Latest news with #PerionOne
Business Wire
13-05-2025
- Business
- Business Wire
Perion Reports First Quarter 2025 Results, Raising Full Year 2025 Outlook
NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)-- Perion Network Ltd. (NASDAQ and TASE: PERI), a leader in advanced technology solving for the complexities of modern advertising, today reported its financial results for the first quarter ended March 31, 2025. 'Our strong start to the year is indicative that we have the right strategy to serve a customer base that can keep expanding as we go. Our key growth engines DOOH, CTV and Retail Media, delivered year-over-year improvement,' commented Tal Jacobson, Perion's CEO. 'With our strengthened leadership team in place, we are focused on better capturing growth opportunities and market share while enhancing our Perion One platform offering. I believe that 2025 will be a year of transformation for Perion, and we are gradually adding the necessary components to our existing capabilities through responsible acquisitions and focusing our R&D efforts on AI-enabled solutions.' Mr. Jacobson continued, 'Earlier today, we announced the acquisition of Greenbids. An advanced AI-first company that delivers real outcomes to top-tier brands. Through leveraging Greenbids' custom algorithmic capabilities, we expand our total addressable market, especially within the walled gardens, and better position ourselves to gain deeper access to performance advertising budgets. As the trusted partner for some of the most well-known consumer brands and advertising agencies in the world, we believe the Perion One platform will generate significant opportunities for greater customer retention, longer duration contracts, larger-scale customers, increased recurring revenue per customer, and ultimately a more efficient business structure.' Business & Financial Highlights Retail Media 1 revenue increased 33% year-over-year to $19.8 million, representing 22% of revenue compared to 9% last year. CTV revenue increased 31% year-over-year to $10.7 million, representing 12% of revenue compared to 5% last year. DOOH revenue increased 80% year-over-year to $17.4 million, representing 19% of revenue compared to 6% last year. Launched integration partnership with The Trade Desk, fostering deeper interoperability across the industry. Announced results for our Next-Gen AI-Powered Chatbot that Drives Double-Digit Engagement Lift Expanded share repurchase authorization to $125 million and initiated an accelerated repurchase program to support capital return strategy and enhance shareholder value. 1 Retail Media revenue includes all media channels, such as CTV, DOOH, video and others 2 Percent of revenue may not add up due to rounding Expand First Quarter 2025 Financial Highlights In millions, except per share data Three months ended March 31, 2025 2024 % Advertising Solutions Revenue $ 69.7 $ 75.8 (8%) Search Advertising Revenue $ 19.6 $ 82.0 (76%) Total Revenue $ 89.3 $ 157.8 (43%) Contribution ex-TAC (Revenue ex-TAC) 1 $ 39.7 $ 60.2 (34%) GAAP Net Income (loss) $ (8.3) $ 11.8 (171%) Non-GAAP Net Income 1 $ 5.4 $ 22.6 (76%) Adjusted EBITDA 1 $ 1.8 $ 20.3 (91%) Adjusted EBITDA to Contribution ex-TAC 1 5% 34% Net Cash from Operations $ (7.1) $ 6.9 (202%) Adjusted Free Cash Flow 1 $ (7.4) $ 6.5 (215%) GAAP Diluted EPS $ (0.19) $ 0.24 (179%) Non-GAAP Diluted EPS 1 $ 0.11 $ 0.44 (75%) Expand Financial Outlook for Full-Year 2025 2 'As a result of the organic growth we delivered in the first quarter, along with the highly synergistic acquisition of Greenbids, we are raising our full year 2025 revenue and adjusted EBITDA guidance. We are well-positioned to deliver improved, profitable results in 2025, driving greater long-term value for our shareholders,' Mr. Jacobson concluded. Based on current expectations, the Company is increasing its full-year 2025 outlook ranges: Revenue of $430 to $450 million Adjusted EBITDA 1 of $44 to $46 million Adjusted EBITDA 1 to contribution ex-TAC 1 of 22% at the midpoint 1 Contribution ex-TAC, non-GAAP Net Income, Adjusted EBITDA, adjusted Free Cash Flow and non-GAAP Diluted EPS are non-GAAP measures. See below reconciliation of GAAP to non-GAAP measures 2 Perion has not provided an outlook for GAAP Income from operations or reconciliation of Adjusted EBITDA guidance to GAAP Income from operations, the closest corresponding GAAP measure, because it does not provide guidance for certain of the reconciling items on a consistent basis due to the variability and complexity of these items, including but not limited to the measures and effects of stock-based compensation expenses directly impacted by unpredictable fluctuation in the share price and amortization in connection with future acquisitions. Hence, we are unable to quantify these amounts without unreasonable efforts Expand Share Repurchase program In March 2025, Perion's Board of Directors authorized a $50 million expansion of the previously authorized share repurchase program of $75 million of its outstanding shares, to a total of $125 million. During the first quarter of 2025, the company repurchased a total of 0.8 million shares at a total amount of $6.5 million. During the first quarter of 2025, the Company adopted an accelerated plan to further enhance the program's execution and shareholder return. Following the end of the first quarter and through May 12, the Company repurchased an additional 3 million shares at a total amount of over $26 million. As of May 12, 2025, the Company repurchased a total of 9 million shares, at a total amount of $79.3 million. Financial Comparison for the First Quarter of 2025 Revenue: Revenue decreased by 43% to $89.3 million in the first quarter of 2025 from $157.8 million in the first quarter of 2024. Advertising Solutions revenue decreased 8% year-over-year, accounting for 78% of total revenue, primarily due to a 28% decrease in our Web channel, partially offset by 80% increase in Digital Out of Home revenue and a 31% year-over-year increase in CTV revenue. Search Advertising revenue decreased by 76% year-over-year, accounting for 22% of revenue, following the previously announced changes implemented by Microsoft Bing in 2024. Traffic Acquisition Costs and Media Buy ('TAC'): TAC amounted to $49.7 million, or 56% of revenue, in the first quarter of 2025, compared with $97.6 million, or 62% of revenue, in the first quarter of 2024. The margin expansion was primarily due to changes in the product mix following the reduction in the Search business. GAAP Net Income: GAAP net income decreased by 171% to a loss of $8.3 million in the first quarter of 2025, compared with a GAAP net income of $11.8 million in the first quarter of 2024. GAAP net loss in the first quarter of 2025 includes $1.3 million restructuring costs resulting from the Perion One unification strategy. Non-GAAP Net Income: Non-GAAP net income was $5.4 million, or 6% of revenue, in the first quarter of 2025, compared with $22.6 million, or 14% of revenue, in the first quarter of 2024. A reconciliation of GAAP to non-GAAP net income is included in this press release. Adjusted EBITDA: Adjusted EBITDA was $1.8 million, or 2% of revenue (and 5% of Contribution ex-TAC) in the first quarter of 2025, compared with $20.3 million, or 13% of revenue (and 34% of Contribution ex-TAC) in the first quarter of 2024. A reconciliation of GAAP income from operations to Adjusted EBITDA is included in this press release. Cash Flow from Operations: Net cash used in operating activities in the first quarter of 2025 was $7.1 million, compared with $6.9 million that were generated in the first quarter of 2024. Operating cash flow was affected by the shift of approximately $8 million in customer collection from March 2025 to April 2025. Net cash: As of March 31, 2025, cash and cash