Perion is an ad tech company that helps brands and agencies run digital advertising campaigns across multiple channels. Its core product is Perion One, an AI-powered platform that manages and optimizes ad spend across Connected TV (CTV), Digital Out-of-Home (DOOH), social platforms, retail media, and the open web. At the center of Perion One is Outmax, Perion's proprietary AI execution agent, which actively allocates budgets and optimizes outcomes in real time across channels simultaneously — pitching advertisers on channel-agnostic optimization rather than optimizing within a single platform. Perion's three key growth areas are CTV (ads on streaming platforms), DOOH (programmatic ads on public digital screens, where Perion offers a full-stack solution including a proprietary operating system for digital signage networks), and Retail Media (leveraging retailers' first-party purchase data, with integrations at Albertsons, Walmart Connect, and Mastercard). Perion also has a declining Search business, which historically ran through a Microsoft Bing partnership that expired at end of 2024 and is transitioning to Yahoo. Perion's business model involves taking a margin on managed ad spend, with "contribution ex-TAC" (revenue after paying publishers for inventory) as its key profitability metric. Perion sells primarily through agencies and direct to brands, counting 52 of the Fortune 100 as customers. The company carries no debt and has a $200M share buyback program underway.