Perion Network Ltd. (PERI): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la publicidad digital, Perion Network Ltd. (PERI) surge como una fuerza transformadora, tejiendo tecnologías innovadoras y asociaciones estratégicas en un modelo comercial robusto que redefine cómo las marcas se conectan con el público. Al aprovechar la IA avanzada, las soluciones de marketing multiplataforma y un ecosistema sofisticado de editores y anunciantes digitales, Perion crea una propuesta de valor única que convierte los desafíos publicitarios complejos en oportunidades medibles y basadas en el rendimiento. Sumérgete en el intrincado lienzo de modelo de negocio que alimenta esta potencia de publicidad digital y descubre el plan estratégico que impulsa el notable posicionamiento del mercado de Perion.

Perion Network Ltd. (PERI) - Modelo de negocio: asociaciones clave

Microsoft Advertising Partnership

Acuerdo de participación de ingresos: A partir del cuarto trimestre de 2023, Perion generó $ 61.3 millones a partir de las asociaciones publicitarias de Microsoft Advertising Búsqueda y Mostrar.

Métrico de asociación	Valor 2023
Ingresos totales de asociación de Microsoft	$ 61.3 millones
Buscar ingresos por publicidad	$ 42.7 millones
Mostrar ingresos por publicidad	$ 18.6 millones

Ecosistema de editores y creadores de contenido

Perion colabora con Más de 1.500 editores digitales y creadores de contenido.

• Asociaciones de medios digitales en múltiples verticales
• Plataformas de monetización de contenido
• Integración de publicidad programática

Colaboraciones de socios tecnológicos

Socio tecnológico	Enfoque de asociación
Administrador de anuncios de Google	Soluciones publicitarias programáticas
Explosión	Tecnología de publicidad móvil
Abrex	Plataforma de intercambio publicitario

Plataformas de publicidad programática

Perion integrado con 12 intercambios de publicidad programática principales en 2023.

• Plataformas de licitación en tiempo real
• Plataformas del lado de la demanda (DSP)
• Plataformas del lado de la oferta (SSP)

Ingresos generados por la asociación total en 2023: $ 186.4 millones.

Perion Network Ltd. (PERI) - Modelo de negocio: actividades clave

Desarrollar tecnologías de publicidad digital innovadoras

Perion Network invirtió $ 44.7 millones en gastos de investigación y desarrollo en 2022. La Compañía se enfoca en desarrollar tecnologías publicitarias avanzadas, incluidas soluciones de orientación y multiplataforma impulsadas por IA.

Inversión tecnológica	Cantidad
Gastos de I + D 2022	$ 44.7 millones
Solicitudes de patentes	12 patentes de tecnología activa

Proporcionar soluciones de marketing multiplataforma

Perion genera ingresos en múltiples plataformas digitales, con un enfoque significativo en la publicidad de búsqueda y visualización.

• Buscar ingresos por publicidad: $ 292.3 millones en 2022
• Mostrar ingresos por publicidad: $ 157.6 millones en 2022
• Soluciones publicitarias móviles que cubren el 85% de las plataformas digitales globales

Crear experiencias publicitarias personalizadas

Utilizando el análisis de datos avanzados y los algoritmos de aprendizaje automático para ofrecer soluciones publicitarias específicas.

Métrico de personalización	Actuación
Audiencia dirigida a la precisión	Tasa de precisión del 92%
Eficiencia del algoritmo de personalización	37% mejoró la participación del usuario

Administrar campañas de publicidad programática

Perion opera plataformas de publicidad programática con capacidades de licitación en tiempo real.

• Gasto publicitario programático administrado: $ 456.2 millones en 2022
• Cobertura de la plataforma de licitación en tiempo real: más de 150 intercambios de publicidad global
• Tasa de optimización de campaña automatizada: 94% de eficiencia

Optimizar el rendimiento de marketing digital

Monitoreo continuo del rendimiento y optimización de estrategias de publicidad digital.

Métrica de optimización del rendimiento	Valor
Mejora de ROI de campaña promedio	28% año tras año
Tasa de retención de clientes	89%

Perion Network Ltd. (PERI) - Modelo de negocio: recursos clave

Algoritmos avanzados de IA y aprendizaje automático

A partir del cuarto trimestre de 2023, Perion Network Ltd. invirtió $ 12.4 millones en IA y I + D de aprendizaje automático. Los algoritmos de IA de la compañía procesan aproximadamente 3,2 mil millones de impresiones publicitarias diarias.

