Balance Sheet Perion Network Ltd.

Equities

PERI

IL0010958192

Software

Market Closed - Nasdaq Other stock markets 04:00:00 2024-09-06 pm EDT			5-day change	1st Jan Change
8.190 ^USD	-1.68%		-4.21%	-73.47%

Jul. 31	Lake Street Upgrades Perion Network to Buy From Hold, Price Target is $10	MT
Jul. 31	Transcript : Perion Network Ltd., Q2 2024 Earnings Call, Jul 31, 2024

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Published financial data: PERION NETWORK LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	261M	328M	478M	640M	743M
Total Revenues	261M	328M	478M	640M	743M
Cost of Goods Sold, Total	161M	220M	313M	403M	471M
Gross Profit	100M	108M	165M	237M	272M
Selling General & Admin Expenses, Total	49.74M	54.9M	74.14M	83.64M	89.79M
R&D Expenses	22.58M	30.88M	35.35M	34.42M	33.07M
Depreciation & Amortization - (IS)	9.71M	9.92M	9.9M	13.84M	14.09M
Other Operating Expenses, Total	82.03M	95.71M	119M	132M	137M
Operating Income	18.01M	12.25M	45.9M	105M	135M
Interest Expense, Total	-1.95M	-1.04M	-119K	-	-
Interest And Investment Income	624K	287K	539K	4.99M	20.73M
Net Interest Expenses	-1.33M	-758K	420K	4.99M	20.73M
Currency Exchange Gains (Loss)	-950K	-1.54M	-528K	-264K	-567K
Other Non Operating Income (Expenses)	-1.19M	-343K	-473K	-227K	-357K
EBT, Excl. Unusual Items	14.54M	9.62M	45.32M	110M	155M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	1.15M
Asset Writedown	-	-	-	-	-
In Process R&D Expenses	-	-	-	-	-
Other Unusual Items	-	-	-	3.82M	-18.69M
EBT, Incl. Unusual Items	14.54M	9.62M	45.32M	114M	138M
Income Tax Expense	1.64M	-610K	6.61M	14.44M	20.28M
Earnings From Continuing Operations	12.89M	10.22M	38.71M	99.22M	117M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	12.89M	10.22M	38.71M	99.22M	117M
Net Income - (IS)	12.89M	10.22M	38.71M	99.22M	117M
Net Income to Common Incl Extra Items	12.89M	10.22M	38.71M	99.22M	117M
Net Income to Common Excl. Extra Items	12.89M	10.22M	38.71M	99.22M	117M
Per Share Items
Net EPS - Basic	0.5	0.38	1.13	2.21	2.49
Basic EPS - Continuing Operations	0.5	0.38	1.13	2.21	2.49
Basic Weighted Average Shares Outstanding	25.97M	26.69M	34.4M	44.87M	47.13M
Net EPS - Diluted	0.49	0.36	1.02	2.06	2.34
Diluted EPS - Continuing Operations	0.49	0.36	1.02	2.06	2.34
Diluted Weighted Average Shares Outstanding	26.36M	28.8M	37.83M	48.07M	50.07M
Normalized Basic EPS	0.35	0.23	0.82	1.53	2.06
Normalized Diluted EPS	0.34	0.21	0.75	1.43	1.94
Supplemental Items
EBITDA	23.46M	15.54M	48.81M	109M	139M
EBITA	21.62M	13.94M	47.18M	107M	138M
EBIT	18.01M	12.25M	45.9M	105M	135M
EBITDAR	26.54M	19.03M	53.25M	112M	141M
Total Revenues (As Reported)	261M	328M	478M	640M	743M
Effective Tax Rate - (Ratio)	11.32	-6.34	14.58	12.7	14.73
Current Domestic Taxes	3.52M	1.47M	7.45M	15.94M	21.11M
Current Foreign Taxes	297K	1.03M	444K	820K	517K
Total Current Taxes	3.82M	2.5M	7.89M	16.76M	21.62M
Deferred Domestic Taxes	-197K	-984K	-980K	-860K	-1.59M
Deferred Foreign Taxes	-1.84M	-2.13M	-1.78M	-665K	860K
Total Deferred Taxes	-2.04M	-3.11M	-2.76M	-1.52M	-734K
Normalized Net Income	9.09M	6.01M	28.32M	68.66M	97.02M
Interest on Long-Term Debt	267K	-	-	-	-
Non-Cash Pension Expense	1.27M	1.75M	1.8M	2.81M	3.21M
Supplemental Operating Expense Items
Selling and Marketing Expenses	34.74M	39.08M	53.21M	56.01M	57.99M
General and Administrative Expenses	15M	15.82M	20.93M	27.63M	31.8M
