The following is a summary of the Perion Network Ltd. (PERI) Q2 2024 Earnings Call Transcript:
Financial Performance:
Perion reported Q2 revenue of $108.7 million, a 39% year-over-year decrease.
Adjusted EBITDA was $7.7 million, down 81% year-over-year, with an adjusted EBITDA margin of 7%.
GAAP net loss was $6.2 million, while non-GAAP net income was $13.4 million.Notable growth in specific sectors: CTV revenue grew by 42% year-over-year to $10.2 million, digital out-of-home grew 41% year-over-year to $13 million, and retail media increased 75% year-over-year to $17.6 million.
Business Progress:
Significant advancements in Perion's advertising technologies, especially in the programmatic digital out-of-home sector.
Extension of advanced CTV technology to YouTube's CTV platform.
Launch of new retail and commerce advertising functionalities, notably the 'click to cart' feature.
New integrations and partnerships to enhance omni-channel campaign effectiveness.
Opportunities:
Strong potential in CTV and digital out-of-home sectors, as indicated by outpacing market growth projections in these areas.
Risks:
Reduction in open web video and standard display formats leading to revenue declines in these areas.
More details: Perion Network IR
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