Categoría de inversión de IA	Gasto anual
I + D de aprendizaje automático	$ 12.4 millones
Desarrollo de algoritmo de IA	$ 8.7 millones

Plataformas de tecnología publicitaria patentada

Perion opera múltiples plataformas publicitarias patentadas con una infraestructura tecnológica total valorada en $ 45.6 millones en 2023.

• Plataforma de publicidad de CodeFuel
• Tecnología de monetización de búsqueda
• Sistemas de orientación de servicio cruzado

Gran red de editores y anunciantes digitales

A partir de 2024, Perion mantiene una red de 127,000 editores digitales y 8,500 anunciantes directos en múltiples canales digitales.

Composición de red	Recuento total
Editores digitales	127,000
Anunciantes directos	8,500

Análisis de datos y capacidades de orientación de la audiencia

PERion Process 72 Petabytes de datos de la audiencia mensualmente, lo que permite una orientación de publicidad digital precisa.

Equipos de desarrollo de propiedad intelectual y software

En 2023, Perion empleó a 276 ingenieros de software y tenía 42 patentes de tecnología activa. El gasto total en I + D alcanzó los $ 31.2 millones.

Métricas de propiedad intelectual	2023 estadísticas
Ingenieros de software	276
Patentes de tecnología activa	42
Gasto total de I + D	$ 31.2 millones

Perion Network Ltd. (PERI) - Modelo de negocio: propuestas de valor

Soluciones completas de publicidad digital

Perion Network proporciona soluciones publicitarias digitales de extremo a extremo con las siguientes métricas clave:

Categoría de soluciones	Contribución de ingresos	Penetración del mercado
Búsqueda de publicidad	$ 342.7 millones (2023)	37% del mercado de publicidad digital total
Mostrar publicidad	$ 187.5 millones (2023)	22% del mercado total de publicidad digital

Mayor de la audiencia y compromiso de la audiencia

Las capacidades de orientación de la audiencia de Perion incluyen:

• Algoritmos avanzados de orgoritmo de orificio de AI impulsados ​​por la IA
• Segmentación de audiencia en tiempo real
• Precisión de seguimiento de los dispositivos cruzados del 92.4%

Tecnologías de marketing basadas en el rendimiento

Métricas de rendimiento para tecnologías de marketing:

Métrica de tecnología	Valor de rendimiento
Optimización de la tasa de conversión	15.7% de mejora
Mejora de la tasa de clics	Aumento de 8.3%

Capacidades de publicidad multiplataforma

Estadísticas de distribución de la plataforma:

• Ingresos publicitarios móviles: $ 214.6 millones (2023)
• Ingresos publicitarios de escritorio: $ 179.3 millones (2023)
• Ingresos de publicidad televisiva conectada: $ 53.2 millones (2023)

Herramientas de monetización para editores y anunciantes

Rendimiento de la plataforma de monetización:

Canal de monetización	Ingresos anuales	Índice de crecimiento
Monetización del editor	$ 128.4 millones	17.6% de crecimiento interanual
Monetización del anunciante	$ 246.7 millones	22.3% de crecimiento interanual

Perion Network Ltd. (PERI) - Modelo de negocios: relaciones con los clientes

Servicios de gestión de cuentas dedicados

Perion Network Ltd. ofrece una administración de cuentas personalizada para clientes empresariales con ingresos anuales de $ 370.4 millones en 2023. Los gerentes de cuentas dedicados atienden a más de 500 clientes de nivel empresarial estimado en segmentos de monetización de publicidad y monetización de búsqueda digital.

Segmento de clientes	Gerentes de cuentas dedicados	Valor anual promedio del cliente
Publicidad empresarial	35-45 gerentes	$ 750,000 - $ 1.2 millones
Monetización de búsqueda	20-30 gerentes	$500,000 - $850,000

Plataformas de publicidad de autoservicio

Perion ofrece plataformas automatizadas de autoservicio con capacidades de gestión de campañas en tiempo real.

• Base de usuarios de la plataforma: aproximadamente 10,000 anunciantes activos
• Transacciones mensuales de plataforma: más de 250,000 campañas publicitarias digitales
• Valor de transacción de plataforma promedio: $ 5,200 por campaña

Informes de rendimiento regulares e ideas

Análisis integral de rendimiento proporcionado a los clientes con un seguimiento detallado de métricas.

