PERI +.45 to 11.32, what about the Microsoft deal that expires on 12/31/24 ? Are you confident it will be renewed or is it too far out to be concerned at this point ? In any case with the Microsoft pricing cuts, it represents a lower percentage of total revenues.
20F -
We are highly dependent on our search services agreement with Microsoft Irelands Operations Limited. (“Microsoft”). We entered into our first agreement with Microsoft in 2010. In November 2020, we entered into a renewed agreement with Microsoft effective as of January 1, 2021 and in effect until December 31, 2024 (the “Microsoft Agreement”). In 2022, our search advertising business Unit, CodeFuel, was named by Microsoft Advertising the “Global Supply Partner of the Year”. The Microsoft Agreement accounted for 37%, 35% and 34% of our revenue, in 2021, 2022 and 2023, respectively.
