Perion Network Unifies AI-Driven Strategy with Double-Digit CTV Growth and $200M Buyback
Perion Network reported double-digit growth in CTV, digital out-of-home and retail media in Q4 2025 as it unified technology and operations under its Perion One AI-driven strategy. Management set 2028 targets of 25% pro forma spend CAGR and 28% EBITDA margin, backed by $313M liquidity and $200M share repurchase.
1. Strategic Transformation
Perion branded 2025 as Year 1 of Perion One, merging its technology stack, organizational structure and mission into an AI-driven, cross-channel execution model. Outmax was positioned above traditional DSPs to dynamically optimize ad spend across platforms using real-time signals.
2. Q4 2025 Operating Results
The company achieved double-digit revenue growth in CTV, digital out-of-home and retail media channels, outpacing industry averages. Management attributed margin expansion to disciplined cost controls and the decoupling of expenses from revenue growth.
3. Future Outlook and 2028 Goals
Guidance for 2026 anticipates Perion One representing 85% to 90% of contribution ex-TAC as legacy search revenues wane. The 2028 plan targets a pro forma spend CAGR of at least 25% and adjusted EBITDA margins of 28% of contribution ex-TAC.
4. Financial Strength and Capital Deployment
Perion ended 2025 with $313 million in cash and equivalents, supporting a $200 million share repurchase initiative. Capital priorities include organic AI investment, go-to-market expansion and targeted M&A to accelerate Perion One adoption.