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Perion Network
(NASDAQ:PERI)
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Rating:58Neutral
Price Target:
$10.00
▲(7.30% Upside)
Action:Reiterated
Date:08/18/26
The score is held back primarily by the weakened income statement (revenue contraction and losses) despite supportive balance-sheet strength and still-positive cash generation. The latest earnings call adds support via reaffirmed profitability expectations for H2 and strong strategic platform momentum, while technicals are moderately favorable. Valuation remains a headwind because the company is currently loss-making (negative P/E) and no dividend yield is provided.
Positive Factors
Perion One Adoption
Rising Perion One adoption indicates successful migration toward a unified, technology-led platform. Its larger contribution share can improve customer retention, campaign integration and operating leverage as scale increases.
Negative Factors
Revenue and Profitability Decline
Sustained revenue contraction and operating losses weaken the company’s earnings base and limit visibility into self-funded growth. Low-30% gross margins remain intact, but cost absorption and demand softness are currently overwhelming gross profit.
Read all positive and negative factors
Positive Factors
Negative Factors
Perion One Adoption
Rising Perion One adoption indicates successful migration toward a unified, technology-led platform. Its larger contribution share can improve customer retention, campaign integration and operating leverage as scale increases.
Read all positive factors
Perion Network Key Performance Indicators (KPIs)
Any
Revenue by Segment
Analyzes revenue across different business units, highlighting which segments drive growth and profitability, and where strategic focus might be needed.
Analyzes revenue across different business units, highlighting which segments drive growth and profitability, and where strategic focus might be needed.
Data provided by:
The Fly
The FlyPerion Network (PERI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$385.04M
Dividend YieldN/A
Average Volume (3M)416.45K
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue Growth2.86%
EPS Growth-195.80%
CountryUS
Employees511
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-0.34
Shares Outstanding39,330,320
10 Day Avg. Volume265,723
30 Day Avg. Volume416,446
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)0.60
Price to Sales (P/S)0.92
P/FCF Ratio10.57
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$13.00Price Target Upside39.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)1.18
Revenue Forecast (FY)$463.83M
Perion Network Business Overview & Revenue Model
Company Description
Perion Network Ltd. is a global provider of sophisticated digital advertising technology, delivering comprehensive solutions to brands, advertising agencies, and content publishers across North America, Europe, and various international markets. T...
How the Company Makes Money
Perion primarily makes money by generating revenue from digital advertising services and related technology that support campaign execution and media monetization. A core revenue stream comes from media buying and optimization for advertisers: Per...
Perion Network Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive strategic picture: strong adoption and rapid growth across key growth engines (Outmax, CTV, DOOH, Retail Media) with meaningful product, data and distribution wins, solid cash reserves and an ongoing share repurchase program. Near-term financials show pressure—revenue and contribution declines, promotional-driven margin compression, search weakness, FX headwinds and a modest adjusted EBITDA—partly due to deliberate investments and slower onboarding of large deals. Management expects normalization of take rates, H2 margin inflection, and material upside as strategic agreements fully ramp. Given the significant growth signals in core strategic areas and a clear plan to address near-term headwinds, the overall tone is constructive.Positive Updates
Perion One Spend Growth
Perion One platform spend rose 15% year-over-year to $156.7M in Q2, representing 80% of total spend (up from 76% a year ago), signaling strong adoption of the unified platform.
Negative Updates
Revenue and Contribution Declines
Quarterly revenue declined 5% YoY to $98.2M; total contribution ex-TAC declined 11% YoY to $42.3M. Perion One contribution ex-TAC declined 4% YoY to $34.9M, reflecting near-term margin pressure.
Read all updates
Q2-2026 Updates
Positive
Negative
Perion One Spend Growth
Perion One platform spend rose 15% year-over-year to $156.7M in Q2, representing 80% of total spend (up from 76% a year ago), signaling strong adoption of the unified platform.
