Exhibit 99.1

Sapiens Reports 16.5% Revenue Growth in Q4 2015

Full-Year Revenue Growth of 13.9% and Diluted Earnings Per Share Growth of 36.2%

Holon, Israel, February 17, 2016 – Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, with an emerging focus on the broader financial services sector, and a member of the Formula Group (NASDAQ: FORTY and TASE: FORT), today announced its financial results for the fourth quarter and year ended December 31, 2015.

Fourth Quarter Highlights:

· Non-GAAP revenue of $48.7 million, up 16.5% compared to $41.8 million in the fourth quarter of 2014.

· Non-GAAP operating profit increased by 48.4% and totaled $7.4 million (15.1% operating margin), compared to $5.0 million (11.9% operating margin) in the fourth quarter of 2014.

· Non-GAAP net income attributable to Sapiens’ shareholders totaled $6.3 million or $0.13 per diluted share, an increase of 28.0% compared to $4.9 million or $0.10 per diluted share in the fourth quarter last year.

· Cash, cash equivalents and securities investments as of December 31, 2015 was $94.0 million and the company has no debt.

Full Year Financial Highlights:

· Non-GAAP revenue increased by 13.9% to $179.3 million from $157.5 million in the same period of 2014. Excluding the impact of foreign currency exchange rates, revenue growth exceeded 20%.

· Non-GAAP operating profit was $26.5 million (14.8% operating margin), compared to $17.0 million (10.8% operating margin) in 2014, an increase of 56.0%.

· Non-GAAP net income attributable to Sapiens’ shareholders reached $22.1 million, or $0.45 per diluted share compared to $16.0 million, or $0.33 per diluted share in the year ago period, an increase of 36.2%.

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“We again delivered double-digit growth and improved performance across all of our offerings, from all geographies, and from both new and existing customers due to continued strong demand for our award-winning products and services,” said Roni Al-Dor, President and CEO of Sapiens. “Our efforts to more efficiently leverage our operations and improve our operating margins enabled us to grow our bottom line, and we are well positioned to continue our revenue and profitability growth into 2016 and beyond.”

Mr. Al-Dor continued. “Our strategic acquisitions of IBEXI in India and Insseco in Poland are clearly paying off, allowing us to increase our presence and support customers through new regional delivery and development centers in those markets. We expect to continue our acquisition strategy in 2016 to expand our geographic footprint and to enhance our product offerings. With new recent business wins across all our product lines, including our recently announced $30 million business expansion with a leading North American insurance company, we are confident for continued double-digit growth in 2016.”

Mr. Al-Dor concluded: “Longer term, our expanded global presence and increasingly comprehensive suite of solutions will drive continued growth, and we remain enthusiastic about the near-term and long-term prospects for our markets and our strategic position as an innovative provider of advanced, industry-leading software solutions.”

2016 Business Outlook

Management indicated it expects 2016 full year revenues of $207 to $211 million, a growth of 15.4%-17.7%.

The company also expects full-year 2016 Non-GAAP operating margins in the range of 15.0% - 15.5%.

Quarterly Results Conference Call

Management will host a conference call and webcast today, February 17, at 9:30 a.m. Eastern Time (4:30 p.m. in Israel) to review and discuss Sapiens’ results. Please call the following numbers (at least 10 minutes before the scheduled time) to participate:

North America (toll-free): + 1-866-860-9642; International: +972-3-918-0664; UK: 0-800-917-9141

The live webcast of the call can be viewed on Sapiens’ website at: http://www.sapiens.com/investors/presentations-and-webcast/

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If you are unable to join live, a replay of the call will be accessible until February 27, 2016, as follows:

North America: 1-888-782-4291; International: +972-3-925-5901

A recorded version of the webcast will also be available via the Sapiens website, for three months at the same location.

Non-GAAP Financial Measures

This press release contains the following non-GAAP financial measures: Non-GAAP revenue, Non-GAAP gross profit, Non-GAAP operating income, Non-GAAP net income attributed to Sapiens shareholders, Non-GAAP basic and diluted earnings per share.

Sapiens believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Sapiens' financial condition and results of operations. The Company's management uses these non-GAAP measures to compare the Company's performance to that of prior periods for trend analyses, for purposes of determining executive and senior management incentive compensation and for budgeting and planning purposes. These measures are used in financial reports prepared for management and in quarterly financial reports presented to the Company's board of directors. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company's financial measures with other software companies, many of which present similar non-GAAP financial measures to investors.