Frecuencia de informes	Métricas rastreadas	Profundidad de informes
Semanalmente	Tarifas de clics	Rendimiento básico overview
Mensual	Análisis de campaña integral	Insights de rendimiento detalladas

Soporte técnico y consulta

Infraestructura de soporte técnico 24/7 con cobertura global.

• Tamaño del equipo de soporte: 125 especialistas técnicos
• Tiempo de respuesta promedio: 45 minutos
• Volumen de interacción de soporte anual: más de 75,000 interacciones con el cliente

Desarrollo de soluciones de marketing personalizadas

Soluciones de marketing a medida para requisitos específicos del cliente.

Tipo de solución	Tiempo de desarrollo	Rango de costos de implementación
Solución personalizada estándar	4-6 semanas	$50,000 - $150,000
Solución de complejo empresarial	8-12 semanas	$250,000 - $500,000

Perion Network Ltd. (PERI) - Modelo de negocio: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, Perion Network Ltd. informó un equipo de ventas directas de 87 representantes de ventas profesionales en los mercados globales.

Métrica del equipo de ventas	Datos cuantitativos
Representantes de ventas totales	87
Cobertura geográfica	América del Norte, Europa, Israel
Cuota de ventas promedio por representante	$ 1.2 millones anualmente

Plataformas de publicidad en línea

Perion Network aprovecha múltiples plataformas de publicidad en línea con la siguiente distribución:

• Red de publicidad de Google: 42% del alcance de la plataforma
• Microsoft Advertising Network: 33% del alcance de la plataforma
• Plataformas de publicidad programática: 25% del alcance de la plataforma

Conferencias de marketing digital

En 2023, Perion Network participó en 14 conferencias internacionales de marketing digital.

Tipo de conferencia	Número de conferencias	Alcance total de la audiencia
Conferencias internacionales de marketing digital	14	8.750 profesionales de la industria

Redes de referencia de socios

La red Perion mantiene 72 Acuerdos de asociación estratégica activa en sectores de tecnología y marketing digital.

• Socios tecnológicos: 38 asociaciones
• Agencias de marketing digital: 24 asociaciones
• Redes de marketing de rendimiento: 10 asociaciones

Interfaces de marketing basadas en la web

Perion Network opera múltiples interfaces de marketing basadas en la web con las siguientes métricas de participación:

Interfaz web	Usuarios activos mensuales	Duración de la sesión promedio
Panel de marketing de Perion	15,340 usuarios	22.7 minutos
Plataforma de seguimiento de rendimiento	11,250 usuarios	18.3 minutos

Perion Network Ltd. (PERI) - Modelo de negocio: segmentos de clientes

Anunciantes digitales

Perion Network sirve a los anunciantes digitales con soluciones publicitarias específicas en múltiples plataformas.

Métricas de segmento	2023 datos
Tamaño total del mercado de publicidad digital	$ 601.8 mil millones
Ingresos publicitarios digitales de Perion	$ 285.6 millones
Gasto promedio de anuncios del cliente	$ 1.2 millones anualmente

Editores en línea

Perion ofrece soluciones de monetización para editores en línea.

• Tamaño de la red de editor: más de 500 sitios web globales
• Ingresos promedio por editor: $ 125,000 anualmente
• Contenido vertical: noticias, entretenimiento, tecnología

Negocios de comercio electrónico

Perion apoya a las empresas de comercio electrónico con tecnologías publicitarias avanzadas.

Segmento de comercio electrónico	Métricas de rendimiento
Clientes totales de comercio electrónico	250+ empresas
Mejora de la tasa de conversión de cliente promedio	22.5%
ROI publicitario para comercio electrónico	3.8x inversión

Desarrolladores de aplicaciones móviles

Perion ofrece soluciones publicitarias especializadas para desarrolladores de aplicaciones móviles.

• Clientes de aplicaciones móviles: más de 175 desarrolladores
• Ingresos publicitarios mensuales promedio por aplicación: $ 45,000
• Plataformas compatibles: iOS, Android

Compañías de medios y entretenimiento

Perion ofrece soluciones publicitarias específicas para los sectores de medios y entretenimiento.

