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Side-by-side financial comparison of Perion Network Ltd. (PERI) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
Zscaler, Inc. is the larger business by last-quarter revenue ($788.1M vs $368.7M, roughly 2.1× Perion Network Ltd.). Perion Network Ltd. runs the higher net margin — 2.1% vs -1.5%, a 3.6% gap on every dollar of revenue. Zscaler, Inc. produced more free cash flow last quarter ($431.0M vs $-2.9M). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% 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...
Zscaler, Inc. is an American cloud security company based in San Jose, California. The company offers cloud-based services to protect enterprise networks and data.
PERI vs ZS — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $368.7M | $788.1M |
| Net Profit | $7.7M | $-11.6M |
| Gross Margin | — | 76.6% |
| Operating Margin | 2.0% | -4.6% |
| Net Margin | 2.1% | -1.5% |
| Revenue YoY | — | 25.5% |
| Net Profit YoY | — | 3.6% |
| EPS (diluted) | — | $-0.07 |
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.
| Q4 25 | — | $788.1M | ||
| Q3 25 | $368.7M | $719.2M | ||
| Q2 25 | $266.5M | $678.0M | ||
| Q1 25 | $157.8M | $647.9M | ||
| Q4 24 | — | $628.0M | ||
| Q3 24 | $508.9M | $592.9M | ||
| Q2 24 | $323.6M | $553.2M | ||
| Q1 24 | $145.2M | $525.0M |
| Q4 25 | — | $-11.6M | ||
| Q3 25 | $7.7M | $-17.6M | ||
| Q2 25 | $5.6M | $-4.1M | ||
| Q1 25 | $11.8M | $-7.7M | ||
| Q4 24 | — | $-12.1M | ||
| Q3 24 | $78.0M | $-14.9M | ||
| Q2 24 | $45.2M | $19.1M | ||
| Q1 24 | $23.8M | $-28.5M |
| Q4 25 | — | 76.6% | ||
| Q3 25 | — | 76.1% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 77.5% | ||
| Q3 24 | — | 78.0% | ||
| Q2 24 | — | 78.6% | ||
| Q1 24 | — | 77.7% |
| Q4 25 | — | -4.6% | ||
| Q3 25 | 2.0% | -4.5% | ||
| Q2 25 | -1.7% | -3.7% | ||
| Q1 25 | 5.4% | -6.2% | ||
| Q4 24 | — | -4.9% | ||
| Q3 24 | 15.1% | -4.5% | ||
| Q2 24 | 13.7% | -0.5% | ||
| Q1 24 | 16.9% | -8.7% |
| Q4 25 | — | -1.5% | ||
| Q3 25 | 2.1% | -2.4% | ||
| Q2 25 | 2.1% | -0.6% | ||
| Q1 25 | 7.5% | -1.2% | ||
| Q4 24 | — | -1.9% | ||
| Q3 24 | 15.3% | -2.5% | ||
| Q2 24 | 14.0% | 3.5% | ||
| Q1 24 | 16.4% | -5.4% |
| Q4 25 | — | $-0.07 | ||
| Q3 25 | — | $-0.11 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | $-0.08 | ||
| Q3 24 | — | $-0.09 | ||
| Q2 24 | — | $0.12 | ||
| Q1 24 | — | $-0.19 |
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 | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $722.9M | $2.0B |
| Total Assets | $915.5M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.3B | ||
| Q3 25 | $156.2M | $2.4B | ||
| Q2 25 | $156.2M | $2.0B | ||
| Q1 25 | $156.2M | $1.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $187.6M | $1.4B | ||
| Q2 24 | $187.6M | $1.3B | ||
| Q1 24 | $187.6M | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | — | $2.0B | ||
| Q3 25 | $722.9M | $1.8B | ||
| Q2 25 | $722.9M | $1.8B | ||
| Q1 25 | $722.9M | $1.6B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $718.1M | $1.3B | ||
| Q2 24 | $718.1M | $1.1B | ||
| Q1 24 | $718.1M | $958.9M |
| Q4 25 | — | $6.5B | ||
| Q3 25 | $915.5M | $6.4B | ||
| Q2 25 | $915.5M | $5.3B | ||
| Q1 25 | $915.5M | $5.0B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | $1.1B | $4.7B | ||
| Q2 24 | $1.1B | $4.2B | ||
| Q1 24 | $1.1B | $3.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
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 | $448.3M |
| Free Cash FlowOCF − Capex | $-2.9M | $431.0M |
| FCF MarginFCF / Revenue | -0.8% | 54.7% |
| Capex IntensityCapex / Revenue | 1.5% | 2.2% |
| Cash ConversionOCF / Net Profit | 0.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $448.3M | ||
| Q3 25 | $2.6M | $250.6M | ||
| Q2 25 | — | $211.1M | ||
| Q1 25 | — | $179.4M | ||
| Q4 24 | — | $331.3M | ||
| Q3 24 | $105.2M | $203.6M | ||
| Q2 24 | — | $173.4M | ||
| Q1 24 | $17.8M | $142.1M |
| Q4 25 | — | $431.0M | ||
| Q3 25 | $-2.9M | $190.6M | ||
| Q2 25 | — | $138.9M | ||
| Q1 25 | — | $164.4M | ||
| Q4 24 | — | $314.3M | ||
| Q3 24 | $104.7M | $154.2M | ||
| Q2 24 | — | $137.8M | ||
| Q1 24 | $17.6M | $111.2M |
| Q4 25 | — | 54.7% | ||
| Q3 25 | -0.8% | 26.5% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 25.4% | ||
| Q4 24 | — | 50.1% | ||
| Q3 24 | 20.6% | 26.0% | ||
| Q2 24 | — | 24.9% | ||
| Q1 24 | 12.2% | 21.2% |
| Q4 25 | — | 2.2% | ||
| Q3 25 | 1.5% | 8.3% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 0.1% | 8.3% | ||
| Q2 24 | — | 6.4% | ||
| Q1 24 | 0.1% | 5.9% |
| Q4 25 | — | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.35× | — | ||
| Q2 24 | — | 9.07× | ||
| Q1 24 | 0.75× | — |
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% |
ZS
Segment breakdown not available.