Management of the Company does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. Sapiens urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate the Company's business.

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In addition, the Company adjusted revenues and expenses, recorded under US GAAP, of pre-acquisition date in respect of acquired business from its ultimate parent company. As this transaction is between companies under common control, under US GAAP, it was accounted for under the pooling of interest method. For non-GAAP measurement purposes, the Company excludes the pre-acquisition date revenues and expenses.

Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables of this release.

The Company defines Adjusted EBITDA as net Profit, adjusted for stock-based compensation expense, depreciation and amortization, capitalized internal-use software development costs, amortization of internal-use software development costs interest expense, compensation expenses related to acquisition, pre-acquisition revenues and expenses accounted under pooling of interest method, provision for income taxes and other income (expenses). These amounts are often excluded by other companies to help investors understand the operational performance of their business. The Company uses Adjusted EBITDA as a measurement of its operating performance because it assists in comparing the operating performance on a consistent basis by removing the impact of certain non-cash and non-operating items. Adjusted EBITDA reflect an additional way of viewing aspects of the operations that the Company believes, when viewed with the GAAP results and the accompanying reconciliations to corresponding GAAP financial measures provide a more complete understanding of factors and trends affecting its business.

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) is a leading global provider of software solutions for the insurance industry, with an emerging focus on the broader financial services sector. We offer core, end-to-end solutions to the global general insurance, property and casualty, life, pension and annuities, and retirement markets, as well as business decision management software. We have a track record of over 30 years in delivering superior software solutions to more than 190 financial services organizations. The Sapiens team of approximately 1,600 professionals operates through our fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific. For more information: www.sapiens.com.

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Forward Looking Statement

Some of the statements in this press release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchange Act of 1934 and the United States Private Securities Litigation Reform Act of 1995. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements (although not all forward-looking statements include such words). These forward-looking statements, which may include, without limitation, projections regarding our future performance and financial condition, are made on the basis of management's current views and assumptions with respect to future events. Any forward-looking statement is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking statement.

These statements speak only as of the date they were made, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We operate in a changing environment. New risks emerge from time to time and it is not possible for us to predict all risks that may affect us. For more information regarding these risks and uncertainties, as well as certain additional risks that we face, please refer to the Risk Factors detailed in Item 3 of Part III of our Annual Report on Form 20-F for the year ended December 31, 2014, and subsequent reports and registration statements filed from time to time with the Securities and Exchange Commission.

Investors and Media Contact:

Yaffa Cohen-Ifrah

Chief Marketing Officer and Head of Corporate Communications

Sapiens International

US Mobile: +1 201-250-9414

Mobile: +972 54-9099039

Email: yaffa.cohen-ifrah@sapiens.com

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Summary of Non-GAAP financial Information

U.S. dollars in thousands (except per share amounts)

	Three months ended								Year ended
	December 31,								December 31,
	2015				2014				2015				2014
	(unaudited)				(unaudited)				(unaudited)				(unaudited)
Revenues		48,674	100	%		41,773	100	%		179,263	100	%		157,450	100	%
Gross Profit		21,515	44.2	%		17,478	41.8	%		78,472	43.8	%		64,193	40.8	%
Operating profit		7,356	15.1	%		4,958	11.9	%		26,547	14.8	%		17,014	10.8	%
Net income to shareholders		6,332	13.0	%		4,948	11.8	%		22,105	12.3	%		16,008	10.2	%
Adjusted EBITDA		7,928	16.3	%		5,363	12.8	%		28,499	15.9	%		18,596	11.8	%
Basic earnings per share		0.13				0.10				0.46				0.34
Diluted earnings per share		0.13				0.10				0.45				0.33

