Perion’s Strong and Sustained Momentum Continues, Reports 36% Year-over-Year Revenues Growth in the First Quarter of 2021
Perion Network Ltd. (NASDAQ: PERI) reported its financial results for the first quarter of 2021, achieving significant growth in digital advertising.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Perion Network Ltd. (NASDAQ: PERI), a global advertising technology company that delivers holistic solutions across the three main pillars of digital advertising – ad search, social media and display / video / CTV advertising – announced today its financial results for the first quarter ended March 31, 2021.
First Quarter 2021 Highlights
-
CTV solution served as a key factor for new customer acquisition and primary contributor to
11% increase in average deal size; -
Average daily searches increased
45% year-over-year from 12.2 million in the first quarter of 2020 to a record 17.7 million this quarter; - Perion’s Actionable Performance Monitoring (APM) SaaS system for social advertisement has already been chosen by 7 new customers since launched in January 2021;
-
Net cash was
$128.0 million compared to$52.0 million on December 31, 2020; and - Outstanding debt was fully repaid during the first quarter of 2021.
First Quarter 2021 Results Summary*
(In millions, except per share data)
|
Three months ended |
|
||||||
|
March 31, |
|
||||||
|
2021 |
|
2020 |
|
% |
|
||
Display and Social Advertising revenues |
$ |
38.1 |
|
$ |
23.7 |
|
+ |
|
Search Advertising and other revenues |
$ |
51.7 |
|
$ |
42.3 |
|
+ |
|