Formula Systems (1985) .(FORTY) - 2023 Q1 - Quarterly Report

Exhibit 99.1 PRESS RELEASE Formula Systems Reports First Quarter 2023 Financial Results: Revenues for the First Quarter Increased by 3% Year Over Year to a Record-Breaking $670.4 Million. Operating Income for the First Quarter Increased by 2.3$60.8 million. Or Yehuda, Israel, May 23, 2023 – Formula Systems (1985) Ltd. (Nasdaq and TASE: FORTY) ("Formula" or the "Company"), a global information technology group engaged, through its subsidiaries and affiliates, in providin ...