equivalents, short-term bank deposits and marketable securities amounted to $358.5 million, compared with $373.3 million as of December 31, 2024. Conference Call Perion's management will host a conference call to discuss the results at 8:30 a.m. ET today: Registration link: A replay of the call and a transcript will be available within approximately 24 hours of the live event on Perion's website. Today, Tal Jacobson, Perion's CEO, shared an open letter with investors, clients, and employees. It is available on the Perion Website at: About Perion Network Ltd. Perion connects advertisers with consumers through technology across all major digital channels. Our cross-channel creative and technological strategies enable brands to maintain a powerful presence across the entire consumer journey, online and offline. Perion is dedicated to building an advertiser-centric universe, providing significant benefits to brands and publishers. For more information, visit Perion's website at Non-GAAP Measures Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude certain items. This press release includes certain non-GAAP measures, including Contribution ex-TAC and Adjusted EBITDA. Contribution ex-TAC presents revenue reduced by traffic acquisition costs and media buy, reflecting a portion of our revenue that must be directly passed to publishers or advertisers and presents our revenue excluding such items. We believe Contribution ex-TAC is a useful measure in assessing the performance of the Company because it facilitates a consistent comparison against our core business without considering the impact of traffic acquisition costs and media buy related to revenue reported on a gross basis. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ('Adjusted EBITDA') is defined as income from operations excluding stock-based compensation expenses, restructuring costs, unusual legal costs, depreciation, amortization of acquired intangible assets and retention and other acquisition-related expenses. Adjusted free cash flow is defined as net cash provided by (or used in) operating activities less cash used for the purchase of property and equipment, but excluding the purchase of property and equipment related to our new corporate headquarter, as we do not view this expense as reflective of our normal on-going expenses. It is important to note that this expense is in fact cash expenditures. Non-GAAP net income and non-GAAP diluted earnings per share are defined as net income and net earnings per share excluding stock-based compensation expenses, restructuring costs, unusual legal costs, retention and other acquisition-related expenses, amortization of acquired intangible assets and the related taxes thereon as well as foreign exchange gains and losses associated with ASC-842. The purpose of such adjustments is to give an indication of our performance exclusive of non-cash charges and other items that are considered by management to be outside of our core operating results. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Furthermore, the non-GAAP measures are regularly used internally to understand, manage and evaluate our business and make operating decisions, and we believe that they are useful to investors as a consistent and comparable measure of the ongoing performance of our business. However, our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, we are unable to quantify certain amounts that would be required for such presentation without unreasonable effort. Consequently, no reconciliation of the forward-looking non-GAAP financial measures is included in this press release. A reconciliation between results on a GAAP and non-GAAP basis is provided in the last table of this press release. Forward Looking Statements This press release contains historical information and forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe- harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of Perion. The words 'will,' 'believe,' 'expect,' 'intend,' 'plan,' 'should,' 'estimate' and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of Perion with respect to future events and are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Many factors could cause the actual results, performance or achievements of Perion to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, or financial information, including, but not limited to, political, economic and other developments (including the current war between Israel and Hamas and other armed groups in the region), the failure to realize the anticipated benefits of companies and businesses we acquired and may acquire in the future, risks entailed in integrating the companies and businesses we acquire, including employee retention and customer acceptance, the risk that such transactions will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of those businesses, and general risks associated with the business of Perion including, the transformation in our strategy, intended to unify our business units under the Perion brand (Perion One), intense and frequent changes in the markets in which the businesses operate and in general economic and business conditions (including the fluctuation of our share price), loss of key customers or of other partners that are material to our business, the outcome of any pending or future proceedings against Perion, data breaches, cyber-attacks and other similar incidents, unpredictable sales cycles, competitive pressures, market acceptance of new products and of the Perion One strategy, changes in applicable laws and regulations as well as industry self-regulation, negative or unexpected tax consequences, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, whether referenced or not referenced in this press release. We urge you to consider those factors, together with the other risks and uncertainties described in our most recent Annual Report on Form 20-F for the year ended December 31, 2024 as filed with the Securities and Exchange Commission (SEC) on March 25, 2025, and our other reports filed with the SEC, in evaluating our forward-looking statements and other risks and uncertainties that may affect Perion and its results of operations. Perion does not assume any obligation to update these forward-looking statements. PERION NETWORK LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS In thousands March 31, December 31, 2025 2024 (Unaudited) (Audited) ASSETS Current Assets Cash and cash equivalents $ 150,718 $ 156,228 Restricted cash 1,144 1,134 Short-term bank deposits 141,316 139,333 Marketable securities 66,448 77,774 Accounts receivable, net 151,527 164,358 Prepaid expenses and other current assets 19,551 22,638 Total Current Assets 530,704 561,465 Long-Term Assets Property and equipment, net 9,299 8,916 Operating lease right-of-use assets 19,354 20,209 Goodwill and intangible assets, net 313,089 316,003 Deferred taxes 5,209 8,517 Other assets 615 416 Total Long-Term Assets 347,566 354,061 Total Assets $ 878,270 $ 915,526 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable $ 97,708 $ 122,005 Accrued expenses and other liabilities 29,473 32,848 Short-term operating lease liability 3,445 3,648 Deferred revenue 1,391 2,049 Short-term payment obligation related to acquisitions 1,762 1,300 Total Current Liabilities 133,779 161,850 Long-Term Liabilities Long-term operating lease liability 18,152 18,654 Other long-term liabilities 10,743 12,082 Total Long-Term Liabilities 28,895 30,736 Total Liabilities 162,674 192,586 Shareholders' equity Ordinary shares 388 391 Additional paid-in capital 528,255 527,149 Treasury shares at cost (1,002 ) (1,002 ) Accumulated other comprehensive loss (316 ) (215 ) Retained earnings 188,271 196,617 Total Shareholders' Equity 715,596 722,940 Total Liabilities and Shareholders' Equity $ 878,270 $ 915,526 Expand PERION