Perion Network Ltd · NASDAQ:PERI
Perion Network — Investor Presentation (August 2026)
83 slides from Perion Network's investor presentation, August 2026
Slide 1: Investor Presentation August 2026
Investor Presentation August 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: Perion at a Glance
Perion at a Glance NASDAQ (PERI) FY 2025 $268M Net cash $167M returned to $439.9M 2026 Guidance: as of June 30, 2026 Shareholders through a Revenue share repurchase program4 Contribution ex-TAC1 $215M - $225M2 +8% YoY $203.4M Contribution ex-TAC1 Adjusted EBITDA1 $51M - $53M +15% YoY $45.2M Adj. EBI
Slide 4: Solving The $1T Advertising Challenge
Google Solving The YouTube Meta DOOH $1T Advertising Bing Challenge Spotify Open Pinterest Web Advertiser Marketers are navigating a fragmented universe of screens, creative formats, Netflix TikTok and placements, trying to Amazon connect the dots and drive Apple business results. Reddit CTV 4
Slide 5: Perion One and Outmax
Perion One A unified multi-channel platform for Advertisers that plans, activates, optimizes, and measures campaigns across CTV, DOOH, Retail Media, Social, and the Open Web Outmax The proprietary AI agent at the core of Perion One, continuously optimizing advertiser outcomes across channels and wal
Slide 6: 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 7: From Vision to Execution: What We Built in Year One
From Vision to Execution: What We Built in Year One Clear Strategy AI-Driven Execution Growth Engines Accelerated Ecosystem partnerships Perion One Platform Introduced Outmax, our AI-agent, High double-digit growth across Retail media, data integrations, established as an AI execution available on T
Slide 8: Every Channel
@> PERION Every Channel
Slide 9: The Performance OS for Modern Marketers
The Performance OS for Modern Marketers Advertiser One AI execution layer Outmax AI Agent Multiple Audience Data and Measurement integrations including Perion owned SORT Multiple Open Web DSPs CTV - Display - Web Multiple Open Web SSPs DOOH DSP / SSP CTV - Display - Web pDOOH - Perion-owned DSP DSP
Slide 10: Perion One
Perion One Our intelligent AI infrastructure powers advertiser execution and outcomes, continuously optimizing in real time. ✔ Unified Campaign Orchestration ✔ Intelligent Insights In Real-Time ✔ Creative Discovery & Innovation ✔ Results That Matter 10
Slide 11: Perion Outmax
Perion Outmax The intelligent AI agent Every inside Perion One that Channel optimizes outcomes One Agent across channels and walled gardens. 11
Slide 12: From Impression to Outcome: Inside Outmax
From Impression to Outcome: Inside Outmax AI Optimizing in Real Time 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,
Slide 13: Ask Agentic Self Served App
Ask Agentic Self Served App 13
Slide 14: With Flexible Activations & Integrations with Leading Partners
With Flexible Activations & Integrations with Leading Partners DSPs DMPs SSPs Proprietary Tech & AI Ad Ad Dynamic Publisher SORT® Builder Server Creative Platform Audience Targeting MEASUREMENT DMP - Data Measurement Platform See glossary at the appendix to this presentation 14
Slide 15: Perion's Supply Path Partners
Perion’s Supply Path partners: Ensuring Brands Appear In The Right Context1 Web CTV/Video DOOH Audio 1 A selection of inventory across Perion’s supply partners 15
Slide 16: Every Touchpoint. One Execution Layer
Every Touchpoint. One Execution Layer Checks upcoming week’s Puts on streaming radio Drives to Work weather on her phone to get ready for the day Rebecca’s Journey Researches healthy Puts on a Podcast Opens work emails dinner meals & opens an article sent to her ◉ Awareness ◉ Consideration ◉ Sales 1
Slide 17: Cross-Channel Impact
A weather-aligned reminder during a snowy morning commute. Turning Personalized A family-friendly commercial while she’s Stories into winding down at the end Cross-Channel of the day. Impact The location-driven push she needs while she’s out on the town.
