Press Releases Perion Expects $22M in Adjusted EBITDA For the First Quarter of 2022, More Than Double Q1/2021

Perion Expects $22M in Adjusted EBITDA For the First Quarter of 2022, More Than Double Q1/2021

Published on

04th Apr 2022

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TEL AVIV, Israel & NEW YORK–(BUSINESS WIRE)–Apr. 4, 2022– 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 – today announced preliminary results for the first quarter of 2022.

 

($m)

Q1 2021

Q1 2022 (preliminary)

YoY Growth

Revenue

89.8

125.0

39%

Adjusted EBITDA

8.8

22.0

150%

EBITDA to Rev Ex-TAC

25%

42%

* Reconciliation of GAAP to Non-GAAP measures follows

 

Doron Gerstel, Perion’s CEO, commented, “Perion is building an increasingly predictable and sustainable financial model, with our strong revenue ramp continuing into 2022 performance. Our results are driven by our strategic diversity of revenue streams, giving us the ability to deliver growth where the opportunities are. In the first quarter of 2022, the opportunities were clearly in our SORT innovation – and its proprietary cookieless technology – which has been used in more than 100 campaigns since launched in October 2021!”

 

“We also benefited from the growing market acceptance for the solutions of Vidazoo, our most recent acquisition, which validates our continued ability to identify and integrate accretive M&A,” added Mr. Gerstel. “In addition, the economic value of our iHUB continues to prove itself, as our innovative AdTech assets connect to this centralized AI-led digital control center, leading to both reduced operational expenses and improved media margin.”

 

Mr. Gerstel added, “As a result of our strong start of 2022 and increased visibility, we plan to update full-year guidance when we report our first quarter results, on Thursday, April 28. I invite all interested parties to read the attached White Paper, which details the innovative technology framework and deployment which enables SORT to deliver superior results to cookie-based targets, while respecting privacy.”

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