olivLaw · US equity research
Perion Network Ltd. PERI
Services-Computer Programming Services · SIC 7371 · Vertical: Services-Computer Programming Services (SIC 7371)
Perion Network is an Israel-based ad technology company that delivers media campaigns through its unified Perion One platform and the Outmax AI agent across channels such as CTV, DOOH and retail media. As search revenue declines, the company leans on outcome-driven advertising, while the digital market could grow from 870 billion dollars in 2026 to 1.13 trillion in 2029.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Perion Network Ltd. (PERI) stock was 11.45 USD (+0.26% on the day), with market capitalisation 446.8 m USD, dividend yield 45.42%, beta 0.85, 52-week range 7.71–11.45 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 80.7
- overbought (≥ 70)
- Bollinger (20, 2)
- 7.30 – 11.09
- above the upper band · %B 1.10 · band width 41.2%
- SMA 50 / 200
- 9.05 / 9.28
- mixed trend
- MACD (12, 26, 9)
- 0.47 / 0.14
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +34.5% | −1.1% | +35.6 pp | — |
| 3 months | +19.0% | −0.5% | +19.5 pp | — |
| 6 months | +7.5% | +4.4% | +3.1 pp | — |
| Year to date | +19.5% | +12.3% | +7.2 pp | — |
| 1 year | +24.6% | +13.5% | +11.0 pp | −42.9% |
| 3 years | −59.9% | +76.4% | −136.3 pp | −39.6% |
| 5 years | −60.0% | +63.7% | −123.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 252.8 m | 261.5 m | 328.1 m | 478.5 m | 640.3 m | 743.2 m | 498.3 m | 439.9 m |
| Revenue YoY | −7.7% | +3.4% | +25.5% | +45.9% | +33.8% | +16.1% | −32.9% | −11.7% |
| Net income | 8.1 m | 12.9 m | 10.2 m | 38.7 m | 97.5 m | 115.0 m | 12.6 m | -7.9 m |
| Net income YoY | unavailable | +58.8% | −20.7% | +278.5% | +151.8% | +17.9% | −89.0% | −162.9% |
| Diluted EPS | 0.31 | 0.49 | 0.36 | 1.02 | 2.03 | 2.30 | 0.25 | -0.19 |
| Diluted EPS YoY | unavailable | +58.1% | −26.5% | +183.3% | +99.0% | +13.3% | −89.1% | −176.0% |
| net % | 3.2% | 4.9% | 3.1% | 8.1% | 15.2% | 15.5% | 2.5% | -1.8% |
| Free cash flow | 30.8 m | 43.5 m | 21.7 m | 70.5 m | 121.1 m | 154.7 m | 67.0 k | 38.1 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 90.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 676.0 m USD
- Total assets
- 913.8 m USD
- Debt / equity
- unavailable
- Current ratio
- 2.76x
- ROE
- -1.1%
- ROA
- -0.9%
- FCF margin
- 8.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 328.1 m | 478.5 m | 640.3 m | 743.2 m | 498.3 m | 439.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Research & development | 30.9 m | 35.3 m | 34.6 m | 33.9 m | 36.7 m | 34.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Operating income | 12.3 m | 45.9 m | 107.4 m | 114.3 m | -3.0 m | -14.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Depreciation & amortisation | 9.9 m | 9.9 m | 13.8 m | 14.1 m | 16.4 m | 17.7 m | SEC (XBRL)· 16 Mar 2026verified |
| EBITDA | 22.2 m ≈ | 55.8 m ≈ | 121.3 m ≈ | 128.4 m ≈ | 13.4 m ≈ | 2.8 m ≈ | SEC (XBRL)· 16 Mar 2026derived |
| Interest expense | 1.0 m | — | — | — | — | — | SEC (XBRL)· 25 Mar 2021verified |
| Pre-tax income | 9.6 m | 45.3 m | 111.9 m | 135.2 m | 15.5 m | -5.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Income tax | -610.0 k | 6.6 m | 14.4 m | 20.3 m | 2.9 m | 3.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Net income | 10.2 m | 38.7 m | 97.5 m | 115.0 m | 12.6 m | -7.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Diluted EPS | 0.36 | 1.02 | 2.03 | 2.30 | 0.25 | -0.19 | SEC (XBRL)· 16 Mar 2026verified |
