Slide 1: Investor Presentation Q1 2026
Investor Presentation Q1 2026 May 20, 2026
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains historical information and forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe- harbor provisions of the Private Securities Litigation Reform Act o
Slide 3: Today's Call
Today’s Call ● Opening Remarks ● Q1 2026 Results ● Business Updates ● Financial Results ● Q&A ● Closing Remarks Tal Jacobson Elad Tzubery Chief Executive Officer Chief Financial Officer
Slide 4: Advancing Perion One Platform & Outmax AI Agent Technology
Advancing Perion One Platform & Outmax AI Agent Technology Tal Jacobson Chief Executive Officer
Slide 5: Q1 Performance
Q1 Performance Results Financial Highlights Growth Engines Channels 6% $6.7M 68% Perion One YoY Spend Growth Operating Cash Flow CTV spend YoY $90.4M $7.0M 29% Revenue Adjusted Free Cash Flow 1 DOOH spend YoY Tech adoption $39.7M 2.5M 316% 1 Contribution ex-TAC Shares repurchased Outmax AI Agent spe
Slide 6: Solving The $1T Advertising Challenge
YouTube Google Meta DOOH Solving The $1T Advertising Bing Spotify Challenge Open Web Advertiser Pinterest Marketers are navigating a fragmented universe of screens, creative formats, and placements, trying to connect the dots and drive business results. Netflix TikTok Amazon Apple CTV Reddit
Slide 7: Perion One: AI-native Execution Infrastructure
Perion One: AI-native Execution Infrastructure Our intelligent AI infrastructure powers advertiser execution and outcomes, continuously optimizing in real time.
Slide 8: Perion Outmax Every Channel
Perion OUTMAX Every Channel 316% One Agent
Slide 9: Outmax extends to TikTok Unlocking New TAM
Outmax extends to TikTok Unlocking New TAM Outmax is now live on TikTok: ● New high-growth channel: Extends Perion's AI execution into a + platform with 1.6B users and ad revenue projected to exceed $50B by 2027 ● Clear differentiation: Applies algorithmic intelligence beyond TikTok's native default
Slide 10: Mediamark & McSorely Media Exclusive Partnership
Mediamark & McSorely Media Exclusive Partnership Exclusive AI Advertising Partnership Across Africa to drive growth. + ● New high-growth market: Outmax now available across Africa through exclusive partnership with McSorely Media and Mediamark, addressing a programmatic market forecast to reach $6.5
Slide 11: Case study - Bouygues Telecom
Case study - Bouygues Telecom Bouygues Telecom Improved Acquisition Efficiency and Reduced Carbon Intensity with Perion Outmax Bouygues Telecom partnered with Perion to optimize Meta campaigns using the Outmax AI agent, improving acquisition efficiency while reducing campaign carbon intensity throug
Slide 12: Case study - C4 Energy
Case study - C4 Energy C4 Energy Elevates YouTube Performance with Perion's Outmax High-impact YouTube creative, combined with Outmax's real-time optimization, helped C4 Energy strengthen brand awareness, ad recall, and view performance across premium YouTube inventory. 4.1% 20.7% +80% Lift in Brand
Slide 13: Case study - Wepner
Case study - Wepner 27% Reduction in Carbon Wepner’s Outmax-Powered Campaign Intensity Improves Media Efficiency While Reducing Environmental Impact Leveraging Perion Outmax, Wepner delivered standout performance across YouTube and Meta, driving both awareness and traffic at scale while improving me
Slide 14: Case study - Vaseline
Case study - Vaseline How Vaseline turned live UV data into real-time skin protection messaging leveraging programmatic DOOH Live UV-index data integrated directly into DOOH creative, dynamically updating throughout the day to signal real-time exposure risk: A clear color-coded system displayed: ○ G
Slide 15: Serving 52 out of the Fortune 100 Companies Across Key Industry Verticals
Serving 52 out of the Fortune 100 Companies Across Key Industry Verticals 17 of the 19 largest 2 of the 3 largest 5 of the 6 largest 6 of the 10 largest Consumer & Retail Airline companies Pharmaceutical Technology & Media companies companies companies 4 of the 4 largest 6 of the 16 largest 4 of the
