Business
Perion Accelerates Its Strong Business Momentum; Raises Full-Year 2021 and 2022 Guidance for Revenue and Adjusted EBITDA
Expects at least $460 million in full-year 2021 revenue and at least $64 million in Adjusted EBITDA, driven by estimated YoY growth of 115% in Video and CTV
About this update from Perion Network Ltd
[{"type":"text","content":"\nExpects at least $460 million in full-year 2021 revenue and at least $64 million in Adjusted EBITDA, driven by estimated YoY growth of 115% in Video and CTV Advertising on a proforma basis\n\n TEL AVIV & NEW YORK--(BUSINESS WIRE)--\nPerion Network Ltd. (NASDAQ: PERI), a global advertising technology company that delivers a holistic solution across the three main pillars of digital advertising – ad search, social media, and display / video / CTV advertising – today announced that due to continued acceleration in its business momentum, management raises its full-year 2021 and 2022 guidance.\n\nDoron Gerstel, Perion’s CEO, commented, “We could not be more pleased by these results confirm our overall diversification strategy and operational excellence. The revised guidance reflects the success of our breakthrough high impact creatively led formats, especially for video and CTV. We are encouraged by the superior ROI and improved media margin that our innovative iHub platform provides. Overall – this is the healthiest kind of growth – superior topline performance, propelled by greater operational efficiency, together driving increased profitability and cash flow. Our updated outlook reflects these systemic improvements which we expect will continue unabated into 2022.”\n\nThe continuous improvement of our business leading in turn to the guidance raise is mainly the result of:\n\n\n115% YoY growth in Video and CTV including Vidazoo, on a proforma basis (based on the 2021 full-year expected growth compared to full-year 2020);\n\n\nSignificant growth in average deal size and revenue retention;\n\n\n13% YoY growth in the daily average number of monetizable searches (Based on October and November results);\n\n\nThe expected improvement in our Adjusted EBITDA margin is primarily a result of our successful implementation of Perion’s iHub, which lead to lower Traffic Acquisition Costs.\n\n\n\n\n\n\n\n\n\n \n\n\n\n($ millions)\n\n\n\n2020\nActual Results\n\n\n\nRevised\nGuidance\nFY 2021\n\n\n\nYear over year\nGrowth*\n\n\n\nRevised\nGuidance\nFY 2022\n\n\n\nYear over year\nGrowth*\n\n\n\nCAGR (2020-\n2022)**\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n$328.1\n\n\n\n$460-470\n\n\n\n42%\n\n\n\n$590-610\n\n\n\n29%\n\n\n\n35%\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$32.8\n\n\n\n$64-65\n\n\n\n97%\n\n\n\n$80-84\n\n\n\n27%\n\n\n\n58%\n\n\n\n\n\nEBITDA to Rev Ex-TAC...