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Perion Network (PERI) FY Conference Transcript
2025-08-13 14:55
Perion Network (PERI) FY Conference August 13, 2025 09:55 AM ET Speaker0Good morning, everyone, and thank you for joining us for the fireside chat with Perion Network. I'm Jason Alfstein, head of Internet research at Oppenheimer. Very excited to have CEO Tal Jacobsen and chief revenue officer Steven Yap. Gentlemen, thanks for joining me. So the format, fireside, if anyone online has some questions, there's a box you can put in, and I can ask your question or email me at jason.healthscene@opco.com.So, gentle ...
Perion Network (PERI) FY Conference Transcript
2025-08-12 13:00
Perion Network (PERI) FY Conference August 12, 2025 08:00 AM ET Speaker0Can I get started? Good morning, everyone, and welcome to the first session of the day. I'm Maria Ripps, Internet analyst here at Canaccord Genuity, and I'm joined today by my colleague, Matt Weber. And it's our pleasure to introduce Tal Jakobson, Current's CEO. Tal, thank you so much for joining us today.Speaker1Thank you for having me.Speaker0Awesome. Maybe just to start, your company went through quite a transformation over the past ...
Perion(PERI) - 2025 Q2 - Earnings Call Transcript
2025-08-11 13:30
Financial Data and Key Metrics Changes - Revenue for the second quarter was $103 million, marking an 8% year-over-year increase in advertising solutions revenue [24] - Adjusted EBITDA was $7.1 million, resulting in a 7% adjusted EBITDA margin and a 15% ex TAC margin [24][29] - Non-GAAP net income was $12 million, resulting in non-GAAP diluted earnings per share of 26 cents [24][30] - Operating cash flow generated was $21.3 million, reflecting the strength of the business model [31] Business Line Data and Key Metrics Changes - Advertising solutions business returned to year-over-year growth for the first time since 2023, driven by strong performance in digital out of home, retail media, and web [20] - Digital out of home revenue increased by 35% year-over-year, now accounting for 17% of total revenue, up from 12% last year [25] - Retail media generated $22.3 million in the second quarter, representing a 27% year-over-year increase [22] - CTV revenue declined by 5% year-over-year, representing 9% of total revenue, attributed to budget shifts to the second half of the year [25][30] Market Data and Key Metrics Changes - The company expanded its programmatic digital out of home footprint in APAC and EMEA, with new partnerships in Korea, Germany, and Italy [11] - The U.S. market for CTV is projected to exceed $36 billion in ad spend by 2026, with the company expecting to capture a greater share [13] Company Strategy and Development Direction - The company is focused on becoming a centralized platform for CMOs, with the Perion One strategy aimed at integrating all technologies and brands under one unified platform [5][8] - The strategic shift towards Perion One has been in planning since late 2023, involving long-term transformation and product evolution [6] - The company aims to improve speed and efficiency while deepening global adoption across brands, agencies, and retailers, unlocking long-term growth and margin leverage [8] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about CTV growth despite a slight decline, expecting a strong annual performance as budgets shift back [21][49] - The company is confident in its ability to execute and drive long-term shareholder value, operating in a high-growth industry with proven innovation culture [18] - The full-year revenue guidance remains in the range of $430 million to $450 million, with adjusted EBITDA expected between $44 million and $46 million [33] Other Important Information - The company acquired Greenbids, an AI-first company, to enhance its offerings and optimize performance [7][22] - A new performance CTV solution was launched, integrating high-impact technology with performance metrics [12][13] - The company has a strong cash balance of $318.5 million, providing financial flexibility for growth opportunities and capital returns to shareholders [31][33] Q&A Session Summary Question: Regarding the 5% decline in CTV - Management attributed the decline to budget shifts rather than an industry-wide issue, noting that CTV budgets are expected to shift back in the second half of the year [36][39] Question: Changes in campaign lengths among marketers - Management has not observed any major changes in campaign lengths, indicating that business continues as usual despite economic concerns [42] Question: Confidence in CTV growth in the back half of the year - Management expressed confidence in CTV growth, expecting to outpace the market growth of approximately 13% [49] Question: Sales organization alignment with Perion One - Management indicated that the sales organization is being optimized for efficiency, with potential headcount growth expected but not on a large scale [50] Question: Use of cash over the next six months - Management plans to continue share buybacks and is evaluating M&A opportunities while maintaining a balance between growth and capital returns [51][52] Question: Impact of AI search on web revenue - Management acknowledged potential risks from AI search but emphasized a focus on delivering outcomes for advertisers regardless of channel [61][64] Question: Targeting mid-market customers with performance CTV - Management clarified that there are no immediate plans for self-serve features for mid-market customers, focusing instead on larger agencies and holding companies [68]
Perion(PERI) - 2025 Q2 - Earnings Call Presentation
2025-08-11 12:30
Investor Presentation Q2 2025 August 11, 2025 Forward Looking Statements This presentation 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," "esti ...
