Perion reported $98.2 million in Q2 revenue, down 5%, while newer ad channels like CTV and retail media surged over 50% year over year.
Perion Network posted a 5% decline in second-quarter revenue to $98.2 million, driven by weakness in open-web advertising and promotional pricing pressures. Contribution ex-TAC fell 11% to $42.3 million, though the company maintained $268 million in cash with no debt and a $6.8 million GAAP net loss.
Growth shifted toward newer advertising channels, with Perion One spend rising 15% to $156.7 million. Connected TV, digital out-of-home, and retail media spend climbed 56%, 45%, and 60%, respectively, while Outmax AI spending surged 136% on a pro forma basis.
Management narrowed its 2026 outlook, projecting contribution ex-TAC of $215 million to $225 million and adjusted EBITDA of $51 million to $53 million. The company plans to complete its $33.2 million share-buyback authorization by year-end, citing cost reductions and improving customer take rates as key drivers for a stronger second half.