Perion Network Ltd · NASDAQ:PERI
Perion Network — Q3 2025 Earnings Presentation
40 slides from Perion Network's earnings presentation, Nov 12, 2025
Slide 1: Investor Presentation Q3 2025
Investor Presentation Q3 2025 November 12, 2025
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 ● Business Update ● Q3 2025 Financial Results ● Q&A ● Closing Remarks Tal Jacobson Elad Tzubery Chief Executive Officer Chief Financial Officer
Slide 4: On Track and Building the Future
On Track and Building the Future Continuing to strengthen our foundation to position Perion for sustainable growth.
Slide 5: Q3 Business Highlights
Q3 Business Highlights Financial Highlights Product Announcements ● YoY increase in: ● Outmax - proprietary AI performance algorithm ○ Revenue 8% optimizing for outcomes across CTV, Social and ○ Contribution ex-TAC 7% Open web ○ Adjusted EBITDA 63% ● SODA for Publishers - next-generation Supply Path
Slide 6: Each C-Suite Executive Has a Platform to Drive Results
Each C-Suite Executive Has a Platform to Drive Results CRO COO CTO CMO
Slide 7: CMO Survey 2025
CMO Survey 2025 ● Only 22% of marketers strongly agreed with the statement, ‘I have the measurement insights I need to justify value to my CFO.’ ● 62% of marketers acknowledged they need better tools to clearly show marketing’s contribution to the bottom line The CFO is my champion to the board, and
Slide 8: Strategic Partnership with Albertsons Media Collective
Strategic Partnership with Albertsons Media Collective Expanding into a $60B Retail Media Market Growing at ~15% CAGR1 Primo Case Study: 5.5% Sales Lift ● Partnership with one of the largest grocery retailers in the U.S. ● Integrates Albertsons’ first-party data with Perion’s proprietary media techn
Slide 9: Outsmart. Outperform. Outmax.
Outsmart. Platform Agnostic Customized Outcomes Outperform. Smarter Decisioning Outmax. New Audience Identification Proprietary performance algorithm spanning cross-channel & walled gardens. Differentiated Technology Attention – Viewability – Brand Safety & Suitability – Carbon Efficiency- Site Traf
Slide 10: Inside the Engine: Real-Time, Outcome-Based Optimization
Inside the Engine Real-Time, Outcome-Based Optimization Subset Device Time of Day Channels ● The algorithm continuously identifies and prioritizes top-performing audience and inventory subsets in real time. ● It dynamically learns from a range of signals — including device, time of day, context, v a
Slide 11: How Ford is Driving the Future with Outmax
How Ford is Driving the Future with Outmax: Key Results Better Performance, Reduced Emissions +12 points in viewability 22% drop in CPM -33% carbon intensity Our partnership with InMedia360 and Perion has further improved the Campaign Goals Advanced Solutions sustainability performance of media in T
Slide 12: AI for High-Margin Revenue Streams with SODA
AI for High-Margin Revenue Streams with SODA Smart AI Monetization Engine ● Integrates Greenbids AI with Perion’s multiformat bidder to boost yield, transparency, and sustainability ● Expands high-margin revenue by embedding Perion deeper into publisher stacks ● Delivers measurable ROI from Greenbid
Slide 13: Perion DOOH Player for DOOH and Retail Media
Perion DOOH Player for DOOH and Retail Media: Accelerate scalable, recurring and predictable growth ● Transforms fragmented legacy workflows into a single, unified platform for ad delivery, optimization, and monetization ● Expands total addressable market and recurring revenue by embedding Perion’s
Slide 14: Our Path Forward
Our Path Forward Executing Our Transformation Plan FY 2024 FY 2025 FY 2026/27 Laying the Foundation Activating Scaling Platform, for Platform-Led Growth the Platform Vision Intelligence & Impact Acquired Hivestack to enter Launched Perion One strategy, Perion One orchestrates planning, the fast-grow
Slide 15: Leadership Team of Industry Visionaries
Leadership Team of Industry Visionaries Tal Jacobson Kenny Lau Mina Naguib Stephen Yap Erin McCallion Chief Executive Officer Chief Product Officer Chief Technology Officer Chief Revenue Officer Chief Marketing Officer Jonathan Saada Amit Gelber Rona Zur Turetz Elad Tzubery Anat Paran Ran Cohen EVP
Slide 16: Financial Results & Outlook
Financial Results & Outlook
Slide 17: Executing with Discipline