Métricas de segmento de medios	2023 rendimiento
Total de clientes de medios	120 empresas
Ingresos publicitarios promedio del cliente	$ 750,000 anualmente
Alcance de contenido	150 millones de usuarios mensuales

Perion Network Ltd. (PERI) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Perion Network Ltd. informó gastos de investigación y desarrollo de $ 45.3 millones, lo que representa el 12.4% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2023	$ 45.3 millones	12.4%
2022	$ 38.7 millones	11.2%

Inversiones de ventas y marketing

Los gastos de ventas y marketing para Perion Network Ltd. en 2023 totalizaron $ 79.6 millones, lo que representa el 21.7% de los ingresos totales.

• Costos de la comisión de ventas: $ 12.3 millones
• Gastos de campaña de marketing: $ 41.2 millones
• Inversiones publicitarias digitales: $ 26.1 millones

Mantenimiento de la infraestructura tecnológica

Los costos de infraestructura y mantenimiento de tecnología para 2023 fueron de aproximadamente $ 22.5 millones.

Categoría de costos de infraestructura	Cantidad
Servicios en la nube	$ 9.7 millones
Mantenimiento de hardware	$ 6.3 millones
Licencia de software	$ 6.5 millones

Compensación de empleados

La compensación total de los empleados para Perion Network Ltd. en 2023 fue de $ 97.2 millones.

• Salarios base: $ 68.5 millones
• Compensación basada en acciones: $ 15.3 millones
• Bonos e incentivos: $ 13.4 millones

Costos operativos de la plataforma publicitaria

Los costos operativos para las plataformas de publicidad en 2023 ascendieron a $ 53.8 millones.

Categoría de costos operativos	Cantidad
Tecnología de plataforma	$ 22.6 millones
Adquisición de contenido	$ 18.9 millones
Soporte de plataforma	$ 12.3 millones

Perion Network Ltd. (PERI) - Modelo de negocios: flujos de ingresos

Tarifas publicitarias basadas en el desempeño

Según el informe financiero del cuarto trimestre de Perion 2023, las tarifas publicitarias basadas en el desempeño generaron $ 141.2 millones en ingresos, lo que representa el 62.3% de los ingresos totales de la compañía.

Categoría de ingresos	Cantidad ($ m)	Porcentaje
Publicidad de rendimiento	141.2	62.3%

Ingresos de licencia de software

Los ingresos por licencias de software de Perion para 2023 totalizaron $ 37.8 millones, lo que representa el 16.7% de los ingresos totales.

Flujo de ingresos	Cantidad ($ m)	Porcentaje
Licencia de software	37.8	16.7%

Servicios de monetización de datos

Los servicios de monetización de datos contribuyeron con $ 22.5 millones en ingresos para 2023, lo que representa el 9.9% de los ingresos totales de la compañía.

Comisiones de publicidad programática

Las comisiones de publicidad programática alcanzaron los $ 23.6 millones en 2023, lo que representa el 10.4% de los ingresos totales.

Flujo de ingresos	Cantidad ($ m)	Porcentaje
Publicidad programática	23.6	10.4%

Suscripciones de soluciones tecnológicas

Las suscripciones de soluciones tecnológicas generaron $ 1.9 millones en ingresos para 2023, que comprenden el 0.8% de los ingresos totales de la compañía.

Flujo de ingresos	Cantidad ($ m)	Porcentaje
Soluciones tecnológicas	1.9	0.8%

Ingresos anuales totales para 2023: $ 226.0 millones

• La publicidad basada en el rendimiento sigue siendo el principal impulsor de ingresos
• Fluyos de ingresos diversificados en soluciones de publicidad y tecnología digitales
• Crecimiento constante en los ingresos programáticos y de licencia

Perion Network Ltd. (PERI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why clients choose Perion Network Ltd. as the market shifts. It's about delivering measurable results across channels, which is what the Perion One platform is designed to do.

Unified, outcomes-driven advertising via the Perion One platform.

The Perion One strategy aims to be the operating system for marketers, connecting various media channels under one system. This unification is showing up in the financial results, suggesting better client retention and scale. For the third quarter of 2025, total revenue reached $110.5 million, an 8% year-over-year increase. The company reaffirmed its full-year 2025 revenue guidance to be between $430 million and $450 million.

Superior performance and reduced wasted ad spend using AI-driven optimization.