NETWORK LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS In thousands Three months ended March 31, 2025 2024 (Unaudited) (Unaudited) Cash flows from operating activities Net Income (loss) $ (8,346 ) $ 11,768 Adjustments required to reconcile net income to net cash provided by operating activities: Depreciation and amortization 3,472 4,558 Stock-based compensation expense 7,587 5,419 Foreign currency translation 10 22 Accrued interest, net 2,914 1,738 Deferred taxes, net 3,318 (432 ) Accrued severance pay, net (998 ) (158 ) Restructuring costs 1,322 - Gain from sale of property and equipment (24 ) (8 ) Net changes in operating assets and liabilities (16,305 ) (16,010 ) Net cash provided (used in) by operating activities $ (7,050 ) $ 6,897 Cash flows from investing activities Purchases of property and equipment, net of sales (1,698 ) (439 ) Investment in marketable securities, net of sales 11,571 (1,935 ) Short-term deposits, net (1,983 ) (17,689 ) Net cash provided by (used in) investing activities $ 7,890 $ (20,063 ) Cash flows from financing activities Proceeds from exercise of stock-based compensation 17 259 Purchase of treasury stock (6,501 ) - Net cash provided by (used in) financing activities $ (6,484 ) $ 259 Effect of exchange rate changes on cash and cash equivalents and restricted cash 144 (79 ) Net decrease in cash and cash equivalents and restricted cash (5,500 ) (12,986 ) Cash and cash equivalents and restricted cash at beginning of period 157,362 188,948 Cash and cash equivalents and restricted cash at end of period $ 151,862 $ 175,962 Expand PERION NETWORK LTD. AND ITS SUBSIDIARIES In thousands (except share and per share data) Three months ended March 31, 2025 2024 (Unaudited) Revenue $ 89,342 $ 157,820 Traffic acquisition costs and media buy 49,681 97,619 Contribution ex-TAC $ 39,661 $ 60,201 Expand Three months ended March 31, 2025 2024 (Unaudited) GAAP Income (loss) from Operations $ (13,027 ) $ 8,505 Stock-based compensation expenses 7,587 5,419 Retention and other acquisition related expenses 1,878 1,796 Unusual legal costs 564 - Amortization of acquired intangible assets 2,914 4,086 Restructuring costs 1,322 - Depreciation 558 472 Adjusted EBITDA $ 1,796 $ 20,278 Expand PERION NETWORK LTD. AND ITS SUBSIDIARIES In thousands (except share and per share data) Three months ended March 31, 2025 2024 (Unaudited) GAAP Net Income (loss) $ (8,346 ) $ 11,768 Stock-based compensation expenses 7,587 5,419 Amortization of acquired intangible assets 2,914 4,086 Retention and other acquisition related expenses 1,878 1,796 Unusual legal costs 564 - Restructuring costs 1,322 - Foreign exchange losses (gains) associated with ASC-842 (361 ) (11 ) Taxes on the above items (188 ) (498 ) Non-GAAP Net Income $ 5,370 $ 22,560 Non-GAAP diluted earnings per share $ 0.11 $ 0.44 Shares used in computing non-GAAP diluted earnings per share 49,056,439 50,981,658 Expand Three months ended March 31, 2025 2024 (Unaudited) Net cash provided (used in) by operating activities $ (7,050 ) $ 6,897 Purchases of property and equipment, net of sales (1,698 ) (439 ) Free cash flow $ (8,748 ) $ 6,458 Purchase of property and equipment related to our new corporate headquarter office 1,337 - Adjusted free cash flow $ (7,411 ) $ 6,458 Expand
Yahoo
13-05-2025
- Business
- Yahoo
Perion Reports First Quarter 2025 Results, Raising Full Year 2025 Outlook
Key Growth Engines Continue to Deliver Strong Organic Performance with 80% Growth in Digital Out of Home, 31% in CTV and 33% in Retail Media NEW YORK & TEL AVIV, Israel, May 13, 2025--(BUSINESS WIRE)--Perion Network Ltd. (NASDAQ and TASE: PERI), a leader in advanced technology solving for the complexities of modern advertising, today reported its financial results for the first quarter ended March 31, 2025. "Our strong start to the year is indicative that we have the right strategy to serve a customer base that can keep expanding as we go. Our key growth engines DOOH, CTV and Retail Media, delivered year-over-year improvement," commented Tal Jacobson, Perion's CEO. "With our strengthened leadership team in place, we are focused on better capturing growth opportunities and market share while enhancing our Perion One platform offering. I believe that 2025 will be a year of transformation for Perion, and we are gradually adding the necessary components to our existing capabilities through responsible acquisitions and focusing our R&D efforts on AI-enabled solutions." Mr. Jacobson continued, "Earlier today, we announced the acquisition of Greenbids. An advanced AI-first company that delivers real outcomes to top-tier brands. Through leveraging Greenbids' custom algorithmic capabilities, we expand our total addressable market, especially within the walled gardens, and better position ourselves to gain deeper access to performance advertising budgets. As the trusted partner for some of the most well-known consumer brands and advertising agencies in the world, we believe the Perion One platform will generate significant opportunities for greater customer retention, longer duration contracts, larger-scale customers, increased recurring revenue per customer, and ultimately a more efficient business structure." Business & Financial Highlights Retail Media1 revenue increased 33% year-over-year to $19.8 million, representing 22% of revenue compared to 9% last year. CTV revenue increased 31% year-over-year to $10.7 million, representing 12% of revenue compared to 5% last year. DOOH revenue increased 80% year-over-year to $17.4 million, representing 19% of revenue compared to 6% last year. Launched integration partnership with The Trade Desk, fostering deeper interoperability across the industry. Announced results for our Next-Gen AI-Powered Chatbot that Drives Double-Digit Engagement Lift Expanded share repurchase authorization to $125 million and initiated an accelerated repurchase program to support capital return strategy and enhance shareholder value. Revenue and Trends by channel2 Channels Q1 2025 Revenue % of Revenue YoYGrowth DOOH 17.4$ 19% 80% CTV 10.7$ 12% 31% Web 41.3$ 46% (28%) Search 19.6$ 22% (76%) Other 0.3$ 0% (21%) 1 Retail Media revenue includes all media channels, such as CTV, DOOH, video and others 2 Percent of revenue may not add up due to rounding First Quarter 2025 Financial Highlights In millions, except per share data Three months ended March 31, 2025 2024 % Advertising Solutions Revenue $ 69.7 $ 75.8 (8%) Search Advertising Revenue $ 19.6 $ 82.0 (76%) Total Revenue $ 89.3 $ 157.8 (43%) Contribution ex-TAC (Revenue ex-TAC)1 $ 39.7 $ 60.2 (34%) GAAP Net Income (loss) $ (8.3) $ 11.8 (171%) Non-GAAP Net Income1 $ 5.4 $ 22.6 (76%) Adjusted EBITDA1 $ 1.8 $ 20.3 (91%) Adjusted EBITDA to Contribution ex-TAC1 5% 34% Net Cash from Operations $ (7.1) $ 6.9 (202%) Adjusted Free Cash Flow1 $ (7.4) $ 6.5 (215%) GAAP Diluted EPS $ (0.19) $ 0.24 (179%) Non-GAAP Diluted EPS1 $ 0.11 $ 0.44 (75%) Financial Outlook for Full-Year 20252 "As a result of the organic growth we delivered in the first quarter, along with the highly synergistic acquisition of Greenbids, we are raising our full year 2025 revenue and adjusted EBITDA guidance. We are well-positioned to deliver improved, profitable results in 2025, driving greater long-term value for our shareholders," Mr. Jacobson concluded. Based on current expectations, the Company is increasing its full-year 2025 outlook ranges: Revenue of $430 to $450 million Adjusted EBITDA1 of $44 to $46 million Adjusted EBITDA1 to contribution ex-TAC1 of 22% at the midpoint 1 Contribution ex-TAC, non-GAAP Net Income, Adjusted EBITDA, adjusted Free Cash Flow and non-GAAP Diluted EPS are non-GAAP measures. See below reconciliation of GAAP to non-GAAP measures 2 Perion has not provided an outlook for GAAP Income from operations or reconciliation of