Perion Network Ltd. (PERI) is an international tech company that brings complete strategic business solutions that allow advertisers to effectively capture and convince consumers across multiple platforms. The company has achieved its mission through Synchronized Digital Branding abilities. These capabilities are focused on creativity, content monetization, branded search networks, and social media management that optimizes paid advertising.
The price of PERI stock during the regular trading on February 8, 2022, was $21.9 with 2.67% growth. At last check in the premarket on February 9, 2022, the stock was further up by 9.3%.
PERI: Key Financials
On February 9, 2022, PERI released its financial results for the fourth ended December 31, 2021. Some of the key updates are mentioned below.
Revenue
Total revenue in Q4 2021 was $158 million compared to $118.3 million in the same period of 2020. The company observed a 34% increase in revenue over the period of the year. The analysts estimated the revenue of the quarter to be $144.9 million and the company beat the estimated revenue target.
EPS
Diluted net income in Q4 2021 was $17.6 million or $0.44 against $9 million or $0.30 in the same quarter of 2020. The estimated EPS for the company was $0.50 and the company missed the estimated EPS.
PERI: Events and Happenings
On January 25, 2022, PERI’s company Undertone reported about its nomination to Ad Age Best Places to Work list 2022 for the second consecutive year. Undertone was positioned at a fifth place out of fifty contenders. On January 3, 2022, PERI updated about its Executive management’s participation at the 24th Annual Needham Growth Conference on January 12-13, 2022.
On December 9, 2021, PERI reported about the pricing of a public offering of 7,280,080 ordinary shares at a price of $21.50 per share. The total gross proceeds as a result of the offering were approximately $156.5 million. On December 2, 2021, PERI updated about the presence of its Executive management at the Virtual Raymond James 2021 Technology Investors Conference on December 6, 2021. On November 30, 2021, PERI informed about its unmatched growth in Black Friday customer searches across a variety of shopping categories. As a result, the company has generated much revenue over the Black Friday sale period.
Conclusion
PERI stock is 10% up from the past six months period. The current premarket stock surge is the outcome of the company’s financial statement release and the company’s revenue beat the estimated revenue target. The company’s management is optimistic to increase its turnout in the next quarterly results.