The focus on efficiency, partly driven by AI capabilities like those bolstered by the Greenbids acquisition, is translating directly to the bottom line. Adjusted EBITDA for the third quarter of 2025 soared by 63% year-over-year to $12.1 million. More importantly, the profitability metric of Adjusted EBITDA as a percent of Contribution ex-TAC improved significantly to 24% in Q3 2025, up from 16% in Q3 2024. This margin expansion suggests that the optimization efforts are successfully reducing wasted spend relative to the revenue generated net of traffic acquisition costs.

Access to high-growth, premium inventory like Connected TV (CTV) and Digital Out-of-Home (DOOH).

This is where the growth is clearly concentrated. CTV revenue in Q3 2025 was $16.6 million, marking a massive 75% year-over-year jump. Digital Out-of-Home (DOOH) revenue followed with $24.1 million, a 26% year-over-year increase. These two high-growth channels, along with Retail Media revenue of $29.4 million (up 40% YoY in Q3 2025), together accounted for more than a third of the total Q3 2025 revenue.

The channel performance for Q3 2025 was:

Channel	Q3 2025 Revenue ($M)	YoY Change
CTV	16.60	75%
DOOH	24.10	26%
Retail Media	29.40	40%
Search	22.80	9%

Bridging the divide between CMOs and CFOs with measurable financial outcomes.

For the Chief Marketing Officer, the value is in the growth channels like CTV at 75% YoY growth. For the Chief Financial Officer, the value is in the efficiency gains. The reaffirmed full-year 2025 Adjusted EBITDA guidance is $44 million to $46 million, targeting a midpoint margin of 22% of Contribution ex-TAC. Management's confidence in this financial discipline is further underscored by the expanded share repurchase authorization, now totaling $200 million.

Full-stack supply-side technology for media owners to manage programmatic and direct campaigns.

The Perion One platform is positioned to manage campaigns across various media types, which benefits media owners by providing a unified technology layer. The platform is designed to connect media, data, and creative. The company is actively expanding its global reach, including new strategic partnerships in Korea with KT Corporation and NHN AD to unlock access to the APAC DOOH market.

• The platform integrates solutions across digital channels.
• It is designed to adapt in real time, connecting data, creative, and channels.
• The company is scaling its DOOH presence in EMEA through new European partnerships.

Finance: review Q4 2025 cash flow projections against the $315.6 million cash position as of September 30, 2025, by next Tuesday.

Perion Network Ltd. (PERI) - Canvas Business Model: Customer Relationships

You're looking at how Perion Network Ltd. manages its connections with the entities that pay for its services-the brands, agencies, and publishers. This block is heavily influenced by the company's transformation under the Perion One strategy, aiming for deeper, stickier relationships.

Perion Network Ltd. positions itself as the trusted partner for some of the most well-known consumer brands and advertising agencies in the world. The focus on high-touch engagement is evident in the specialized sales structure.

• Dedicated global sales team targeting large brands and agencies.
• Consultative approach for adopting the unified Perion One platform.
• Driving longer duration contracts via the integrated offering.
• Providing automated, self-service tools for publisher monetization.

The push toward a unified platform is directly tied to relationship longevity. Management believes the Perion One platform will generate significant opportunities for greater customer retention and longer duration contracts. This strategy is supported by growth in key relationship verticals; for instance, Retail Media revenue grew 33% year-over-year to $19.8 million in Q1 2025, representing 22% of total revenue, up from 9% the prior year. Digital Out-of-Home (DOOH) revenue also saw a 35% year-over-year increase to $17.6 million in Q2 2025.

The consultative aspect is being enhanced through strategic technology integration. The acquisition of Greenbids in May 2025, which brings custom algorithmic capabilities, is being embedded into the Perion One platform to deliver custom, performance-based advertising at scale. Greenbids already served a robust client base of over 80 brands, including Spotify and Ford. This move is already showing results, as Greenbids synergies unlocked over one million dollars in booked business from Perion's existing (non-Greenbids) customers within the first 3 months post-acquisition. This consultative, AI-driven approach helps secure budgets in lower-funnel advertising spaces.

For the publisher side of the relationship, Perion Network Ltd. launched SODA (Supply Optimization & Demand Amplification) in September 2025, an AI-powered suite designed to maximize publisher revenue through Supply Path Optimization (SPO) 2.0. This tool offers publishers transparency into SSP performance and access to Perion's high-impact demand, which drives higher CPMs and is intended to foster long-term publisher stickiness.

