EL7.AI
StocksMedium•25 August 2026•
1 min read

Formula Systems Reports Record Q2 2026 Results with Surge in Net Income

Key Facts

1Formula Systems' Q2 revenues increased by 29.8% to a record-breaking $782.4 million.
2Net income attributable to shareholders grew by 54.6% year-over-year to $23.3 million.

In a move reflecting strong operational performance across tech holding entities, Formula Systems announced record-breaking financial results for the second quarter of 2026. According to reports, the company's revenues increased by 29.8% to reach an all-time high of $782.4 million during the quarter. Net income attributable to shareholders also saw a substantial year-over-year surge of 54.6%, reaching $23.3 million, driven by significant growth in both top-line and bottom-line figures.

The results were bolstered by the performance of subsidiary units, with Matrix reporting record second-quarter revenues of approximately $718.3 million, representing a 6.3% increase when measured in New Israeli Shekels. Additionally, Michpal Technologies contributed positively with revenue growth of 31.2% to approximately $21.6 million, while its adjusted net income attributable to shareholders nearly doubled to $5.5 million, per market and analyst data.

Looking ahead, the company continues to strengthen its financial position, with Michpal holding a cash position of $89.5 million to advance its acquisition strategy following the Zviran Group deal in April 2026.