Business
Perion’s Momentum Continues, Delivering 119% Year-Over-Year Net Income Growth in the Fourth Quarter 2022; Diluted EPS of $0.79
2022 revenue increased by 34% year-over-year, net income grew by 156% to $99 million; diluted EPS doubled to $2.06 and adjusted EBITDA increased by 90% to
About this update from Perion Network Ltd
[{"type":"text","content":"\n2022 revenue increased by 34% year-over-year, net income grew by 156% to $99 million; diluted EPS doubled to $2.06 and adjusted EBITDA increased by 90% to $132 million\n\nPerion names Tal Jacobson as Chief Executive Officer to succeed Doron Gerstel effective August 1st, 2023\n\n TEL AVIV & NEW YORK--(BUSINESS WIRE)--\nPerion Network Ltd. (NASDAQ & TASE: PERI), a global advertising technology company whose synergistic solutions are delivered across the three primary channels of digital advertising – ad search, social media and display/video/CTV advertising – today reported record financial results for the fourth quarter and full year period ending December 31, 2022.\n\n“Perion operates in a dynamic digital advertising market, and our strong financial performance is a clear indication of our unique capability to identify shifts in ad spending, delivering the right solutions at the right time,” said Doron Gerstel, Perion’s CEO. “A three-year EBITDA CAGR of 101% and revenue CAGR of 40% demonstrates the high level of predictability and sustainability of our business model, underpinned by our diversification and profitability-biased strategy. By connecting all our data assets across all media channels on both sides of the open web into an intelligent central hub (iHUB), we’re able to rapidly analyze changes in consumer behavior and shift our business to where media budgets are trending, while consistently delivering superior return on advertising spend to our clients and increasing our profit margins.”\n\n“I’d like to stress that the consistency of our performance over the past three years is even more impressive when you consider the unprecedented volatility presented by the global pandemic, supply chain distortions, interest rate increases, and the resultant emotional swings among advertisers and brands,” added Mr. Gerstel.\n\nFull-Year 2022 Business Highlights\n\n\nVideo revenue increased by 129%, representing 43% of Display Advertising revenue\n\n\nCTV revenue increased by 108% year-over-year\n\n\n59% of our agencies and brand customers adopted our SORT™ solution, and generated $59.4 million\n\n\nCustomer retention rate of 115%\n\n\nMedia margin increased to 42% compared with 40% in 2021\n\n\nThe number of publishers increased by 27% year-over-year to 265\n\n\nAverage daily searches increased by 11% and average RPM increased by ...