| Weighted average diluted shares | 28.8 m | 37.8 m | 48.1 m | 50.1 m | 49.6 m | 42.1 m | SEC (XBRL)· 16 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 47.7 m | 104.4 m | 176.2 m | 187.6 m | 156.2 m | 90.0 m | SEC (XBRL)· 16 Mar 2026verified |
| Receivables | 81.2 m | 115.4 m | 160.5 m | 231.5 m | 164.4 m | 187.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Current assets | 147.4 m | 446.2 m | 603.5 m | 726.6 m | 561.5 m | 519.8 m | SEC (XBRL)· 16 Mar 2026verified |
| Property, plant & equipment, net | 6.8 m | 4.2 m | 3.6 m | 3.2 m | 8.9 m | 11.7 m | SEC (XBRL)· 16 Mar 2026verified |
| Goodwill | 152.3 m | 189.3 m | 195.5 m | 248.0 m | 247.1 m | 266.1 m | SEC (XBRL)· 16 Mar 2026verified |
| Intangibles (excl. goodwill) | 24.4 m | 56.7 m | 51.7 m | 88.7 m | 68.9 m | 89.2 m | SEC (XBRL)· 16 Mar 2026verified |
| Total assets | 358.7 m | 713.2 m | 870.2 m | 1.1 bn | 915.5 m | 913.8 m | SEC (XBRL)· 16 Mar 2026verified |
| Accounts payable | 72.5 m | 107.7 m | 155.9 m | 217.2 m | 122.0 m | 129.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Short-term debt | 8.3 m | 0 | — | — | — | — | SEC (XBRL)· 16 Mar 2022verified |
| Current liabilities | 120.1 m | 193.7 m | 234.6 m | 340.0 m | 161.9 m | 188.6 m | SEC (XBRL)· 16 Mar 2026verified |
| Total liabilities | 174.6 m | 246.3 m | 287.1 m | 359.1 m | 192.6 m | 237.8 m | SEC (XBRL)· 16 Mar 2026verified |
| Equity | 184.1 m † | 467.0 m † | 583.1 m † | 718.1 m † | 722.9 m † | 676.0 m † | SEC (XBRL)· 16 Mar 2026verified |
| Shares outstanding at year end | 27.4 m | 43.7 m | 46.2 m | 48.0 m | 44.8 m | 39.0 m | SEC (XBRL)· 16 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 22.2 m | 71.1 m | 122.1 m | 155.5 m | 6.9 m | 41.9 m | SEC (XBRL)· 16 Mar 2026verified |
| Capex | 459.0 k | 627.0 k | 1.1 m | 811.0 k | 6.9 m | 3.8 m | SEC (XBRL)· 16 Mar 2026verified |
| Free cash flow | 21.7 m ≈ | 70.5 m ≈ | 121.1 m ≈ | 154.7 m ≈ | 67.0 k ≈ | 38.1 m ≈ | SEC (XBRL)· 16 Mar 2026derived |
| Investing cash flow | -8.9 m | -243.5 m | -46.8 m | -133.4 m | 62.6 m | -37.4 m | SEC (XBRL)· 16 Mar 2026verified |
| Financing cash flow | -4.0 m | 229.1 m | -3.3 m | -10.8 m | -100.9 m | -71.1 m | SEC (XBRL)· 16 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 446.8 m USD
Key indicators
Coverage and freshness
Score by group
62% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | unavailable | unavailable | — |
| EBIT margin · Quality | -3.4% | 45 (vs peers) | 14% |
| FCF margin · Quality | 8.7% | 35 (on a fixed band) | 14% |
| Revenue CAGR 3Y · Growth | -11.8% | 0 (on a fixed band) | 28% |
| Revenue growth (YoY) · Growth | -11.7% | 26 (vs peers) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.8x | 100 (on a fixed band) | 10% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 8.5% | 100 (on a fixed band) | 21% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth9/100 · 2/2 factors with a value
- Quality40/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partial100/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Perion Network Ltd. (PERI). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 439.9 m USD in 2025; YoY growth -11.7%; net margin -1.8%; ROE -1.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.8x
- FCF yield: 8.5%
What contradicts it
- Revenue CAGR 3Y: -11.8%
- Revenue growth (YoY): -11.7%
Not assessed (insufficient data or a ratio without meaning): Gross margin, Net debt / EBITDA, EV/Sales, Shareholder yield (distributions).
