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Perion Network CEO Discusses Q2 Results - Earnings Transcript

Stocks in this article: PERI

We are pleased to report that, as a result of these efforts, June was a record revenue month for us and we see that trend continuing into the third and fourth quarters. As I have mentioned all along, building the proper fundamentals take time and discipline, but we have made significant progress over the last year, enabling us to scale the business and accelerate growth.

More exciting news for us this quarter continues to come from Smilebox as it grew revenues by 30% in the quarter and continues to be cash flow positive and profitable, with an 18% EBITDA margin this quarter. Smilebox has been exactly the acquisition we thought it would be. It has significantly enhanced our premium revenue, providing a stable, recurring, revenue stream and has helped us diversify our revenue base providing a larger profitable platform for growth.

We have also strategically positioned ourselves to address new mobile and tablet platforms. We have begun, and intend to further develop and offer, a range of iPhone, iPad, Android and Windows Mobile / Surface products over time, to answer the increasing penetration and demands of our primary target audience. We believe this is of critical importance for Perion, and one that will serve as the basis for our growth in the future, as mobile devices, and especially tablets, are an ideal platform for our products and consumers.

While we already have a few mobile products, including Smilebox mobile, we need to do more now to establish a leadership position with our audience. I am excited to announce that we expect to launch a revolutionary new email app, that for the first time will make your email enjoyable. We expect to launch for the iPad later this year. We will also be releasing major upgrades to our photo offering on mobile platforms and we look to add additional products over the coming quarters.

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