Slide 1: Investor Presentation Q2 2025
Investor Presentation Q2 2025 August 11, 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 ● Q2 2025 Financial Results ● Q&A ● Closing Remarks Tal Jacobson Elad Tzubery Chief Executive Officer Chief Financial Officer
Slide 4: 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 5: Our Path Forward: Executing Our Transformation Plan
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 6: Progress in Multiple Dimensions
Progress in Multiple Dimensions Across product, partnerships & performance
Slide 7: Q2 Business Highlights
Q2 Business Highlights Business Performance Product Progress ● YoY increase in Advertising Solutions revenue ● Performance CTV solution launched to ● Retail Media and DOOH shows continued Capture Share in $36B+ High-Growth momentum Streaming Ad Market ● Web - back to growth ● Greenbids tech and busi
Slide 8: Perion One - Performance CTV
Perion One - Performance CTV Engineered to Drive Outcomes in a $36B+ Streaming Market AI-Powered CTV Platform with Measurable Results Real-time optimization and attribution tied to business KPIs–site visits, leads, conversions. Unlocking Mid-Market Opportunity Serving brands and agencies historicall
Slide 9: 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 Adi Zackai Mates Elad Tzubery Anat Paran Ran Cohen EVP
Slide 10: 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 11: Financial Results & Outlook
Financial Results & Outlook
Slide 12: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights Q2 Highlights Growth Engines Greenbids Progress ● Healthy momentum in DOOH, ● Post-acquisition integration fully on Retail and Web. track 35% ● CTV budgets moving to H2 YoY Revenue growth ● Tangible synergies already DOOH generating new business wins ● Strategy bearing f
Slide 13: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights Revenue Contribution ex-TAC Adjusted EBITDA1 Non-GAAP Net Cash Flow from Margin1 Income1 Operations $103.0M 46% $7.1M $12.0M $21.3M 7% Margin Diluted Non-GAAP EPS: 15% ex-TAC Margin $0.26 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliati
Slide 14: Growth Engines
Growth Engines Expected to Outpace Market Growth1 in FY 2025 DOOH by Perion CTV by Perion 35% YoY Growth ($M) 5% YoY Decline ($M) DOOH Ad Spending CTV Ad Spending 8.1% 2023-2028 CAGR, US ($B) 14.3% 2023-2028 CAGR, US ($B) Source: eMarketer data, July 2025
Slide 15: Our Retail Media Success
Our Retail Media Success Adoption of Our Technology with Retailers Retail Media by Perion Omnichannel Retail Media Ad Spending 27% YoY Growth ($M) 16.2% 2023-2028 CAGR, US ($B) Source: eMarketer data, July 2025
Slide 16: Revenue ($M)
Revenue ($m) 178.5 108.7 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25
Slide 17: Revenue by Channels
Revenue by Channels DOOH Search Revenue of $17.6M Revenue of $22.4M Search DOOH 22% 17% Increased by 35% YoY Decreased by 35% YoY CTV 9% CTV Q2 2025 Revenue of $9.7M Decreased by 5% YoY Web Revenue of $53.1M Increased by 5% YoY Web 52% Percent of revenue may not add up due to rounding
Slide 18: Advertising Solutions Revenue
Advertising Solutions Revenue Revenue ($M) YoY Revenue growth rate
Slide 19: Search Revenue Stabilizing ($M)
Search Revenue Stabilizing ($M)
Slide 20: Contribution ex-TAC
Contribution ex-TAC1 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 21: Adjusted EBITDA ($M)
Adjusted EBITDA1 ($M) Adjusted EBITDA/Revenue Adjusted EBITDA/Contribution ex-TAC 23% 54% 7% 7% 15% 15% 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric.
Slide 22: Q2 2025 GAAP/Non-GAAP Net Income ($M) & EPS
Q2 2025 GAAP/Non-GAAP1 Net Income ($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 23: Q2 2025 Cash from Operations & Adjusted Free Cash Flow ($M)
Q2 2025 Cash from Operations & Adjusted Free Cash Flow1 ($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 24: Net Cash ($M)
Net Cash1 ($M) 1 Includes cash, cash equivalents, short term deposits and marketable securities, as well as long-term loans, net of current maturities
Slide 25: Share Repurchase Program
Share Repurchase Program Accumulated spend ($M) Number of shares repurchased (M)
Slide 26: 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 27: Thank You.
©> PERION Thank You.
Slide 28: Appendix.
Appendix.
Slide 29: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets
Slide 30: Consolidated Statements Of Operations - GAAP
Consolidated Statements Of Operations - GAAP
Slide 31: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows
Slide 32: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results
Slide 33: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results