NEW YORK & TEL AVIV - Perion Network (NASDAQ:PERI) Ltd. (NASDAQ & TASE: PERI), a digital advertising technology firm, has announced a strategic enhancement of its advertising solutions through the integration of Experian (OTC:EXPGF)'s identity graph. The move is aimed at bolstering Perion's cross-channel and cross-device targeting and attribution capabilities, aiming to improve engagement throughout the customer journey.
The integration with Experian, a global data and analytics company, is expected to complement Perion's AI-powered Audience Segmentation platform, SORT®, by utilizing privacy-safe data signals. This enhancement is designed to optimize campaign performance across various platforms, including Connected TV (CTV) and the web, by providing a more holistic view of the customer journey. With a robust current ratio of 3.88x, Perion demonstrates strong operational efficiency and financial stability to support such strategic initiatives.
Tal Jacobson, CEO of Perion, expressed enthusiasm about the collaboration, stating, "By integrating their robust identity graph with our technology solutions, we’re further empowering the advertisers working with us to optimize their campaigns, creating more personalized and effective marketing strategies for driving higher engagement and conversions."
Experian's digital identifiers are touted to offer privacy-friendly solutions that could lead to higher match rates and improved addressability for brands. This integration also aims to provide a persistent understanding of consumers, linking households and individuals to their identifiers and devices over time.
Ali Mack, Vice President at Experian, highlighted the importance of strategic collaborations in digital advertising, asserting that Perion's integration of Experian’s identity graph demonstrates a commitment to offering advertisers data-driven insights for more precise and effective personalized marketing.
The collaboration between Perion and Experian reflects a growing trend in the digital advertising industry towards leveraging data and technology to enhance targeting and measurement capabilities. As Perion continues to build its advertiser-centric platform, this partnership may serve as a significant step in advancing the company's offerings in the digital advertising space.
This announcement is based on a press release statement and contains forward-looking statements regarding the potential benefits and performance enhancements expected from the integration of Experian's identity graph into Perion's advertising solutions. According to InvestingPro analysis, while analysts anticipate some sales decline in the current year, the company is expected to remain profitable. Investors seeking deeper insights into Perion's valuation and growth prospects can access comprehensive analysis through InvestingPro's detailed research reports, available for over 1,400 US-listed companies.
In other recent news, Perion Network disclosed mixed third quarter 2024 results, indicating a challenging period for the company. The company's total revenue for the quarter was reported at $102.2 million, marking a 45% decrease year-over-year. Similarly, the adjusted EBITDA experienced a significant drop of 83% to $7.4 million compared to the same period last year. Despite these declines, Perion Network reported growth in digital out of home (63%), retail media (62%), and connected TV (19%).
The company's net cash decreased to $383.9 million, influenced by a $24 million earnout settlement. Perion Network repurchased 1.6 million shares for $13.5 million during the quarter. The full-year 2024 guidance remains unchanged, with a recovery in advertising revenue expected in Q1 2025.
Perion Network's CEO Tal Jacobson highlighted the company's ongoing innovation and commitment to profitability, despite the challenging market conditions. The company projects a resumption of advertising revenue growth in Q1 2025 with gradual improvement throughout the year. These recent developments reflect the company's efforts to navigate the current setbacks and focus on high-growth advertising sectors.
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