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EX - 99.1 2 prfpressrelease_q32021.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 THIRD QUARTER 2021 RESULTS ~ Revenues Up 22 % ; Company Raises Full Year Revenue and Updates Earnings Guidance ~ ST . LOUIS ( October 28 , 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 September 30 , 2021 . Financial Highlights For the quarter ended September 30 , 2021 : • • • • Revenues increased 22 % to $ 192.8 million from $ 157.7 million in the third quarter of 2020 ; Net income increased 182 % to $ 17.4 million from $ 6.2 million in the third quarter of 2020 , reflecting , among other things , higher revenues , higher gross margin , lower selling , general and administrative expenses as a percentage of revenue , lower amortization expense , lower loss on extinguishment of debt , and lower adjustments to fair value of contingent consideration ; GAAP earnings per share results on a fully diluted basis increased 153 % to $ 0.48 from $ 0.19 in the third 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 31 % to $ 0.88 from $ 0.67 in the third quarter of 2020 ; and Adjusted EBITDA ( a non - GAAP measure ; see attached schedule , which reconciles to GAAP net income ) increased 33 % to $ 41.5 million from $ 31.1 million in the third quarter of 2020 . " Perficient's strong 2021 momentum continued in the third quarter and we expect additional strength during the fourth quarter as we close out the most robust year of growth in our history , " said Jeffrey Davis , chairman and CEO . " The third quarter acquisition of Talos Digital , coupled with the recent addition of Overactive , added more than 800 talented developers , designers and digital innovators to our nearshore teams and further established Perficient as a truly global , next - generation service provider for the world's leading enterprises and biggest brands . " Other Highlights Among other recent achievements , Perficient : • • • Further enhanced its nearshore capabilities and capacity with the acquisitions of South American - based firms Overactive , an approximately $ 40 million annual revenue nearshore software development firm , and Talos Digital , a $ 10 million annual revenue commerce solution provider . Combined , these acquisitions expanded Perficient's global presence in South America across Uruguay , Colombia , Argentina , and Chile ; Launched two training bootcamps in Detroit and Lafayette , Louisiana , as part of Perficient Bright Paths , a program designed to advance STEM education and career opportunities for underrepresented constituencies and communities ; Was recognized by Modern Healthcare as one of the 10 largest healthcare management consulting firms ; Earned the Google Cloud Infrastructure Specialization , the highest technical designation a Google Cloud partner can earn , for demonstrating a deep level of expertise and customer impact with the Google Cloud Platform ; Was named in the " Forrester Now Tech : Global Digital Experience Services , Q4 2021 " report as a recognized Global Digital Experience Service Provider that can define , design , build , and manage digital marketing , commerce , and customer experiences in the context of business transformation ; and Announced that Perficient Latin America was named a Best Agile Place to Work global finalist by the World Agility Forum .