Perion Network Expects 20% YoY Revenue Growth and 40% YoY Increase in Adjusted EBITDA in Second Quarter 2023

Perion Network Ltd. (Nasdaq & TASE: PERI), a global advertising technology company whose synergistic solutions are delivered across the three primary channels of digital advertising – search, social media and display/video/CTV advertising, today announced preliminary results for the second quarter of 2023.

$ million

Actual
Q2 2022

Preliminary
Q2 2023

YoY

   

Revenue

146.7

176.0

20%

   

Adjusted EBITDA⁽¹⁾

28.5

40.0

40%

   

Adjusted EBITDA to Revenue⁽¹⁾

19%

23%

 

   

(1) Adjusted EBITDA is a non-GAAP measure. See a reconciliation table below

 

“The strength of our second quarter results reflects continued momentum of the business,” said Tal Jacobson, Perion’s incoming CEO. “Both the second quarter and first six months highlight the power of our executional agility, underlying technological innovation and market fit. Our diversified and scalable business model has allowed us to capitalize on recent positive market indications, resulting in improved margins and market share gains. Based on preliminary data suggesting stronger than initially anticipated growth, we will provide an update to our annual outlook when we report our financial results on August 2.”

Conference Call Details

Perion will release its financial results for the second quarter of 2023 on Wednesday, August 2, 2023, prior to the opening of the financial markets. Incoming CEO Tal Jaconson and CFO Maoz Sigron will host a conference call to discuss the results at 8:30 a.m. ET on the same day.

• Registration link: https://incommconferencing.zoom.us/webinar/register/WN_xMvsgXNoSAyrwYE ...
• Toll Free: 1-877-407-0779
• Toll/International: 1-201-389-0914

A replay of the call and a transcript will be available within approximately 24 hours of the live event on the investors section of Perion’s website at www.perion.com/investors.