Perion Network Ltd. - PERI STOCK NEWS

Perion Network (NASDAQ & TASE: PERI) reported its Q2 2024 financial results, highlighting significant growth in key areas. The company saw a 75% YoY increase in Retail Media revenue, 42% YoY growth in CTV Advertising, and 41% YoY growth in Digital Out of Home (DOOH) Advertising on a proforma basis. However, total revenue decreased by 39% to $108.7 million, with Search Advertising revenue declining by 57%. The company reported a GAAP net loss of $6.2 million, compared to a net income of $21.4 million in Q2 2023. Perion reiterated its full-year 2024 guidance, projecting revenue between $490 to $510 million and Adjusted EBITDA of $48 to $52 million. The company also announced leadership changes, with the current CFO, Maoz Sigron, being promoted to COO, and Elad Tzubery promoted to CFO, both effective August 1, 2024.

Perion Network (NASDAQ & TASE: PERI), a leading provider of digital advertising technology, announced that it will release its second quarter 2024 financial results on July 31, 2024, before the financial markets open.

CEO Tal Jacobson and CFO Maoz Sigron will discuss the results during a conference call at 8:30 a.m. ET on the same day.

Interested parties can register for the call or access the replay and transcript, which will be available within 24 hours on Perion's investor website.

Perion Network (NASDAQ: PERI) has updated its Q2 and full-year 2024 financial guidance. Microsoft Bing's recent decision to exclude certain publishers from its search distribution marketplace will reduce Perion's search revenue to under 5% in the latter half of 2024. Additionally, advertising pricing changes and a decline in standard video and display formats have impacted revenues. Perion forecasts Q2 revenue of $106-$108 million and adjusted EBITDA of $6.5-$7.5 million. For FY 2024, revenue is projected at $490-$510 million with adjusted EBITDA of $48-$52 million. The company remains focused on expanding its AI-driven advertising solutions globally, particularly in CTV, Retail Media, and programmatic DOOH.

Perion Network announced the launch of Hivestack’s ‘Green Curated Deals’ for Digital Out-of-Home (DOOH) advertising on a global scale. This solution uses Scope3 emissions data to provide lower carbon ad inventory, allowing advertisers to run environmentally friendly campaigns. The Green Curated Deals are exclusively available on Hivestack Curate, Perion's proprietary platform, and leverage Scope3's emissions model to optimize decarbonization of media and advertising. Perion’s new offering aims to enhance campaign effectiveness while reducing the carbon footprint, featuring a scoring model that prioritizes low-emission inventory.

Perion's CEO, Tal Jacobson, emphasized the company's commitment to sustainability, highlighting the integration with Scope3 to drive greener ad campaigns. The initiative aligns with industry trends demanding reduced emissions and increased decarbonization, promising advertisers enhanced performance and budget efficiency.

Perion Network (NASDAQ and TASE: PERI) reported a 9% YoY revenue growth for the first quarter of 2024, with significant growth in CTV Advertising, Retail Media, and Digital Out of Home Advertising. Despite challenges in advertising pricing and mechanisms, Perion remains confident in its strategic positioning and expansion of technological advertising solutions. The company's financial highlights show growth in revenue from Search Advertising and a decrease in GAAP Net Income. Perion announced an increase in its share repurchase program and provided guidance for the second quarter and full year 2024.

Perion Network (PERI) files its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the SEC. The report includes audited financial statements for the year and is now accessible online. Shareholders can also request a hard copy at no extra cost.

Perion Network updates full-year 2024 guidance and increases buyback program from $50 million to $75 million. The company experienced a decline in Search Advertising activity due to changes in Microsoft Bing's advertising pricing. Q1 2024 revenue and adjusted EBITDA are expected to be $157 million and $20 million, respectively. For full-year 2024, revenue and adjusted EBITDA are projected to be $590-$610 million and $78-$82 million, respectively. Perion aims to expand Display Advertising activities and strengthen its position in the digital advertising landscape.

Perion Network Ltd. (PERI) partners with Way.io to provide access to premium Digital Out of Home (DOOH) inventory in China through Hivestack, aiming to tap into the $5.2B DOOH market by 2024. The collaboration allows Way.io to activate programmatic DOOH campaigns globally, leveraging Hivestack's extensive network of screens and impressions. The partnership signifies Perion's commitment to expanding its global footprint and offering innovative media advertising formats.

Perion Network Ltd. (PERI) announces participation in upcoming investor conferences to engage with investors and present at a fireside chat. The company will attend Raymond James 45th Annual Institutional Investors Conference on March 5 and 36th Annual ROTH Conference on March 18. Investors can schedule one-on-one meetings with management, and a live webcast of the Raymond James conference will be available on the company's website.