Slide 18: Personalized Experiences For Every Brand & Consumer Moment
Personalized Experiences For Every Brand & Consumer Moment Daytime & Location Weather Aligned Messaging Messaging & CTAs Local Offers & Nearby Locations Weather Triggered Product Promotion 18
Slide 19: Display
Display Full spectrum of high-impact, adaptable formats - engineered to balance performance, scale, and creative innovation. Adhesion Social Display Inline Interstitial Enhanced & (Expandable Or Performance Standard Non-Expandable) 19
Slide 20: CTV
CTV Own every CTV watching moment. Video Commercial Break Stay Live Pause Screen 20
Slide 21: Drives scale and engagement with hyper-targeted, animated storytelling experiences
Drives scale and engagement with hyper-targeted, animated storytelling experiences. 21
Slide 22: DOOH
DOOH Impactful experiences that reach your audience while they’re on the go. 22
Slide 23: Organic Growth: Land & Expand model
Organic Growth Land & Expand model 23
Slide 24: Outmax Land and Expand - Spend, Geos & Channels
Outmax Land and Expand - Spend, Geos & Channels $50K to $20M spend in 24 months $40M YouTube + Meta ● Performance drives trust, trust drives scale. $20M From a $50K YouTube test to $20M $30M cross-channel in under 3 years, earned through measurable results at every stage. $20M YouTube ● Organic budg
Slide 25: DOOH Fullstack Land and Expand
DOOH Fullstack Land and Expand 200 Euro → 506k Euro Spend a month in 90 days Dec 2025 ● Platform adoption accelerates revenue. Spend: Spend EUR€ 506,078 €200 to €500K+/month in 90 days after integrating Perion's DOOH Player as the 600k publisher's operating system. 500k ● Repeatable across formats.
Slide 26: Organic Growth: Partnerships
Organic Growth Partnerships 26
Slide 27: Amazon DSP New Partnership
Amazon DSP New Partnership This partnership brings together Perion's unique creative capabilities and premium inventory with Amazon's exclusive audience data. + ● New Premium Demand Channel: Commerce brands using Amazon as their DSP can now access Perion's solutions ● Clear differentiation: Pairs Pe
Slide 28: Walmart Connect New Partnership
Walmart Connect New Partnership Combining Walmart Connect’s powerful omnichannel media solutions with Perion’s AI-driven creative and performance capabilities empowers advertisers to: + ● Help reach shoppers more effectively through omnichannel touchpoints ● Connect media exposure to actual sales wi
Slide 29: Mastercard New Partnership
Mastercard New Partnership Mastercard Services data is now integrated into the Perion platform across Europe and the U.S + ● Advertisers can now activate aggregated purchase insights based on real consumer spend data directly within the platform ● Makes it easier than ever to reach high-intent audie
Slide 30: BestBuy Canada New Partnership
BestBuy Canada New Partnership Best Buy Canada has selected Perion as its end-to-end technology partner to power and monetize its programmatic in-store digital signage network, creating one of the largest SSP-enabled + DOOH media networks in the Canadian market. ● Extends Perion's retail media footp
Slide 31: Albertsons Media Collective Exclusive Partnership
Albertsons Media Collective Exclusive Partnership Expanding into a $60B Retail Media Market Growing at ~15% CAGR1 ● Partnership with one of the largest grocery retailers in the U.S. ● Integrates Albertsons’ first-party data with Perion’s proprietary + media technology ● Enables measurable, commerce-
Slide 32: McSorely Media & Mediamark Exclusive Partnership
McSorely Media & Mediamark 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 33: Google DV360 New Partnership
Google DV360 New Partnership Perion now supports Programmatic Guaranteed (PG) deal execution for Digital-Out-of-Home directly within Google's Display & Video 360, giving buyers access to premium DOOH inventory at global scale. + ● Extends Perion's full-stack DOOH infrastructure by enabling PG deal e
