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Jun 30
Perion Q2 2025 Earnings Report
Perion reported Q2 2025 results with $103.0M revenue, driven by 8% YoY growth in Advertising Solutions, offset by declines in Search Advertising, resulting in a GAAP net loss and solid adjusted free cash flow.
Key Takeaways
Revenue was $103.0M; GAAP EPS was -$0.08 (net loss $3.471M) while non-GAAP diluted EPS was $0.26. Advertising Solutions delivered $80.571M in revenue, while Search Advertising contributed $22.410M. Adjusted EBITDA came in at $7.064M, and adjusted free cash flow reached $20.747M.
Total revenue was $103.0M, down 5% YoY, with Advertising Solutions up 8% and Search Advertising down 35%.
GAAP net loss was $3.471M (-$0.08 per share); non-GAAP net income was $11.964M ($0.26 per share).
Adjusted EBITDA totaled $7.064M, representing 15% of contribution ex-TAC.
Adjusted free cash flow was $20.747M, supported by $21.292M in operating cash flow.
Perion
Perion
Perion Revenue by Segment
Revenue by Segment
Advertising Solutions Revenue
CapyFin.comSearch Advertising Revenue
CapyFin.com Forward Guidance
Perion reiterated FY 2025 guidance, expecting revenue of $430M–$450M and adjusted EBITDA of $44M–$46M, with a target adjusted EBITDA to contribution ex-TAC margin of 22% at midpoint.
Positive Outlook
- Reiterated full-year 2025 revenue guidance of $430M–$450M.
- Targeting adjusted EBITDA of $44M–$46M for FY 2025.
- Advertising Solutions revenue returned to YoY growth for the first time since Q3 2023.
- Growth in high-margin DOOH and Web channels.
- Strategic expansion into Korea and EMEA DOOH markets.
Challenges Ahead
- Search Advertising revenue declined 35% YoY due to Bing changes in 2024.
- CTV revenue fell 5% YoY, impacting channel mix.
- Continued reliance on Advertising Solutions for growth amid Search declines.
- Competitive and fast-changing digital ad environment.
- Macroeconomic and geopolitical uncertainties could impact demand.