Perion Network Ltd. reported its financial results for the fourth quarter and full year ended December 31, 2024, on February 19, 2025. Fourth-quarter revenue was $129.6 million, a 44.7% decrease year-over-year, and slightly missed analyst estimates.
The company reported a Q4 GAAP net income of $4.9 million, or $0.11 per share, with adjusted earnings per share at $0.33, which was in line with expectations. For the full fiscal year 2024, revenue totaled $498.3 million, representing a 33% decline from fiscal year 2023.
Search advertising revenue in Q4 fell 78% to $25.5 million, while advertising solutions revenue declined 13% to $104 million. For fiscal year 2025, Perion provided guidance projecting revenue between $400 million and $420 million, and adjusted EBITDA between $40 million and $42 million.
This 2025 revenue guidance fell significantly short of average analyst forecasts of approximately $468.8 million, implying an annual revenue decline of 17.7% at the midpoint. Management attributed this outlook to the prioritization of the new Perion One platform and AI focus, which is expected to cause some significant growing pains in the short term.
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