Perion’s Strong and Sustained Momentum Continues, Reports 36% Year-over-Year Revenues Growth in the First Quarter of 2021
Perion Network Ltd. (NASDAQ: PERI) reported its financial results for the first quarter of 2021, achieving significant growth in digital advertising. Key highlights include a 61% increase in Display and Social Advertising revenues, reaching $38.1 million, and a 22% rise in Search Advertising, totaling $51.7 million. Average daily searches surged 45% year-over-year, reaching 17.7 million. Net cash improved to $128 million, with all outstanding debt repaid. The introduction of their Actionable Performance Monitoring system also attracted 7 new customers since January 2021.
- 61% increase in Display and Social Advertising revenues, totaling $38.1 million.
- 22% growth in Search Advertising revenues, amounting to $51.7 million.
- Net cash position improved to $128 million, up from $52 million in December 2020.
- All outstanding debt repaid during the first quarter.
- Average daily searches increased by 45%, reaching 17.7 million.
- None.
Insights
Analyzing...
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 |
|
+ |
|
Search Advertising and other revenues |
$ |
51.7 |
|
$ |
42.3 |
|
+ |
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FAQWhat were Perion Network's Q1 2021 revenue figures?
Perion reported Display and Social Advertising revenues of $38.1 million and Search Advertising revenues of $51.7 million in Q1 2021.
How much did net cash increase for Perion Network in Q1 2021?
Net cash rose to $128 million in Q1 2021, significantly increasing from $52 million as of December 31, 2020.
What contributed to Perion Network's customer acquisition in Q1 2021?
Perion's CTV solution was a key factor in new customer acquisition, contributing to an 11% increase in average deal size.
How many new customers adopted Perion's APM system in Q1 2021?
Since its launch in January 2021, 7 new customers have adopted Perion’s Actionable Performance Monitoring (APM) system.
What was the increase in average daily searches for Perion Network?
Average daily searches increased by 45% year-over-year, reaching a record 17.7 million in Q1 2021.
Perion Network Ltd
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