Operator

Hello, everybody, and welcome to the Perion network First Quarter 2026 Earnings Conference Call. Today's conference call is being recorded, and 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 heading 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, performances 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 on a non-GAAP measure.

Whilst mentioning EBITDA, we will be referring to adjusted EBITDA. We have provided a detailed reconciliation of non-GAAP measures to their comparable GAAP measures in our earnings release, which will be available on our website and has also been filed on Form