Perion Network Ltd

Hello everybody and welcome to the Perion Network second quarter 2026 earnings conference call. Hello everybody and welcome to the Perion Network second quarter 2026 earnings conference call. Today's conference call is being recorded. An archive of the webcast will be posted on the company's website. The press release detailing the financial results is available on the company's website at www.perion.com. Before we begin, I'd like to read the following safe harbour statements. Today's discussion includes forward-looking statements. These statements reflect the company's current views with respect to future events. The company does not undertake to update any forward-looking statements to reflect future statements or circumstances. As in prior quarters, the results reported today will be analysed both on a gap and a non-gap basis. As in prior quarters, the results reported today will be analysed both on a gap and a non-gap basis. By mentioning EBITDA, we will be referring to adjusted EBITDA. We have provided a detailed reconciliation of non-gap measures and their comparable gap measures in our earnings release, which is available on our website and has also been filed on Form 6K. Hosting the call today are Tal Jacobson, Perrion's Chief Executive Officer, and Elad Tzubery, Perrion's Chief Financial Officer. Good morning, and thank you for joining us on Perrion's earnings call for the second quarter of 2026.

Good morning and thank you for joining us on Perion's Earnings Call for the second quarter of 2026. Nearly two years ago, we made a deliberate decision to diversify Perion away from the open web. This diversification was driven by both our organic investments in CTV and Retail Media. This diversification was driven by both our organic investment in CTV and retail media and our M&A strategy. Ever since, we've been doubling down on that strategy. And this quarter results reflect that conviction. Ever since, we've been doubling down on that strategy. And this quarter results reflect that conviction. With strong traction across all our key growth engines.

In the second quarter of 2026, we saw a massive adoption and accelerating adoption of our solution across our client base. This reflects a growing advertising trust and accelerating adoption of our solution across our client base. And our advanced AI technology outmatches continue to scale rapidly with a triple-digit and our advanced AI technology OutMatch. We also continue to expand our reach this quarter, both geographically and in the depth of our platform capabilities. We also continue to expand our reach this quarter, both geographically and in the depth of our platform capabilities. In retail media, Best Buy Canada has selected Perion as its end-to-end in-store retail media technology partner, as part of our strategy to double down on retail media and digital phone advertising. As part of our strategy, we expect those new partnerships to unlock new budgets from high-growth verticals. We expect those new partnerships to unlock new budgets from high-growth verticals. This quarter, we also added a new distribution partner to bring outmatch to Greece and to the Central and Eastern Europe.