[PERFICIENT October 31, 2023 Reconciliation of Adjusted GAAP Measures Low end of adjusted goal Low end of adjusted goal GAAP EPS $ 0.64 $ 0.69 $ 2.74 $ 2.79 Non-GAAP reconciling items 0.44 0.44 1.56 1.56 Adjusted EPS $ 0.98 $ 1.03 $ 3.94 $ 3.99 GAAP fully diluted shares 36.7 36.7 Dilution offset from convertible note hedge transactions (2.4) (2.4) 3 (2) Non-GAAP adjustment represents the exclusion of shares that are issuable upon conversion of our convertible notes due to the expectation that shares relatin ...

Company Participants Conference Call Participants Thank you for standing by. And welcome to PerficientÂ's Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Jeff Davis Paul Martin At times during this call, we will refer to adjusted EPS and adjusted EBITDA. Our earnings press release, including a reconciliation of certain non-GAAP financial measures to the most direc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Large accelerated filer | þ | Accelerated filer | ☐ | | --- | --- | --- | --- | | Non-accelerated filer | ☐ | Smaller reporting company | ☐ | | Emerging growth company | ☐ | | | If an emergi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-15169 PERFICIENT, INC. (Exact name of registrant as specified in its charter) Delaware No. 74-2853258 (State or other jurisdictio ...

Revenue Growth - Total revenues increased by 19% to $905.1 million for the year ended December 31, 2022, compared to $761.0 million for the year ended December 31, 2021[142]. - Services revenues rose by 19% to $902.4 million, with $84.6 million attributed to base business resources and $59.1 million from acquired companies[143]. Cost and Expenses - Total cost of revenues increased by 18% to $552.7 million, with services costs as a percentage of services revenues decreasing to 61.2% from 61.8%[145]. - Selling, general and administrative (SG&A) expenses increased by 12% to $171.1 million, with SG&A as a percentage of revenues decreasing from 20% to 19%[146]. - Salary expenses within SG&A rose by 16% to $61.9 million, while variable compensation expenses decreased by 43% to $8.6 million[147]. - Depreciation expense increased by 33% to $8.5 million, representing 0.9% of total revenues for the year ended December 31, 2022[147]. - Amortization expense rose by 5% to $24.5 million, accounting for 2.7% of total revenues, primarily due to intangibles from acquisitions[148]. Strategic Plans - The company aims to expand its relationships with existing and new clients and continue a disciplined acquisition strategy for future growth[135]. - The company plans to leverage offshore and nearshore capabilities to support growth and provide flexible project delivery options[135]. Acquisition and Costs - Acquisition-related costs for 2022 were $3.7 million, slightly down from $3.8 million in 2021, primarily related to acquisitions of Inflection Point and Ameex[149]. Financial Performance - Net interest expense decreased significantly to $3.2 million in 2022 from $14.1 million in 2021, attributed to the adoption of ASU 2020-06[151]. - The effective income tax rate increased to 25.9% in 2022 from 16.6% in 2021, mainly due to reduced stock compensation deductions and research credit benefits[153]. - Net cash provided by operating activities rose to $118.1 million in 2022, compared to $84.9 million in 2021, driven by a net income of $104.4 million[156]. - Cash and cash equivalents as of December 31, 2022, were $30.1 million, up from $24.4 million in 2021[154]. - The company used $71.9 million for acquisitions in 2022, down from $108.8 million in 2021[157]. - The stock repurchase program was expanded to $375.0 million, with approximately $279.8 million repurchased since inception[164]. - Total debt increased to $394.6 million as of December 31, 2022, from $326.1 million in 2021[167]. - The company had $199.8 million of unused borrowing capacity under its credit facility as of December 31, 2022[162]. - The company believes its available funds and cash flows will be sufficient to meet working capital requirements for the next 12 months[173]. Revenue Recognition - The company's revenues consist of services and software and hardware sales, recognized when control is transferred to clients[175]. - Professional services revenues are recognized over time, with most projects billed on a time and materials basis[178]. - Revenues from third-party software and hardware sales are recorded on a net basis, while revenues from internally developed software sales are recorded on a gross basis[182]. - The company estimates variable consideration based on historical experience and forecasted sales, including it in the transaction price[179]. - The company structures its professional services arrangements to recover the cost of reimbursable expenses without a markup[181]. Tax and Financial Position - The company evaluates uncertain tax positions and adjusts related tax assets and liabilities each quarter based on changing facts and circumstances[193]. - For the year ended December 31, 2022, key unobservable inputs for acquisitions included revenue growth rates ranging from 16% to 43%[186]. - The company had unrestricted cash and cash equivalents totaling $30.1 million at December 31, 2022, up from $24.4 million at December 31, 2021[200]. - As of December 31, 2022, there was no outstanding balance and $199.8 million of available borrowing capacity under the credit facility[198]. - The fair value of the 2025 Notes and 2026 Notes was approximately $33.8 million and $295.5 million, respectively, as of December 31, 2022[199].

(Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q For the transition period from to Commission file number: 001-15169 PERFICIENT, INC. (Exact name of registrant as specified in its charter) Delaware No. 74-2853258 (State or other jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-15169 PERFICIENT, INC. (Exact name of registrant as specified in its charter) Delaware No. 74-2853258 (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K Saint Louis, Missouri 63141 (Mark one) ☑ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2021 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 001-15169 PERFICIENT, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware No. 74-2853258 (State or other jurisdiction of incorpor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-15169 PERFICIENT, INC. (Exact name of registrant as specified in its charter) Delaware No. 74-2853258 (State or other jurisdi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-15169 PERFICIENT, INC. (Exact name of registrant as specified in its charter) Delaware No. 74-2853258 (State or other jurisdiction ...