us Thank quarter you you, thank for as everyone first operator report we our XXXX joining and results. financial today
delivered with all ever today, start During expectations. by to an flagship an exceeding XX.X%, subsidiaries. $XXX.X year-over-year fronts quarter from results its to year of market margin acquired increasing Magic a revenue with across of in IT amounting million, to multiple the year-over-year compared overview highlights proprietary on with across million is will and supported Magic offering global software I the markets strongest organic from growth global non-GAAP to geographies. successfully of broad our the and by all year XX.X% the our call margin operating X.X%, team Software XXXX. for This quarter provide XX% resulting delivered Magic a of The in company, services income, operating operating of QX The was XX% has full you XX.X% give balance a delivered our $XX.X operating revenue increase consolidation its first our first technology. achievement achievements.
to Our regions and balance investments risk us growth, across allows and our resources, markets. strategy
well-rounded execution transformation based validates and building clients first as solid the we broad Our for sustained cycle. our in long-term on provides our to customers trust strategy and broader solid efforts portfolio, safety quarter journey performance part as significant of help develop Moreover, approach the in invest which we a a engagement our our their continue our experience our our of digital growth offering improving through enhancing in strategy. supporting business customer foundation of
as as We growth deliver XXXX us are witnessing preferred healthy and to in pipeline customers developing partner engage continued digital for the increasingly growing a a demand our transformation initiatives.
continue order expenses. despite balanced resources transformation we workforce over our support while a fierce competition such, increasing As level future and to IT further projects maintaining of existing carefully talented in
to organic globally we growth. all the results extremely more the have X,XXX in to we demonstrate, spread sustained With the employees proud we from our that tools We are believe X,XXX for continue period, than positive strongly compared of place talented particularly respective growth. in
to of improving shareholder’s is committed record and track generation continue execute our to allowing worldwide well-established and to cash a have deliver, the team We value. strategy Magic growth, profitability us high our
financials breakdown the to and our geographical of the Moving starting revenues. with
growth came Most territories. which and and XX%; has be third Europe, absolute of total North the to Israel, first America X%; revenues; in the from America for strongest accounted for numbers of Israel, of During the accounted our our world traditionally rest revenues. and continued APAC of XX% X% our quarter, North quarter
in $XX.X last year, Israel reached compared the million compared $XX.X sequential Revenue in a XX% of our to same North sequential quarter. growth million, XX% million On Our period XX% the a the the million, to quarter. QX in QX year, period up X% growth $XX.X revenues in in of XX% same our of modestly up in first On Israel $XX.X first accounting in North $XX.X basis, XXXX. previous for the America revenues, million America up $XX.X million accounting from was revenues in basis, for XXXX. from up reached was
been Israel’s sequential basis, Although on a growth have X%. constant currency would
profitability. to now Turning
Our for $XX.X year. the XXXX quarter million, last the in to up million XX% of of profit non-GAAP was first first $XX.X gross approximately quarter compared
to non-GAAP basis margin in XXXX. the XXXX by of XX%. of breakdown the solutions XX% The our first revenue approximately related approximately to services. software quarter The our first to is decrease professional first compared of quarter of related approximately XX.X% gross to to first our our to the a professional quarter change in margin quarter gross Our with XXXX XXX decreased margin solutions margin for XX% services was software gross of in attributable our a for XX% the our revenue mainly our of mix XXXX of gross points and from XX.X% of related mix the with
our of last the professional months professional our to services compared related segment, services service the to of with of X QX business solutions to breakdown for margin acquired demand and to our mix gross related IT with was professional first experts XXXX our same approximately revenue and The related XX% revenues stream services and of services XX% XX% our addition our percentage professional software in strong Professional increase Enable continued the the a is to margin of driving related Software April our of approximately our to in in gross to While for segment. period XX% XXXX, The our professional XXXX due software our to were of attributable year. related XX%. a approximately in professional XX% to and XX% our our solutions profit gross of Solutions XX% Service
well in quarter. expenses, totaled basis XXXX, the non-GAAP year of as in R&D million to the a in Moving period of quarter same million first previous costs. as the $X.X to $X compared last operational on
non-GAAP Our XXXX period compared XXXX margin the same of the $XX.X of to for compared XX.X% year year. XX% XX% the an in and increased for of $XX operating XX.X% million to This to first operating for of quarter first last million reflects whole XXXX. quarter the in quarter the income
million quarter of Our million for first non-GAAP tax first to compared quarter $X.X tax the $X.X XXXX. the of expense expense a in totaled
in rate XXXX was X-month of approximately XX% compared Our the effective tax to for recorded XXXX. period XX%
to effective rate be our to expect of in XXXX tax in We XX% the range XX%.
XX% period $X.XX per for income million first compared or or year. diluted to share share fully increased million approximately to net per $XX.X in quarter the same last $X.XX non-GAAP the diluted fully Our $XX.X
Turning now sheet. balance to the
previous March $XX.X million cash equivalents, the XX, million cash in long-term compared of amounted XXXX, short bank approximately and $XXX.X marketable to As deposits and and to quarter. securities
quarter perspective, for turn from From second operating for half activities the of total XXXX, closing, On Our March shareholders in X, of per guidance paid to accordance financial first with million our $X.XXX as a XXXX. flow to XXXX, like we cash $XX.X amounted debt a the XXXX. policy, million previous share dividend $XX to of quarter. dividend would XX, generated $XX.X compared approximately April million In I we our or XXXX. in the $XX.X of to cash in our million
our year despite devaluation expected from and Israeli versus the resulting annual current impacting of business revenue dollar, negatively new the pipeline Given and our million impact the the and the growing approximately year. period headwind shekel place growth this and approximately the $X by euro mainly in momentum prior Passover, U.S. current our of last Jewish the March or X.X% guidance the April of during versus holiday season which took prospective of
new of to from that, revenue a million, now I growth $XXX of million XXXX guidance range to XX.X% the compared annual our to revising XXXX. to $XXX previous the million range questions. for million to rate call are will reflecting XX.X% to a We turn annual of over operator With $XXX $XXX
