NEW YORK - Perion Network Ltd. (NASDAQ:PERI) reported third-quarter results that exceeded analyst expectations on Wednesday, driven by robust performance across its growth engines, particularly in connected TV (CTV).
The advertising technology company’s shares surged 5.47% in pre-market trading after the results.
The company posted adjusted earnings per share of $0.28, beating the analyst consensus of $0.25. Revenue reached $110.5 million, up 8% YoY and above the $107.94 million analysts had expected. Contribution ex-TAC, which excludes traffic acquisition costs, grew 7% YoY to $51 million. Adjusted EBITDA showed impressive growth, increasing 63% YoY to $12.1 million.
"This quarter marks an important inflection point for Perion," said Tal Jacobson, Perion’s CEO. "We delivered year-over-year growth across all major metrics — revenue, contribution ex-TAC, and adjusted EBITDA — driven by the strong performance of our growth engines and disciplined operational execution."
The company’s growth engines showed particularly strong results, with CTV revenue increasing 75% YoY to $16.6 million, while Digital Out of Home (DOOH) revenue grew 26% YoY to $24.1 million. Retail Media vertical revenue rose 40% YoY to $29.4 million.
Perion reaffirmed its full-year 2025 guidance, expecting revenue between $430 million and $450 million, in line with the consensus estimate of $439.6 million. The company also expanded its share repurchase program to $200 million from the previous $125 million, reflecting management’s confidence in long-term growth prospects.
The strong quarterly performance comes as Perion continues to advance its "Perion One" strategy, aiming to become an operating system for marketers with a unified platform connecting various media channels.
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