Perion Network (PERI) FY Conference Transcript
2025-05-13 17:45
Summary of Perion Network (PERI) FY Conference Call - May 13, 2025 Company Overview - Perion Network has transitioned into a full-stack platform for Chief Marketing Officers (CMOs), similar to how other roles have dedicated platforms like Salesforce for CROs and Jira for CTOs [1][3] - The company aims to connect various technologies rather than replace them, recently announcing an integration partnership with Trade Desk [2] Key Points Business Strategy and Market Position - Perion is focusing on enhancing its platform to provide a unified solution for CMOs, allowing them to manage campaigns from planning to execution and reporting [3][20] - The company has acquired an AI-first company to improve its capabilities in closed gardens like YouTube and Facebook, significantly expanding its total addressable market [4][18] - The shift in advertising budgets from brand awareness to performance is a critical focus, with 80% of agency budgets now coming from social media [8][9] Financial Performance - Perion reported a significant improvement in its open web numbers, which were down 26-28% previously but are expected to grow again [5][49] - The company has seen increased spending from existing customers and is attracting new clients, aided by the acquisition of GreenBits, which has enhanced their performance capabilities [50][51] Technology and Innovation - The company emphasizes the need for a unified platform that integrates various advertising channels, including CTV and digital out-of-home (DOOH) [20][59] - Perion's SORT technology, which started as a unique ID solution, has evolved to focus on outcomes rather than just user identification, providing a competitive advantage [96][102] Competitive Landscape - Perion differentiates itself from competitors like Trade Desk by focusing on creative optimization through Dynamic Creative Optimization (DCO) and integrating various data sources [110][113] - The company believes that being closer to advertisers who control budgets is more advantageous than merely managing inventory [132] Future Outlook - The management team is optimistic about the future, with a strong pipeline and backlog of potential business opportunities [51][52] - The focus on AI and technology advancements is expected to drive efficiency and growth, with no immediate plans to increase employee numbers [134] Additional Insights - The conversation highlighted the importance of bridging the gap between CMOs and CFOs, emphasizing that CMOs need to demonstrate the ROI of their campaigns in terms that CFOs understand [16][24] - The discussion also touched on the evolving landscape of digital advertising, where traditional metrics like CTR and viewability are being replaced with more meaningful business outcomes [15][20] This summary encapsulates the key discussions and insights from the Perion Network FY Conference Call, reflecting the company's strategic direction, financial performance, and competitive positioning in the advertising technology landscape.
Perion(PERI) - 2025 Q1 - Earnings Call Presentation
2025-05-13 14:19
Investor Presentation Q1 2025 May 13, 2025 Forward Looking Statements This presentation 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," "estimat ...
Perion(PERI) - 2025 Q1 - Earnings Call Transcript
2025-05-13 13:32
Perion Network (PERI) Q1 2025 Earnings Call May 13, 2025 08:30 AM ET Company Participants Tal Jacobson - CEO & DirectorElad Tzubery - Chief Financial OfficerJason Helfstein - MD & Head - InternetAndrew Marok - Director Conference Call Participants Eric Martinuzzi - Senior Research AnalystJeff Martin - Director of Research & Senior Research Analyst Operator Hello, everybody, and welcome to the Perion Network Q1 twenty twenty five Earnings Conference Call. Today's conference is being recorded and an archive o ...
