Company: PERI
Filing Date: 2025-03-25
Form Type: 20-F
Source: 0001178913-25-001021
Chunk: 179

Company: Perion Network Ltd.
Filing Date: 2025-03-25
Form: 20-F
Item: Item 18
Chunk 179
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 dollars in thousands (except share and per share data)
 

NOTE    LEASES
11:    (Cont.)
--------------
 
Maturities of operating lease liabilities were as follows:
 
   
           Year                              
   ending December 31,                       
---------------------------------------------
2025                               $4,275    
2026                                3,499    
2027                                2,722    
2028                                2,722    
Thereafter                         15,474    
Total                             $28,692    
lease payments *)                            
Less                               (6,390   )
– imputed interest                           
Present                           $22,302    
value of lease liabilities                   

*) Total lease payments are not offset by $5,318 of expected non-cancelable future sublease payments.
 
Facilities leasing expenses, net in the years 2024, 2023 and 2022 were $3,879, $1,993, and $2,846 respectively. Out of which, Sublease income amounted to $3,732, $3,598 and $2,533 in the years 2024, 2023 and 2022, respectively. Variable lease cost in the years 2024, 2023 and 2022 were $451, $272 and $224, respectively.
 
Cash paid for amounts included in measurement of lease liabilities during the years ended 2024, 2023 and 2022 were $8,287, $6,191, and $5,880, respectively.

  NOTE 12:     COMMITMENTS AND CONTINGENCIES
 
On April 16, 2024, a purported shareholder of the Company, filed a putative class action complaint, alleging violations of U.S. federal securities laws against, the Company and certain of its current and former officers, in the United States District Court for the Southern District of New York (the “SDNY Action”). The SDNY Action asserts claims under the Exchange Act that the defendants materially misrepresented and/or omitted facts in various public disclosures concerning the Company’s search advertising business and its partnership with Microsoft Bing. The lead plaintiffs appointed by the court, filed an amended complaint against the aforementioned defendants and one additional defendant,. On November 4, 2024, the Company filed a motion to dismiss the amended compliant, which is now fully briefed. The Company disputes the allegations of wrongdoing and intends to continue to vigorously defend against them.
 
On  April 11, 2024, a purported shareholder, filed a motion to certify a class action with the Financial Department of the