Operator: 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 harbor statement. Today's discussion includes forward-looking statements.
These statements reflect the company's current views with respect to future events. These forward-looking statements involve known and unknown risks, uncertainties and other factors, including those discussed under the headings Risk Factors and elsewhere in the company's annual report on Form 20-F that may cause actual results, performances or achievements to be materially different and any future results, performance or achievements anticipated or implied by these forward-looking statements. The company does not undertake to update any forward-looking statements to reflect future events or circumstances.
As in prior quarters, the results reported today will be analyzed both on a GAAP and a non-GAAP basis. While mentioning EBITDA, we will be referring to adjusted EBITDA. We have provided a detailed reconciliation of non-GAAP measures and their comparable GAAP measures in our earnings release, which is available on our website and has also been filed on Form 6-K.
Hosting the call today are Tal Jacobson, Perion's Chief Executive Officer; and Elad Tzubery, Perion's Chief Financial Officer. I would now like to turn the call over to Tal Jacobson. Tal Jacobson: Good morning, and thank you for joining us on Perion's Earnings Call for the second quarter of 2026.
Nearly 2 years ago, we made a deliberate decision to diversify Perion away from the open web. We quickly adapted to the demands of the marketplace ahead of the budget shift the industry is experiencing today. This diversification was driven by both our organic investment in CTV and Retail Media and our M&A strategy from Hivestack in Digital Out of Home to Greenbids and the Outmax AI agent.
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