Versus the vertical median
Services-Computer Programming Services (SIC 7371) · same industry (4-digit SIC) · compared with 32 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| INFYInfosys Limited | 49.6 bn | 16.1 | 29.0% | 16.4% | +3.9% | −30% / −30% |
| ZSZscaler Inc | 36.6 bn | — | -2.9% | -1.9% | +25.4% | −11% / +14% |
| CTSHCognizant Technology Solutions Corporation | 29.4 bn | 12.0 | 17.4% | 11.8% | +7.0% | −15% / −7% |
| VRSNVerisign Inc | 28.5 bn | 33.6 | — | 49.1% | +6.4% | +26% / +50% |
| WITWipro Limited | 22.7 bn | 15.4 | 16.4% | 14.7% | −3.2% | −21% / −11% |
| EPAMEpam Systems, Inc. | 7.1 bn | 18.6 | 11.2% | 7.2% | +15.4% | −27% / −47% |
| DOCSDoximity, Inc. | 6.2 bn | 40.9 | 17.2% | 25.5% | +13.1% | −33% / +49% |
| DOXAmdocs Limited | 4.9 bn | 10.3 | 14.1% | 9.9% | +2.4% | −43% / −48% |
| RGTIRigetti Computing, Inc. | 3.7 bn | — | -43.8% | -1,787.4% | −34.3% | −56% / +958% |
| FORTYFormula Systems (1985) Ltd. | 1.8 bn | 23.4 | 12.2% | 2.9% | +5.2% | −20% / +96% |
| MGRTMega Fortune Co Ltd | 1.6 bn | 698.9 | 21.1% | 16.1% | +233.3% | +1,864% / unavailable |
| PERIPerion Network Ltd. | 446.8 m | — | -1.1% | -1.8% | −11.7% | +25% / −60% |
| MFImF International Limited | 367.8 m | 36.4 | 3.9% | 232.8% | +29.4% | −68% / unavailable |
| IAInnovative Solutions And Support, Inc. | 353.7 m | 18.8 | 28.5% | 20.5% | +78.6% | +103% / +167% |
| GDEVGDEV Inc. | 176.1 m | 2.6 | — | 17.1% | −3.9% | −44% / −57% |
| ATGLAlpha Technology Group Ltd | 146.5 m | — | -184.7% | -952.0% | −40.2% | −61% / −39% |
| MLGOMicroAlgo Inc. | 135.7 m | 1.2 | 7.6% | 30.2% | −20.3% | −61% / −100% |
| MWCMicware Co., Ltd. | 82.0 m | 8.1 | 20.0% | 7.3% | unavailable | unavailable / unavailable |
| PDCPerpetuals.com Ltd | 74.9 m | — | -75.8% | -1,069.9% | −47.0% | −61% / −13% |
| CINTCI&T Inc | 73.8 m | 10.3 | 13.8% | 8.3% | +11.5% | −31% / −40% |
| CYCUCycurion, Inc. | 65.1 m | — | -76.7% | -98.0% | −14.8% | −91% / unavailable |
| XTIAXti Aerospace, Inc. | 37.7 m | — | — | -89.6% | +602.4% | −40% / −100% |
| MNDOMind Cti Ltd | 18.3 m | 6.9 | 11.0% | 13.4% | −9.3% | −24% / −53% |
| CHGAChange Agents Corporation | 17.8 m | — | -606.9% | -643.1% | +6.2% | −97% / −99% |
| RDNWRideNow Group, Inc. | 11.7 m | — | — | -0.8% | −10.5% | +7% / −9% |
1- and 3-year price returns: for PERI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 16 Mar 2026; since then the company filed 6-K (02 Nov 2026), 6-K (26 Aug 2026), 6-K (10 Aug 2026), 6-K (20 Jul 2026), 6-K (08 Jul 2026).
