Perion Network Ltd. (PERI) is a global technology company specializing in digital advertising solutions. The company connects advertisers to consumers across various digital channels, offering innovative tools and technologies to enhance advertising effectiveness. Perion sells advertising solutions and search advertising services, catering to brands, retailers, and agencies worldwide.
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Advertising Solutions - Delivers high-impact and standard ad formats across channels such as display, social media, Connected TV (CTV), digital audio, and Digital Out-of-Home (DOOH). Provides tools for content monetization and campaign management, including solutions for Web Publishers and DOOH Media Owners like Ad Servers, SSP, and Header Bidders.
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Search Advertising - Generates revenue through service agreements with search partners, offering applications to online publishers and app developers on a revenue-share basis. Revenue is primarily earned based on monthly transaction volumes.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Tal Jacobson ExecutiveBoard | Chief Executive Officer | Tal Jacobson became CEO of Perion Network Ltd. on August 1, 2023 and serves as a Director since November 2023. Previously, he led the company's search advertising unit, CodeFuel, as General Manager from 2018. | View Report → | |
Elad Tzubery Executive | Chief Financial Officer (CFO) | Elad Tzubery is the CFO of Perion Network Ltd. since August 2024. He advanced through multiple finance roles at Perion, starting in June 2018, and built his expertise at Allot Communications Ltd. and as a CPA at EY. | ||
Maoz Sigron Executive | Chief Operating Officer | Maoz Sigron has been the Chief Operating Officer at Perion Network Ltd. since August 2024. He previously served as CFO from February 2018 to July 2024 and VP Finance from September 2017 to February 2018. | ||
Stephen Yap Executive | Chief Revenue Officer (CRO) | Stephen Yap has been the Chief Revenue Officer (CRO) at PERI since February 2025. He previously held multiple executive roles at Google, including Head of Americas, which highlights his extensive experience in technology and digital advertising. |
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Given that the CTV channel declined by 5% this quarter due to budget shifts, can you provide more detailed insight into whether this decrease is more reflective of broader industry trends or specific to the advertiser mix you work with?
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With revenue from advertising solutions up by 8% but facing a 15% increase in cost of revenue, what concrete strategies are in place to improve operational efficiency and ensure that growing costs do not erode margins over time?
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As you transition to the Perion One platform and expand into new verticals like digital out of home, how will you balance the need for robust technological integration without overextending your current infrastructure and management focus?
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The shift towards performance-based solutions, particularly with the launch of performance CTV, raises questions about your sales organization—can you elaborate on how you plan to grow market share without significantly increasing headcount, and what metrics will you use to gauge continued effectiveness?
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With increasing concerns around the impact of AI search on web traffic, what specific measures are you implementing to mitigate potential declines in your web business, and how will these initiatives support your overall channel-neutral strategy?
Research analysts who have asked questions during Perion Network earnings calls.
Andrew Marok
Raymond James Financial
4 questions for PERI
Eric Martinuzzi
Lake Street Capital Markets
4 questions for PERI
Jason Helfstein
Oppenheimer & Co. Inc.
4 questions for PERI
Jeff Martin
ROTH Capital Partners
4 questions for PERI
Laura Martin
Needham & Company, LLC
3 questions for PERI
Mark Kelley
Stifel, Nicolaus & Company, Incorporated
1 question for PERI
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Greenbids | 2025 | Deal Value & Structure: A total of $50 million, consisting of $27.5 million cash at closing, a two-year $22.5 million cash earnout, and $15 million in employee retention payments. Strategic Rationale & Assets: The acquisition expands Perion’s total addressable market from $140 billion to $750 billion, enhances automation and client retention with AI-driven technology, and brings an existing client base of over 80 brands. |
Hivestack Inc. | 2024 | Deal Value & Structure: Acquired for a total of $106.9 million, with $100 million paid in cash at closing and up to $25 million in contingent payments based on performance. Strategic Rationale & Assets: The deal aims to expand Perion’s reach in the fast-growing DOOH sector with enhanced technology and strategic partnerships, such as the collaboration with Eletromidia in Brazil. |
Vidazoo | 2021 | Deal Value & Structure: Acquired for $93.5 million, structured with $35 million in cash at closing plus up to $58.5 million as a performance earn-out contingent on EBITDA targets. Strategic Rationale & Assets: The acquisition bolsters Perion’s video advertising capabilities through a proprietary video player, yield management platform, and access to an expanding video content marketplace. |
Pub Ocean | 2020 | Deal Value & Structure: Acquired for up to $22 million, including $4 million in cash at signing, $17 million in earn-outs, and $1 million for retention incentives. Strategic Rationale & Assets: The acquisition enhances Perion’s digital advertising ecosystem with scalable content distribution and real-time analytics through Pub Ocean’s tools (Mission and LiveYield), expected to generate $25 million in incremental revenue and $5 million in EBITDA. |
Content IQ | 2020 | Deal Value & Structure: Acquired for up to $73.05 million, comprising $15 million in cash at closing, up to $11 million for retention, and up to $47.05 million in performance-based earn-outs tied to revenue and EBITDA targets. Strategic Rationale & Assets: The acquisition strengthens Perion’s digital advertising suite by integrating proprietary data algorithms and real-time optimization tools, positioning the firm for a cookie-less future and enhanced publisher monetization. |
Recent press releases and 8-K filings for PERI.
- Perion Network has shifted its primary focus from the supply side of advertising to the demand side, aiming to become a centralized platform for marketers to orchestrate digital ad spend, heavily leveraging AI.
- The company's "Perion One" strategy seeks to unify technologies and channels, allowing systems to optimize digital marketing campaigns based on performance and KPIs, rather than replacing existing DSPs like Google or Meta.
- Perion is optimistic about the growth of its Connected TV (CTV) solutions, expecting to grow more than 20% annually in this segment, and has introduced "Perion algo" (formerly Greenbids) for performance CTV over YouTube, which has demonstrated up to 40% better yield for customers.
- The company is transitioning towards a more efficient, self-serve model, which is expected to improve gross margins and sales efficiencies by reducing manual work and enabling a platform-based sales approach.
- Perion's search business continues to generate approximately $20 million in cash flow per quarter and is not considered a distraction to the new strategy; the company is actively engaged in share buybacks, believing the stock is undervalued.
- Perion Network Ltd. launched its Performance CTV Solution on August 11, 2025, as the latest expansion of its Perion One unified platform.
- This new solution targets the high-growth Connected TV (CTV) advertising market, with U.S. ad spend projected to exceed $36 billion by 2026 and a 2024-2028 CAGR of 15.6%.
- The Performance CTV Solution enables outcome-driven advertising on top-tier streaming platforms, aiming to transform CTV into a full-funnel, ROI-focused channel by linking media investment to tangible KPIs like conversion and Return on Ad Spend (ROAS).
- Perion Network Ltd. reported total revenue of $103.0 million for Q2 2025, a 5% decrease year-over-year from Q2 2024. Advertising Solutions revenue increased 8% year-over-year to $80.6 million, marking its first year-over-year gain since Q3 2023, while Search Advertising revenue decreased 35% to $22.4 million.
- The company reported a GAAP net loss of $3.5 million and Adjusted EBITDA of $7.1 million for the second quarter of 2025.
- Perion generated net cash from operations of $21.3 million and adjusted free cash flow of $20.7 million in Q2 2025.
- The company reiterated its full-year 2025 guidance, projecting revenue between $430 million and $450 million and Adjusted EBITDA between $44 million and $46 million.
- During Q2 2025, Perion repurchased 3.6 million shares for a total of $33.4 million as part of its share repurchase program.