Business
Perion Pre-Announces Fourth Quarter and Full Year 2020 Results
Exceeds Guidance for Both Revenue and Adjusted EBITDA Strong performance in H2/2020 lead to 23% Annual Revenue Growth in 2020 compared to 2019, Reflecting
About this update from Perion Network Ltd
[{"type":"text","content":"\nExceeds Guidance for Both Revenue and Adjusted EBITDA \n\nStrong performance in H2/2020 lead to 23% Annual Revenue Growth in 2020 compared to 2019, Reflecting Continued Momentum of Connected TV advertising and Higher-than-Expected Synergies from 2020 Acquisitions\n\n TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--\nPerion Network Ltd. (NASDAQ: PERI), a global advertising technology company that delivers its Synchronized Digital Branding solution across the three main pillars of digital advertising - ad search, social media and display / video / CTV advertising – today announced preliminary results for the fourth quarter and full year 2020. Management now expects to exceed the previously announced guidance for both revenue and Adjusted EBTIDA. Additionally, the Company has pre-announced anticipated results for GAAP EPS and non-GAAP EPS.\n\nBased on a preliminary (unaudited) review, the Company anticipates:\n\n\nRevenue of $110 million to $115 million and $320 million to $325 million for the fourth quarter and full year 2020, respectively, exceeding the previously announced guidance of $100 million to $105 million and $310 million to $315 million, respectively.\n\n\nAdjusted EBITDA of $14.5 million to $15.0 million and $32.0 million to $32.5 million for the fourth quarter and full year 2020, respectively, exceeding the previously announced guidance of $13 million to $14 million and $30 million to $31 million, respectively.\n\n\nGAAP EPS of $0.17 to $0.19 for the fourth quarter of 2020 and $0.22 to $0.24 for the full year 2020.\n\n\nNon-GAAP EPS of $0.35 to $0.36 for the fourth quarter of 2020 and $0.80 to $0.82 for the full year 2020.\n\n\nWe have provided a range for the preliminary unaudited estimated results described primarily because our financial closing procedures for the three and twelve months ended December 31, 2020 are not yet complete. As a result, there is a possibility that our final results will vary materially from these preliminary estimates. We currently expect that our final results will be within the ranges described above. It is possible, however that our final results will not be within the ranges we currently estimate. We have estimated a charge of $0.2 million for revaluation of payment obligations related to acquisitions. The actual charge (benefit) could differ significantly as we and our advisors finali...