Perion Raises Financial Outlook, Expects 31% Year over Year Revenue Growth in the Fourth Quarter of 2020

Customers Momentum for Connected TV and “Full-Funnel” Solution Propel Advertising Business

Perion Network Ltd., a global technology company that delivers its Synchronized Digital Branding solution across the three main pillars of digital advertising – ad search, social media and display / video advertising – increased its revenue and Adjusted EBITDA guidance for the full year and fourth quarter 2020.

Read More: New Union Bank Survey Finds U.S. Consumers Willing To Spend More To Support Small Businesses This Holiday Season

“The acceleration of Perion’s advertising revenue growth is being driven by higher-than-expected revenue synergies from recent acquisitions, as well as higher demand across our CTV and video offerings”

“The acceleration of Perion’s advertising revenue growth is being driven by higher-than-expected revenue synergies from recent acquisitions, as well as higher demand across our CTV and video offerings,” commented Doron Gerstel, Perion’s CEO. “Additionally, following the four-year renewal of our partnership with Microsoft, announced earlier this quarter, we see an increased number of publishers who wish to engage with Perion’s search business unit. These achievements underscore the success of our diversification strategy and are expected to contribute to double digit revenue growth rates over the coming years for Perion.”

Read More: Hexaware Named Rising Star for the UK and US in the ISG Provider LensTM Digital Workplace of the Future — Services & Solutions 2020 Quadrant Report

* The revised guidance for Q4 2020, implies that for the second half of 2020, revenue and Adjusted EBITDA ranges are $183-$188 and $22-$23 million, respectively, compared to the previously provided second half outlook of revenue and Adjusted EBITDA ranges of $164-$174 and $16-$18 million, respectively.

Read More: MortgageHippo Integrates with Snapdocs to Simplify Digital Mortgage Experience for Borrowers