Adjusted EBITDA guidance to GAAP Income from operations, the closest corresponding GAAP measure, because it does not provide guidance for certain of the reconciling items on a consistent basis due to the variability and complexity of these items, including but not limited to the measures and effects of stock-based compensation expenses directly impacted by unpredictable fluctuation in the share price and amortization in connection with future acquisitions. Hence, we are unable to quantify these amounts without unreasonable efforts Share Repurchase program In March 2025, Perion's Board of Directors authorized a $50 million expansion of the previously authorized share repurchase program of $75 million of its outstanding shares, to a total of $125 million. During the first quarter of 2025, the company repurchased a total of 0.8 million shares at a total amount of $6.5 million. During the first quarter of 2025, the Company adopted an accelerated plan to further enhance the program's execution and shareholder return. Following the end of the first quarter and through May 12, the Company repurchased an additional 3 million shares at a total amount of over $26 million. As of May 12, 2025, the Company repurchased a total of 9 million shares, at a total amount of $79.3 million. Financial Comparison for the First Quarter of 2025 Revenue: Revenue decreased by 43% to $89.3 million in the first quarter of 2025 from $157.8 million in the first quarter of 2024. Advertising Solutions revenue decreased 8% year-over-year, accounting for 78% of total revenue, primarily due to a 28% decrease in our Web channel, partially offset by 80% increase in Digital Out of Home revenue and a 31% year-over-year increase in CTV revenue. Search Advertising revenue decreased by 76% year-over-year, accounting for 22% of revenue, following the previously announced changes implemented by Microsoft Bing in 2024. Traffic Acquisition Costs and Media Buy ("TAC"): TAC amounted to $49.7 million, or 56% of revenue, in the first quarter of 2025, compared with $97.6 million, or 62% of revenue, in the first quarter of 2024. The margin expansion was primarily due to changes in the product mix following the reduction in the Search business. GAAP Net Income: GAAP net income decreased by 171% to a loss of $8.3 million in the first quarter of 2025, compared with a GAAP net income of $11.8 million in the first quarter of 2024. GAAP net loss in the first quarter of 2025 includes $1.3 million restructuring costs resulting from the Perion One unification strategy. Non-GAAP Net Income: Non-GAAP net income was $5.4 million, or 6% of revenue, in the first quarter of 2025, compared with $22.6 million, or 14% of revenue, in the first quarter of 2024. A reconciliation of GAAP to non-GAAP net income is included in this press release. Adjusted EBITDA: Adjusted EBITDA was $1.8 million, or 2% of revenue (and 5% of Contribution ex-TAC) in the first quarter of 2025, compared with $20.3 million, or 13% of revenue (and 34% of Contribution ex-TAC) in the first quarter of 2024. A reconciliation of GAAP income from operations to Adjusted EBITDA is included in this press release. Cash Flow from Operations: Net cash used in operating activities in the first quarter of 2025 was $7.1 million, compared with $6.9 million that were generated in the first quarter of 2024. Operating cash flow was affected by the shift of approximately $8 million in customer collection from March 2025 to April 2025. Net cash: As of March 31, 2025, cash and cash equivalents, short-term bank deposits and marketable securities amounted to $358.5 million, compared with $373.3 million as of December 31, 2024. Conference Call Perion's management will host a conference call to discuss the results at 8:30 a.m. ET today: Registration link: A replay of the call and a transcript will be available within approximately 24 hours of the live event on Perion's website. Today, Tal Jacobson, Perion's CEO, shared an open letter with investors, clients, and employees. It is available on the Perion Website at: About Perion Network Ltd. Perion connects advertisers with consumers through technology across all major digital channels. Our cross-channel creative and technological strategies enable brands to maintain a powerful presence across the entire consumer journey, online and offline. Perion is dedicated to building an advertiser-centric universe, providing significant benefits to brands and publishers. For more information, visit Perion's website at Non-GAAP Measures Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude certain items. This press release includes certain non-GAAP measures, including Contribution ex-TAC and Adjusted EBITDA. Contribution ex-TAC presents revenue reduced by traffic acquisition costs and media buy, reflecting a portion of our revenue that must be directly passed to publishers or advertisers and presents our revenue excluding such items. We believe Contribution ex-TAC is a useful measure in assessing the performance of the Company because it facilitates a consistent comparison against our core business without considering the impact of traffic acquisition costs and media buy related to revenue reported on a gross basis. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") is defined as income from operations excluding stock-based compensation expenses, restructuring costs, unusual legal costs, depreciation, amortization of acquired intangible assets and retention and other acquisition-related expenses. Adjusted free cash flow is defined as net cash provided by (or used in) operating activities less cash used for the purchase of property and equipment, but excluding the purchase of property and equipment related to our new corporate headquarter, as we do not view this expense as reflective of our normal on-going expenses. It is important to note that this expense is in fact cash expenditures. Non-GAAP net income and non-GAAP diluted earnings per share are defined as net income and net earnings per share excluding stock-based compensation expenses, restructuring costs, unusual legal costs, retention and other acquisition-related expenses, amortization of acquired intangible assets and the related taxes thereon as well as foreign exchange gains and losses associated with ASC-842. The purpose of such adjustments is to give an indication of our performance exclusive of non-cash charges and other items that are considered by management to be outside of our core operating results. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Furthermore, the non-GAAP measures are regularly used internally to understand, manage and evaluate our business and make operating decisions, and we believe that they are useful to investors as a consistent and comparable measure of the ongoing performance of our business. However, our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, we are unable to quantify certain amounts that would be required for such presentation without unreasonable effort. Consequently, no reconciliation of the forward-looking non-GAAP financial measures is included in this press release. A reconciliation between results on a GAAP and non-GAAP basis is provided in the last table of this press release. Forward Looking Statements This press release contains historical information and forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe- harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of Perion. The words "will," "believe," "expect," "intend," "plan," "should," "estimate" and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of Perion with respect to future events and are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Many factors could cause the actual results, performance or achievements of Perion to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, or financial