Adjusted EBITDA Calculation
U.S. dollars in thousands

	Three months ended						Year ended
	December 31,						December 31,
	2015			2014			2015			2014
GAAP operating profit		6,796			4,550			24,350			14,906
Non GAAP adjustments:
Amortization of capitalized software		1,323			1,194			4,875			4,926
Amortization of other intangible assets		392			544			2,106			2,209
Capitalization of software development		(1,641	)		(1,556	)		(6,032	)		(6,094	)
Compensation related to acquisition		51			-			270			-
Stock-based compensation		435			226			1,349			1,067
Adjustments of pre-acquisition revenues and expenses accounted under pooling of interest method		-			-			(371	)		-
Non GAAP operating profit		7,356			4,958			26,547			17,014
Depreciation		572			405			1,952			1,582
Adjusted EBITDA		7,928			5,363			28,499			18,596

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Non-GAAP revenues by category
U.S. dollars in thousands

	Three months ended December 31, 2015					Year ended  December 31, 2015
	Revenues		Percentage			Revenues		Percentage
License		2,820		5.8	%		12,300		6.9	%
Services and Maintenance		45,854		94.2	%		166,963		93.1	%
Total		48,674		100.0	%		179,263		100.0	%

Non-GAAP revenues by geographic breakdown
U.S. dollars in thousands

	Three months ended December 31, 2015					Year ended December 31, 2015
	Revenues		Percentage			Revenues		Percentage
North America		16,767		34.4	%		61,332		34.2	%
Europe		26,439		54.3	%		97,419		54.3	%
APAC		5,468		11.3	%		20,512		11.5	%
Total		48,674		100	%		179,263		100	%

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SAPIENS INTERNATIONAL CORPORATION N.V. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

U.S. dollars in thousands (except per share amounts)

	Three months ended						Year ended
	December 31,						December 31,
	2015			2014			2015*			2014
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Revenue		48,674			41,773			185,636			157,450
Cost of revenue		28,633			25,731			111,192			99,095
Gross profit		20,041			16,042			74,444			58,355
Operating Expenses:
Research and development, net		2,747			2,752			10, 235			11,352
Selling, marketing, general and administrative		10,498			8,740			39,859			32,097
Total operating expenses		13,245			11,492			50,094			43,449
Operating income		6,796			4,550			24,350			14,906
Financial expenses (income), net		(402	)		26			(163	)		(124	)
Taxes and other expenses (income), net		1,192			(88	)		4,213			454
Net income		6,006			4,612			20,300			14,576
Attributable to non-controlling interest		134			(12	)		284			113
Net income attributable to Sapiens' shareholders		5,872			4,624			20,016			14,463
Basic earnings per share		0.12			0.10			0.42			0.31
Diluted earnings per share		0.12			0.09			0.41			0.30
Weighted average number of shares outstanding used to compute basic earnings per share (in thousands)		48,758			47,655			48,121			47,210
Weighted average number of shares outstanding used to compute diluted earnings per share (in thousands)		49,536			49,057			49,327			48,637

* Including consolidation of Insseco commencing December 31, 2014.

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SAPIENS INTERNATIONAL CORPORATION N.V. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP RESULTS

U.S. dollars in thousands (except per share amounts)

	Three months ended						Year ended
	December 31,						December 31,
	2015			2014			2015*			2014
GAAP revenue		48,674			41,773			185,636			157,450
Adjustments of pre-acquisition revenue accounted under pooling of interest method		-			-			(6,373	)		-
Non-GAAP revenue		48,674			41,773			179,263			157,450
GAAP gross profit		20,041			16,042			74,444			58,355
Revenue adjustment		-			-			(6,373	)		-
Amortization of capitalized software		1,323			1,194			4,875			4,926
Amortization of other intangible assets		151			242			794			912
Adjustments of pre-acquisition cost of revenue accounted under pooling of interest method		-			-			4,732			-
Non-GAAP gross profit		21,515			17,478			78,472			64,193
GAAP operating income		6,796			4,550			24,350			14,906
Gross profit adjustments		1,474			1,436			4,028			5,838
Capitalization of software development		(1,641	)		(1,556	)		(6,032	)		(6,094	)
Amortization of other intangible assets		241			302			1,312			1,297
Stock-based compensation		435			226			1,349			1,067
Compensation related to acquisition		51			-			270			-
Adjustments of pre-acquisition operating expenses accounted under pooling of interest method		-			-			1,270			-
Non-GAAP operating income		7,356			4,958			26,547			17,014
GAAP net income attributable to Sapiens' shareholders		5,872			4,624			20,016			14,463
Operating income adjustments		560			408			2,197			2,108
Adjustment to redeemable non-controlling interest		151			-			224			-
Adjustments of pre-acquisition financial and tax expenses accounted under pooling of interest method		-			-			50			-
Other		(251	)		(84	)		(382	)		(563	)
Non-GAAP net income attributable to Sapiens' shareholders		6,332			4,948			22,105			16,008
Non-GAAP basic earnings per share		0.13			0.10			0.46			0.34
Non-GAAP diluted earnings per share		0.13			0.10			0.45			0.33
Weighted average number of shares outstanding used to compute basic earnings per share (in thousands)		48,758			47,655			48,121			47,210
Weighted average number of shares outstanding used to compute diluted earnings per share (in thousands)		49,536			49,057			49,327			48,637

