- Perion Network Ltd PERI reported preliminary second-quarter FY21 revenue growth of 74% year-on-year to $105 million, exceeding the consensus of $95.86M.
- Adjusted EBITDA margin expanded 871 basis points to 12.9%.
- The solid first half of 2021 coupled with a robust revenues pipeline going into the second half of the year from solid advertising revenue prospects and R&D spend led to FY21 guidance raise.
- Perion Network raised the FY21 revenue guidance from the previous $390 million - $410 million to $410 million- $430 million. The Adjusted EBITDA outlook increased from $39 million - $41 million to $49 million $51 million.
- Price action: PERI shares traded higher by 9.86% at $20.05 in the premarket session on the last check Monday.
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