Perion Network Ltd (NASDAQ:PERI) Q3 2022 Earnings Conference Call November 9, 2022 8:30 AM ET
Company Participants
Doron Gerstel - CEO & Director
Maoz Sigron - CFO
Conference Call Participants
Eric Martinuzzi - Lake Street Capital Markets
Laura Martin - Needham & Company
Andrew Marok - Raymond James & Associates
Jeffrey Martin - ROTH Capital Partners
Mark Kelley - Stifel
Jason Helfstein - Oppenheimer
Operator
Hello, everybody, and welcome to the Perion Network Third Quarter of 2022 Earnings Conference Call. Today's conference is being recorded. The press release detailing the financial results is available on the company's website at www.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 and 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. I would now like to turn the call over to Doron Gerstel. Please go ahead.
Doron Gerstel
Thank you very much. Good morning, good afternoon, everyone. Thanks for joining our third quarter earnings call. Together with me on the call Maoz Sigron, our CFO. Before I dive into the quarter results, let's start by looking back to the last 8 quarters, taking the rule of 40 model and applying this to our business. The rule of 40 is used by investors to see the long-term health and sustainability of the business. It can also be used by management to make long-term predictions and decisions. In my opinion, the best way to assess performance through the convergent plan of revenue growth and EBITDA margin. The effect that Perion passes the hurdle of the rule of 40 is remarkable for an healthy company and has done so in the last 8 quarters, as you can see from the slide. There are needs to be viewed through this valuation lens, even though it's applied to a high-growth scalable software company and not in my knowledge to our industry.