information, including, but not limited to, political, economic and other developments (including the current war between Israel and Hamas and other armed groups in the region), the failure to realize the anticipated benefits of companies and businesses we acquired and may acquire in the future, risks entailed in integrating the companies and businesses we acquire, including employee retention and customer acceptance, the risk that such transactions will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of those businesses, and general risks associated with the business of Perion including, the transformation in our strategy, intended to unify our business units under the Perion brand (Perion One), intense and frequent changes in the markets in which the businesses operate and in general economic and business conditions (including the fluctuation of our share price), loss of key customers or of other partners that are material to our business, the outcome of any pending or future proceedings against Perion, data breaches, cyber-attacks and other similar incidents, unpredictable sales cycles, competitive pressures, market acceptance of new products and of the Perion One strategy, changes in applicable laws and regulations as well as industry self-regulation, negative or unexpected tax consequences, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, whether referenced or not referenced in this press release. We urge you to consider those factors, together with the other risks and uncertainties described in our most recent Annual Report on Form 20-F for the year ended December 31, 2024 as filed with the Securities and Exchange Commission (SEC) on March 25, 2025, and our other reports filed with the SEC, in evaluating our forward-looking statements and other risks and uncertainties that may affect Perion and its results of operations. Perion does not assume any obligation to update these forward-looking statements. PERION NETWORK LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS In thousands (except share and per share data) Three months ended March 31, 2025 2024 (Unaudited) (Unaudited) Revenue Advertising Solutions $ 69,705 $ 75,786 Search Advertising 19,637 82,034 Total Revenue 89,342 157,820 Costs and Expenses Cost of revenue 12,341 11,485 Traffic acquisition costs and media buy 49,681 97,619 Research and development 8,452 9,811 Selling and marketing 17,725 16,090 General and administrative 9,376 9,752 Depreciation and amortization 3,472 4,558 Restructuring costs and other charges 1,322 - Total Costs and Expenses 102,369 149,315 Income (loss) from Operations (13,027 ) 8,505 Financial income, net 3,407 5,486 Income (loss) before Taxes on income (9,620 ) 13,991 Taxes on income (tax benefit) (1,274 ) 2,223 Net Income (loss) $ (8,346 ) $ 11,768 Net Earnings (loss) per Share Basic $ (0.19 ) $ 0.24 Diluted $ (0.19 ) $ 0.24 Weighted average number of shares Basic 44,866,925 48,256,697 Diluted 44,866,925 49,541,695 PERION NETWORK LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS In thousands March 31, December 31, 2025 2024 (Unaudited) (Audited) ASSETS Current Assets Cash and cash equivalents $ 150,718 $ 156,228 Restricted cash 1,144 1,134 Short-term bank deposits 141,316 139,333 Marketable securities 66,448 77,774 Accounts receivable, net 151,527 164,358 Prepaid expenses and other current assets 19,551 22,638 Total Current Assets 530,704 561,465 Long-Term Assets Property and equipment, net 9,299 8,916 Operating lease right-of-use assets 19,354 20,209 Goodwill and intangible assets, net 313,089 316,003 Deferred taxes 5,209 8,517 Other assets 615 416 Total Long-Term Assets 347,566 354,061 Total Assets $ 878,270 $ 915,526 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable $ 97,708 $ 122,005 Accrued expenses and other liabilities 29,473 32,848 Short-term operating lease liability 3,445 3,648 Deferred revenue 1,391 2,049 Short-term payment obligation related to acquisitions 1,762 1,300 Total Current Liabilities 133,779 161,850 Long-Term Liabilities Long-term operating lease liability 18,152 18,654 Other long-term liabilities 10,743 12,082 Total Long-Term Liabilities 28,895 30,736 Total Liabilities 162,674 192,586 Shareholders' equity Ordinary shares 388 391 Additional paid-in capital 528,255 527,149 Treasury shares at cost (1,002 ) (1,002 ) Accumulated other comprehensive loss (316 ) (215 ) Retained earnings 188,271 196,617 Total Shareholders' Equity 715,596 722,940 Total Liabilities and Shareholders' Equity $ 878,270 $ 915,526 PERION NETWORK LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS In thousands Three months ended March 31, 2025 2024 (Unaudited) (Unaudited) Cash flows from operating activities Net Income (loss) $ (8,346 ) $ 11,768 Adjustments required to reconcile net income to net cash provided by operating activities: Depreciation and amortization 3,472 4,558 Stock-based compensation expense 7,587 5,419 Foreign currency translation 10 22 Accrued interest, net 2,914 1,738 Deferred taxes, net 3,318 (432 ) Accrued severance pay, net (998 ) (158 ) Restructuring costs 1,322 - Gain from sale of property and equipment (24 ) (8 ) Net changes in operating assets and liabilities (16,305 ) (16,010 ) Net cash provided (used in) by operating activities $ (7,050 ) $ 6,897 Cash flows from investing activities Purchases of property and equipment, net of sales (1,698 ) (439 ) Investment in marketable securities, net of sales 11,571 (1,935 ) Short-term deposits, net (1,983 ) (17,689 ) Net cash provided by (used in) investing activities $ 7,890 $ (20,063 ) Cash flows from financing activities Proceeds from exercise of stock-based compensation 17 259 Purchase of treasury stock (6,501 ) - Net cash provided by (used in) financing activities $ (6,484 ) $ 259 Effect of exchange rate changes on cash and cash equivalents and restricted cash 144 (79 ) Net decrease in cash and cash equivalents and restricted cash (5,500 ) (12,986 ) Cash and cash equivalents and restricted cash at beginning of period 157,362 188,948 Cash and cash equivalents and restricted cash at end of period $ 151,862 $ 175,962 PERION NETWORK LTD. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS In thousands (except share and per share data) Three months ended March 31, 2025 2024 (Unaudited) Revenue $ 89,342 $ 157,820 Traffic acquisition costs and media buy 49,681 97,619 Contribution ex-TAC $ 39,661 $ 60,201 Three months ended March 31, 2025 2024 (Unaudited) GAAP Income (loss) from Operations $ (13,027 ) $ 8,505 Stock-based compensation expenses 7,587 5,419 Retention and other acquisition related expenses 1,878 1,796 Unusual legal costs 564 - Amortization of acquired intangible assets 2,914 4,086 Restructuring costs 1,322 - Depreciation 558 472 Adjusted EBITDA $ 1,796 $ 20,278 PERION NETWORK LTD. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS In thousands (except share and per share data) Three months ended March 31, 2025 2024 (Unaudited) GAAP Net Income (loss) $ (8,346 ) $ 11,768 Stock-based compensation expenses 7,587 5,419 Amortization of acquired intangible assets 2,914 4,086 Retention and other acquisition related expenses 1,878 1,796 Unusual legal costs 564 - Restructuring costs 1,322 - Foreign exchange losses (gains) associated with ASC-842 (361 ) (11 ) Taxes on the above items (188 ) (498 ) Non-GAAP Net Income $ 5,370 $ 22,560 Non-GAAP diluted earnings per share $ 0.11 $ 0.44 Shares used in computing non-GAAP diluted earnings per share 49,056,439 50,981,658 Three months ended March 31, 2025 2024 (Unaudited) Net cash provided (used in) by operating activities $ (7,050 ) $ 6,897 Purchases of property and equipment, net of sales (1,698 ) (439 ) Free cash flow $ (8,748 ) $ 6,458 Purchase of property and equipment related to our new corporate headquarter office 1,337 - Adjusted free cash flow $ (7,411 ) $ 6,458 View source version on Contacts Perion Network Musler, VP of Investor Relations+972 (54) 7876785dudim@