Research And Development Expense From Footnotes	26.84M	37.52M	42.33M	44.31M	43.15M
Net Rental Expense, Total	3.08M	3.49M	4.44M	2.85M	1.99M
Imputed Operating Lease Interest Expense	1.19M	820K	192K	-	-
Imputed Operating Lease Depreciation	1.89M	2.67M	4.25M	-	-
Stock-Based Comp., COGS (Total)	164K	102K	171K	446K	919K
Stock-Based Comp., R&D Exp. (Total)	488K	887K	946K	2.13M	2.74M
Stock-Based Comp., S&M Exp. (Total)	515K	1.9M	3.25M	4.53M	7M
Stock-Based Comp., G&A Exp. (Total)	1.13M	1.56M	2.62M	4.47M	4.93M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	2.29M	4.45M	6.98M	11.57M	15.59M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	38.39M	47.66M	104M	176M	188M
Short Term Investments	23.23M	12.7M	217M	253M	285M
Total Cash And Short Term Investments	61.62M	60.36M	322M	430M	473M
Accounts Receivable, Total	49.1M	81.22M	115M	160M	232M
Total Receivables	49.1M	81.22M	115M	160M	232M
Prepaid Expenses	3.1M	4.56M	7.98M	12.02M	20.8M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	1.22M	1.22M	1.09M	1.3M	1.34M
Other Current Assets, Total	73K	-	96K	25K	234K
Total Current Assets	115M	147M	446M	603M	727M
Gross Property Plant And Equipment	53.51M	50.86M	42.35M	39.72M	35.02M
Accumulated Depreciation	-20.16M	-23.82M	-26.56M	-25.98M	-25.23M
Net Property Plant And Equipment	33.35M	27.04M	15.79M	13.74M	9.79M
Goodwill	126M	152M	189M	196M	248M
Other Intangibles, Total	2.64M	24.38M	56.7M	51.66M	88.65M
Deferred Tax Assets Long-Term	6.17M	7.11M	5.23M	5.78M	4.18M
Other Long-Term Assets, Total	708K	496K	79K	49K	85K
Total Assets	284M	359M	713M	870M	1.08B
Liabilities
Accounts Payable, Total	47.68M	72.5M	108M	156M	217M
Accrued Expenses, Total	18.14M	20.4M	30.86M	36.73M	41.8M
Current Portion of Long-Term Debt	8.33M	8.33M	-	-	-
Current Portion of Leases	3.67M	4.51M	3.62M	3.9M	4.2M
Unearned Revenue Current, Total	4.19M	5.71M	3.85M	2.38M	2.3M
Other Current Liabilities	1.3M	8.66M	47.65M	35.75M	74.55M
Total Current Liabilities	83.31M	120M	194M	235M	340M
Long-Term Debt	8.33M	-	-	-	-
Long-Term Leases	20.36M	17.7M	9.77M	7.58M	3.45M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	6.59M	36.75M	42.79M	44.9M	15.64M
Total Liabilities	119M	175M	246M	287M	359M
Common Stock, Total	213K	224K	375K	398K	413K
Additional Paid In Capital	243M	252M	496M	514M	531M
Retained Earnings	-77.37M	-67.14M	-28.44M	70.79M	188M
Treasury Stock	-1M	-1M	-1M	-1M	-1M
Comprehensive Income and Other	130K	112K	-128K	-582K	-83K
Total Common Equity	165M	184M	467M	583M	718M
Total Equity	165M	184M	467M	583M	718M
Total Liabilities And Equity	284M	359M	713M	870M	1.08B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	26.71M	33.85M	44.29M	46.52M	48.42M
ECS Total Common Shares Outstanding	26.24M	27.35M	43.7M	46.17M	47.99M
Book Value / Share	6.29	6.73	10.69	12.63	14.96
Tangible Book Value	36.74M	7.44M	221M	336M	382M
Tangible Book Value Per Share	1.4	0.27	5.06	7.28	7.95
Total Debt	40.7M	30.54M	13.39M	11.48M	7.65M
Net Debt	-20.93M	-29.81M	-308M	-418M	-465M
Debt Equivalent Oper. Leases	24.61M	27.94M	35.53M	22.77M	15.94M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	9.92M	9.46M	9.9M	8.72M	8.86M
Full Time Employees	399	417	399	440	420
Accumulated Allowance for Doubtful Accounts (Supple)	417K	694K	891K	2.13M	2.09M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	12.89M	10.22M	38.71M	99.22M	117M
Depreciation & Amortization - CF	1.85M	1.61M	1.63M	1.95M	1.64M
