Member]
Project implementation phase:
Total	$ 282,616	$ 240,656

Revenue (Details) - Schedule _2

Revenue (Details) - Schedule of trade receivables, unbilled receivables, contract assets and contract liabilities - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Schedule of trade receivables, unbilled receivables, contract assets and contract liabilities [Abstract]
Trade receivables (net of allowance for credit losses of $1,558 and $1,337 on December 31, 2020 and 2021, respectively)		$ 53,985	$ 48,623
Short-term unbilled receivables	[1]	16,072	9,301
Long-term unbilled receivables	[1]	858	772
Contract assets	[2]	6,988	7,485
Deferred revenues (short-term contract liabilities)		39,614	34,548
Long-term deferred revenues (long-term contract liabilities)	[3]	$ 299	$ 524
[1]	Unbilled receivables relate to revenue recognized in excess of amounts invoiced as the Company has an unconditional right to invoice and receive payment in the future related to its fulfilled obligations.
[2]	Contract assets relate to unbilled receivables (including a long-term balance of $784 presented in other long-term assets as of December 31, 2021), which represent revenue recognized on arrangements for which billings have not yet been presented to customers because the amounts were earned but not contractually billable as of the balance sheet date, and the right to consideration is generally subject to milestone completion, client acceptance or factors other than the passage of time.
[3]	Included in other long-term liabilities in the consolidated balance sheets

Revenue (Details) - Schedule _3

Revenue (Details) - Schedule of trade receivables, unbilled receivables, contract assets and contract liabilities (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of trade receivables, unbilled receivables, contract assets and contract liabilities [Abstract]
Allowance for credit losses	$ 1,337	$ 1,558

Selected Statements of Operat_3

Selected Statements of Operations Data (Details) - Schedule of research and development expenses, net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of research and development expenses, net [Abstract]
Total costs	$ 61,924	$ 47,156	$ 43,043
Less - capitalized software development costs	(7,911)	(5,798)	(5,665)
Research and development expenses, net	$ 54,013	$ 41,358	$ 37,378

Selected Statements of Operat_4

Selected Statements of Operations Data (Details) - Schedule of financial income, net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial income:
Interest	$ 887	$ 380	$ 382
Foreign currency translation	1,413	1,312	991
Derivatives gains, net	3,338	104	535
Financial income, Total	5,638	1,796	1,908
Financial expenses:
Foreign currency translation, bank charges and other	2,046	1,299	1,646
Interest	3,794	4,302	3,030
Financial expenses, Total	(5,840)	(5,601)	(4,676)
Financial expense, net	$ (202)	$ (3,805)	$ (2,768)