Read all positive updates
Company Guidance
Perion narrowed its full‑year 2026 outlook to contribution ex‑TAC of $215–$225 million and adjusted EBITDA of $51–$53 million (implying a ~24% adjusted EBITDA margin at the midpoint), driven by large strategic agreements now in onboarding expected to begin contributing late Q3 and accelerate in Q4/2026 into 2027, plus continued scaling of Perion One, efficiency measures and modestly improving take rates in H2. The guidance is supported by Q2 operating trends — Perion One spend of $156.7M (+15% YoY), total spend $194.7M (+9% YoY), Perion One contribution ex‑TAC $34.9M (83% of total contribution), revenue $98.2M (‑5% YoY) and Q2 adjusted EBITDA of $2.8M (7% margin of contribution ex‑TAC; $1.6M FX headwind; $4.4M ex‑FX) — and by a strong balance sheet with $268M cash, $0 debt and ongoing buybacks (2.7M shares for $24.5M in Q2; $33.2M remaining under the current plan).Perion Network Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 436.22M | 439.93M | 498.29M | 743.15M | 640.26M | 478.50M |
| Gross Profit | 138.26M | 133.97M | 165.45M | 272.36M | 237.25M | 165.28M |
| EBITDA | 7.58M | 12.70M | 21.83M | 149.33M | 127.50M | 55.33M |
| Net Income | -12.87M | -7.93M | 12.61M | 114.96M | 99.22M | 38.71M |
Balance Sheet | ||||||
| Total Assets | 851.41M | 913.76M | 915.53M | 1.08B | 871.01M | 713.23M |
| Cash, Cash Equivalents and Short-Term Investments | 269.02M | 314.08M | 373.33M | 472.68M | 430.92M | 321.65M |
| Total Debt | 22.09M | 42.39M | 22.30M | 7.65M | 11.48M | 13.39M |
| Total Liabilities | 228.62M | 237.75M | 192.59M | 359.12M | 287.88M | 246.27M |
| Stockholders Equity | 622.79M | 676.01M | 722.94M | 718.15M | 583.13M | 466.96M |
Cash Flow | ||||||
| Free Cash Flow | 35.11M | 38.17M | 67.00K | 154.65M | 121.06M | 70.48M |
| Operating Cash Flow | 38.69M | 41.93M | 6.94M | 155.46M | 122.12M | 71.11M |
| Investing Cash Flow | -8.96M | -37.40M | 62.60M | -133.35M | -46.82M | -243.47M |
| Financing Cash Flow | -83.22M | -71.05M | -100.91M | -10.82M | -3.26M | 229.05M |
Perion Network Technical Analysis
Positive
9.32
Price Trends
9.20
Positive
9.56
Positive
9.44
Positive
Market Momentum
0.12
Positive
54.14
Neutral
74.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PERI, the sentiment is Positive. The current price of 9.32 is below the 20-day moving average (MA) of 9.60, above the 50-day MA of 9.20, and below the 200-day MA of 9.44, indicating a bullish trend. The MACD of 0.12 indicates Positive momentum. The RSI at 54.14 is Neutral, neither overbought nor oversold. The STOCH value of 74.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PERI.
Perion Network Risk Analysis
Perion Network disclosed 67 risk factors in its most recent earnings report. Perion Network reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Perion Network Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $1.82B | 15.33 | 11.76% | 4.33% | 24.83% | 73.88% | |
69 Neutral | $1.09B | 9.42 | 12.80% | ― | 8.00% | 991.05% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | $385.04M | -28.61 | -1.95% | ― | 2.86% | -195.80% | |
58 Neutral | $323.92M | 10.53 | 7.20% | ― | -0.18% | 63.89% | |
50 Neutral | $278.48M | -1.51 | -32.15% | ― | ― | ― | |
49 Neutral | $210.23M | -0.96 | -39.81% | 24.73% | -10.81% | -409.24% |
* Communication Services Sector Average
PERI
Perion Network
9.64
0.38
4.10%
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-61.37%
TBLA
Taboola.com
3.83
0.56
17.13%
TTGT
TechTarget, Inc.
3.85
-2.22
-36.57%
Perion Network Corporate Events
Perion Network Narrows 2026 Outlook as Q2 Results Highlight Shift to CTV, DOOH and AI
Aug 10, 2026
On August 10, 2026, Perion reported second-quarter 2026 results showing Perion One ad spend up 15% year-on-year to $156.7 million, driven by strong gains in connected TV, digital out-of-home, retail media and its Outmax AI agent, even as total rev...
Perion Network Sets August 10 Date for Q2 2026 Earnings Release
Jul 20, 2026
Perion Network, a dual-listed company on NASDAQ and TASE, said on July 20, 2026 that it will publish its second-quarter 2026 financial results before U.S. markets open on Monday, August 10, 2026. The announcement underscores the firm’s ongoi...
Perion Network Partners With Acrossmedia241 to Roll Out Outmax AI Across Greece and CEE
Jul 8, 2026
On July 8, 2026, Perion Network announced a partnership with Greek digital advertising and media technology firm Acrossmedia241 to distribute its Outmax AI agent to agencies and brands in Greece and the wider Central and Eastern European region. T...
Perion Network Updates Investor Presentation, Sets 2026 Guidance and 2028 Growth Targets
Jun 29, 2026
On June 29, 2026, Perion Network filed a Form 6-K noting it had published an updated investor presentation and furnished it to U.S. regulators, integrating the materials into several existing registration statements. The presentation highlights 20...
Perion Unveils Ask Perion AI App to Advance Self-Serve Digital Advertising
Jun 18, 2026
On June 18, 2026, Perion launched Ask Perion, a self-serve agentic interface within its Perion One platform, together with an accompanying mobile app unveiled at Cannes Lions 2026. The tools aim to simplify omnichannel campaign management by turni...
Perion Chosen by Best Buy Canada to Power New Programmatic Retail DOOH Network
Jun 16, 2026
On June 16, 2026, Perion announced a strategic partnership with Best Buy Canada, the country’s largest consumer electronics omnichannel retailer, to serve as the full-stack technology partner for its in-store digital-out-of-home media networ...
Perion’s AI Ad Platforms Drive Growth Engines as Q1 2026 Results Show Modest Revenue Rise and Strong Cash Flow
May 20, 2026
On May 20, 2026, Perion reported first-quarter 2026 results showing modest top-line growth, with revenue rising 1% year-on-year to $90.4 million and contribution ex-TAC steady at $39.7 million, even as GAAP net loss widened to $10 million and adju...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.