In brief
Perion Network is an Israel-based ad technology company that delivers media campaigns through its unified Perion One platform and the Outmax AI agent across channels such as CTV, DOOH and retail media. As search revenue declines, the company leans on outcome-driven advertising, while the digital market could grow from 870 billion dollars in 2026 to 1.13 trillion in 2029 1.
SWOT
Strengths
- The Perion One platform and the Outmax agent offer an integrated execution infrastructure focused on measurable outcomes across several channels 1.
- The company carries no debt and holds a solid cash position, giving it flexibility for acquisitions and buybacks 1.
- Strong growth in CTV and DOOH shows that its portfolio can capture budgets in expanding areas 1.
Weaknesses
- Search revenue has fallen sharply, and the company still depends on third-party partners for part of its business 1.
- Clients generally do not sign long-term contracts and can reduce or end relationships with little penalty 1.
- The company reported a net loss in 2025, and marketing costs rose as the new platform was launched 1.
Opportunities
- Programmatic advertising on connected TV and out-of-home could keep growing, especially if brands demand performance measurement 1.
- If AI agents become the standard for execution, the company could capture value in that layer if adoption of Perion One expands 1.
- Retail media, which is growing rapidly worldwide, could open new revenue streams through integration with sales data 1.
Threats
- Large platforms can unilaterally change advertising rules, which could affect the company's ability to operate 1.
- AI chatbots can reduce web traffic and search volume, directly weakening the company's revenue model 1.
- Privacy restrictions and tighter regulation could limit targeting and raise compliance costs 1.
Risks
- Dependence on a small number of large customershigh
Clients can reduce or end relationships at short notice, and losing a major group of clients could significantly affect results 1.
- Decline of web traffic due to AIhigh
If users shift further to AI-generated answers, ad impressions and search revenue could continue to fall 1.
- Dependence on large platformshigh
Changes made by major platforms and browsers may limit the company's access to ad inventory and data 1.
- Pricing pressuremedium
Competitors may offer more favourable terms, which could force rate reductions and lower margins 1.
- Execution of the Perion One strategymedium
If the unified platform integration is delayed or fails to convince partners, the company may not attract the brands and agencies it targets 1.
Investment thesis
What would need to be true (bull case)
- If performance advertising and connected TV keep growing, the Advertising Solutions segment could offset the search decline and return to growth 1.
- A debt-free balance sheet and positive operating cash flow give the company room for acquisitions and share buybacks 1.
- If Outmax and Perion One become the standard for programmatic execution, the company could gain market share in that layer 1.
What would break the thesis
- Total revenue fell in 2025, and the search decline could continue if web traffic keeps shrinking 1.
- The company reported a net loss in 2025 and marketing costs rose, which could limit margins if revenue does not recover 1.
- Dependence on a few large platforms and on clients who can leave without penalty makes revenue exposed to outside changes 1.
What to watch
- Development of Advertising Solutions revenue, especially CTV and DOOHQ1 2027
- Trend in Search Advertising revenue after the Microsoft Bing changes2027
- Pace of execution of the share repurchase programmenext 10-K
- Adoption of the Perion One platform by agencies and retailers2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 16 Mar 2026; since then the company filed 6-K (02 Nov 2026), 6-K (26 Aug 2026), 6-K (10 Aug 2026), 6-K (20 Jul 2026), 6-K (08 Jul 2026).
The business
Perion presents itself as a technology leader solving the complexity of digital advertising through AI-native execution infrastructure. Through the Perion One platform, introduced in February 2025, the company aims to connect data, creative and media channels, and its AI agent Outmax allocates budgets, manages pacing and optimises outcomes 1. Revenue comes mainly from two sources: Advertising Solutions, which made up 79% of 2025 revenue, and Search Advertising, a model based on fees tied to transaction volume with search partners 1.