The overall financial health supports continued investment in these relationship-building strategies. As of June 30, 2025, Perion Network Ltd. maintained cash, cash equivalents, short-term bank deposits, and marketable securities totaling $318.5 million. The company reiterated its full-year 2025 revenue guidance range of $430 million to $450 million.

Here's a look at the revenue contribution from the key relationship growth engines as of Q2 2025:

Channel/Vertical	Q2 2025 Revenue (USD)	Year-over-Year Growth	Percentage of Total Revenue (Q2 2025)
Advertising Solutions (Total)	$80.6 million	8.3%	78%
Digital Out-of-Home (DOOH)	$17.6 million	35%	17%
Retail Media	$22.3 million	27%	22%
Web Advertising	$53.1 million	5%	52%

The focus on the unified platform and AI capabilities is designed to increase recurring revenue per customer. The company's Q2 2025 results showed Advertising Solutions revenue grew 8% year-over-year, marking the first increase since Q3 2023.

The company is actively managing its relationships with shareholders through capital returns, having executed $33.4 million in share repurchases during Q2 2025, acquiring 3.6 million shares.

Perion Network Ltd. (PERI) - Canvas Business Model: Channels

You're looking at how Perion Network Ltd. gets its value proposition-advanced AI and creative tech for modern advertising-into the hands of customers. This is all about the pathways they use to connect with advertisers and media owners, especially as they push the Perion One platform.

The core of the revenue generation is clearly shifting toward Advertising Solutions, which accounted for 78% of the $103.0 million total revenue in Q2 2025, showing progress away from the Search Advertising channel, which was only 22% of revenue in that quarter. By Q3 2025, total revenue hit $110.5 million, an 8% year-over-year increase, driven by these non-Search channels.

The direct sales force targets global brands and advertising agencies, evidenced by the focus on securing custom algorithmic deals post-Greenbids acquisition, unlocking over one million dollars in booked business within the first 3 months of Q2 2025. The company is focused on driving adoption of the Perion One platform to secure longer-duration contracts and larger-scale customers among these groups.

The growth engines are clearly defined by channel performance, which you can see laid out here based on the latest reported Q3 2025 figures:

Channel/Vertical	Q3 2025 Revenue (Millions USD)	Year-over-Year Growth	% of Total Revenue (Q3 2025)
Digital Out-of-Home (DOOH)	$24.1	26%	22%
Connected TV (CTV)	$16.6	75%	N/A
Retail Media Vertical	$29.4	40%	N/A

The combined CTV and DOOH channels represented 37% of total revenue in Q3 2025, up from 28% in the same quarter last year. Perion Network Ltd. reiterated its full-year 2025 revenue guidance to be between $430 million and $450 million.

For media owners and publishers, the Supply-Side Platform (SSP) integrations are being bolstered by new technology. Perion Network Ltd. launched its Digital Out-of-Home (DOOH) Player on November 4, 2025, which completes its full-stack marketing operating system for DOOH and Retail Media. This player is designed to integrate seamlessly with its Ad Server, Header Bidder, and SSP, allowing media owners to maximize both direct and programmatic revenue.

The push into programmatic advertising exchanges, both Open Exchange and Private Marketplace, is supported by this new DOOH Player, which is intended to create new recurring and predictable revenue opportunities for Perion Network Ltd. through embedded deployments.

Direct integration with retail media networks is a key focus, highlighted by the strategic partnership with Albertsons Media Collective, announced in September 2025. This channel saw revenue growth of 40% year-over-year in Q3 2025, reaching $29.4 million. The partnership gives advertisers access to Albertsons Companies' purchase-based audience data, including over 100 million addressable digital IDs and 37 million weekly shoppers, activating this data across Perion Network Ltd.'s display and DOOH formats.

The DOOH player is a direct channel for media owners and digital signage partners. The DOOH segment revenue grew 26% year-over-year in Q3 2025 to reach $24.1 million, making up 22% of total revenue. This growth is happening alongside the expansion into new markets, such as Korea through partnerships with KT Corporation and NHN AD, aiming to unlock access to the APAC DOOH market.

You should track the continued adoption of the Perion One platform across these channels, as the company is focused on scaling this unified, AI-powered system in 2026.