Business Wire
13-05-2025
- Business
- Business Wire
Perion Acquires an Advanced AI Company to Accelerate Market Share Expansion and Growth
NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)-- Perion Network Ltd. (NASDAQ and TASE: PERI), a leader in advanced technology solving for the complexities of modern advertising, today announced the acquisition of Greenbids, a cutting-edge AI platform that creates custom algorithms for campaign-level optimization across walled garden platforms such as YouTube, Facebook and Instagram, as well as leading DSPs such as Google DV360 and The Trade Desk. The acquisition strengthens Perion's ability to deliver custom, performance-based advertising at scale, unlocking new revenue opportunities and increasing its ability to gain market share. It is expected to drive higher client retention and positively contribute to Perion's revenue and adjusted EBITDA already this year. Greenbids' technology creates custom bidding algorithms, specifically tailored for each brand, aligning every campaign with the KPIs that matter most to their business. It ensures that media investments are more efficient, performance-driven, and accountable. This not only improves outcomes but also gives brands greater control and transparency over how their budgets are spent. Greenbids brings a robust and growing client base of over 80 brands already using its platform, including Spotify, Ford, and Accor. Spotify leveraged Greenbids' technology for their Wrapped Annual Marketing Initiative across 16 EMEA markets to enhance campaign performance at scale while reducing environmental impact, demonstrating how smart custom algorithms can drive both results and responsibility. Perion will bring this technology globally to leverage its U.S. presence in over 30 countries and deep relationships with agencies and advertisers. Lara Faguais, Head of Global media partnerships & strategy at Accor shared: 'At Accor, we're always looking to partner with companies that embody innovation, creativity and performance. With Greenbids, we found a unique opportunity to reduce our carbon emissions while improving media campaign performance. The results speak for themselves—so much so that we've expanded the collaboration across multiple countries, multiple brands and channels.' This acquisition expands Perion's addressable market significantly by adding walled garden channels such as YouTube, Facebook, and Instagram, together with AI-driven lower-funnel capabilities, complementing its existing strength in top and mid-funnel environments, including CTV, DOOH, and the open web. Greenbids' technology will be embedded into the Perion One platform, positioning Perion to capture a greater share of performance budgets and drive higher retention through brand-specific optimization at scale. Tal Jacobson, Perion's CEO said: 'We see the acquisition of Greenbids as a quantum leap for the Perion One platform capabilities. We are taking another important step forward in advancing Perion One as the platform of choice for brands and agencies where media investment perfectly aligns with brand outcomes. Greenbids' technology adds a powerful layer of algorithmic intelligence tailored to each brand's unique goals. Combined with Perion's multi-channel reach, we now have a scalable advantage that can deliver optimized performance, which is specifically meaningful to advertisers and brands in uncertain financial environments, as we focus on reducing waste and increasing ROI on media spend.' 'We are excited to welcome the Greenbids team of industry experts to Perion and look forward to working together to unlock greater value for our clients and shareholders,' Jacobson added. 'It's important to note that the Greenbids product will be implemented immediately into the Perion Suite of solutions under the new name of Perion Algo, and the team will become part of the Perion team at day one, which will reduce any PMI challenges as these solutions continue to scale, and enabling our Sales team to introduce these solutions to a broader market quickly.' Guillaume Grimbert, CEO and co-founder of Greenbids, said: 'In the past year, we started to hear more and more about Perion from Brands we interacted with which made us curious to understand their new solutions, which is now the Perion One Platform, and that initiated our initial partnership that led to this transaction. Joining Perion allows us to bring our technology into a company that shares our vision for smarter and more sustainable advertising. Together, we have a powerful opportunity to scale advertising intelligence globally and help more brands achieve meaningful business outcomes with greater transparency and impact.' Transaction terms The transaction terms include $27.5 million in cash paid upon closing, a two-year cash earnout of $22.5 million, and a 3-year employee retention of $15 million in cash and equity. This deal structure reflects Perion's disciplined M&A approach — securing immediate access to transformative AI technology and a blue-chip client base while tying future consideration to performance and integration milestones. The earnout incentivizes continued growth and value delivery, ensuring strong alignment with Perion's strategy. Moreover, the retention component aimed to guarantee continuity of Greenbids' highly skilled team, who will support a successful integration and accelerate the combined offering. In addition to the strategic rationale, the transaction is expected to be accretive to Perion's adjusted EBITDA and margins from day one. While initial integration begins immediately, the contribution to both adjusted EBITDA and revenue is expected to significantly accelerate from 2026 onward, driven by incremental synergies across technology, go-to-market, and scalability. By embedding Greenbids' advanced AI algorithm into the Perion One platform and leveraging existing infrastructure, we believe that Perion can enhance efficiency, expand its addressable market, and increase customer retention. By minimizing upfront risk and maximizing long-term upside, this transaction structure positions Perion to extract strategic and financial value from day one. Greenbids was advised by LUMA Partners. About Perion Network Ltd. Perion is helping agencies, brands and retailers get better results with their marketing investments by providing advanced technology across digital channels. Through the Perion One platform, we are making digital advertising more effective by building solutions that continuously adapt to connect the dots between data, creative and channels. For more information, visit Perion's website at About Greenbids Greenbids is an AI-powered media buying optimization platform, purpose-built to bring clarity, performance, and intelligence back to digital advertising. It integrates seamlessly with leading ad platforms, including Programmatic, Meta, and YouTube to improve media quality, boost efficiency, and maximize return on investment. Greenbids helps top advertisers simplify execution, eliminate supply chain inefficiencies, and future-proof their marketing strategies for smarter, faster, and more sustainable results. Forward Looking Statements This press release contains historical information and forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe- harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of Perion. The words 'will,' 'believe,' 'expect,' 'intend,' 'plan,' 'should,' 'estimate' and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of Perion with respect to future events and are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Many factors could cause the actual results, performance or achievements of Perion to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, or