Perion Network Ltd. (NASDAQ:PERI) Q2 2022 Earnings Conference Call August 3, 2022 8:30 AM ET

Corporate Participants

Doron Gerstel - Chief Executive Officer

Maoz Sigron - Chief Financial Officer

Conference Call Participants

Laura Martin - Needham

Andrew Marok - Raymond James

Mark Kelley - Stifel

Eric Martinuzzi - Lake Street

Jason Helfstein - Oppenheimer

Jeff Martin - ROTH Capital

Operator

Hello everybody and welcome to Perion Network Second Quarter of 2022 Earnings Conference Call. Today's conference call 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, 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 a 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 also 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, everyone and thanks for joining our second quarter 2022 earnings call. Together with me on this call is Maoz Sigron, our CFO and myself Doron Gerstel, CEO.

Before diving into our exciting second quarter financial results, I'd like sharing with you what you probably aware of. The macro environment is filled with thoughts about ad spending being reduced. What I want to stress is that not all ad tech is impacted in the same way. We heard the same very statement at the start of the pandemic two years ago. And we had a positive comp then, as we have had for the last eight consecutive quarters. We are built for volatility instead of trying to evade it. We embrace volatility. In fact, in ethic volatility is highly predictable.