Perion's (NASDAQ: PERI ) Q3 results were weaker than my expectations, which I had outlined in my previous article following its Q2 results. Despite the strong performance in its newer growth businesses, the company continuesAn individual investor primarily focused on undercovered companies, with more than 50 companies on my watchlist. My areas include technology, software, electronics and the energy transition. I have been investing my personal capital for over 7 years in a broad range of companies globally ...

Exhibit 99.1 Perion Reports Third Quarter 2024 Results Growth engines continue to excel: Digital Out of Home (DOOH), Retail media and CTV grew 63%1, 62% and 19% year-over-year, respectively New York & Tel Aviv– November 6, 2024 – Perion Network Ltd. (NASDAQ and TASE: PERI), a technology leader in connecting advertisers to consumers across all major digital channels, today reported its financial results for the third quarter ended September 30, 2024. "Third-quarter results were in line with our expectations ...

VTT Studio/iStock via Getty Images Introduction Perion Network (NASDAQ:PERI) reported its Q2 '24 results, so I wanted to go through them and give some comments on the situation and update on my position. The quarter wasn't bad in my opinion, with decent promise in diversification efforts, however, the company still has a lot to do to regain investor confidence. I am downgrading to a buy for now. The last time I covered the company was back in April when I said the company's financial position was solid, the ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $108.7 million, a decrease of 39% year-over-year [47] - Adjusted EBITDA amounted to $7.7 million, a decrease of 81% year-over-year, resulting in a 7% adjusted EBITDA margin [47] - GAAP net loss was $6.2 million, compared to a net income of $21.4 million in Q2 2023 [49] - Non-GAAP net income was $13.4 million, a year-over-year decrease of 68% [49] - Operating cash flow for Q2 was negative $20.5 million, compared to $47.4 million in the same period last year [90] Business Line Data and Key Metrics Changes - CTV business grew by 42% year-over-year to $10.2 million, representing 14% of advertising solutions revenue [6] - Digital out-of-home revenue grew by 41% year-over-year to $13 million, representing 18% of advertising solutions revenue [6][48] - Retail media vertical increased 75% year-over-year to $17.6 million, significantly outpacing the expected market growth of 26% [48] - Search advertising revenue was $34.3 million, a decrease of 57% year-over-year due to changes in Microsoft's advertising pricing mechanisms [89] Market Data and Key Metrics Changes - The global digital advertising market is expected to reach $700 billion in 2024 and grow to over $900 billion within three years [40] - The expected market growth for digital out-of-home is 11% in 2024, while the company achieved 41% growth [6] Company Strategy and Development Direction - The company aims to leverage its strong cash position to capture market share in the digital advertising market [5] - The focus is on integrating various advertising solutions to provide a holistic experience for brands [42] - The company is transitioning from being viewed as an advertising company to a technology company, emphasizing technological solutions [67] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges due to changes in Microsoft's search distribution marketplace, which significantly impacted the search business [46] - The company expects to stabilize around current revenue levels and aims for sustainable profitable growth in the coming years [34][91] - Management expressed confidence in the company's ability to navigate challenges and leverage technological advantages [58] Other Important Information - The company made significant changes in its executive team, with Maoz Sigron promoted to Chief Operating Officer and Elad Tzubery promoted to Chief Financial Officer [45][62] - The company executed a $20 million share buyback program during the quarter [61] Q&A Session Summary Question: Is the take rate the right pricing model or should the company pivot to an agency-type model? - Management clarified that the company does not view itself as an agency but as a technological layer that connects advertisers and agencies [67] Question: What are the M&A goals given the current stock performance and cash flow situation? - Management stated that they are focused on acquiring profitable companies that align with their technology strategy [71] Question: Can you provide more detail on the retail media business and its components? - Management confirmed that their retail media solutions are omni-channel, integrating various advertising platforms [75] Question: What factors contributed to the decline in open web video revenue? - Management indicated that the decline was primarily due to market dynamics and internal adjustments, including the impact of ContentIQ [34][66] Question: What are the expectations for cash generation in the second half of 2024? - Management expects to generate positive cash flow and is focused on cash generation strategies [31][71]

Perion Network (PERI) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for non-recurring items. Perion Network, which belongs to the Zacks Internet - Content industry, posted revenues of $108.69 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.60%. This compares to year-ago revenues of $178.47 million. The company has topped con ...

Perion Network (NASDAQ:PERI) layoffs are coming for the company's employees as it seeks to streamline its operations. According to Perion Network, these layoffs are the result of Microsoft (NASDAQ:MSFT) changing the advertising revenue around its Bing search engine. This led to lower revenue for the company and required its cost-cutting measures. Before this change, a large part of the company's revenue came from its collaboration with Microsoft. With this change, it will only account for less than 5% of Pe ...

NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Perion Network Ltd. (NASDAQ: PERI) between February 9, 2021 and April 5, 2024, both dates inclusive (the "Class Period"), of the important June 17, 2024 lead plaintiff deadline. SO WHAT: If you purchased Perion common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. ...

https://securitiesclasslaw.com/securities/perion-network-loss-submission-form/?id=85479&from=4 ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Perion's search advertising business was not a reliable and significant growth driver and was in fact in decline; (2) Perion's long-term relationship with Microsoft and search services agreement would not provide stability for Perion's search advertisi ...

NEW YORK, June 12, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Perion Network Ltd. ("Perion" or the "Company") (NASDAQ:PERI) and reminds investors of the June 17, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you purchased or acquired securities in Perion between February 9, 2021 and April 5, 2024 and would like to discuss your legal rights, ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Perion To Contact Him Directly To Discuss Their Options As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Perion's search advertising business was not a reliable and significant growth driver and was in fact in decline; (2) Perion's long ...