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Perion’s Strong and Sustained Momentum Continues, Reports 36% Year-over-Year Revenues Growth in the First Quarter of 2021

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Perion Network Ltd. (NASDAQ: PERI), a global advertising technology company that delivers holistic solutions across the three main pillars of digital advertising – ad search, social media and display / video / CTV advertising – announced today its financial results for the first quarter ended March 31, 2021.

First Quarter 2021 Highlights

  • CTV solution served as a key factor for new customer acquisition and primary contributor to 11% increase in average deal size;
  • Average daily searches increased 45% year-over-year from 12.2 million in the first quarter of 2020 to a record 17.7 million this quarter;
  • Perion’s Actionable Performance Monitoring (APM) SaaS system for social advertisement has already been chosen by 7 new customers since launched in January 2021;
  • Net cash was $128.0 million compared to $52.0 million on December 31, 2020; and
  • Outstanding debt was fully repaid during the first quarter of 2021.

First Quarter 2021 Results Summary*

(In millions, except per share data)

 

Three months ended

 

 

March 31,

 

 

2021

 

2020

 

%

 

Display and Social Advertising revenues

$

38.1

 

$

23.7

 

+61%

 

Search Advertising and other revenues

$

51.7

 

$

42.3

 

+22%

Perion Network Ltd

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