Perion Network Ltd. (NASDAQ:PERI) Q3 2024 Earnings Conference Call November 6, 2024 8:30 AM ET
Company Participants
Tal Jacobson - Chief Executive Officer
Elad Tzubery - Chief Financial Officer
Conference Call Participants
Andrew Marok - Raymond James
Jason Helfstein - Oppenheimer
Eric Martinuzzi - Lake Street Capital
Laura Martin - Needham and Company
Jeff Martin - ROTH Capital Partners
Mark Kelley - Stifel
Operator
Hello, everybody, and welcome to the Perion Network Third Quarter 2024 Earnings Conference Call. Today's conference is being recorded and an archive of the webcast will be posted on the company's website. 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 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 the 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 Elad Tzubery, Perion's Chief Financial Officer.
I would now like to turn the call over to Tal Jacobson. Please go ahead.
Tal Jacobson
Good morning, good afternoon, and welcome to Perion's third quarter 2024 earnings call.
Today, I'm pleased to share the results and the highlight of the progress we are making in the digital advertising innovations. Technology and profitability are two core essential elements of Perion culture. For over a decade, we have been successfully building advanced, cutting-edge technologies at the forefront of AdTech industry.
And since 2014, Perion has been delivering positive annual adjusted EBITDA and operating cash flow, an accomplishment we're proud of and committed to continue to drive. At Perion, we aim to help CMOs, the same people who control almost $700 billion of digital advertising budgets. This number is projected to reach almost $1 trillion within three years.