Perion Network Ltd.
- Open
- 9.65
- Day high
- 9.87
- Day low
- 9.58
- Prev close
- 9.71
- Volume
- 191K
- Mkt cap
- $387M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.6
- P/S
- 0.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$100K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
Perion Network Ltd. (PERI) is a Communication Services company listed on NASDAQ. The stock is down 11% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Perion Network Ltd. (PERI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PERI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 20, 2026 | $0.06 | $0.11 | +83.3% | $90M | -1.5% |
| Feb 18, 2026 | $0.49 | $0.49 | +0.0% | $137M | +47.6% |
| Nov 12, 2025 | $0.26 | $0.28 | +7.7% | $110M | +2.5% |
| Feb 19, 2025 | $0.34 | $0.33 | -2.9% | $130M | +37.8% |
| Jul 31, 2024 | $0.22 | $0.26 | +18.2% | $109M | +1.6% |
| Feb 7, 2024 | $0.82 | $0.78 | -4.9% | $234M | +0.5% |
| Nov 1, 2023 | $0.63 | $0.65 | +3.2% | $185M | +0.5% |
| Aug 2, 2023 | $0.71 | $0.84 | +18.3% | $178M | -3.2% |
| May 3, 2023 | $0.43 | $0.48 | +11.6% | $145M | +2.7% |
| Feb 8, 2023 | $0.59 | $0.79 | +33.9% | $210M | +2.3% |
| Nov 9, 2022 | $0.44 | $0.53 | +20.5% | $159M | +0.4% |
| Aug 3, 2022 | $0.32 | $0.41 | +28.1% | $147M | +0.4% |
PERI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 4, 2026 | Yap Stephen Mooreofficer: CRO | Sell | 3,112 | $10.44 |
| Apr 6, 2026 | VORHAUS MICHAELdirector | Sell | 2,160 | $10.00 |
| Apr 6, 2026 | Kaplan Eyaldirector | Sell | 2,915 | $10.00 |
| Apr 6, 2026 | Marcus Joy Sharondirector | Sell | 1,689 | $10.00 |
| Jul 11, 2008 | LONGVIEW FUND LP10 percent owner | Sell | 900,000 | $2.60 |
| Jul 1, 2008 | LONGVIEW FUND LP10 percent owner | Sell | 900,000 | $2.60 |
| Jun 6, 2008 | LONGVIEW FUND LP10 percent owner | Sell | 94,000 | $3.01 |
| Nov 29, 2007 | LONGVIEW FUND LP10 percent owner | Buy | 15,000 | $7.79 |
| Oct 2, 2007 | LONGVIEW FUND LP10 percent owner | Buy | 9,800 | $9.00 |
| Oct 2, 2007 | LONGVIEW FUND LP10 percent owner | Buy | 9,700 | $9.02 |
| Sep 24, 2007 | LONGVIEW FUND LP10 percent owner | Buy | 100,000 | $8.52 |
| Sep 18, 2007 | LONGVIEW FUND LP10 percent owner | Buy | 25,000 | $8.18 |
| Sep 18, 2007 | LONGVIEW FUND LP10 percent owner | Buy | 17,500 | $8.59 |
| Sep 18, 2007 | LONGVIEW FUND LP10 percent owner | Buy | 76,236 | $8.39 |
| Jul 9, 2007 | LONGVIEW FUND LP10 percent owner | Buy | 1,730 | $7.42 |
Source: PERI SEC Form 4 filings, latest May 4, 2026. For informational purposes only — not investment advice.
See the full PERI insider & 13F page →Perion Network Ltd. company profile
Overview
Perion Network Ltd. (NASDAQ:PERI) is an Israeli digital advertising technology company founded in 1999 and headquartered in Holon, Israel. Originally known as IncrediMail Ltd., the company rebranded to Perion Network in 2011 and went public in 2006. Perion has evolved from an email software provider into a comprehensive digital advertising solutions platform, serving brands, agencies, and publishers across North America, Europe, and international markets. The company has undergone significant strategic transformation in recent years, positioning itself as an AI-driven advertising technology company focused on emerging channels like Connected TV (CTV), digital out-of-home advertising, and retail media.
