Perion Network Ltd. (PERI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.08	$0.09	+12.5%	—	$98.2M	—
Q1 26	$0.06	$0.11	+83.3%	—	$90.4M	—
Q4 25	$0.51	$0.49	-3.9%	—	$137.1M	—
Q3 25	$0.26	$0.28	+7.7%	—	$110.5M	—
Q2 25	$0.17	$0.26	+52.9%	—	$103M	—
Q1 25	$0.09	$0.11	+22.2%	—	$89.3M	—
Q4 24	$0.33	$0.33	0.0%	—	$129.6M	—
Q3 24	$0.2	$0.23	+15.0%	—	$102.2M	—
Q2 24	$0.17	$0.26	+52.9%	—	$108.7M	—
Q1 24	$0.41	$0.44	+7.3%	—	$157.8M	—
Q4 23	$0.93	$1.04	+11.8%	—	$234.2M	—
Q3 23	$0.74	$0.84	+13.5%	—	$185.3M	—
Q2 23	$0.66	$0.84	+27.3%	—	$178.5M	—
Q1 23	$0.5	$0.6	+20.0%	—	$145.2M	—
Q4 22	$0.59	$0.79	+33.9%	—	$209.7M	—
Q3 22	$0.55	$0.61	+10.9%	—	$158.6M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.19	—	—	$439.9M	—
FY24	—	$0.27	—	—	$498.3M	—
FY23	—	$2.49	—	—	$743.2M	—
FY22	—	$2.21	—	—	$640.3M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$312.8M	$274M	$252.8M	$261.4M	$328.1M	$478.5M	$640.3M	$743.2M	$498.3M	$439.9M
YoY change	+41.6%	-12.4%	-7.72%	+3.4%	+25.5%	+45.9%	+33.8%	+16.1%	-32.9%	-11.7%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	312.8M	274M	252.8M	261.4M	328.1M	478.5M	640.3M	743.2M	498.3M	439.9M
Cost of revenue	166.1M	155.5M	152.1M	161.4M	220.1M	313.2M	403M	470.8M	332.6M	288.3M
Gross profit	146.7M	118.4M	100.7M	100M	108M	165.3M	237.3M	272.4M	165.7M	151.6M
Gross margin	46.9%	43.2%	39.8%	38.3%	32.9%	34.5%	37.1%	36.7%	33.3%	34.5%
Research & development	25.2M	17.2M	18.9M	22.6M	30.9M	35.3M	34.4M	33.1M	36.7M	34.7M
Selling, general & administrative	83.4M	74.7M	55.4M	49.7M	54.9M	76.4M	83.6M	89.8M	104.4M	112.9M
Operating expenses	108.6M	91.8M	74.3M	72.3M	85.8M	111.7M	118.1M	122.9M	141.1M	147.5M
Operating income	12.1M	10M	16.8M	18M	12.3M	43.6M	105.3M	135.4M	8.2M	-13.6M
Operating margin	3.86%	3.65%	6.63%	6.89%	3.73%	9.12%	16.5%	18.2%	1.64%	-3.09%
Non-operating income, net	-2.2M	-86.9M	-2.1M	-1.2M	-1.5M	1.7M	3.6M	-19.3M	-12.3M	-3.3M
Pretax income	3.1M	-81.6M	10.9M	14.5M	9.6M	45.3M	113.7M	137.7M	15.5M	-5M
Income tax	212K	-8.8M	2.8M	1.6M	-610K	6.6M	14.4M	20.3M	2.9M	3M
Net income	201K	-72.8M	8.1M	12.9M	10.2M	38.7M	99.2M	117.4M	12.6M	-7.9M
Net margin	0.06%	-26.6%	3.21%	4.93%	3.12%	8.09%	15.5%	15.8%	2.53%	-1.8%
EBITDA	36.5M	22.9M	28.3M	27.2M	22.1M	53.6M	124M	171M	44.2M	16.7M
EPS	0.01	-2.82	0.31	0.5	0.38	1.13	2.21	2.49	0.27	-0.19
Diluted EPS	0.01	-2.82	0.31	0.49	0.36	1.02	2.06	2.34	0.25	-0.19

