Company: PERI
Filing Date: 2025-03-25
Form Type: 20-F
Source: 0001178913-25-001021
Chunk: 176

Company: Perion Network Ltd.
Filing Date: 2025-03-25
Form: 20-F
Item: Item 18
Chunk 176
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 costs of $3,061 during the year ended December 31, 2023, which were included in general and administrative expenses in the consolidated statements of income.
  
 Pro forma results of operations related to this acquisition have not been presented because they are not material to the Company’s consolidated statements of income.

   NOTE 6:       RESTRUCTURING COSTS AND OTHER CHARGES
 
During 2024 the company carried out a restructuring plan to adjust its operations and increase efficiency.
 
Restructuring costs for the year ended December 31, 2024 were as follows:
 
  
                                Employee        Contract       Intangible       Total   
                              termination     termination        assets                 
                                 costs                         write-off                
----------------------------------------------------------------------------------------
Cost of revenue                        $29             $26   $-                      $55
Research and development               676              17           3,385         4,078
Selling and marketing                  495              36           1,984         2,515
General and administrative             205              42           -               247
Total                               $1,405            $121   $5,369               $6,895
F - 29

PERION NETWORK LTD. AND ITS SUBSIDIARIES
 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
 U.S. dollars in thousands (except share and per share data)
 
    
NOTE   PROPERTY AND EQUIPMENT,
 7:              NET          
------------------------------

                                                    December                  
                                                      31,                     
------------------------------------------------------------------------------
                                 2024                    2023                 
Cost:                                                                         
Computers and peripheral                    $6,448                  $6,449    
equipment                                                                     
Office furniture and                         3,081                   2,407    
equipment                                                                     
Leasehold improvements                      12,586                   7,078    
Capitalized software                        12,473                  12,473    
Total cost                                  34,588                  28,407    
Less: accumulated depreciation             (25,672   )             (25,228   )
and amortization                                                              
Property and equipment,                     $8,916                  $3,179    
net                                                                           

Depreciation expenses related to the Company’s property and equipment totaled to $2,070, $1,644 and $1,954, for the years ended December 31, 2024, 2023 and 2022, respectively.

 F - 30

PERION NETWORK LTD. AND ITS SUBSIDIARIES
 NOTES TO THE CONSOLIDATED FIN