PERION NETWORK Reports Strong Q2 Earnings for FY 2023
August 26, 2023
☀️Earnings Overview
PERION NETWORK ($NASDAQ:PERI)’s earnings results for the second quarter of FY 2023 were reported on June 30, 2023, with total revenue amounting to USD 178.5 million – a 21.7% increase compared to the same period in the previous year. Net income for the quarter was also up, at USD 21.4 million – a 9.8% growth year over year.
Price History
On Wednesday, PERION NETWORK reported strong Q2 earnings for FY 2023. At the start of the day, the company’s stock opened at $36.2, however, it closed at the end of the day at $35.0, a decrease of 1.5% from the previous closing price of $35.5. The company attributed the strong Q2 earnings to its focus on enhancing its technology and product offerings.
In addition, PERION NETWORK also reported an improvement in customer acquisition and retention, which contributed to its success for the quarter. The company hopes to maintain its steady growth and continue building on its success in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Perion Network. More…
| Total Revenues | Net Income | Net Margin |
| 691.9 | 109.45 | 17.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Perion Network. More…
| Operations | Investing | Financing |
| 138 | -47.86 | -6.53 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Perion Network. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 903.51 | 267.02 | 13.54 |
Key Ratios Snapshot
Some of the financial key ratios for Perion Network are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 36.8% | 133.9% | 19.4% |
| FCF Margin | ROE | ROA |
| 19.8% | 13.4% | 9.3% |
Analysis
At GoodWhale, we recently conducted an analysis of PERION NETWORK‘s wellbeing and the results were encouraging. According to our Star Chart, PERION NETWORK is classified as a ‘gorilla’, which denotes a company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. This type of company will likely attract investors who are looking for a steady return on their capital. Our analysis also found that PERION NETWORK has a high health score of 10/10. This indicates that the company is capable of safely riding out any crisis without the risk of bankruptcy due to its strong cashflows and debt structure. Additionally, we noticed that the company is particularly strong in terms of asset, growth, and profitability, but is weak in dividend. More…
Peers
In the online advertising world, there are many companies that compete for market share. Among these companies are Perion Network Ltd, Snap Inc, LookSmart Group Inc, and Doumob. All of these companies offer slightly different services, but all are vying for a piece of the online advertising pie.
– Snap Inc ($NYSE:SNAP)
Snap Inc is a technology company that specializes in camera applications. It has a market cap of 15.42B as of 2022 and a Return on Equity of -20.9%. The company’s products include Snapchat, a photo messaging application that allows users to send photos and videos to friends and family; and Spectacles, sunglasses with an integrated video camera that allows users to record hands-free snaps.
– LookSmart Group Inc ($OTCPK:LKST)
The company’s market cap is 1.43M as of 2022. The company’s ROE is 4.28%. The company is a provider of online marketing services. The company offers services such as search engine optimization, pay per click management, and social media marketing.
– Doumob ($SEHK:01917)
Doumob is a social media company that operates in China. The company has a market capitalization of 121.9 million as of 2022 and a return on equity of -46.6%. The company operates a social media platform that allows users to share photos and videos. The company also operates a mobile messaging app that allows users to communicate with each other.
Summary
PERION NETWORK showed solid financial performance in Q2 2023 with a total revenue of USD 178.5 million and net income of USD 21.4 million. This is a 21.7% and 9.8% increase year over year, respectively. For investors, PERION NETWORK’s performance indicates good prospects for future growth as the company continues to expand and innovate. With a strong balance sheet and management team, PERION NETWORK is well positioned to capitalize on further market opportunities in the near future.
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