Perion (PERI) Q1 2026 Earnings Transcript

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DATE

Wednesday, May 20, 2026 at 8:30 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Tal Jacobson

• Chief Financial Officer — Elad Tzubery

Full Conference Call Transcript

Tal Jacobson: Good morning, and thank you for joining us on Perion's earnings call for the first quarter of 2026. 2025 was year 1 for the new Perion. 2026 focuses on advancing our new technologies and accelerating their adoption among our clients. In the first quarter of 2026, we saw an increase across all our growth engines. Our fastest-growing channel, CTV and Digital out-of-home outgrew the market. In retail media adoption, we experienced significant growth that Elad will present. And I'm also happy to share that Outmax, our AI Agent technology that was part of the Green Bits acquisition is growing rapidly and is becoming a meaningful part of Perion One.

A few important data points from our quarterly numbers, the Perion One product line is seeing an increase of 6% in marketing budgets which we refer to as spend. This is an encouraging number, as we see a faster adoption of our platform and the Outmax AI agent usage among our clients. You can also recognize that both acquisitions high stacking green bits were extremely successful as both out-of-home and Outmax numbers are continuing to grow quarter after quarter. This represents our ability to acquire high-quality companies and integrate them efficiently. Perion One is designed to solve the complexity of the global advertising ecosystem that is both massive and fragmented.

Marketers navigate in a universe of screens, platforms, formats, data sets and buying environments, while trying to achieve higher standards of performance. Budget, signals and optimizations are siloed by channels, creating a challenging fragmentation that leads to efficiency and performance breakdown. This is the core challenge we've been focused on solving. We are building Perion One as an AI-native execution infrastructure to unify the fragmented ecosystem for both advertisers and publishers. Perion One enables advertisers to perform highly complex marketing activities. It allows them to make confident decisions faster while continuously optimizing every campaign in real time. With Perion One, publishers are able to maximize inventory value through smarter demand allocation and yield optimization.

By aligning execution across both sides of the ecosystem, demand and supply, Perion One improves efficiency, performance and outcomes end-to-end. Perion One is an infrastructure, not a tool set. The most advanced part of Perion One is the Outmax technology, our AI agent, which is showing tremendous growth. Outmax goal is to be the one AI agent for every channel, whether it's YouTube, Facebook, Instagram, NBC or Disney Plus, Outmax is designed to act as an intelligent execution agent that ensures every dollar spent is working at its maximum potential. Outmax removes the guesswork and replaces it with algorithm certainty.