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Perion Network Ltd (DE:IW2)
FRANKFURT:IW2
Earnings Data
Report Date
May 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.06Last Year’s EPS
0.09Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong operational and financial turnaround driven by the Perion One strategy: significant margin expansion, substantial cash generation, high-growth performance in CTV, DOOH and Retail Media, and promising AI execution (Outmax) case studies and partnerships. Key risks include a continued decline in lower-margin web/search legacy activities, modest headline revenue growth, and near-term demand visibility that produced a wide 2026 guidance range. Overall, the positives—improving unit economics, large cash balance, demonstrable product-led scaling and ambitious but substantiated 2028 targets—outweigh the near-term challenges and execution risks.Company Guidance
Strong Q4 profitability and margin expansion
Adjusted EBITDA for Q4 grew 53% year-over-year to $24.3M, representing 37% of contribution ex-TAC (up from 29% prior year) and 18% of total revenue. Contribution ex-TAC margin expanded to 48% in Q4 (from 42% prior year).
Meaningful operating cash flow and free cash flow conversion
Q4 operating cash flow was $21.8M (over 400% year-over-year increase). Full-year cash from operations was $41.9M (504% YoY increase) and adjusted free cash flow was $40.2M (up 142% YoY), delivering an 89% adjusted free cash flow to adjusted EBITDA conversion ratio.
Contribution ex-TAC outpacing revenue growth
Q4 contribution ex-TAC grew 19% year-over-year to $65.2M versus total revenue growth of 6% YoY to $137.1M, indicating improving unit economics and operating leverage.
High-growth engines: CTV, Digital Out-of-Home, Retail Media
CTV revenue grew 59% in Q4 and 42% for the full year (Q4 CTV revenue $62.1M). Digital Out-of-Home grew 28% in Q4 and 36% for the full year (full-year DOOH $94.9M). Retail Media rose 42% in Q4 and 36% for the full year, outpacing market growth materially.
Perion One traction and Outmax performance
Perion One adoption and Outmax AI execution agent showed strong outcomes (cited uplifts of ~40% to 80% for advertisers). Examples include a YouTube advertiser scaled from a $50K test (2023) to $4.5M (2024) and $20M (2025), and a DOOH publisher scaling from EUR 200/month to over EUR 0.5M/month in 90 days.
Strategic partnerships and enterprise customer footprint
Announced partnerships with Amazon, Walmart and Mastercard to combine first-party data and measurement with Perion's AI and creative capabilities. Perion serves 52 of the Fortune 100 across multiple verticals.
Strong balance sheet and shareholder returns
Net cash position of $313M at year-end. Share repurchase program expanded to $200M (already executed ~$118M; repurchased $23.9M in Q4 for 2.5M shares), reflecting confidence in cash generation and capital allocation.
2028 financial targets backed by historic growth
Targets include Perion One pro forma spend CAGR of at least 25% through 2028, contribution ex-TAC CAGR of at least 20%, and adjusted EBITDA margin of 28% of contribution ex-TAC. Historical pro forma Perion One spend grew at a 34% CAGR (2022-2025) and contribution ex-TAC grew at a 19% CAGR.
Full-year profitable non-GAAP results
Full-year 2025 adjusted EBITDA reached $45.2M, contribution ex-TAC $203.4M, and non-GAAP net income was $51.3M (non-GAAP diluted EPS $1.13).
DE:IW2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:IW2 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | €7.14 | €7.45 | +4.34% |
Nov 12, 2025 | €8.15 | €8.96 | +9.99% |
Aug 11, 2025 | €8.53 | €8.89 | +4.22% |
May 13, 2025 | €8.65 | €8.90 | +2.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Perion Network Ltd (DE:IW2) report earnings?
Perion Network Ltd (DE:IW2) is schdueled to report earning on May 06, 2026, Before Open (Confirmed).
What is Perion Network Ltd (DE:IW2) earnings time?
Perion Network Ltd (DE:IW2) earnings time is at May 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Perion Network Ltd stock?
The P/E ratio of Perion Network is N/A.
What is DE:IW2 EPS forecast?
DE:IW2 EPS forecast for the fiscal quarter 2026 (Q1) is 0.06.