Perion(PERI) - 2025 Q1 - Earnings Call Transcript
2025-05-13 13:32
Perion Network (PERI) Q1 2025 Earnings Call May 13, 2025 08:30 AM ET Company Participants Tal Jacobson - CEO & DirectorElad Tzubery - Chief Financial OfficerJason Helfstein - MD & Head - InternetAndrew Marok - Director Conference Call Participants Eric Martinuzzi - Senior Research AnalystJeff Martin - Director of Research & Senior Research Analyst Operator Hello, everybody, and welcome to the Perion Network Q1 twenty twenty five Earnings Conference Call. Today's conference is being recorded and an archive o ...
Perion(PERI) - 2025 Q1 - Earnings Call Transcript
2025-05-13 13:30
Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $89.3 million, exceeding initial expectations due to strong performance in CTV and digital out of home channels [18] - Adjusted EBITDA for Q1 2025 was $1.8 million, also higher than expectations, reflecting operational control and margin discipline [19] - On a GAAP basis, the net loss for Q1 2025 was $8.3 million, compared to a net income of $11.8 million in Q1 2024 [23] - Non-GAAP net income for Q1 2025 was $5.4 million, down from $22.6 million in Q1 2024 [23] - Cash position remains strong with nearly $360 million in net cash [19] Business Line Data and Key Metrics Changes - Digital out of home revenue grew by 80% year over year, now representing 19% of total revenue, up from 6% last year [21] - CTV revenue increased by 31% year over year, representing 12% of total revenue compared to 5% last year [21] - Retail media vertical grew by 33% year over year, outperforming the broader market [17] - Web revenue declined by 28% year over year, now representing 46% of total revenue compared to 37% in the same quarter last year [21] Market Data and Key Metrics Changes - The company noted a healthy pipeline going into the rest of 2025, contributing to the stabilization of web revenue [34] - The acquisition of GreenBids is expected to expand the total addressable market into new lower funnel performance opportunities [26] Company Strategy and Development Direction - The company is focused on building Perion One as an outcome-driven platform to create long-term value for CMOs and shareholders [6] - The acquisition of GreenBids is seen as a significant leap forward, enhancing technology and expanding capabilities in walled garden platforms [12][26] - The company is committed to investing in customers, people, and technology to drive long-term value [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to return to a high cash flow conversion rate and maintain a strong financial position [24] - The guidance for full year 2025 has been raised, reflecting improved outlook and stronger market position [28] - Management highlighted the importance of performance-based campaigns in the current market environment [63] Other Important Information - The company has expanded its share repurchase program to $125 million, reinforcing long-term confidence in its value [25] - The integration of GreenBids technology into Perion One is expected to happen immediately, with significant contributions anticipated in 2026 [45] Q&A Session Summary Question: What factors contributed to the increased guidance? - Management indicated that strong Q1 performance and the acquisition of GreenBids allowed for the increase in guidance, with a healthy pipeline contributing to future growth [34] Question: What is the expected impact of the GreenBids acquisition on revenue? - Management stated that while GreenBids is already profitable, the full impact of the acquisition will be seen in 2026, with synergies contributing to growth [40][41] Question: How is the message of the PerionOne platform being received by CMOs? - Management reported positive responses from CMOs regarding the unified offering and the custom algorithm through AI, indicating a strong market need [52] Question: What is the strategy to capitalize on the expanded total addressable market? - Management emphasized the importance of performance-based campaigns and the ability to reduce waste in advertising spend, which aligns with current market trends [59][63]
Perion Network (PERI) Tops Q1 Earnings and Revenue Estimates
ZACKS· 2025-05-13 13:26
分组1 - Perion Network reported quarterly earnings of $0.11 per share, exceeding the Zacks Consensus Estimate of $0.09 per share, but down from $0.44 per share a year ago, representing an earnings surprise of 22.22% [1] - The company posted revenues of $89.34 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.53%, but down from $157.82 million year-over-year [2] - Perion Network has outperformed the S&P 500, with shares increasing about 13% since the beginning of the year, while the S&P 500 declined by -0.6% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.19 on revenues of $91.83 million, and for the current fiscal year, it is $1.01 on revenues of $410.17 million [7] - The Zacks Industry Rank for Internet - Content is in the bottom 33% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - PodcastOne, Inc., another company in the same industry, is expected to report a quarterly loss of $0.04 per share, with revenues projected at $12.96 million, reflecting a year-over-year increase of 10.7% [9]