Perion’s Strong 2020 Momentum Continues, Increases its Annual Revenue & Adjusted EBITDA Guidance Due to Expected 31% Year O...
March 02 2021 - 06:00AM
Business Wire
Investor Day on March 8th to Showcase Multiple
Growth Drivers Helping Perion to Gain Market Share in the Large and
Growing Global Digital Advertising Market
Perion Network Ltd. (NASDAQ: PERI), a global technology company
that delivers its Synchronized Digital Branding solution across the
three main pillars of digital advertising - ad search, social media
and display / video and CTV advertising – today updated 2021
revenue and Adjusted EBITDA guidance thanks to strong start of the
year.
“Perion's momentum is being driven by our ability to rapidly
benefit from shifts in spending across the 3 main pillars of
digital advertising – display, video and CTV, social advertising,
as well as the growing spend of search advertising.” Said Doron
Gerstel, Perion’s CEO. “Based on the strong business momentum we
expect revenue for the first quarter of 2021 to range between
$86-$87 million reflecting a 31% YoY growth. Adjusted EBITDA in the
first quarter of 2021 is expected to be at least $7.2 million
compared to $6.2 million in the first quarter of 2020”.
($M)
Prior Guidance
Revised Guidance
Full Year 2021
Full Year 2021
Revenue
$350-$370
$370-$380
Adjusted EBITDA
$35-$37
$37-$38
“There’s no better way to showcase the value of Perion’s digital
advertising solutions than to invite some of our most valuable
customers to share their experiences with the investor community,”
Mr. Gerstel added, “I hope all those interested will join me in
listening to what Mr. Jorge Irizar Global COO of Havas Media,
Newsweek's CEO Dev Pragad and other industry leaders have to say
about our social advertising platform, content monetization engine,
and other key Perion growth areas.”
The event will begin at 10:00 a.m. Eastern Time and will end at
12PM EST. A live video webcast will be streamed along with
accompanying slides. All interested parties are invited to join the
virtual event by registering in advance through the following
registration link:
https://www.eventbrite.com/e/perions-investor-and-analyst-day-2021-registration-141815994457
A replay of the webcast and slides shown during the
presentations will also be made available on the Company’s investor
relations website at http://www.perion.com/investors, following the
event.
About Perion Network Ltd.
Perion is a global technology company that provides agencies,
brands and publishers with innovative solutions that cover the
three main pillars of digital advertising. From its data-driven
Synchronized Digital Branding platform and high-impact ad formats
in the display domain; to its powerful social media platform; to
its branded search network, Perion is well-positioned to capitalize
on any changes in marketers’ allocation of digital advertising
spend. More information about Perion can be found at
www.perion.com.
Non-GAAP measures
Adjusted Earnings Before Interest, Taxes, Depreciation and
Amortization ("Adjusted EBITDA") is defined as operating income
excluding stock-based compensation expenses, depreciation,
restructuring costs, acquisition related items consisting of
amortization of intangible assets and goodwill and intangible asset
impairments, acquisition related expenses, gains and losses
recognized on changes in the fair value of contingent consideration
arrangements and certain accounting entries under the business
combination accounting rules that require us to recognize a legal
performance obligation related to revenue arrangements of an
acquired entity based on its fair value at the date of acquisition.
The purpose of such adjustments is to give an indication of our
performance exclusive of non-cash charges and other items that are
considered by management to be outside of our core operating
results. These non-GAAP measures are among the primary factors
management uses in planning for and forecasting future periods.
Furthermore, the non-GAAP measures are regularly used internally to
understand, manage and evaluate our business and make operating
decisions, and we believe that they are useful to investors as a
consistent and comparable measure of the ongoing performance of our
business. However, our non-GAAP financial measures are not meant to
be considered in isolation or as a substitute for comparable GAAP
measures and should be read only in conjunction with our
consolidated financial statements prepared in accordance with GAAP.
Additionally, these non-GAAP financial measures may differ
materially from the non-GAAP financial measures used by other
companies. A reconciliation of guidance from a GAAP to Non-GAAP
basis is not available due to the unpredictability and uncertainty
associated with future events that would be reported in GAAP
results and would require adjustments between GAAP and Non-GAAP
financial measures. Accordingly, a reconciliation of the guidance
based on Non-GAAP financial measures to corresponding GAAP
financial measures for future periods is not available without
unreasonable effort.
Forward Looking Statements
This press release contains historical information and
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995 with respect to the
business, financial condition and results of operations of Perion.
The words “will”, “believe,” “expect,” “intend,” “plan,” “should”
and similar expressions are intended to identify forward-looking
statements. Such statements reflect the current views, assumptions
and expectations of Perion with respect to future events and are
subject to risks and uncertainties. Many factors could cause the
actual results, performance or achievements of Perion to be
materially different from any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements, or financial information, including,
among others, the failure to realize the anticipated benefits of
companies and businesses we acquired and may acquire in the future,
risks entailed in integrating the companies and businesses we
acquire, including employee retention and customer acceptance; the
risk that such transactions will divert management and other
resources from the ongoing operations of the business or otherwise
disrupt the conduct of those businesses, potential litigation
associated with such transactions, and general risks associated
with the business of Perion including intense and frequent changes
in the markets in which the businesses operate and in general
economic and business conditions, loss of key customers,
unpredictable sales cycles, competitive pressures, market
acceptance of new products, inability to meet efficiency and cost
reduction objectives, changes in business strategy and various
other factors, whether referenced or not referenced in this press
release. Various other risks and uncertainties may affect Perion
and its results of operations, as described in reports filed by
Perion with the Securities and Exchange Commission from time to
time, including its annual report on Form 20-F for the year ended
December 31, 2019 filed with the SEC on March 16, 2020. Perion does
not assume any obligation to update these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210302005555/en/
Perion Network Ltd. Rami Rozen, VP of Investor Relations
+972 (52) 5694441 ramir@perion.com
Perion Network (NASDAQ:PERI)
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