In 2025 total revenue fell to 439.9 million dollars, while Advertising Solutions rose to 348.9 million and Search Advertising fell to 91.0 million 1. The company ended the year with 312.9 million dollars in cash, deposits and marketable securities and no debt, according to the report 1. Its operations were unified under the Perion brand, with headquarters and main research and development centres in Israel, Canada and Europe, and principal sales offices in the United States 1.
Recent acquisitions, including Vidazoo, Hivestack and Greenbids, have extended its channel and technology portfolio, and Greenbids brought the technology behind Outmax for walled gardens 1. The company describes a balanced capital model across organic growth, targeted acquisitions and a share repurchase programme of up to 200 million dollars 1.
Segments
Advertising Solutions
This segment delivers outcome-driven campaigns across display, social, CTV, digital audio and DOOH through Perion One, and provides monetisation tools for publishers and media owners. In 2025 it grew 4% to 348.9 million dollars, supported by CTV and DOOH 1.
Search Advertising
This segment earns revenue from fees tied to search volume and transactions with partners on a revenue-share basis. In 2025 revenue fell 44% to 91.0 million dollars, due to lower average daily searches and changes made by Microsoft Bing in 2024 1.
Costs and operating expenses
Cost of revenue rose to 12% of revenue in 2025, while traffic acquisition costs fell to 54% of revenue as the product mix shifted toward more profitable solutions 1. Selling and marketing expenses rose to 17% of revenue, reflecting the go-to-market push behind Perion One 1.
Market context
The source estimates digital advertising at 77% of total worldwide media advertising in 2026, roughly 870 billion dollars, and says it could reach about 1.13 trillion dollars and 80.9% of media spend by 2029 1. Growth is supported by connected TV, retail media and programmatic DOOH, while the open web loses share to closed platforms and search spend is expected to grow more slowly 1.
Privacy regulation and changes in browsers and operating systems could limit data access and targeting, and the source notes that generative AI is reducing traditional web traffic 1. The company considers that value could concentrate in execution infrastructure, where real-time decisions are made 1.
Trends
- Shift to AI-native executionmixed
AI agents operating directly in real-time delivery systems could move value from planning toward execution, and Perion positions itself in this layer with Outmax and Perion One 1.
- Growth of connected TV and DOOHtailwind
Budgets are moving from linear TV to streaming and programmatic DOOH is expanding; the company's CTV and DOOH revenue grew in 2025 1.
- Decline of the open web and traditional searchheadwind
Direct answers from AI chatbots reduce traffic to websites and search volume, which has directly hit search revenue 1.
- Privacy and browser restrictionsmixed
Limits on third-party cookies, mobile identifiers and ad-restricted browsers could reduce targeting ability, although the industry is investing in first-party and contextual data 1.
Competitive position
The source notes that Google, Meta, Apple, TikTok and Amazon hold a large share of the digital advertising market and budgets, exposing Perion to unilateral changes by these platforms 1. Industry consolidation and AI companies launching their own advertising tools could intensify competition and lower entry barriers 1.
Perion differentiates through its channel-agnostic approach, which lets it reallocate budgets on performance signals rather than the preferences of a single platform 1. Price competition could pressure margins, and clients may negotiate better terms with other providers 1.
- GoogleGOOGL
Dominant platform controlling much of search and display budgets and influencing the browser standards the company relies on 1.
- Meta PlatformsMETA
Closed social platform drawing a growing share of ad budgets and competing for advertiser attention 1.
- AmazonAMZN
Major digital advertising player, including through retail media, a fast-growing segment the company highlights 1.
- Generative AI companies with advertising tools
Providers of AI chatbots and AI search tools could reduce brands' reliance on the Perion platform 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)26 Aug 2026
- Current report (foreign issuer)10 Aug 2026
- Current report (foreign issuer)20 Jul 2026
- Current report (foreign issuer)08 Jul 2026
- Current report (foreign issuer)29 Jun 2026
- Current report (foreign issuer)18 Jun 2026
- Current report (foreign issuer)16 Jun 2026
- Current report (foreign issuer)20 May 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Perion Network Ltd. · 16 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.