Perion Network Ltd. - PERI STOCK NEWS

Perion Network Ltd. (Nasdaq: PERI) announced a breakthrough in cookieless advertising through its proprietary technology, SORT (Smart Optimization of Responsive Traits), which outperforms traditional cookie-based methods. With a strong focus on user privacy in light of evolving regulations, this innovation utilizes AI to enhance targeting across all devices. The technology was independently certified by Neutronian, confirming superior campaign performance metrics compared to cookies. The launch aims to address increased advertising demand while ensuring privacy compliance.

Perion Network Ltd. (NASDAQ: PERI) will release its financial results for the third quarter ended September 30, 2021, on Tuesday, October 26, 2021, before market opening. A conference call will be hosted by management at 8:30 a.m. ET on the same day via Zoom to discuss these results. As a global advertising technology company, Perion integrates multiple digital advertising channels, including interactive connected television, enhancing their diversified marketing strategies. This broad approach positions Perion to capitalize on changing advertising budgets.

Perion Network Ltd. (NASDAQ: PERI) has announced the acquisition of Vidazoo, a video technology company, for $93.5 million. This includes $35 million in cash at closing and up to $58.5 million as an earn-out based on performance targets. Perion anticipates that this deal will enhance its video advertising business and raise its revenue guidance for 2021 and 2022. Vidazoo generated $31.9 million in revenue in 2020, with a projected 41% growth rate for 2021, and its adjusted EBITDA for 2021 is expected to reach $8 million.

On August 24, 2021, Undertone, a subsidiary of Perion Network Ltd. (Nasdaq: PERI), announced its latest innovation, Shoppable High Impact, in collaboration with SmartCommerce. This technology allows consumers to add products directly to their retail carts with a single click on Undertone's ads, enhancing the online shopping experience. Notably, a trial demonstrated a carting rate of nearly 3%, translating to over 27,000 items added. The initiative aims to streamline digital shopping and improve brand performance while providing real-time stock updates.

Perion Network Ltd. (NASDAQ:PERI), a leading global advertising technology firm, announced its participation in two upcoming investor conferences. On August 11, 2021, the company will be featured at the Oppenheimer 24th Annual Technology, Internet and Communications Conference, with CEO Doron Gerstel presenting from 8:15-8:55 AM ET. The next day, August 12, 2021, it will participate in the Canaccord Genuity 41st Annual Growth Virtual Conference, with Gerstel presenting at 8:30-8:55 AM ET. Perion aims to enhance brand engagement through synchronized digital branding across multiple platforms.

Perion Network Ltd. (NASDAQ: PERI) reported strong Q2 2021 results, with total revenues increasing by 82% to $109.7 million. Advertising revenue surged 211%, primarily from video and CTV adoption, while search advertising grew 24%. The company achieved a GAAP net income of $7.1 million, up 416% year-over-year. Perion narrowed its 2021 revenue guidance to $415-$430 million and introduced 2022 guidance of $490-$520 million, highlighting robust business momentum and a strong cash position of $141 million with zero debt.

Perion Network Ltd. (NASDAQ: PERI) reported preliminary Q2 2021 results, showing total revenues of approximately $105 million, a 74% increase year-over-year. Adjusted EBITDA reached $13.5 million, marking a 440% growth compared to the same quarter last year. The company has raised its full-year revenue guidance to $410-$430 million, driven by strong performance in advertising solutions, particularly in video and CTV advertising. The CEO highlighted growth as a validation of their diversification strategy.

Perion Network Ltd. (NASDAQ:PERI) announced a new division under its Undertone brand, focusing on retail marketing solutions. This division offers personalized, dynamic pricing across digital platforms, enhancing advertising effectiveness. The beta testing showed impressive results: a 9x Return On Ad Spend, over 60% increase in low-price perception, and 83% brand awareness boost. As grocery sales are projected to reach $1.1 trillion by 2027, Undertone aims to support retailers in adapting to the digital shift, countering the decline of print media.