Perion Network Ltd
NASDAQ:PERI
Perion Network Ltd
Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers through innovative platforms. The company delivers online advertising solutions and search monetization to brands and publishers. The company provides data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. Its business solutions include Undertone, Codefuel, MakeMeReach and Smilebox. Undertone’s synchronized digital branding solution delivers creative experiences through cohesive stories to the portfolio of Websites, mobile applications, touchpoints, screens, and platforms. CodeFuel is search solution platform, which allows publishers to create new revenue streams and search experience by bringing monetization to content and application developers. MakeMeReach platform helps advertisers and agencies create, manage and optimize their marketing campaigns on multiple social channels. Smilebox enables people to tell the stories of their lives with customizable eCards, slideshows and invitations.
Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers through innovative platforms. The company delivers online advertising solutions and search monetization to brands and publishers. The company provides data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. Its business solutions include Undertone, Codefuel, MakeMeReach and Smilebox. Undertone’s synchronized digital branding solution delivers creative experiences through cohesive stories to the portfolio of Websites, mobile applications, touchpoints, screens, and platforms. CodeFuel is search solution platform, which allows publishers to create new revenue streams and search experience by bringing monetization to content and application developers. MakeMeReach platform helps advertisers and agencies create, manage and optimize their marketing campaigns on multiple social channels. Smilebox enables people to tell the stories of their lives with customizable eCards, slideshows and invitations.
Strong Q4 Growth: Perion delivered strong Q4 results, with double-digit growth in its main business engines (CTV, Digital Out-of-Home, Retail Media), outperforming the market.
Profitability Surge: Contribution ex-TAC grew 19% YoY in Q4, while adjusted EBITDA jumped 53%, showing improved operational leverage and disciplined cost management.
Cash Flow Strength: Operating cash flow increased by over 400% YoY in Q4, with an 89% free cash flow conversion ratio for the full year, highlighting robust cash generation.
2026 Guidance: For 2026, Perion expects contribution ex-TAC of $215M–$235M and adjusted EBITDA of $50M–$54M, reflecting continued shift to high-growth channels.
AI & Platform Strategy: The Perion One platform, powered by the Outmax AI agent, is now central to company strategy, driving strong customer results and adoption.
Expanded Partnerships: New strategic partnerships with Amazon, Walmart, and Mastercard were launched to boost data, measurement, and scale opportunities.
Margin Expansion Target: Perion is targeting an adjusted EBITDA margin of 28% of contribution ex-TAC by 2028, up from 22% in 2025, through efficiency and automation.
Share Buybacks: The share repurchase program was increased to $200M, already executing $118M, reflecting management’s confidence.