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	185.3M	234.2M	157.8M	108.7M	102.2M	129.6M	89.3M	103M	110.5M	137.1M	90.4M	98.2M
Cost of revenue	117.8M	154.5M	109.1M	70.2M	66.1M	87.2M	62M	68.4M	73.3M	84.6M	63M	67.1M
Gross profit	67.5M	79.7M	48.7M	38.5M	36.1M	42.4M	27.3M	34.6M	37.2M	52.6M	27.4M	31.2M
Gross margin	36.4%	34%	30.9%	35.4%	35.3%	32.7%	30.6%	33.6%	33.6%	38.3%	30.3%	31.7%
Research & development	7.8M	8.7M	9.8M	10.1M	8.3M	8.5M	8.5M	8.9M	8.6M	8.7M	6.9M	6.4M
Selling, general & administrative	21.9M	25.1M	25.8M	28M	27.1M	23.5M	27.1M	28.7M	28.6M	28.5M	30.8M	27.2M
Operating expenses	29.6M	33.9M	35.7M	38.2M	35.3M	31.9M	35.6M	37.6M	37.2M	37.2M	37.7M	33.6M
Operating income	34.4M	42M	8.5M	-4.5M	-2.8M	6.9M	-11.7M	-7.4M	-4.9M	10.4M	-15.3M	-7.5M
Operating margin	18.6%	17.9%	5.39%	-4.12%	-2.75%	5.35%	-13.1%	-7.15%	-4.46%	7.6%	-16.9%	-7.63%
Non-operating income, net	-2M	-2.7M	—	-8.4M	—	-3.8M	-1.3M	—	—	-2M	-225K	-547K
Pretax income	38.6M	46.1M	14M	-7.2M	2.6M	6.1M	-9.6M	-3.8M	-2.6M	11M	-13.2M	-7.8M
Income tax	5.7M	6.7M	2.2M	-997K	475K	1.2M	-1.3M	-312K	1.5M	3M	-3.2M	-1M
Net income	32.8M	39.4M	11.8M	-6.2M	2.1M	4.9M	-8.3M	-3.5M	-4.1M	8M	-10M	-6.8M
Net margin	17.7%	16.8%	7.46%	-5.71%	2.07%	3.81%	-9.34%	-3.37%	-3.69%	5.81%	-11.1%	-6.88%
EBITDA	39.9M	50.8M	13.1M	8.7M	769K	21.6M	-6.9M	-3.1M	9K	26.7M	-10.1M	-1.9M
EPS	0.69	0.83	0.24	-0.13	0.05	0.11	-0.19	-0.08	-0.1	0.2	-0.26	-0.18
Diluted EPS	0.65	0.78	0.24	-0.13	0.04	0.11	-0.19	-0.08	-0.1	0.19	-0.26	-0.18

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	108.7M	79.9M	67.2M	161.5M	339.7M	—	—	1.5B	400.5M	—	348.6M
Enterprise value	154.1M	103.1M	64.6M	140.6M	309.9M	—	—	989.8M	49.4M	—	72M
Shares outstanding	25.5M	25.8M	25.9M	26M	26.7M	34.4M	44.9M	47.1M	47.3M	42.1M	42.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	540.9	—	8.28	12.5	33.2	—	—	12.4	31.7	—	45.5
P/S	0.35	0.29	0.27	0.62	1.04	—	—	1.96	0.8	—	0.81
P/B	0.52	0.58	0.45	0.98	1.85	—	—	2.03	0.55	—	0.51
EV/EBITDA	4.22	4.49	2.28	5.18	14	—	—	5.79	1.12	—	-7.31
EV/Sales	0.49	0.38	0.26	0.54	0.94	—	—	1.33	0.1	—	0.17
Earnings yield	0.18%	—	12.1%	7.98%	3.01%	—	—	8.07%	3.15%	—	2.2%
FCF yield	22.4%	35.9%	43.2%	27%	6.39%	—	—	10.6%	0.02%	—	15.8%
PEG	—	—	—	—	—	—	—	—	—	—	0.36

