Perion Network Ltd. (NASDAQ:PERI) Q2 2024 Earnings Conference Call July 31, 2024 8:30 AM ET
Company Participants
Tal Jacobson - Chief Executive Officer
Maoz Sigron - Chief Financial Officer
Elad Tzubery - Senior Vice President of Finance
Conference Call Participants
Jason Helfstein - Oppenheimer
Laura Martin - Needham & Company
Mark Kelly - Stifel
Eric Martinuzzi - Lake Street Capital
Jeff Martin - Roth Capital Partners
Operator
[Starts Abruptly]
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 on 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 Tal Jacobson, Perion’s Chief Executive Officer, and Maoz Sigron, Perion's Chief Financial Officer.
I would now like to turn the call over to Tal Jacobson. Please go ahead.
Tal Jacobson
Good morning and good afternoon. Thank you for joining us for our second quarter earnings review. As always, Maoz Sigron, our CFO, is with me today. I want to start by reminding all of us what are we trying to solve at Perion. Digital advertising is expected to reach $700 billion this year and grow to over $900 billion within three years.
However, managing this vast spending across numerous platforms, channels, screens, data points has become very complex for the advertiser. The Chief Marketing Officer is in charge of spending those digital advertising budgets, and army of experts and vendors are needed to cover all relevant advertising channels. And when they do, it's almost impossible to prove actual ROI across all channels and platforms. This is where Perion comes in, providing the technology that fits the brand goals.