financial information, including, but not limited to, political, economic and other developments (including the current war between Israel and Hamas and other armed groups in the region), the failure to realize the anticipated benefits of companies and businesses we acquired and may acquire in the future, risks entailed in integrating the companies and businesses we acquire, including employee retention and customer acceptance, the risk that such transactions will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of those businesses, and general risks associated with the business of Perion including, the transformation in our strategy, intended to unify our business units under the Perion brand (Perion One), intense and frequent changes in the markets in which the businesses operate and in general economic and business conditions (including the fluctuation of our share price), loss of key customers or of other partners that are material to our business, the outcome of any pending or future proceedings against Perion, data breaches, cyber-attacks and other similar incidents, unpredictable sales cycles, competitive pressures, market acceptance of new products and of the Perion One strategy, changes in applicable laws and regulations as well as industry self-regulation, negative or unexpected tax consequences, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, whether referenced or not referenced in this press release. We urge you to consider those factors, together with the other risks and uncertainties described in our most recent Annual Report on Form 20-F for the year ended December 31, 2024 as filed with the Securities and Exchange Commission (SEC) on March 25, 2025, and our other reports filed with the SEC, in evaluating our forward-looking statements and other risks and uncertainties that may affect Perion and its results of operations. Perion does not assume any obligation to update these forward-looking statements.
Business Wire
23-04-2025
- Business
- Business Wire
Perion Unveils Performance Results of Next-Gen AI-Powered Ad Experience, Driving Double-Digit Engagement Lift
NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)-- Perion Network Ltd. (NASDAQ and TASE: PERI), a leader in advanced technology solving for the complexities of modern advertising, shares the performance results of its groundbreaking ad experience powered by generative AI. This new capability enables advertisers to integrate a bespoke AI chatbot directly into their ad formats, delivering real-time, personalized interactions and elevating user engagement. The first-of-its-kind experience was debuted by Visit Savannah, achieving a 14% increase in user engagement, demonstrating the transformative potential of this technology. The ad experience, served via one of Perion's High Impact formats, integrates an advanced generative AI chatbot designed to interact seamlessly with users. The chatbot provides instant responses to both pre-programmed topics and free-form questions, creating a dynamic, hyper-personalized experience tailored to brand-specific objectives. 'There's truly nothing like this in advertising today,' said Tal Jacobson, CEO of Perion. 'This innovative integration bridges the gap between advertising and conversational AI, providing brands with a unique opportunity to engage consumers on a deeper, more meaningful level. It's a perfect example of how Perion uses cutting-edge technology to lead the industry forward.' Visit Savannah, a key launch partner, utilized the chatbot to enhance its interactive ad campaign, delivering hyper-personalized content to tourists planning their trips. 'This tool has allowed us to engage with our audience in ways we couldn't have imagined, offering instant, accurate answers and a seamless interaction that reflects the heart of our brand. The boost in customer engagement has been impressive,' said Angela Westerfield, Chief Marketing Officer at Visit Savannah. Perion recently introduced its Perion One strategy, bringing together its brands and technologies into a unified, AI-powered platform. Designed to address modern marketing challenges, Perion One represents a major milestone in the company's evolution. The latest addition to this expanding suite of AI-driven solutions is chatbot integration, joining innovations like SORT®, a privacy-safe targeting technology, and WAVE™, a dynamic audio ad technology. For more information about Perion's Generative AI Chatbot ad experience, please leave a message at About Perion Network Ltd. Perion is helping agencies, brands and retailers get better results with their marketing investments by providing advanced technology across digital channels. Through the Perion One platform, we are making digital advertising more effective by building solutions that continuously adapt to connect the dots between data, creative and channels. For more information, visit Perion's website at About Visit Savannah Visit Savannah serves as the official destination marketing organization for the Savannah / Chatham County area and is committed to driving increased visitor spending, economic vitality, and quality of life for the region while continually building upon Savannah's image as a world-class destination. For more information, visit Forward Looking Statements This press release contains historical information and forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe- harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of Perion. The words 'will,' 'believe,' 'expect,' 'intend,' 'plan,' 'should,' 'estimate' and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of Perion with respect to future events and are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Many factors could cause the actual results, performance or achievements of Perion to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, or financial information, including, but not limited to, political, economic and other developments (including the current war between Israel and Hamas and other armed groups in the region), the failure to realize the anticipated benefits of companies and businesses we acquired and may acquire in the future, risks entailed in integrating the companies and businesses we acquire, including employee retention and customer acceptance, the risk that such transactions will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of those businesses, and general risks associated with the business of Perion including, the transformation in our strategy, intended to unify our business units under the Perion brand (Perion One), intense and frequent changes in the markets in which the businesses operate and in general economic and business conditions (including the fluctuation of our share price), loss of key customers or of other partners that are material to our business, the outcome of any pending or future proceedings against Perion, data breaches, cyber-attacks and other similar incidents, unpredictable sales cycles, competitive pressures, market acceptance of new products and of the Perion One strategy, changes in applicable laws and regulations as well as industry self-regulation, negative or unexpected tax consequences, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, whether referenced or not referenced in this press release. We urge you to consider those factors, together with the other risks and uncertainties described in our most recent Annual Report on Form 20-F for the year ended December 31, 2024 as filed with the Securities and Exchange Commission (SEC) on March 25, 2025, and our other reports filed with the SEC, in evaluating our forward-looking statements and other risks and uncertainties that may affect Perion and its results of operations. Perion does not assume any obligation to update these forward-looking statements.