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	46.9%	43.2%	39.8%	38.3%	32.9%	34.5%	37.1%	36.7%	33.3%	34.5%	31.7%
Operating margin	3.86%	3.65%	6.63%	6.89%	3.73%	9.12%	16.5%	18.2%	1.64%	-3.09%	-7.63%
Net margin	0.06%	-26.6%	3.21%	4.93%	3.12%	8.09%	15.5%	15.8%	2.53%	-1.8%	-2.95%
ROE	0.1%	-52.6%	5.46%	7.81%	5.55%	8.29%	17%	16.3%	1.74%	-1.17%	-1.96%
ROA	0.05%	-26.5%	3.17%	4.54%	2.85%	5.43%	11.4%	10.9%	1.38%	-0.87%	-1.23%
ROIC	4.43%	6.2%	8.55%	11.1%	7.94%	23.5%	55.7%	45.6%	1.79%	-3.52%	-4.58%
Return on tangible assets	-0.2%	-5.6K%	-122.2%	47.9%	192.1%	17.5%	26.4%	29.1%	4.45%	-3.9%	-2.55%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.31	1.4	1.35	1.38	1.23	2.3	2.57	2.14	3.47	2.76	2.53
Quick ratio	1.31	1.4	1.35	1.38	1.23	2.3	2.57	2.14	3.47	2.76	2.53
Debt / equity	0.37	0.44	0.27	0.25	0.17	0.03	0.02	0.01	0.03	0.03	0.04
Debt / assets	0.21	0.22	0.16	0.14	0.09	0.02	0.01	0.01	0.02	0.02	0.03
Net debt / EBITDA	1.24	1.01	-0.09	-0.77	-1.35	-5.75	-3.37	-2.72	-7.94	-17.4	-16.8
Interest coverage	1.46	-15.9	3.77	7.23	10.2	381.8	—	—	—	-6.43	-6.43
Effective tax rate	6.93%	0%	25.5%	11.3%	0%	14.6%	12.7%	14.7%	18.5%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12.3	10.6	9.78	10.1	12.3	13.9	14.3	15.8	10.5	10.4	11.1
EPS (basic)	0.01	-2.82	0.31	0.5	0.38	1.13	2.21	2.49	0.27	-0.19	-0.19
EPS (diluted)	0.01	-2.82	0.31	0.49	0.36	1.02	2.06	2.34	0.25	-0.19	-0.36
Book value per share	8.16	5.35	5.76	6.36	6.9	13.6	13	15.2	15.3	16.1	16.8
FCF per share	0.95	1.11	1.12	1.68	0.81	2.05	2.7	3.28	0	0.86	0.78
Cash per share	1.27	1.45	1.67	2.37	2.26	9.35	9.57	10	7.9	7.43	7.24
Capex per share	0.05	0.06	0.08	0.03	0.02	0.02	0.02	0.02	0.14	0.05	0.18

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.43%	0.58%	0.78%	0.27%	0.14%	0.11%	0.16%	0.11%	1.37%	0.44%	1.53%
Capex / operating cash flow	5.42%	-3.04%	7.27%	1.71%	2.21%	1.03%	0.92%	0.49%	24.7%	4.63%	18.1%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%
Dividend yield	—	—	—	—	—	—	—	—	—	—	28.4%

Yield

28.4%

trailing twelve months

Frequency

Semi-annual

Last dividend

$3.60

ex-dividend Mar 23, 2011

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Mar 23, 2011	$3.60
Sep 16, 2010	$4.05
Apr 23, 2010	$3.87
Dec 17, 2009	$3.60

