Perion Network Ltd - PERI STOCK NEWS

Perion Network Ltd. (NASDAQ: PERI), a leading global advertising technology company, has announced an Investor Day on March 8, 2021, starting at 10:00 a.m. Eastern Time. The event will showcase Perion's Capture & Convince growth strategy with discussions involving top partners and customers. A live video webcast will be available, and registration is required. Additionally, a replay of the presentations will be accessible on the Company's investor relations website following the event.

Undertone has announced the expansion of its audience data for ad targeting by incorporating Fyllo’s cannabis and CBD audience segments. This partnership enables enhanced targeting for marketers in consumer categories such as CPG, QSR, Pharma, Alcohol, and Retail, tapping into a previously inaccessible consumer group. The cannabis market has shown considerable growth, with 61 million US adults now consuming cannabis or CBD regularly. This data is expected to provide significant opportunities for brands across various sectors.

Perion Network Ltd. (NASDAQ: PERI) reported its fourth quarter and full-year 2020 financial results, showcasing significant revenue growth. Revenues for Q4 reached $118.3 million, a 51% increase year-over-year, driven primarily by a 159% surge in Display and Social Advertising revenues at $68.4 million. However, Search Advertising revenues dipped 4% to $49.9 million. Full-year revenues rose 25% to $328.1 million. The company achieved a GAAP net income of $9.0 million for Q4, up 53% from the previous year. Management anticipates revenue of $350 million to $370 million in 2021.

Undertone has launched a new brand narrative that emphasizes its capability to integrate art and science in advertising. The company will now provide 'Intelligent High Impact' solutions, including Interactive CTV, enhancing its product suite. This initiative aims to break the 'attention wall' and improve campaign effectiveness across multiple screens. President Dan Aks highlighted the company's 20-year digital media experience and its commitment to leveraging AI for precise advertising strategies. The rebranding includes a new website and marketing materials to better reflect this evolution.

Perion Network Ltd. (NASDAQ: PERI) successfully closed its public offering on January 22, 2021, selling 5,738,500 ordinary shares at $11.50 each. This upsized offering generated approximately $66 million in gross proceeds. The funds will be used for working capital, business growth, and potential acquisitions. Eyal Kaplan, Chairman, emphasized investor confidence in Perion's growth strategy. The offering was managed by Oppenheimer & Co. and Stifel, with additional co-managers and advisors involved. The company is focused on enhancing its position in the digital advertising ecosystem.

Perion Network Ltd. (NASDAQ: PERI) has announced the pricing of a follow-on public offering of 4,990,000 ordinary shares at $11.50 per share, generating gross proceeds of $57.4 million, up from a previously anticipated $50 million. The offering, with a 30-day underwriters' option for an additional 748,500 shares, is set to close on January 22, 2021. The company plans to use the proceeds for working capital and potential mergers or acquisitions. The shares are being offered under an effective shelf registration statement with the SEC.

Perion Network Ltd. (NASDAQ: PERI) has announced preliminary results for Q4 and full year 2020, expecting revenues of $110-$115 million for Q4 and $320-$325 million for the year, surpassing earlier estimates. Adjusted EBITDA is projected between $14.5-$15 million for Q4 and $32-$32.5 million for the year, also exceeding prior guidance. GAAP EPS is forecasted at $0.17-$0.19 for Q4 and $0.22-$0.24 for the year, while Non-GAAP EPS is estimated at $0.35-$0.36 for Q4 and $0.80-$0.82 for the year. Final results may vary.

Perion Network Ltd. (NASDAQ: PERI) has launched a proposed follow-on public offering of approximately $50 million of its ordinary shares under an effective shelf registration statement with the SEC. The company plans to grant underwriters a 30-day option for additional shares. Proceeds will be used for working capital, business growth, and potential mergers or acquisitions. Oppenheimer & Co. and Stifel, Nicolaus & Company are acting as joint book-running managers.

Perion Network Ltd. (NASDAQ: PERI) announced it will release its financial results for Q4 and the full year 2020 on February 9, 2021, before market opening. CEO Doron Gerstel and CFO Maoz Sigron will discuss these results in a conference call at 8:30 AM ET. Interested parties can join by dialing specific numbers or accessing a webcast. Additionally, management will participate in the 23rd Annual Needham Virtual Growth Conference on January 11-12, where a presentation by the CEO will be shared. For more details, visit the company's website.