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Side-by-side financial comparison of Perion Network Ltd. (PERI) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
Skyward Specialty Insurance Group, Inc. is the larger business by last-quarter revenue ($475.9M vs $368.7M, roughly 1.3× Perion Network Ltd.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 10.5% vs 2.1%, a 8.4% gap on every dollar of revenue. Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (30.4% CAGR vs 16.4%).
Perion Network Ltd. is a publicly traded advertising technology company that provides digital advertising technology solutions to advertisers, agencies, retailers, and publishers. Its core offerings are delivered through Perion One, a unified omnichannel advertising platform designed to support campaign planning, activation, optimisation, and measurement across channels and verticals including connected television (CTV), digital out-of-home (DOOH), display, video advertising, as well as retai...
Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurance provider offering tailored coverage solutions including commercial auto, general liability, professional indemnity, and specialty property policies. It primarily serves small-to-medium enterprises and niche industry segments across the United States, focusing on underwriting complex, hard-to-place risks for underserved client groups.
PERI vs SKWD — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $368.7M | $475.9M |
| Net Profit | $7.7M | $49.7M |
| Gross Margin | — | — |
| Operating Margin | 2.0% | 14.9% |
| Net Margin | 2.1% | 10.5% |
| Revenue YoY | — | 44.8% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $1.09 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $475.9M | ||
| Q4 25 | — | $385.6M | ||
| Q3 25 | $368.7M | $382.5M | ||
| Q2 25 | $266.5M | $319.9M | ||
| Q1 25 | $157.8M | $328.5M | ||
| Q4 24 | — | $304.4M | ||
| Q3 24 | $508.9M | $300.9M | ||
| Q2 24 | $323.6M | $279.9M |
| Q1 26 | — | $49.7M | ||
| Q4 25 | — | $43.2M | ||
| Q3 25 | $7.7M | $45.9M | ||
| Q2 25 | $5.6M | $38.8M | ||
| Q1 25 | $11.8M | $42.1M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | $78.0M | $36.7M | ||
| Q2 24 | $45.2M | $31.0M |
| Q1 26 | — | 14.9% | ||
| Q4 25 | — | 14.2% | ||
| Q3 25 | 2.0% | 15.8% | ||
| Q2 25 | -1.7% | 15.6% | ||
| Q1 25 | 5.4% | 15.7% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | 15.1% | 15.6% | ||
| Q2 24 | 13.7% | 14.4% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | — | 11.2% | ||
| Q3 25 | 2.1% | 12.0% | ||
| Q2 25 | 2.1% | 12.1% | ||
| Q1 25 | 7.5% | 12.8% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | 15.3% | 12.2% | ||
| Q2 24 | 14.0% | 11.1% |
| Q1 26 | — | $1.09 | ||
| Q4 25 | — | $1.03 | ||
| Q3 25 | — | $1.10 | ||
| Q2 25 | — | $0.93 | ||
| Q1 25 | — | $1.01 | ||
| Q4 24 | — | $0.33 | ||
| Q3 24 | — | $0.89 | ||
| Q2 24 | — | $0.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $156.2M | $4.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $722.9M | $1.2B |
| Total Assets | $915.5M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.1M | ||
| Q4 25 | — | $168.5M | ||
| Q3 25 | $156.2M | $160.1M | ||
| Q2 25 | $156.2M | $136.6M | ||
| Q1 25 | $156.2M | $112.9M | ||
| Q4 24 | — | $121.6M | ||
| Q3 24 | $187.6M | $105.6M | ||
| Q2 24 | $187.6M | $73.0M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | $722.9M | $961.4M | ||
| Q2 25 | $722.9M | $899.9M | ||
| Q1 25 | $722.9M | $850.7M | ||
| Q4 24 | — | $794.0M | ||
| Q3 24 | $718.1M | $797.5M | ||
| Q2 24 | $718.1M | $723.6M |
| Q1 26 | — | $6.5B | ||
| Q4 25 | — | $4.8B | ||
| Q3 25 | $915.5M | $4.6B | ||
| Q2 25 | $915.5M | $4.3B | ||
| Q1 25 | $915.5M | $4.0B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $1.1B | $3.6B | ||
| Q2 24 | $1.1B | $3.4B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.6M | — |
| Free Cash FlowOCF − Capex | $-2.9M | — |
| FCF MarginFCF / Revenue | -0.8% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 0.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $408.1M | ||
| Q3 25 | $2.6M | $171.4M | ||
| Q2 25 | — | $88.2M | ||
| Q1 25 | — | $96.8M | ||
| Q4 24 | — | $305.1M | ||
| Q3 24 | $105.2M | $168.0M | ||
| Q2 24 | — | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $402.6M | ||
| Q3 25 | $-2.9M | $168.9M | ||
| Q2 25 | — | $87.1M | ||
| Q1 25 | — | $96.6M | ||
| Q4 24 | — | $300.9M | ||
| Q3 24 | $104.7M | $167.6M | ||
| Q2 24 | — | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 104.4% | ||
| Q3 25 | -0.8% | 44.2% | ||
| Q2 25 | — | 27.2% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | 20.6% | 55.7% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.4% | ||
| Q3 25 | 1.5% | 0.6% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | — | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.44× | ||
| Q3 25 | 0.34× | 3.73× | ||
| Q2 25 | — | 2.27× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 21.18× | ||
| Q3 24 | 1.35× | 4.58× | ||
| Q2 24 | — | 0.68× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PERI
| Advertising Solutions | $231.4M | 63% |
| Search Advertising | $137.3M | 37% |
SKWD
Segment breakdown not available.