Amortization of Goodwill and Intangible Assets - (CF)	3.61M	1.68M	1.29M	2M	2.36M
Depreciation & Amortization, Total	5.46M	3.29M	2.92M	3.95M	4.01M
Amortization of Deferred Charges, Total - (CF)	4.26M	6.64M	6.98M	9.89M	10.08M
(Gain) Loss From Sale Of Asset	-	10K	121K	-12K	-27K
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	2.29M	4.45M	6.98M	11.57M	15.59M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-325K	1.42M	-2.26M	-12.06M	11.6M
Change In Accounts Receivable	6.42M	-32.05M	-34.24M	-45.24M	-5.33M
Change In Accounts Payable	9.46M	24.74M	35.22M	48.19M	6.88M
Change in Unearned Revenues	394K	1.51M	-1.85M	-1.47M	-1.09M
Change in Other Net Operating Assets	3.9M	1.93M	18.53M	8.08M	-3.66M
Cash from Operations	44.74M	22.16M	71.11M	122M	155M
Capital Expenditure	-1.21M	-459K	-627K	-1.06M	-811K
Sale of Property, Plant, and Equipment	492K	5K	95K	12K	27K
Cash Acquisitions	-1.2M	-19M	-38.44M	-9.57M	-102M
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-19.23M	10.53M	-204M	-36.2M	-30.65M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-21.15M	-8.92M	-243M	-46.82M	-133M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-24.18M	-8.33M	-8.33M	-	-
Total Debt Repaid	-24.18M	-8.33M	-8.33M	-	-
Issuance of Common Stock	1.23M	4.29M	237M	5.83M	2.43M
Other Financing Activities, Total	-1.81M	-	-	-9.09M	-13.26M
Cash from Financing	-24.77M	-4.05M	229M	-3.26M	-10.82M
Foreign Exchange Rate Adjustments	-20K	81K	-33K	-59K	141K
Net Change in Cash	-1.2M	9.27M	56.66M	71.99M	11.43M
Supplemental Items
Cash Interest Paid	2.32M	1.1M	203K	5K	6K
Cash Income Tax Paid (Refund)	4.01M	3.18M	4.36M	7.69M	18.03M
Levered Free Cash Flow	38.38M	23.36M	90.17M	81.5M	139M
Unlevered Free Cash Flow	39.6M	24.01M	90.24M	81.5M	139M
Change In Net Working Capital	-17.55M	-2.44M	-45.3M	8.69M	-25.04M
Net Debt Issued / Repaid	-24.18M	-8.33M	-8.33M	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.17	2.38	5.35	8.32	8.69
Return on Total Capital	5.7	3.64	8.25	12.25	12.82
Return On Equity %	8.21	5.85	11.89	18.9	18.05
Return on Common Equity	8.21	5.85	11.89	18.9	18.05
Margin Analysis
Gross Profit Margin %	38.26	32.91	34.54	37.06	36.65
SG&A Margin	19.02	16.74	15.49	13.06	12.08
EBITDA Margin %	8.97	4.74	10.2	17.07	18.76
EBITA Margin %	8.27	4.25	9.86	16.77	18.54
EBIT Margin %	6.89	3.73	9.59	16.45	18.22
Income From Continuing Operations Margin %	4.93	3.12	8.09	15.5	15.8
Net Income Margin %	4.93	3.12	8.09	15.5	15.8
Net Avail. For Common Margin %	4.93	3.12	8.09	15.5	15.8
Normalized Net Income Margin	3.48	1.83	5.92	10.72	13.06
Levered Free Cash Flow Margin	14.68	7.12	18.84	12.73	18.64
Unlevered Free Cash Flow Margin	15.15	7.32	18.86	12.73	18.64
Asset Turnover
Asset Turnover	0.97	1.02	0.89	0.81	0.76
Fixed Assets Turnover	10.67	10.87	22.35	43.36	63.17
Receivables Turnover (Average Receivables)	5	5.03	4.87	4.64	3.79
Short Term Liquidity
Current Ratio	1.38	1.23	2.3	2.57	2.14
Quick Ratio	1.33	1.18	2.26	2.52	2.07
Operating Cash Flow to Current Liabilities	0.54	0.18	0.37	0.52	0.46
Days Sales Outstanding (Average Receivables)	73.05	72.69	74.98	78.63	96.27
Average Days Payable Outstanding	97.11	99.92	105.01	119.36	144.61
Long Term Solvency
Total Debt/Equity	24.64	16.59	2.87	1.97	1.06
Total Debt / Total Capital	19.77	14.23	2.79	1.93	1.05
LT Debt/Equity	17.37	9.61	2.09	1.3	0.48
Long-Term Debt / Total Capital	13.94	8.24	2.03	1.27	0.48
Total Liabilities / Total Assets