Slide 34: Acrossmedia241 New Partnership
Acrossmedia241 New Partnership Partnered with Acrossmedia241, a leading digital advertising and media technology company in Greece, to bring Outmax to agencies and brands across the region. + ● Extends Perion's distribution partner network into the region, building on Acrossmedia241's existing relat
Slide 35: FetchData via LiveRamp New Partnership
FetchData via LiveRamp New Partnership Perion has partnered with Fetch, the leading consumer rewards and purchase intelligence platform, to bring verified, SKU-level purchase data to advertisers through a LiveRamp integration. + ● Extends Perion's data infrastructure with deterministic, SKU-level pu
Slide 36: PRN New Acquisition
PRN New Acquisition Perion has acquired PRN, a leading in-store retail media company operating networks, including exclusive, multi‑year agreements, inside major retail and pharmacy chains across North America. ● Extends Perion’s reach to the point of purchase, the final layer before a purchase deci
Slide 37: Expanding Perion's TAM within the $70B+ U.S. retail media market
THE MARKET OPPORTUNITY Expanding Perion’s TAM within the $70B+ U.S. retail media market. U.S. retail media ad spend ($B) ~19% of total U.S. digital ad spending by 2030 $113B $104B $95B $84B $72B 2026 2027 2028 2029 2030 80%+ of purchases still happen in physical stores Source: EMARKETER Forecast, Ma
Slide 38: Case Studies
Case Studies 38
Slide 39: Case Study Outmax CTV
Case Study Outmax CTV 89% ↓ 1.8% ↑ CPA in 4 weeks Site visitation Rate (Cost per Acquisition) AI Optimizations Drove Efficiencies in CPA Week over Week $4.61 $1.94 $1.09 $0.53 9/25-10/1 10/2-10/8 10/9-10/15 10/16-10/22
Slide 40: Bouygues Telecom Case Study
Case Study Outmax 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 through real-time
Slide 41: C4 Energy Elevates YouTube Performance with Outmax
Case Study Outmax 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% Skippable View Rat
Slide 42: Wepner's Campaign Powered by Outmax
Case Study Outmax Wepner’s Campaign Powered by Perion’s -27% Outmax Improves Media Efficiency While Reduction in Carbon Intensity Reducing Environmental Impact Leveraging Perion Outmax, Wepner delivered standout performance across YouTube and Meta, driving both awareness and traffic at scale while i
Slide 43: Uber's Real-Time DOOH Campaign
Case Study DOOH Uber's Real-Time DOOH Campaign Drives Safety Feature Adoption Through Cultural Relevance Partnering with OMD, Uber leveraged Perion's programmatic DOOH capabilities during Mexico City's iconic Catrinas Parade to connect its PIN Code safety feature to a culturally relevant moment. By
Slide 44: Ford's Outmax-Powered Campaign
Case Study Outmax Ford’s Outmax-Powered Campaign -33% Improved Media Performance While Reduction in Carbon Intensity Reducing Environmental Impact Leveraging Perion Outmax, Ford delivered stronger YouTube performance while reducing the carbon footprint of its media investment. Through AI-powered car
Slide 45: Vaseline Live UV Data DOOH Case Study
Case Study DOOH 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: ● Green f
Slide 46: A Trusted Partner of The Most Recognized Brands & Agencies
A Trusted Partner of The Most Recognized Brands & Agencies 46
Slide 47: Our Path Forward: Executing Our Transformation Plan
Our Path Forward Executing Our Transformation Plan 2024 2025 2026 - 2028 Resetting the Business Building the Scaling Platform, for Platform-Led Growth Perion One Platform Intelligence & technology ● Acquired Hivestack to enter ● Launched Perion One strategy, ● Perion One orchestrates the fast-growin
Slide 48: Perion 2028: Scaling Perion One with Profitable Growth
Perion 2028: Scaling Perion One with Profitable Growth 2028 Targets 25%+ 20%+ 28% 1 1 Perion One pro forma Perion One pro forma Perion Adj. EBITDA2 to spend Contribution ex-TAC2 Contribution ex-TAC2 3-Y CAGR 3-Y CAGR Plan Catalysts Land & Expand Performance AI Capital Increase customer stickiness Sh
