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EX - 99.1 2 prfpressrelease_q22021.htm PERFICIENT , INC . PRESS RELEASE EXHIBIT 99.1 For more information , please contact : Bill Davis , Perficient , 314-529-3555 bill.davis@perficient.com PERFICIENT REPORTS SECOND QUARTER 2021 RESULTS ~ Revenues Up 26 % ; Company Raises Full Year Revenue and Earnings Guidance ~ ST . LOUIS ( July 29 , 2021 ) - Perficient , Inc. ( Nasdaq : PRFT ) ( " Perficient " ) , the leading global digital consultancy transforming the world's largest enterprises and biggest brands , today reported its financial results for the quarter ended June 30 , 2021 . Financial Highlights For the quarter ended June 30 , 2021 : • • • Revenues increased 26 % to $ 184.1 million from $ 146.3 million in the second quarter of 2020 ; Net income increased 151 % to $ 16.6 million from $ 6.6 million in the second quarter of 2020 , reflecting , among other things , higher gross margin , lower selling , general and administrative expenses as a percentage of revenue , lower acquisition costs , and lower adjustments to fair value of contingent consideration ; GAAP earnings per share results on a fully diluted basis increased 145 % to $ 0.49 from $ 0.20 in the second quarter of 2020 , primarily as a result of the increase in net income discussed above ; Adjusted earnings per share results ( a non - GAAP measure ; see attached schedule , which reconciles to GAAP earnings per share ) on a fully diluted basis increased 47 % to $ 0.84 from $ 0.57 in the second quarter of 2020 ; and Adjusted EBITDA ( a non - GAAP measure ; see attached schedule , which reconciles to GAAP net income ) increased 48 % to $ 39.0 million from $ 26.4 million in the second quarter of 2020 . " Perficient's strong second quarter performance again underscores that the world's largest enterprises and biggest brands are gravitating toward our differentiated approach and embracing our flexible and compelling delivery model which blends global efficiency with high - touch , strategic leadership and project management , ” said Jeffrey Davis , chairman and CEO . " We're taking share , adding new customers , expanding existing relationships and building our company faster than ever before . " Other Highlights Among other recent achievements , Perficient : • Grew offshore revenue organically 75 % during the quarter - with total offshore revenue growth up 124 % ; Was named the 2021 Americas recipient of Sitecore's Partner Award for Excellence in Solution Delivery , as well as an Optimizely Premier Platinum partner - one of just three partners in North America with this distinction , and a global finalist for the Microsoft Healthcare Partner of the Year award ; Announced the graduation of 22 women from the inaugural Perficient Bright Paths Program , a majority of whom are working at Perficient in the software development and engineering field ; Was included in " The Gartner Digital Commerce Vendor Guide , 2021 " as a digital commerce service provider offering multiple digital commerce implementation services , and in the “ Gartner Report : Vendor Rating for Salesforce " as a key partner for manufacturing cloud ; and Received 2021 best workplace distinctions in St. Louis , Chicago , Atlanta , Southern California , and Minnesota . Business Outlook The following statements are based on current expectations . These statements are forward - looking and actual results may differ materially . See " Safe Harbor Statement " below . Perficient expects its third quarter 2021 revenue to be in the range of $ 186 million to $ 191 million . Third quarter GAAP earnings per share is expected to be in the range of $ 0.49 to $ 0.52 . Third quarter adjusted earnings per share ( a non - GAAP measure ; see attached schedule which reconciles to GAAP earnings per share guidance ) is expected to be in the range of $ 0.83 to $ 0.86 .