Perion Network Ltd. - PERI STOCK NEWS

Perion Network Ltd. (NASDAQ: PERI) announced a six-month transition period for its CEO, with Tal Jacobson, current General Manager of CodeFuel, set to assume the role on August 1, 2023. This change follows the departure of Doron Gerstel from the executive team, while he will stay on the Board of Directors. Jacobson has been credited with significant achievements in enhancing search advertising and establishing strong partnerships, particularly with Microsoft Advertising. The Board anticipates continued growth under Jacobson’s leadership, focusing on expanding Perion’s technological innovations in the advertising technology sector.

Perion Network Ltd. plans to announce its fourth quarter 2022 financial results on February 8, 2023, and will participate in the 25th Annual Needham Growth Conference on January 11, 2023. Preliminary results indicate significant growth, with Q4 2022 revenue of $205 million, a 30% increase year-over-year. Adjusted EBITDA also rose to $47 million, reflecting a 63% growth compared to Q4 2021. The company attributes its performance to strong market demand and a growing number of publishers using its monetization platform, which increased by 25% to 260 year-over-year.

Perion Network Ltd. (NASDAQ:PERI) announced its CTV advertising solution is gaining traction due to increased demand during FIFA World Cup Qatar 2022. The company reports strong interest from sectors like sports betting and video games, leveraging its High-Impact CTV ads to maximize engagement. CEO Doron Gerstel highlighted that these ads drive four times the site visits compared to regular CTV, underscoring their effectiveness. As the tournament shifts viewing patterns, Perion's offerings are well-positioned to capitalize on heightened viewer engagement and brand visibility.

Perion Network Ltd. (NASDAQ: PERI) reported record third-quarter results for 2022, with a 31% revenue increase to $158.6 million compared to the previous year. The company raised its adjusted EBITDA guidance from $102 million to at least $120 million, driven by sustainable profitability improvements. Key highlights include a 145% year-over-year rise in operating cash flow to nearly $35 million and a GAAP net income increase of 141% to $25.6 million. The company's strategic focus on diversifying advertising solutions is reflected in significant growth across video and search advertising revenues.

Perion Network Ltd. (NASDAQ: PERI) announced its preliminary financial results for Q3 2022, showing a 31% year-over-year revenue growth, reaching $158 million. Adjusted EBITDA soared 76% to $31 million, reflecting robust performance driven by its diversification strategy and SORT™ technology that attracts major advertisers like Mercedes. The financial results will be officially released on November 9, 2022, ahead of a conference call at 8:30 a.m. ET. These results indicate the company’s ongoing growth trajectory amidst challenging market conditions.

Perion Network Ltd. announced the successful results of a digital ad campaign in collaboration with Mercedes-Benz USA, utilizing its SORT™ technology. This proprietary solution outperformed traditional online advertising methods, achieving a 58% higher click-through rate compared to third-party cookies and contextual targeting. The campaign aimed to boost awareness and sales of CPO vehicles, generating significant traffic to the CPO landing page. Mercedes-Benz reported a 70% increase in brand interactions through this innovative, privacy-focused approach.

Perion Network Ltd. (NASDAQ: PERI) has appointed Ben Flaccus as Managing Director of Retail for Undertone. Flaccus, who previously served as a consultant, brings nearly two decades of advertising technology experience. His leadership is expected to enhance product development and partnerships, focusing on personalized advertising solutions for retail and CPG sectors. Flaccus aims to leverage Undertone's high-impact ad formats to drive improved returns for clients, emphasizing real-time content and relevant ad experiences.

Perion Network Ltd. (NASDAQ: PERI), a global advertising technology firm, will participate in two significant events: the Jefferies Israel Tech Trek on September 22 in Tel Aviv and the Lake Street BIG6 Conference on September 14 in New York. Management will engage in one-on-one meetings with investors at both conferences. These events showcase Perion's focus on digital advertising across ad search, social media, and display, highlighting its integrated solutions designed to benefit brands and publishers.