Slide 49: Perion 2028 Targets: Spend
Perion 2028 Targets Perion One Platform Pro forma2 Spend Surge $1.2B Perion One Platform Spend Surges Perion One Spend ● 2022-2025 CAGR: 34% $0.6B ● 2025-2028 CAGR: 25%+ Search & Legacy1 expected to remain stable $0.2B 1 Includes Search and discontinued low-margin historical activities 49 2 Pro form
Slide 50: Perion 2028 Targets: Contribution ex-TAC
Perion 2028 Targets Perion One Platform Pro forma1 Contribution ex-TAC R AG +C 20% Contribution ex-TAC2 ● 2022-2025 CAGR: 19% 19% CAGR ● 2025-2028 CAGR: 20%+ Perion One platform 2026 Contribution ex-TAC reflects 85-90% of total. 1 Pro forma numbers exclude search and discontinued legacy. 50 2 Contri
Slide 51: Perion 2028 Targets: Adjusted EBITDA Margin
Perion 2028 Targets Perion Consolidated Adjusted EBITDA1 Margin Growth Target Perion consolidated Adjusted EBITDA/Contribution ex-TAC1 margin of 28% Catalysts Investments Disciplined Cost Management to drive operational leverage Invest to Scale Efficiency 2026 investment in technology and go-to-mark
Slide 52: Financial KPIs Q2 2026
Financial KPIs Q2 2026 52
Slide 53: Spend
Spend Perion Total Spend ($M) Perion Spend by Product Lines ($M) Perion One + Legacy represent Advertising Solutions 53 Legacy includes low-margin historical activities Numbers may not add due to rounding
Slide 54: Revenue
Revenue Perion Total Revenue ($M) Perion Revenue by Product Lines ($M) Advertising Solutions revenue is comprised of Perion One + Legacy Legacy includes low-margin historical activities 54 Numbers may not add due to rounding
Slide 55: Contribution ex-TAC
Contribution ex-TAC1 Perion One Contribution ex-TAC representing 83% of total contribution ex-TAC in Q2’26, up from 76% in Q2’25 Perion Contribution ex-TAC ($M) & Margin (%) Perion Contribution ex-TAC by Category ($M) 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliat
Slide 56: Growth Engines
Growth Engines Perion’s primary growth drivers consistently outpacing the broader market growth1 on CTV and DOOH channels, Retail Media vertical, alongside the adoption of our AI Agent technology, Outmax. 1 Source: eMarketer data, June 2026 56 See glossary at the appendix to this presentation
Slide 57: Growth Engines - CTV Spend
Growth Engines - CTV Spend ($M) CTV Channel grew 56% in Q2’26 Vs 17.5% Expected U.S. Market Growth in 2026 1 Source: eMarketer data, June 2026 57 See glossary at the appendix to this presentation
Slide 58: Growth Engines - DOOH Spend
Growth Engines - DOOH Spend ($M) DOOH channel grew 45% in Q2’26 Vs 16.3% Expected U.S. Market Growth in 2026 1 Source: eMarketer data, June 2026 58 See glossary at the appendix to this presentation
Slide 59: Growth Engines - Retail Media Spend
Growth Engines - Retail Media Spend ($M) (Market vertical; includes CTV, DOOH, DIsplay and other channels) Retail Media grew 60% in Q2’26 Vs 20.3% Expected U.S. Market Growth in 2026 1 Source: eMarketer data, June 2026 59 See glossary at the appendix to this presentation
Slide 60: Growth Engines - Outmax Spend
Growth Engines - Outmax Spend1 ($M) (AI Agent Tech Solution; includes CTV, Social, DIsplay and other channels) Outmax AI Agent grew 136% YoY in Q2’26 1 On a pro forma basis Numbers may not add due to rounding 60 See glossary at the appendix to this presentation
Slide 61: Financial Results & Outlook Q2 2026
Financial Results & Outlook Q2 2026 61
Slide 62: Q2 Key Financial Highlights
Q2 Key Financial Highlights Results Growth Engines Highlights Perion One Spend $156.7M Narrowing guidance Range $194.7M $98.2M 15% YoY growth Spend1 Revenue Channels 56% 45% 2028 Target Plan on track YoY Spend growth YoY Spend growth $42.3M $2.8M CTV DOOH Contribution Adjusted Balanced, disciplined
Slide 63: Adjusted EBITDA ($M) and Margins
