• by Laurie Sullivan  @lauriesullivan, May 13, 2025

Perion Network, a digital media company under the Zacks Internet - Content industry, reported revenue Tuesday of $89.34 million for the quarter that ended March 2025, surpassing the Zacks Consensus Estimate by 1.53%.

The earnings were reported following an acquisition announcement. Perion acquired Greenbids, which supports a suite of AI-powered solutions, with the goal to increase media efficiencies, quality, and optimize performance. The company uses AI to reduce carbon emissions. 

The transaction terms include $27.5 million in cash paid on closing, two-year cash earnout of $22.5 million, and three-year employee retention of $15 million in cash and equity.  

Perion’s CEO Tal Jacobson believes the combined companies will help to reduce waste and increase return on investments for media spend.

"As the advertising landscape becomes more fragmented, our biggest challenge—and focus—is helping brands simplify decision-making with intelligent automation," he said. 

Guillaume Grimbert, Greenbids' co-founder and CEO, is joining Perion's business leadership team under the Global CRO, Stephen Yap, to drive ongoing innovation and retain the company's deep technical vision behind its products.

The acquisition of Greenbids expands Perion's addressable market with the ability to add channels such as YouTube, Facebook, and Instagram, combined with AI-driven lower-funnel capabilities.

It also complements Perion’s existing strength in top and mid-funnel media, including connected television (CTV), digital-out-of-home (DOOH), and the open web.

The goal is to gain a greater share of performance budgets to drive higher retention through brand-specific optimization for retail media, DOOH, and more.

Perion’s retail media revenue during the first calendar-year quarter rose 33% year-over-year (YoY) to $19.8 million -- up 22% compared with 9% last year.

CTV revenue rose 31% YoY to $10.7 million -- up 12% in revenue compared with 5% last year.

DOOH revenue rose 80% YoY to $17.4 million, up 19% of revenue compared with 6% last year.

The company also launched a partnership with The Trade Desk, announced results for its AI-powered chatbot, expanded its share repurchase authorization to $125 million and initiated an accelerated repurchase program to support a capital return strategy and enhance shareholder value.