Slide 16: The industry agrees with our thesis & vision
The industry agrees with our thesis & vision Research by EMARKETER X Perion 89% 48.7% 53.2% of marketers expect 11–30% lift say creative say creative if creative could insights arrive is critical to be optimized too slowly performance in real time to act on The full report EMARKETER × Perion, The Cr
Slide 17: Closing Remarks
Closing Remarks Tal Jacobson Chief Executive Officer
Slide 18: Financial Results & Outlook
Financial Results & Outlook Elad Tzubery Chief Financial Officer
Slide 19: Q1 Business & Financial Highlights
Q1 Business & Financial Highlights Results Growth Engines Highlights Outmax Expansion $90.4M 68% Launched on TikTok - generated Revenue YoY Spend growth CTV $1M in spend $7.0M Reseller Initiative Adjusted free South Africa - Mediamark & McSorely Media cash flow1 29% 2028 Target Plan on track YoY Spe
Slide 20: Q1 2026 Key Financial Highlights
Q1 2026 Key Financial Highlights Revenue Contribution ex-TAC1 Adjusted EBITDA1 Net Cash2 Cash Flow from Operations $90.4M $39.7M $0.5M $293.0M $6.7M 1% YoY growth 44% Margin Vs. $1.8M LY Share Repurchase Adj. FCF1 $7.0M $24.1M 1 Non-GAAP metrics. Please see the Appendix to this presentation for a re
Slide 21: Growth Engines
Growth Engines Continued Momentum Drives Higher Spend CTV Spend ($M) DOOH Spend ($M) Retail Media Spend 68% YoY Growth 29% YoY Growth ($M) 27% YoY Growth
Slide 22: Perion One Growing Customer Spend
Perion One Growing Customer Spend +6% Perion One Spend ($M)
Slide 23: Revenue & Contribution ex-TAC
Revenue & Contribution ex-TAC1 Perion Revenue ($M) Perion Contribution ex-TAC ($M) 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric.
Slide 24: Search & Advertising Solutions Revenue
Search & Advertising Solutions Revenue Search ($M) Advertising Solutions ($M)
Slide 25: Adjusted EBITDA ($M) and Margins
Adjusted EBITDA1 ($M) and Margins Excluding FX impact of $1.4M 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric.
Slide 26: GAAP and Non-GAAP Net Income (Loss) & EPS
GAAP and Non-GAAP1 Net Income (Loss) ($M) & EPS2 ($) GAAP Net Income (Loss) Non-GAAP Net Income 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric. 2 Diluted
Slide 27: Cash from Operations & Adjusted Free Cash Flow ($M)
Cash from Operations & Adjusted Free Cash Flow1 ($M) Highlighting the cash-generative nature of our business model Cash from Operations Adjusted Free Cash Flow 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric.
Slide 28: Net Cash ($M)
Net Cash1 ($M) Creating Value to Shareholders Generating Returning cash from cash to operations shareholders Investing in Organic growth 1 Includes cash, cash equivalents, short term deposits and marketable securities
Slide 29: Share Repurchase Program
Share Repurchase Program Number of shares repurchased (M) Accumulated spend ($M) & Average Share Price ($)
Slide 30: FY2026 Financial Outlook
FY2026 Financial Outlook $M 2025A 2026E Contribution ex-TAC 203.4 215 - 2351 Adjusted EBITDA2 45.2 50 - 54 Adj. EBITDA/Contribution ex-TAC3 22% 23% 1 Implies a revenue range of $460 - 490 million 2 Contribution ex-TAC and Adjusted EBITDA are non-GAAP measures. See reconciliation of GAAP to non-GAAP
Slide 31: Thank You.
Thank You. 3 PERION
Slide 32: Appendix.
Appendix.
Slide 33: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets
Slide 34: Consolidated Statements Of Operations - GAAP
Consolidated Statements Of Operations - GAAP
Slide 35: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows
Slide 36: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results
Slide 37: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results
Slide 38: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results
Slide 39: Reconciliation of GAAP to Non-GAAP Full Year 2026 Guidance
Reconciliation of GAAP to Non-GAAP Full Year 2026 Guidance