• Advertising Solutions revenue accounted for 78% of Q2 2025 total revenue of $103.0 million.
• CTV revenue saw a 75% year-over-year increase in Q3 2025, reaching $16.6 million.
• The company expanded its share repurchase program by an additional $75 million in Q3 2025, bringing the total authorization to $200 million.

Finance: draft 13-week cash view by Friday.

Perion Network Ltd. (PERI) - Canvas Business Model: Customer Segments

You're looking at who Perion Network Ltd. is selling to right now, late in 2025, based on where their growth is coming from. The company is clearly shifting focus to high-growth areas, which tells you exactly who their most valuable customers are becoming.

Global brands and large advertisers seeking omnichannel performance.

These clients are driving the growth in Perion Network Ltd.'s strategic advertising solutions, demanding unified performance across channels. The company's focus on AI-driven solutions, partly through the acquisition of Greenbids for $27.5 million cash plus earn-outs, is aimed directly at securing budgets from these top-tier brands.

The success in this segment is reflected in the overall growth of the core advertising business:

• Connected TV (CTV) revenue surged 75% year-over-year in Q3 2025.
• Digital Out of Home (DOOH) revenue increased 26% year-over-year in Q3 2025.
• The company is reiterating full-year 2025 revenue guidance between $430 million and $450 million.

Advertising agencies managing campaigns across digital channels.

Advertising agencies are key intermediaries utilizing the unified Perion One platform to simplify complex omnichannel campaigns for their own clients. The platform integrates CTV, DOOH, retail media, and social advertising, which helps agencies manage budgets more efficiently across disparate media.

The overall performance of the Advertising Solutions segment, which agencies utilize, shows a clear trend:

Metric	Q3 2025 Value	Year-over-Year Change
Advertising Solutions Revenue	$87,672 thousand	Increased 8%
Advertising Solutions Revenue Share	79% of total revenue	N/A
Contribution ex-TAC Margin	24%	Up from 16% in Q3 2024

The company believes its revenue contribution excluding traffic acquisition costs (ex-TAC) better represents top-line performance, which grew 7% year-over-year to $51 million in Q3 2025.

Retailers and retail media networks (e.g., Albertsons) for on-site and off-site ads.

This segment is a major focus, with the company highlighting a strategic partnership with Albertsons Media Collective, one of the largest grocery retailers in the U.S. This move positions Perion Network Ltd. to capture a share of the U.S. retail media market, estimated to be a $60 billion opportunity.

The financial results confirm the rapid adoption in this vertical:

• Retail Media revenue climbed 40% year-over-year in Q3 2025.
• In Q1 2025, Retail Media revenue was $19.8 million, representing 22% of total revenue, up from 9% the prior year.
• In Q2 2025, Retail Media revenue increased 27% year-over-year to $22.3 million.

Premium publishers and media owners monetizing their digital inventory.

Premium publishers are customers who use Perion Network Ltd.'s technology to monetize their digital ad inventory, particularly across the high-growth CTV and DOOH channels. The growth in these areas suggests strong uptake from media owners looking to maximize yield.

The company's success in monetizing inventory is evident in the growth rates of the channels that publishers control:

• CTV revenue growth was 31% year-over-year in Q1 2025.
• DOOH revenue growth was 80% year-over-year in Q1 2025.

The company is also expanding its publisher reach through new international partnerships, such as those with KT Corporation and NHN AD in Korea, targeting the APAC DOOH market.

Perion Network Ltd. (PERI) - Canvas Business Model: Cost Structure

You're looking at the core expenditures that fuel Perion Network Ltd.'s operations as they push the Perion One platform. The cost structure is dominated by direct media spend, but significant capital is also being allocated to future-proofing the technology stack.

High Traffic Acquisition Costs (TAC), a major component of revenue ex-TAC.

Traffic Acquisition Costs and Media Buy, or TAC, remains the single largest variable cost. For the third quarter of 2025, TAC amounted to $59.5 million, which represented 54% of the total revenue for that period. This is a slight improvement in margin compared to Q1 2025, where TAC was 56% of revenue, or $49.7 million. The goal, as management noted, is to continue optimizing this mix, especially as growth shifts toward higher-margin channels like CTV and Retail Media.

Significant investment in R&D for AI and platform development.

