Perion Network Stock Jumps On Q3 Beat, Strong Outlook

  • Perion Network Ltd PERI reported third-quarter FY21 revenue growth of 45% year-on-year to $121 million, beating the consensus of $108.96 million.
  • Display and Social Advertising revenues rose 82% Y/Y to $69 million, fueled by the growth of 245% in video and CTV, a 30% increase in average revenues per client, and a 12% increase in the number of clients.
  • Search Advertising and other revenues increased 14% Y/Y to $52 million, due to 14.7 million of average daily monetizable search queries compared to 12.8 million in the Q3 of 2020 and the addition of 17 publishers to its network.
  • Non-GAAP EPS of $0.40 beat the analyst consensus of $0.17.
  • The Adjusted EBITDA/Revenue Ex TAC expanded 1,100 bps to 37%. The adjusted EBITDA margin expanded 400 bps to 14.5%.
  • Perion Network generated $14.2 million in operating cash flow and held $156.2 million in cash and equivalents.
  • Outlook: Perion raised the FY21 revenue outlook from the previous $415 million- $430 million to $455 million - $465 million against the consensus of $438.3 million.
  • It raised the FY22 revenue outlook from $490 million - $520 million to $580 million - $600 million versus the consensus of $559.8 million.
  • Price action: PERI shares traded higher by 20.9% at $26.76 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsLong IdeasNewsGuidanceSmall CapMoversTechTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!