Yahoo
23-04-2025
- Business
- Yahoo
Perion Unveils Performance Results of Next-Gen AI-Powered Ad Experience, Driving Double-Digit Engagement Lift
Visit Savannah sees a significant engagement boost with Perion's hyper-personalized generative AI chatbot technology NEW YORK & TEL AVIV, Israel, April 23, 2025--(BUSINESS WIRE)--Perion Network Ltd. (NASDAQ and TASE: PERI), a leader in advanced technology solving for the complexities of modern advertising, shares the performance results of its groundbreaking ad experience powered by generative AI. This new capability enables advertisers to integrate a bespoke AI chatbot directly into their ad formats, delivering real-time, personalized interactions and elevating user engagement. The first-of-its-kind experience was debuted by Visit Savannah, achieving a 14% increase in user engagement, demonstrating the transformative potential of this technology. The ad experience, served via one of Perion's High Impact formats, integrates an advanced generative AI chatbot designed to interact seamlessly with users. The chatbot provides instant responses to both pre-programmed topics and free-form questions, creating a dynamic, hyper-personalized experience tailored to brand-specific objectives. "There's truly nothing like this in advertising today," said Tal Jacobson, CEO of Perion. "This innovative integration bridges the gap between advertising and conversational AI, providing brands with a unique opportunity to engage consumers on a deeper, more meaningful level. It's a perfect example of how Perion uses cutting-edge technology to lead the industry forward." Visit Savannah, a key launch partner, utilized the chatbot to enhance its interactive ad campaign, delivering hyper-personalized content to tourists planning their trips. "This tool has allowed us to engage with our audience in ways we couldn't have imagined, offering instant, accurate answers and a seamless interaction that reflects the heart of our brand. The boost in customer engagement has been impressive," said Angela Westerfield, Chief Marketing Officer at Visit Savannah. Perion recently introduced its Perion One strategy, bringing together its brands and technologies into a unified, AI-powered platform. Designed to address modern marketing challenges, Perion One represents a major milestone in the company's evolution. The latest addition to this expanding suite of AI-driven solutions is chatbot integration, joining innovations like SORT®, a privacy-safe targeting technology, and WAVE™, a dynamic audio ad technology. For more information about Perion's Generative AI Chatbot ad experience, please leave a message at About Perion Network Ltd. Perion is helping agencies, brands and retailers get better results with their marketing investments by providing advanced technology across digital channels. Through the Perion One platform, we are making digital advertising more effective by building solutions that continuously adapt to connect the dots between data, creative and channels. For more information, visit Perion's website at About Visit Savannah Visit Savannah serves as the official destination marketing organization for the Savannah / Chatham County area and is committed to driving increased visitor spending, economic vitality, and quality of life for the region while continually building upon Savannah's image as a world-class destination. For more information, visit Forward Looking Statements This press release contains historical information and forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe- harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to the business, financial condition and results of operations of Perion. The words "will," "believe," "expect," "intend," "plan," "should," "estimate" and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views, assumptions and expectations of Perion with respect to future events and are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Many factors could cause the actual results, performance or achievements of Perion to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, or financial information, including, but not limited to, political, economic and other developments (including the current war between Israel and Hamas and other armed groups in the region), the failure to realize the anticipated benefits of companies and businesses we acquired and may acquire in the future, risks entailed in integrating the companies and businesses we acquire, including employee retention and customer acceptance, the risk that such transactions will divert management and other resources from the ongoing operations of the business or otherwise disrupt the conduct of those businesses, and general risks associated with the business of Perion including, the transformation in our strategy, intended to unify our business units under the Perion brand (Perion One), intense and frequent changes in the markets in which the businesses operate and in general economic and business conditions (including the fluctuation of our share price), loss of key customers or of other partners that are material to our business, the outcome of any pending or future proceedings against Perion, data breaches, cyber-attacks and other similar incidents, unpredictable sales cycles, competitive pressures, market acceptance of new products and of the Perion One strategy, changes in applicable laws and regulations as well as industry self-regulation, negative or unexpected tax consequences, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, whether referenced or not referenced in this press release. We urge you to consider those factors, together with the other risks and uncertainties described in our most recent Annual Report on Form 20-F for the year ended December 31, 2024 as filed with the Securities and Exchange Commission (SEC) on March 25, 2025, and our other reports filed with the SEC, in evaluating our forward-looking statements and other risks and uncertainties that may affect Perion and its results of operations. Perion does not assume any obligation to update these forward-looking statements. View source version on Contacts Perion Network Musler, VP of Investor Relations+972 (54) 7876785dudim@ Sign in to access your portfolio