Business
Perion operates in the digital advertising technology sector, providing software-as-a-service platforms and solutions that help advertisers reach consumers across multiple digital channels. The company's core business revolves around programmatic advertising, which is the automated buying and selling of digital advertising space using algorithms and real-time bidding systems. The company operates through two primary business segments. Advertising Solutions represents approximately 80% of total revenue and includes Connected TV advertising, digital out-of-home advertising, retail media solutions, social media advertising, and open web display advertising. This segment leverages Perion's proprietary technology platforms to deliver targeted advertising campaigns across various digital channels. Search Advertising comprises about 20% of revenue and involves monetizing search traffic through partnerships with search engines like Microsoft Bing, where Perion helps website publishers and app developers generate revenue from search queries. Within the Advertising Solutions segment, several key growth areas have emerged. Digital Out-of-Home advertising involves placing digital advertisements on screens in public spaces like billboards, transit stations, and retail locations, representing about 19% of total company revenue with 80% year-over-year growth. Connected TV (CTV) advertising places ads within streaming video content on smart TVs and streaming devices, accounting for 12% of revenue with 31% growth. Retail Media helps retailers monetize their digital properties by allowing brands to advertise directly on retailer websites and apps, showing 33% year-over-year growth. The company has developed several proprietary technologies including Wildfire, a content monetization platform; SORT (Strategic Optimization of Relevant Traits), a cookieless targeting solution that uses AI to identify audiences without relying on traditional web cookies; and PerionOne, a unified platform that integrates all of the company's advertising technologies and channels into a single interface for advertisers.
Competitive moat
Perion's competitive moat appears moderate but fragile in the highly competitive digital advertising technology landscape. The company's primary defensive advantages include its proprietary AI technologies, particularly the SORT cookieless targeting solution, which could provide a temporary competitive edge as the industry transitions away from third-party cookies. The company has also built meaningful scale in emerging advertising channels like digital out-of-home and Connected TV, where it has achieved growth rates significantly above market averages. However, Perion faces substantial competitive threats that limit the durability of its moat. Major technology platforms like Google, Amazon, Meta, and The Trade Desk possess significantly greater resources, data assets, and advertiser relationships. These "walled garden" platforms increasingly capture larger shares of digital advertising spend and can integrate advertising solutions more seamlessly with their core products. Established advertising technology companies like Criteo, MediaMath, and numerous demand-side platforms compete directly with Perion's offerings, often with deeper pockets and more extensive global reach. The company's moat is further challenged by the commoditization risk inherent in programmatic advertising technology. As advertising automation becomes more standardized, differentiation increasingly depends on data quality, algorithm performance, and integration capabilities rather than proprietary technology alone. Perion's recent strategic pivot toward AI-driven solutions and emerging channels represents an attempt to strengthen its competitive position, but success is not guaranteed given the rapid pace of technological change and the substantial investments required to maintain technological leadership. The loss of the Microsoft Bing search partnership, which historically provided high-margin revenue, demonstrates the vulnerability of Perion's business model to partner concentration and highlights the challenge of building sustainable competitive advantages in the digital advertising ecosystem.
Risks & safety
Perion maintains a strong financial position with substantial cash reserves and low debt levels, providing significant downside protection despite recent operational challenges. • Liquidity and Solvency: Cash and short-term investments of $150.7 million with minimal debt (debt-to-equity ratio of 3.0%), current ratio of 4.0x indicates strong liquidity position. Recent negative free cash flow of -$8.7 million in Q1 2025 raises some concern but appears manageable given cash reserves. • Valuation Metrics: Trading at 0.51x price-to-book ratio suggests potential undervaluation relative to book value. However, negative EBITDA in recent quarter makes traditional valuation metrics less reliable. Enterprise value appears reasonable given the company's transformation phase. • Other Considerations: Company has initiated share repurchase program indicating management confidence. Strong balance sheet provides runway for strategic investments and acquisitions. Revenue guidance increase for 2025 suggests management sees improving fundamentals despite recent losses.
Recent development
Perion has undergone significant strategic transformation over the past few years, pivoting from a search-focused advertising company to a diversified AI-driven advertising technology platform. The most significant development has been the launch of PerionOne, a unified platform that integrates all of the company's advertising technologies and channels into a single interface, representing a major technological and operational consolidation effort. The company has made substantial investments in emerging advertising channels, achieving remarkable growth in digital out-of-home advertising (80% year-over-year growth), Connected TV (31% growth), and retail media (33% growth). These channels now represent the majority of the company's growth strategy as traditional web and search advertising decline. To support this expansion, Perion has recruited senior executives from major technology companies including Google, Criteo, and Samsung Ads. Artificial intelligence development has become central to Perion's strategy, with the company developing multiple AI-powered solutions including SORT 2.0 for cookieless audience targeting, WAVE for generative AI audio advertising, and AI-powered creative optimization tools. The recent acquisition of Greenbids, an AI-driven bidding algorithm company, demonstrates the company's commitment to enhancing its AI capabilities and expanding its European presence. The company has also navigated significant partnership transitions, most notably the non-renewal of its Microsoft Bing search contract, which historically provided high-margin revenue. This loss has accelerated Perion's diversification efforts and focus on proprietary technology development. Despite these challenges, management has maintained optimistic guidance, raising 2025 revenue expectations to $430-450 million and adjusted EBITDA guidance to $44-46 million, suggesting confidence in the strategic transformation's success.
PERI company profile · for informational purposes only — not investment advice.
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