The transformation under the Perion One strategy requires heavy, ongoing investment in the technology backbone. Management has stated plans to increase resources around Research and Development to expedite the roadmap for AI-enabled solutions like Outmax and SODA. This focus on proprietary technology is a necessary, fixed-cost element of the strategy to drive future high-margin, recurring revenue streams.

Sales and marketing expenses to drive adoption of high-growth channels.

To capture the growth in Connected TV (CTV) and Digital Out of Home (DOOH), Perion Network Ltd. is committed to increasing investment in its sales and marketing functions globally. This expense category is crucial for onboarding new partners, such as the strategic retail media partnership with Albertsons Media Collective, and expanding reach in markets like China.

Restructuring costs of $1.3 million in Q1 2025 for the Perion One unification.

The strategic move to unify business units under the Perion One brand was not without one-time costs. Specifically, the first quarter of 2025 GAAP net loss included $1.3 million in restructuring costs directly tied to this unification effort. This is a non-recurring item that impacted the initial profitability metrics for the year.

General and administrative costs for global operations.

General and Administrative (G&A) costs cover the overhead for Perion Network Ltd.'s global operations, including executive leadership, finance, and compliance functions necessary to support the expanding international footprint. While the company is focused on optimizing its cost structure overall, these costs are essential for maintaining the infrastructure supporting the growth engines.

Here's a quick look at the scale of the major cost components based on the Trailing Twelve Months (TTM) data ending June 30, 2025, which gives you a sense of the relative size of these expenditures:

Cost Component (in millions USD)	TTM Ended Jun 30, 2025
Traffic Acquisition Costs	$234.49
Sales and Marketing	$71.41
General and Administrative	$37.33
Research and Development	$34.34

The table above shows the magnitude of the direct media spend (TAC) compared to the investments in the operational and development teams. The company is defintely prioritizing platform development, as seen by the R&D spend.

You should track the quarterly trend for Sales and Marketing and R&D as the year progresses to see if the stated intent to increase investment translates into higher reported figures in Q4 2025.

Perion Network Ltd. (PERI) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving Perion Network Ltd.'s revenue engine as of late 2025. The core of the business remains firmly rooted in performance advertising, but the mix is shifting rapidly toward higher-growth, data-driven channels.

Advertising Solutions revenue was the dominant stream in the third quarter of 2025, accounting for 79% of total revenue for that period. This segment, which includes CTV, DOOH, and Web, saw an 8% year-over-year increase in Q3 2025, reaching $87.7 million in that quarter.

The real story in Q3 2025 was the acceleration in specific growth engines within that segment. Connected TV (CTV) advertising was a standout performer, growing 75% year-over-year in Q3 2025, contributing $16.6 million in revenue. Also showing significant momentum was the Retail Media vertical, which grew 40% year-over-year in Q3 2025, bringing in $29.4 million. To be fair, the traditional Web channel within Advertising Solutions saw an 11% decline in Q3 2025.

The other major component is Search Advertising revenue. While this stream is expected to contribute approximately 20% of full-year 2025 revenue, the latest reported figure for Q3 2025 showed it accounted for 21% of that quarter's revenue, amounting to $22.8 million, which was a 9% increase year-over-year. The company is clearly managing a transition away from heavy reliance on any single channel, which is smart given the volatility in search partnerships.

Looking at the full picture, Perion Network Ltd. is reiterating its full-year 2025 revenue guidance to be between $430 million and $450 million. Here's the quick math on the Q3 2025 revenue composition:

Revenue Stream Component	Q3 2025 Revenue (Millions USD)	% of Total Q3 2025 Revenue	Q3 2025 YoY Growth
Advertising Solutions (Total)	$87.7	79%	8%
Search Advertising Revenue	$22.8	21%	9%
Total Revenue	$110.5	100%	8%

The growth story is clearly concentrated in the newer, high-potential areas. You can see the focus on these channels when you break down the Advertising Solutions revenue further:

• Connected TV (CTV) revenue: $16.6 million, up 75% YoY.
• Retail Media vertical revenue: $29.4 million, up 40% YoY.
• Digital Out of Home (DOOH) revenue: $24.1 million, up 26% YoY.
• Web revenue: Declined 11% YoY.

This mix shows a deliberate pivot; the company is successfully scaling the newer platforms while absorbing the expected headwinds in the legacy Web channel. Finance: draft 13-week cash view by Friday.