* Including consolidation of Insseco commencing the acquisition date, August 18, 2015.

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SAPIENS INTERNATIONAL CORPORATION N.V. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

U.S. Dollars in thousands

	December 31,		December 31,
	2015		2014*
	(unaudited)		(unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		54,351		47,400
Trade receivables, net		29,761		31,832
Other receivables and prepaid expenses		5,455		3,964
Marketable Securities		8,776		-
Total current assets		98,343		83,196
LONG-TERM ASSETS:
Marketable Securities		30,875		33,098
Property and equipment, net		5,675		5,011
Severance pay fund		5,551		10,735
Other intangible assets, net		27,540		27,905
Other long-term assets		4,252		5,567
Goodwill		70,035		67,698
Total long-term assets		143,928		150,014
TOTAL ASSETS		242,271		233,210
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Trade payables		4,721		3,310
Accrued expenses and other liabilities		32,012		26,951
Deferred revenue		10,268		9,272
Total current liabilities		47,001		39,533
LONG-TERM LIABILITIES:
Other long-term liabilities		6,414		3,217
Accrued severance pay		6,662		12,008
Total long-term liabilities		13,076		15,225
REDEEMABLE NON-CONTROLLING INTEREST		385		159
EQUITY		181,809		178,293
TOTAL LIABILITIES AND EQUITY		242,271		233,210

* December 31, 2014 Balance Sheet was revised to reflect the acquisition of Insseco, in accordance with the pooling of interest method.

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Sapiens International Corporation N.V. AND ITS SUBSIDIARIES
Consolidated Statement of Cash Flow
U.S. dollars in thousands

	For the year ended December 31
	2015			2014
	(unaudited)			(unaudited)
Cash flows from operating activities:
Net income		20,300			14,576
Reconciliation of net income to net cash provided by operating activities:
Depreciation  and amortization		9,625			8,717
Amortization of premium and accrued interest on marketable securities		(453	)		(225	)
Stock-based compensation related to options issued to employees		1,349			1,067
Decrease (increase) in trade receivables		1,893			(6,637	)
Deferred tax assets		2,169			(1,020	)
Decrease (increase) in other operating assets		(1,229	)		127
Increase (decrease)  in trade payables		1,511			(3,297	)
Increase in other operating liabilities		4,134			8,469
Increase (decrease)  in deferred revenues		1,300			(223	)
Severance pay		(159	)		7
Net cash provided by operating activities		40,440			21,561
Cash flows from investing activities:
Purchase of property and equipment		(2,815	)		(1,468	)
Purchase of marketable securities		(7,678	)		(34,906	)
Proceeds from sales of marketable securities		1,499			1,543
Payments for business acquisition, net of cash acquired		(2,934	)		(2,064	)
Capitalized software development costs		(6,032	)		(6,094	)
Decrease (increase) in restricted Cash		(893	)		239
Net cash used in investing activities		(18,853	)		(42,750	)
Cash flows from financing activities:
Distribution of dividend		(7,186	)		-
Proceeds from employee stock options exercised		1,568			1,569
Payment to shareholders in respect of acquisition		(8,482	)		-
Dividend to non-controlling interest		(77	)		(106	)
Net cash provided by (used in) financing activities		(14,177	)		1,463
Effect of exchange rate changes on cash and cash equivalents		(459	)		(3,187	)
Increase (decrease) in cash and cash equivalents		6,951			(22,913	)
Cash and cash equivalents at the beginning of period		47,400			70,313
Cash and cash equivalents at the end of period		54,351			47,400

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