Publicly traded Tel Aviv-based global marketing tech firm Perion released earnings for the final quarter and fiscal year of 2015, reporting that the
company saw non-GAAP revenue of $219 million for the year and $65 million for Q4. In December, Perion acquired ad
technology firm Undertone for $180 million in cash,
Real-Time
Daily reported.
2015's non-GAAP revenue of $219 million is down from the company's 2014 non-GAAP revenue of $394 million.
A spokesperson for Perion stated
that the company proactively addressed the changing search market by lowering search media spend and focusing on premium publishers, as well as restructuring the business and changing its search
revenue model. As a result, the company was able to reduce risk in search, but at lower revenue and margins.
Similarly, non-GAAP revenue of $65 million for Q4 2015 is down from Q4 2014's
$79 million.
Josef Mandelbaum, CEO, Perion, stated the acquisitions of Undertone and MakeMeReach (a social media ad platform acquired in February 2014)
diversified its revenue, adding that the addition of the two companies will "represent close to 50% of total revenue in 2016."
Mandelbaum stated that search revenues have stabilized, a trend
the company expects to continue in 2016, and that its 2015 acquisitions position the company in growth categories like mobile, social and video.