Perion Network Ltd. (NASDAQ:PERI) Q1 2023 Earnings Conference Call May 3, 2023 8:30 AM ET
Company Participants
Doron Gerstel – Chief Executive Officer
Maoz Sigron – Chief Financial Officer
Tal Jacobson – General Manager of CodeFuel
Conference Call Participants
Laura Martin – Needham and Company
Jason Helfstein – Oppenheimer
Andrew Marok – Raymond James
Jeff Martin – Roth
Eric Martinuzzi – Lake Street
Operator
Hello, everybody, and welcome to the Perion Network First Quarter 2023 Earnings Conference Call. Today’s conference is being recorded. The press release – sorry. The press release detailing the financial results is available on the Company’s website at perion.com.
Before we begin, I’d like to read the following Safe Harbor statement. Today’s discussion includes forward-looking statements. These statements reflect the Company’s current views with respect to future events. These forward-looking statements involve known and unknown risks, uncertainties and other factors, including those discussed under the heading, Risk Factors and elsewhere in the company’s Annual Report on Form 20-F that may cause actual results, performance or achievements to be materially different, and any future results, performance or achievements anticipated or implied by these forward-looking statements.
The Company does not undertake to update any forward-looking statements to reflect future events or circumstances. As in prior quarters, the results reported today will be analyzed both on a GAAP and non-GAAP basis. While mentioning EBITDA, we will be referring to adjusted EBITDA. We have provided a detailed reconciliation of non-GAAP measures to their comparable GAAP measures in our earnings release, which is available on our website and has been filed on Form 6-K.
Hosting the call today are Doron Gerstel, Perion’s Chief Executive Officer; and Maoz Sigron, Perion’s Chief Financial Officer; and Tal Jacobson, General Manager of CodeFuel and Perion’s Chief Executive Officer effective August 1, 2023.
I would now like to turn the call over to Doron Gerstel. Please go ahead.
Doron Gerstel
Hello, everyone, and welcome. Thanks for joining Perion first quarter of 2023 earnings call. Together with me on the call Maoz Sigron, our CFO; and Tal Jacobson my successor CEO as of August 1. It’s rare to be excited about being repetitive, but this is one of those times. I say that because today is the 12th time in the last three years, I have used the same headline describing our financials, our momentum continues.
It’s not the first time you have heard mistake and restate that our unique diversification strategy is what’s behind our ability to deliver business results that are sustainable and predictable. Our continuing agility to grow top line and bottom line, no matter the state of macroeconomic conditions and has been demonstrated over the last three years as you can see from the slides. Even most recently where the industry has been challenged by reduction in digital advertising spending, in fact, our strategy of supporting the three main pillars of digital advertising is especially relevant in this time when advertiser under pressure and grappling with uncertainty.