Perion Acquires Hivestack, a Leading Global Full-Stack Digital Out-Of-Home (DOOH) Platform - Seite 3

In the past number of years, Hivestack has invested significantly in building its innovative technology infrastructure and expanding its global footprint. This has laid the foundation for strong growth and profitability going forward, enhanced by Perion's ability to scale and the new synergies formed.

Conference call

Perion will host a ZOOM conference call on Tuesday, December 12, at 8:30 a.m. ET to discuss the details of the acquisition.

Please join the call using the following Zoom link:

https://incommconferencing.zoom.us/webinar/register/WN_7pm4ooKCRjWCCzd ...

About Hivestack

Hivestack is a leading global, full-stack, marketing technology company, powering the buy and sell side of programmatic digital out-of-home (DOOH) advertising. Hivestack was founded in 2017 with headquarters in Montreal, Canada, and operates in 32 countries across the globe.

About Perion Network Ltd.

Perion is a global multi-channel advertising technology company that delivers synergistic solutions across all major channels of digital advertising – including search advertising, social media, display, video and CTV advertising. These channels converge at Perion’s intelligent HUB (iHUB), which connects the company’s demand and supply assets, providing significant benefits to brands and publishers.

For more information, visit Perion's website at www.perion.com.

Non-GAAP Measures

Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude certain items. This press release includes certain non-GAAP measures of Hivestack, including Contribution ex-TAC, and Adjusted EBITDA. Contribution ex-TAC of Hivestack presents revenue reduced by traffic acquisition costs and media buy, reflecting a portion of the revenue that must be directly passed to publishers and media owners or advertisers and presents revenue excluding such items. We believe Contribution ex-TAC is a useful measure in assessing the performance of Hivestack because it facilitates a consistent comparison against the core business without considering the impact of traffic acquisition costs and media buy related to revenue reported on a gross basis. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA") is defined as Hivestack’s income from operations excluding stock-based compensation expenses, depreciation, amortization of acquired intangible assets, retention and other acquisition-related expenses and gains and losses recognized with respect to changes in the fair value of contingent consideration. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Furthermore, the non-GAAP measures are regularly used internally to understand, manage and evaluate our business and make operating decisions, and we believe that they are useful to investors as a consistent and comparable measure of the ongoing performance of Hivestack’s business. However, the non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.