Q2 2026 Perion Network Ltd Earnings Call Transcript
Key Points
- PerionOne platform spend grew 15% year-over-year to $156.7 million, with CTV and digital out-of-home channels growing 56% and 45%, respectively.
- Outmax, the AI agent, continued to scale rapidly with spend growing 136% year-over-year on a pro forma basis.
- Retail media vertical spend significantly accelerated, growing 60% year-over-year to $59.4 million.
- Best Buy Canada selected Perion as its end-to-end in-store retail media technology partner, expanding the company's reach in the retail media and digital out-of-home sectors.
- The company maintains a strong balance sheet with $268 million in cash and zero debt, and continues to execute a disciplined share repurchase program, buying back 2.7 million shares for $24.5 million in the quarter.
- Total revenue declined 5% year-over-year to $98.2 million, and contribution ex-TAC decreased 11% to $42.3 million.
- PerionOne contribution ex-TAC declined 4% year-over-year due to the use of promotional terms to acquire new accounts, which temporarily impacted take rates.
- The company narrowed its full-year 2026 contribution ex-TAC guidance to $215-$225 million, reflecting a softer first half and slower-than-expected ramping of strategic accounts.
- Adjusted EBITDA was only $2.8 million in the quarter, impacted by a $1.6 million foreign exchange headwind.
- The company executed targeted efficiency initiatives, including a roughly 10% reduction in its cost base, to optimize operations and support profitability in the second half of the year.
Hello everybody and welcome to the Perion Network Second Quarter 2026 Earnings Conference Call.
Today's conference call is being recorded. An archive of the webcast will be posted on the company's website.
The press release detailing the financial results is available on the company's website at www.perion.com.
Before we begin, I'd like to read the following safe harbour statement.
Today's discussion includes forward-looking statements. These statements reflect the company's current views with respect to future events. These forward-looking statements involve known and unknown and risks, uncertainties and other factors, including those discussed under the headings risk factors and elsewhere in the company's annual report on Form 20-F that may cause actual results, performances or achievements to be materially different and any future results, performance or achievements anticipated or implied by these forward-looking.
The company does not undertake to update any forward-looking statements to
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