Executing with Discipline Driving Sustainable Long-Term Growth Q3 Highlights Growth Engines Looking forward Strong performance Efficiency measures 75% of growth engines Already bearing fruit YoY increase YoY Revenue growth Expected to fully materialize in revenue, Contribution ex-TAC CTV during 2026
Slide 18: Q3 2025 Key Financial Highlights
Q3 2025 Key Financial Highlights Revenue Contribution ex-TAC1 Adjusted EBITDA1 Non-GAAP Net Cash Flow from Income1 Operations $110.5M $51.0 $12.1M $12.5M $5.9M 8% YoY growth 7% YoY growth 63% YoY growth Diluted Non-GAAP EPS: YTD: $20.1 million 46% Margin 11% Margin $0.28 24% ex-TAC Margin 1 Non-GAAP
Slide 19: Growth Engines
Growth Engines Strong Momentum Outpacing Market Growth1 CTV by Perion DOOH by Perion 75% YoY Growth ($M) 26% YoY Growth ($M) CTV Ad Spending DOOH Ad Spending 12.5% 2024-2029 CAGR, US ($B) 8.0% 2024-2029 CAGR, US ($B) 1 Source: eMarketer data, September 2025 DOOH Q3’23 IS proforma revenue
Slide 20: Growth Engines - Retail Media
Growth Engines - Retail Media Growing Adoption of Our Technology among Retailers Retail Media by Perion Omnichannel Retail Media Ad Spending 40% YoY Growth ($M) 14.7% 2024-2029 CAGR, US ($B) Source: eMarketer data, September 2025
Slide 21: Revenue ($M)
Revenue ($M) Revenue ($M) YoY Revenue growth rate
Slide 22: Revenue by Channels
Revenue by Channels DOOH Search Revenue of $24.1M Revenue of $22.8M Search DOOH 21% 22% Increased by 26% YoY Increased by 9% YoY CTV Q3 2025 Revenue of $16.6M CTV 15% Increased by 75% YoY Web Revenue of $46.6M Web Decreased by 11% YoY 42% Percent of revenue may not add up due to rounding
Slide 23: Advertising Solutions Revenue
Advertising Solutions Revenue Revenue ($M) YoY Revenue growth rate
Slide 24: Search Revenue Stabilizing ($M)
Search Revenue Stabilizing ($M)
Slide 25: Contribution ex-TAC Margin
Contribution ex-TAC Margin1 1 Calculated as Contribution ex-TAC to Revenue. Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric.
Slide 26: Adjusted EBITDA ($M)
Adjusted EBITDA1 ($M) Adjusted EBITDA/Revenue Adjusted EBITDA/Contribution ex-TAC 23% 55% 11% 24% 7% 16% 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric.
Slide 27: Q3 2025 GAAP/Non-GAAP Net Income ($M) & EPS
Q3 2025 GAAP/Non-GAAP1 Net Income ($M) & EPS GAAP Net Income (Loss) & EPS Non-GAAP Net Income & EPS1 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric.
Slide 28: Q3 2025 Cash from Operations & Adjusted Free Cash Flow ($M)
Q3 2025 Cash from Operations & Adjusted Free Cash Flow1 ($M) Cash from Operations Adjusted Free Cash Flow1 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric.
Slide 29: Net Cash ($M)
Net Cash1 ($M) 1 Includes cash, cash equivalents, short term deposits and marketable securities
Slide 30: Share Repurchase Program
Share Repurchase Program Accumulated spend ($M) Number of shares repurchased (M) Nov.-Dec. Expected QTD Actual
Slide 31: Committed to Balanced Capital Allocation
Committed to Balanced Capital Allocation Shareholder return through expansion of current share repurchase plan Current share repurchase plan1 2026 share repurchase plan Current plan $125M Buyback expansion $75M Implied Return 30% Implied return2 18% Expected completion Year-end 2025 Aggregate Implie
Slide 32: Reiterating FY2025 Financial Outlook
Reiterating FY2025 Financial Outlook $M FY 2025 Guidance Revenue 430 - 450 Adjusted EBITDA1 44 - 46 Adjusted EBITDA/Revenue1 10%2 Adjusted EBITDA/ Contribution ex-TAC1 22%2 1 Contribution ex-TAC and Adjusted EBITDA are non-GAAP measures. See reconciliation of GAAP to non-GAAP measures at the appendi
Slide 33: Why Invest
Large Growth Opportunity Profitability Strong focus on high-growth & Cash Generation1 digital ad channels Over a decade of positive and market verticals: annual Adjusted EBITDA CTV, DOOH & Retail Media & Operating Cash Flow, combined with efficient operations with scalable technology foundation Unif
Slide 34: Thank You.
©> PERION Thank You.
Slide 35: Appendix.
Appendix.
Slide 36: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets
Slide 37: Consolidated Statements Of Operations - GAAP
Consolidated Statements Of Operations - GAAP
Slide 38: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows
Slide 39: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results
Slide 40: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results