Split history

Date	Ratio
Aug 27, 2018	1:3

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$185.3M	$234.2M	$157.8M	$108.7M	$102.2M	$129.6M	$89.3M	$103M	$110.5M	$137.1M	$90.4M	$98.2M
YoY change	+16.8%	+11.7%	+8.73%	-39.1%	-44.8%	-44.7%	-43.4%	-5.25%	+8.09%	+5.84%	+1.16%	-4.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	32.4M	37.5M	43.1M	61.6M	60.4M	321.6M	429.6M	472.7M	373.3M	312.9M
Receivables	71.3M	62.8M	55.6M	49.1M	81.2M	115.4M	160.5M	231.5M	164.4M	187.9M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	113.8M	114.3M	103.9M	115.1M	147.4M	446.2M	603.5M	726.6M	561.5M	519.8M
Property, plant & equipment	14.2M	17.5M	15.6M	33.3M	27M	15.8M	13.7M	9.8M	29.1M	28.9M
Goodwill & intangibles	469.5M	272.7M	263.1M	256.9M	353.4M	491.9M	494.4M	673.3M	632M	710.5M
Total assets	368.5M	274M	256.4M	283.8M	358.7M	713.2M	870.2M	1.1B	915.5M	913.8M
Accounts payable	38.3M	39.2M	38.2M	47.7M	72.5M	107.7M	155.9M	217.2M	122M	129.9M
Short-term debt	17.9M	14M	16.1M	12M	12.8M	3.6M	3.9M	4.2M	3.6M	2.3M
Total current liabilities	86.7M	81.4M	77.1M	83.3M	120.1M	193.7M	234.6M	340M	161.8M	188.6M
Long-term debt	59.8M	46.7M	24.4M	28.7M	17.7M	9.8M	7.6M	3.4M	18.7M	20M
Total liabilities	160.3M	135.7M	107.7M	118.6M	174.6M	246.3M	287.1M	359.1M	192.6M	237.8M
Shareholders' equity	208.1M	138.3M	148.8M	165.2M	184.1M	467M	583.1M	718.1M	722.9M	676M
Total debt	77.7M	60.7M	40.5M	40.7M	30.5M	13.4M	11.5M	7.6M	22.3M	22.4M
Net debt	53.8M	29.1M	1.3M	2.3M	-17.1M	-91.1M	-164.7M	-180M	-133.9M	-67.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	523.6M	472.7M	479.7M	407.1M	383.9M	373.3M	358.5M	319M	315.6M	312.9M	293M	267.8M
Receivables	142.1M	231.5M	156.3M	147.9M	132.3M	164.4M	151.5M	162.9M	175.2M	187.9M	150.8M	161.5M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	683.7M	726.6M	660.4M	580.5M	537.5M	561.5M	530.7M	513.9M	526.6M	519.8M	470.4M	457M
Property, plant & equipment	10.4M	9.8M	8.8M	27.4M	28.8M	29.1M	28.7M	28.8M	28.9M	28.9M	30.4M	32.3M
Goodwill & intangibles	238.2M	673.3M	332.5M	322.9M	319.9M	632M	313.1M	363.9M	359.5M	710.5M	351.1M	346.9M
Total assets	940M	1.1B	1B	937.1M	892.5M	915.5M	878.3M	907.2M	915.6M	913.8M	866.2M	851.4M
Accounts payable	139.5M	217.2M	146.1M	115.6M	101.5M	122M	97.7M	119.7M	126.4M	129.9M	113.9M	133.4M
Short-term debt	3.9M	4.2M	4M	4.6M	4.2M	3.6M	3.4M	3.2M	2.6M	2.3M	1.7M	1.6M
Total current liabilities	250.2M	340M	251.4M	177.2M	138.6M	161.8M	133.8M	161.8M	168.4M	188.6M	167.6M	180.4M
