Perficient to be acquired by EQT for ~$3B; Q1 revenue down 7% to $215M

PERFICIENT INC

Definitive agreement to be acquired by EQT affiliate for ~$3.0 billion; provides certain cash value for PRFT shareholders.
Q1 revenue $215.3M (-7% YoY); GAAP EPS $0.33 (-56%); adjusted EPS $0.77 (-26%).
Net income $11.6M (-57%); Adjusted EBITDA $36.5M (-27%).
Withdraws 2024 financial guidance and suspends updates due to pending transaction; no earnings call.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PERFICIENT INC reported for the quarter ended March 31, 2024 results: revenue $215.3 million, net income $11.6 million, EPS $0.33.

Period: for the quarter ended March 31, 2024
Revenue: $215.3 million
Net income: $11.6 million
EPS: $0.33
Result: reported results

Exact text from the filing

Revenues decreased 7% to $215.3 million from $231.4 million in the first quarter of 2023; • Net income decreased 57% to $11.6 million, compared to $26.8 million in the first quarter of 2023; • GAAP earnings per share results on a fully diluted basis decreased 56% to $0.33 from $0.75 in the first quarter of 2023;

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Source: SEC EDGAR

accession 0001085869-24-000080

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