Adjusted EBITDA1 ($M) and Margins Excluding FX impact of $1.6M in constant currency 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric. 63
Slide 64: GAAP and Non-GAAP Net Income (Loss) & EPS
GAAP and Non-GAAP1 Net Income (Loss) ($M) & EPS ($) GAAP Net Loss Non-GAAP Net Income 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric. 64
Slide 65: Cash from Operations & Adjusted Free Cash Flow
Cash from Operations & Adjusted Free Cash Flow1 ($M) Continued Momentum Drives Higher Spend Highlighting the cash-generative nature of our business model 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
Slide 66: Disciplined Cash Deployment
Disciplined Cash Deployment Low CapEx, Strong FCF1, Aggressive Shareholder Returns ($M) Investing in Growth While Maximizing Shareholder Returns 2 2 1 Non-GAAP metrics. Please see the Appendix to this presentation for a reconciliation of each to the nearest GAAP metric. 2 Mid-point range of 75% to 8
Slide 67: Net Cash ($M)
Net Cash1 ($M) Creating Value to Shareholders Returning cash Generating cash to shareholders from operations Investing in Organic growth 67 1 Includes cash, cash equivalents, short term deposits and marketable securities
Slide 68: Share Repurchase Program
Share Repurchase Program $200 million authorized plan expected to be fully executed by year-end Accumulated spend ($M) Number of shares repurchased (M) & Average Share Price ($) 68
Slide 69: Forward Outlook
Forward Outlook Scaling Platform, Intelligence & Technology 2026 Guidance: Previous Updated YoY3 2H’26 Drivers: Contribution ex-TAC1 $215M - $235M $215M - $225M2 +8% YoY ● Continued scale and adoption of Perion One’s growth engines Adjusted EBITDA1 $50M - $54M $51M - $53M +15% YoY ● Growing pipeline
Slide 70: Why Invest
Large Omnichannel Profitability Growth Opportunity & Cash Generation1 Strong focus on high-growth channels Over a decade of positive annual and market verticals: Adjusted EBITDA & Operating Cash Flow, CTV, DOOH & Retail Media, through combined with efficient operations with integrated cross-channel
Slide 71: Appendix
Appendix. 71
Slide 72: How We Measure our Business
How We Measure our Business Spend and Contribution ex-TAC1 Spend and Contribution ex-TAC are the true indicators of our underlying growth, reflecting platform adoption and scale Spend Revenue Contribution EX-TAC (Represents Customer Adoption) (Net Revenue) Spend Contribution EX-TAC What it is: Total
Slide 73: Glossary
Glossary Definitions of the key terms used throughout this presentation Spend Gross advertiser and media dollars activated through Perion. A measure of scale and adoption. Total reported revenue, recognized on either a gross or net basis in accordance with GAAP accounting principles, Revenue dependi
Slide 74: Glossary
Glossary Definitions of the key terms used throughout this presentation Perion's proprietary AI agent embedded within Perion One. It automatically optimizes advertiser campaigns Outmax across channels and walled gardens in real time, driving outcome-based performance. Demand-Side Platform, technolog
Slide 75: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets 75
Slide 76: Consolidated Statements Of Operations - GAAP
Consolidated Statements Of Operations - GAAP 76
Slide 77: Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows 77
Slide 78: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results 78
Slide 79: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results 79
Slide 80: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results 80
Slide 81: Reconciliation of GAAP to Non-GAAP Full Year 2026 Guidance
Reconciliation of GAAP to Non-GAAP Full Year 2026 Guidance 81
Slide 82: Perion One Spend - Distribution by Channel ($M)
Perion One Spend - Distribution by Channel ($M) Numbers may not add due to rounding 82 Social includes activities driven by the Outmax AI agent
Slide 83: Thank You
Thank You. 93 PERION