Long-term debt	4.4M	3.4M	2.7M	19.5M	18.7M	18.7M	18.2M	19.8M	19.7M	20M	19.7M	20.5M
Total liabilities	266.6M	359.1M	271.8M	211.1M	170.7M	192.6M	162.7M	218.9M	229.2M	237.8M	216.6M	228.6M
Shareholders' equity	673.4M	718.1M	734.7M	726M	721.8M	722.9M	715.6M	688.3M	686.3M	676M	649.6M	622.8M
Total debt	8.4M	7.6M	6.6M	24.1M	22.9M	22.3M	21.6M	23M	22.3M	22.4M	21.4M	22.1M
Net debt	-189.5M	-180M	-168.2M	-121.9M	-131.8M	-133.9M	-129.1M	-90.7M	-102.1M	-67.6M	-30.7M	-41.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	2.8M	-72.8M	8.1M	12.9M	10.2M	38.7M	99.2M	117.4M	12.6M	-7.9M
Depreciation & amortization	26M	16.6M	9.7M	9.7M	9.9M	9.9M	13.8M	14.1M	16.4M	17.7M
Stock-based compensation	6.8M	2.1M	2.7M	2.3M	4.4M	7M	11.6M	15.6M	27.2M	31.1M
Change in working capital	-9.4M	9.9M	4.9M	17.9M	-5.5M	-1M	676K	143K	-29.5M	-12.1M
Operating cash flow	25M	-52.5M	27.2M	41.8M	20.6M	51.9M	113.3M	160.3M	27.6M	41.9M
Capital expenditure	-1.4M	-1.6M	-2M	-717K	-454K	-532K	-1M	-784K	-6.8M	-1.9M
Investing cash flow	-706K	-1.6M	-2M	-1.9M	-8.9M	-243.5M	-46.8M	-133.4M	62.6M	-33.6M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	-46.9M	-71.2M
Financing cash flow	-98.6M	-30.8M	-23M	-26M	-8.3M	-8.3M	-9.1M	-13.3M	-101.5M	-71.7M
Net change in cash	-74.4M	-84.9M	2.3M	13.9M	3.3M	-199.9M	57.4M	13.7M	-11.3M	-63.4M
Free cash flow	24.4M	28.7M	29M	43.5M	21.7M	70.5M	121.1M	154.7M	67K	36.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	32.8M	39.4M	11.8M	-6.2M	2.1M	4.9M	-8.3M	-3.5M	-4.1M	8M	-10M	-6.8M
Depreciation & amortization	3.4M	3.9M	4.6M	4.8M	3.6M	3.5M	3.5M	4.3M	4.9M	5M	4.9M	5.1M
Stock-based compensation	4.4M	4.7M	5.4M	5.7M	6.2M	9.9M	7.6M	7.5M	10.2M	5.9M	8M	4.5M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	37.2M	67M	23.1M	10.8M	13.1M	10.1M	10.3M	21.3M	5.9M	21.8M	6.7M	2.5M
Capital expenditure	-152K	-281K	-439K	-692K	-4.3M	-1.4M	-1.7M	-413K	-785K	-744K	-2.1M	-3M
Investing cash flow	-28.2M	-348.5M	-20.1M	43.4M	28.5M	10.8M	7.9M	-24.4M	-785K	-744K	-20.3M	33.3M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	—	—	-20.1M	-13.5M	-13.4M	-6.5M	-33.3M	-7.5M	-23.9M	-24.1M	-24.5M
Financing cash flow	0	0	—	-51.8M	-36.3M	-13.4M	-6.5M	-33.3M	-8M	-23.9M	-24.1M	-24.5M
Net change in cash	9M	-281.5M	3M	2.4M	5.4M	7.5M	11.7M	-36.3M	-2.9M	-2.9M	-37.7M	11.2M
Free cash flow	39.9M	49.9M	6.5M	-21.2M	11.9M	2.9M	-8.7M	19.8M	4.4M	20.7M	4.3M	-666K

Perion Network Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement