Latest news with #YouCam
Yahoo
23-05-2025
- Business
- Yahoo
Available Now - Perfect Corp. Debuts New GenAI Clothes Virtual Try-On for Brand and Retailer Websites, Apps and API
Photorealistic, head-to-toe outfit swaps in seconds boost shopper confidence and drive online conversion NEW YORK, May 23, 2025--(BUSINESS WIRE)--Perfect Corp. (NYSE: PERF), the global leader in AI and AR beauty and fashion technology and creator of the billion-download YouCam app suite, has announced the launch of AI Clothes Try-on, a next generation of Generative AI-powered experience that reimagines virtual fashion shopping. With just one photo, consumers can now explore endless outfit possibilities by virtually try on entire outfits collection, variant fabrics, and colors in seconds. Styling uncertainty is one of the biggest obstacles to completing fashion purchases online. Perfect Corp.'s new AI Clothes Try-On eliminates that hesitation by letting shoppers see exactly how any look complements their unique body shape, complexion and style instantly boosting confidence and driving higher conversion for brands and retailers. Powered by industry-leading generative-AI models fine-tuned for apparel visualization, the solution lets users seamlessly mix and match separates pieces, preview full outfit swaps, and experiment with bold fabrics, prints and colorways, all rendered in photorealistic detail. Seamless Access Across Mobile, Web, and API AI Clothes Try-on is available through both the YouCam Makeup mobile app and the YouCam Online Editor, Perfect Corp.'s web-based editing platform. giving users the flexibility to explore styles from any device. For brands and developers, the solution is also accessible through the YouCam Online Editor AI Clothes Try-on API, making it easy to bring AI-powered try-on to any digital experience. Scalable AI Clothes and Fabric Try-On Built for Fashion e-Commerce & Retailer Perfect Corp.'s AI Clothes Try-on API enables fashion brands to deliver high-impact, personalized digital experiences at scale. Optimized for real-world performance across global markets, the solution goes beyond basic product visualization to support interactive try-on features that enhance styling assistants, campaign content, or user-generated previews. The flexible API integrates seamlessly into websites, mobile apps, and digital storefronts, making it easy to deploy and scale across product categories and regions. Faster deployment, no 3D modeling required. Generate high-quality outfit try-ons from flat images using a single photo input—accelerating time-to-market and reducing production costs. Fit simulation that adapts to every shopper. Our AI engine intelligently adjusts to diverse body types, providing consistent and inclusive visuals that support confident decision-making across your customer base. High-fidelity fabric and texture rendering. Accurately visualize how garments look and feel, from subtle sheens to bold patterns, enhancing product clarity and reducing return rates. Transforming Fashion Engagement with Real-Time AI at Real-World Scale "With AI Clothes Try-on feature, we're not just visualizing clothes, we're rethinking how people connect with style," said Alice Chang, CEO and Founder of Perfect Corp. "It gives users the freedom and power to explore, customize, and express their fashion choices instantly. For brands and retailers, it's a smarter way to deliver personalization at scale, where inspiration becomes interaction in just one click." Learn more about Perfect Corp's AI Clothes Try-on: AI Clothes Try-on API: YouCam Online Editor: YouCam Makeup App: About Perfect Corp. Founded in 2015, Perfect Corp. (NYSE: PERF) is on a mission to make beauty smarter, more personalized, and more fun through Beautiful AI. As a global leader in AI and AR-powered beauty and fashion technology, we help brands and consumers connect through immersive, interactive digital experiences. With cutting-edge AI solutions, Perfect Corp. powers iconic virtual try-ons across makeup, hairstyles, eyewear, jewelry, watches, and fashion accessories, along with advanced AI-driven analyzers for skin and hair that provide real-time insights for personalized recommendations. Our generative AI tools take creativity to the next level, offering photo and video editing, AI content generation, and personalized beauty experiences. Trusted by over 705 global brands and 1.1 billion YouCam app downloads, we make beauty, fashion, and skincare more accessible, engaging, and intuitive than ever before. View source version on Contacts Press Contacts Perfect Corp. official website: Perfect Corp. on LinkedIn: Perfect Corp. official Blog: Corporate: Tony Tsai at press@ or by phone: +886-2-8667-1265, ext. 2167USA: Allie Murphy at contact_pr@ or by phone +1 (415) 625-8555Japan: Kazushige Sato at contact_pr_jpn@ or by phone: +81-3-6809-1135China: Winter Zhang at Winter_zhang@ or by phone: +86-166-2139-1855Europe: Pauline Griffon at contact_pr_fr@ UAE: Marwa Mohamed at contact_pr_uae@ or by phone: +971 (0) 50-728-4178India: Taunj Mishra at contact_pr_in@ Indonesia: Efon Dea at contact_pr_id@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
23-05-2025
- Business
- Business Wire
Available Now - Perfect Corp. Debuts New GenAI Clothes Virtual Try-On for Brand and Retailer Websites, Apps and API
NEW YORK--(BUSINESS WIRE)-- Perfect Corp. (NYSE: PERF), the global leader in AI and AR beauty and fashion technology and creator of the billion-download YouCam app suite, has announced the launch of AI Clothes Try-on, a next generation of Generative AI-powered experience that reimagines virtual fashion shopping. With just one photo, consumers can now explore endless outfit possibilities by virtually try on entire outfits collection, variant fabrics, and colors in seconds. Styling uncertainty is one of the biggest obstacles to completing fashion purchases online. Perfect Corp.'s new AI Clothes Try-On eliminates that hesitation by letting shoppers see exactly how any look complements their unique body shape, complexion and style instantly boosting confidence and driving higher conversion for brands and retailers. Powered by industry-leading generative-AI models fine-tuned for apparel visualization, the solution lets users seamlessly mix and match separates pieces, preview full outfit swaps, and experiment with bold fabrics, prints and colorways, all rendered in photorealistic detail. Seamless Access Across Mobile, Web, and API AI Clothes Try-on is available through both the YouCam Makeup mobile app and the YouCam Online Editor, Perfect Corp.'s web-based editing platform. giving users the flexibility to explore styles from any device. For brands and developers, the solution is also accessible through the YouCam Online Editor AI Clothes Try-on API, making it easy to bring AI-powered try-on to any digital experience. Scalable AI Clothes and Fabric Try-On Built for Fashion e-Commerce & Retailer Perfect Corp.'s AI Clothes Try-on API enables fashion brands to deliver high-impact, personalized digital experiences at scale. Optimized for real-world performance across global markets, the solution goes beyond basic product visualization to support interactive try-on features that enhance styling assistants, campaign content, or user-generated previews. The flexible API integrates seamlessly into websites, mobile apps, and digital storefronts, making it easy to deploy and scale across product categories and regions. Faster deployment, no 3D modeling required. Generate high-quality outfit try-ons from flat images using a single photo input—accelerating time-to-market and reducing production costs. Fit simulation that adapts to every shopper. Our AI engine intelligently adjusts to diverse body types, providing consistent and inclusive visuals that support confident decision-making across your customer base. High-fidelity fabric and texture rendering. Accurately visualize how garments look and feel, from subtle sheens to bold patterns, enhancing product clarity and reducing return rates. Transforming Fashion Engagement with Real-Time AI at Real-World Scale 'With AI Clothes Try-on feature, we're not just visualizing clothes, we're rethinking how people connect with style,' said Alice Chang, CEO and Founder of Perfect Corp. 'It gives users the freedom and power to explore, customize, and express their fashion choices instantly. For brands and retailers, it's a smarter way to deliver personalization at scale, where inspiration becomes interaction in just one click.' Learn more about Perfect Corp's AI Clothes Try-on: About Perfect Corp. Founded in 2015, Perfect Corp. (NYSE: PERF) is on a mission to make beauty smarter, more personalized, and more fun through Beautiful AI. As a global leader in AI and AR-powered beauty and fashion technology, we help brands and consumers connect through immersive, interactive digital experiences. With cutting-edge AI solutions, Perfect Corp. powers iconic virtual try-ons across makeup, hairstyles, eyewear, jewelry, watches, and fashion accessories, along with advanced AI-driven analyzers for skin and hair that provide real-time insights for personalized recommendations. Our generative AI tools take creativity to the next level, offering photo and video editing, AI content generation, and personalized beauty experiences. Trusted by over 705 global brands and 1.1 billion YouCam app downloads, we make beauty, fashion, and skincare more accessible, engaging, and intuitive than ever before.
Business Wire
16-05-2025
- Business
- Business Wire
Perfect Corp. Launches YouCam AI Chat: Your All-in-One AI Assistant in the Palm of Your Hand
NEW YORK--(BUSINESS WIRE)-- Perfect Corp. (NYSE: PERF), the global leader in AI and AR beauty and fashion technology and creator of the billion-download YouCam app suite, introduces YouCam AI Chat, a new AI-powered assistant built to help users create, plan, learn, and stay inspired through smart, intuitive conversations. Powered by leading multi-model AI technology including GPT-4.1, GPT-4o, GPT-4o mini, and DeepSeek R1, YouCam AI Chat delivers a personalized and responsive experience across a wide range of everyday tasks. Whether users are writing, designing, researching, or organizing their lives, the platform offers an easy-to-use interface that makes powerful AI tools accessible. Core Features That Make AI Easy and Useful YouCam AI Chat offers an experience where intelligence meets usability. With no steep learning curve, users can access a complete AI toolkit from the very first tap. Effortless Image Generation transforms text into impactful visuals using smart prompt optimization. Even first-time users can create high-quality images with ease. Predefined Tasks streamline common workflows such as content writing, idea planning, and creative brainstorming. Each task is optimized for fast, high-quality results. Pre-set Roles provide specialized support across fitness, beauty, dating, wellness, and more. Each AI persona delivers focused insights and personalized recommendations tailored to the moment. Daily Hits delivers a personalized feed of timely inspiration. From trending topics and news to market updates, users stay informed and inspired in real time. Ready-to-Use Powerful Tools That Simplify Your Daily Workflow Beyond conversation, YouCam AI Chat includes ready-to-use tools that make everyday tasks simpler, faster, and more creative. AI Image Generator allows users to visualize ideas in seconds by turning text prompts into expressive, shareable images. Photo Summarizer uses image analysis to generate fast and focused summaries, streamlining content review and interpretation. Document Master accelerates productivity with AI-powered tools for summarizing, rewriting, or translating PDF, DOC, and TXT files. AI Real-time Search provides up-to-date answers with reference links, allowing users to explore topics with accuracy and depth. Web Summarizer quickly extracts key takeaways from any webpage, making research and information gathering more efficient. YouTube Video Summarizer condenses lengthy videos into clear, digestible insights, ideal for research, content planning, or learning. Designed for Everyone. Powered by Industry-Leading AI 'YouCam AI Chat is built for everyone—from beginners to power users,' said Alice Chang, Founder and CEO of Perfect Corp. 'By combining our industry-leading AI technology with real-life use cases, we've created a fast, visual, and intuitive experience that truly meets users where they are. Whether you're looking for inspiration or ready to take action, it's all one chat away.' YouCam AI Chat is available for download on iOS now: About Perfect Corp. Founded in 2015, Perfect Corp. (NYSE: PERF) is on a mission to make beauty smarter, more personalized, and more fun through Beautiful AI. As a global leader in AI and AR-powered beauty and fashion technology, we help brands and consumers connect through immersive, interactive digital experiences. With cutting-edge AI solutions, Perfect Corp. powers iconic virtual try-ons across makeup, hairstyles, eyewear, jewelry, watches, and fashion accessories, along with advanced AI-driven analyzers for skin and hair that provide real-time insights for personalized recommendations. Our generative AI tools take creativity to the next level, offering photo and video editing, AI content generation, and personalized beauty experiences. Trusted by over 705 global brands and 1.1 billion YouCam app downloads, we make beauty, fashion, and skincare more accessible, engaging, and intuitive than ever before.
Associated Press
26-02-2025
- Business
- Associated Press
Perfect Corp. Reports Unaudited Financial Results for the Three Months and Full Year Ended December 31, 2024
Perfect Corp. (NYSE: PERF) ('Perfect' or the 'Company'), a global leader in providing artificial intelligence ('AI') and augmented reality ('AR') Software-as-a-Service ('SaaS') solutions to beauty and fashion industries, today announced its unaudited financial results for the three months and the full year ended December 31, 2024. Highlights for the Three Months Ended December 31, 2024 Total revenue was $15.9 million for the three months ended December 31, 2024, compared to $14.1 million in the same period of 2023, an increase of 12.4%. The increase was primarily due to growth momentum in the revenue of AI- and AR- cloud solutions and mobile app subscriptions. Gross profit was $11.8 million for the three months ended December 31, 2024, compared with $11.5 million in the same period of 2023, an increase of 2.5%. Net income was $1.1 million for the three months ended December 31, 2024, compared to a net income of $1.4 million during the same period of 2023, a decrease of 21.8%. Adjusted net income (non-IFRS) 1 was $2.3 million for the three months ended December 31, 2024, compared to adjusted net income (non-IFRS) of $2.1 million in the same period of 2023, an increase of 8.2%. Operating cash flow was $3.3 million in the fourth quarter of 2024, compared to $3.1 million in the same period of 2023, an increase of 3.4%. The Company's YouCam mobile beauty app and web active subscribers grew by 14.3% year-over-year, reaching a record high of over 1 million active subscribers as of end of 2024. As of December 31, 2024, the Company's cumulative customer base included 732 brand clients, with over 822,000 digital stock keeping units ('SKUs') for makeup, haircare, skincare, eyewear, watches and jewelry products, compared to 708 brand clients and over 806,000 digital SKUs as of September 30, 2024. The number of Key Customers 2 of the Company remained stable at 151, as of both December 31, 2024, compared and September 30, 2024 due to the stability of our enterprise business. Highlights for the Year Ended December 31, 2024 Total revenue was $60.2 million for the year ended December 31, 2024, compared to $53.5 million in the same period of 2023, an increase of 12.5%. Gross profit was $46.9 million for the year ended December 31, 2024, compared with $43.1 million in the same period of 2023, an increase of 8.9%. Net income was $5.0 million for the year ended December 31, 2024, compared to a net income of $5.4 million during the same period of 2023, a decrease of 7.3%. Adjusted net income (non-IFRS) was $8.3 million for the year ended December 31, 2024, compared to adjusted net income (non-IFRS) of $7.0 million in the same period of 2023, an increase of 18.6%. Operating cash flow was $13.0 million for the year ended December 31, 2024, compared to $13.6 million in the same period of 2023, a decrease of 4.2%. Ms. Alice H. Chang, the Founder, Chairwoman, and Chief Executive Officer of Perfect commented, 'We are pleased to report solid double-digit growth, positive net income, healthy cash flow, and a strong balance sheet for 2024, fully meeting our previous guidance. This remarkable performance is a testament to our team's resilience and the visionary leadership of our management. By capitalizing on market opportunities and expanding our total addressable market, we are not only attracting new clients but also laying the foundation for sustained long-term growth. Our commitment to innovation ensures that we will continue to deliver cutting-edge solutions that meet evolving market demands. With a comprehensive strategy in place, we are excited about the future and confident in our ability to create ongoing value for all our stakeholders.' Financial Results for the Three Months Ended December 31, 2024 and for the Full Year 2024 Revenue Total revenue was $15.9 million for the three months ended December 31, 2024, compared to $14.1 million in the same period of 2023, an increase of 12.4%. Full-year revenue was $60.2 million in 2024, compared to $53.5 million in 2023, an increase of 12.5%. AI- and AR- cloud solutions and subscription revenue was $15.1 million for the three months ended December 31, 2024, compared to $12.0 million in the same period of 2023, an increase of 25.4%. Full-year AI- and AR- cloud solutions and subscription revenue was $53.8 million in 2024, compared with $44.8 million in 2023, an increase of 20.2%. The double digit growth was driven by the robust momentum in the growth of YouCam mobile beauty app subscription, stable demand for the Company's online virtual product try-on solutions from brand customers, and the growing popularity among consumers of Generative AI technologies and AI editing features for photos and videos. The Company's YouCam mobile beauty app and web active subscribers grew by 14.3% year-over-year, once again reaching a record high of over 1 million active subscribers as of the end of the fourth quarter of 2024. This increase reflected the sustained demand in the Company's YouCam mobile beauty app services from subscribers and users. Licensing revenue was $0.5 million for the three months ended December 31, 2024, compared to $1.8 million in the same period of 2023, a decrease of 72.2%. Full year licensing revenue was $5.2 million for 2024, compared with $7.5 million for 2023, a decrease of 30.8%. The Company anticipates that this legacy non-recurring revenue will become increasingly immaterial as it continues to prioritize enhancing its market leadership in offering AI- and AR-based SaaS subscription solutions for brands and customers. Gross Profit Gross profit was $11.8 million for the three months ended December 31, 2024, compared with $11.5 million in the same period of 2023, an increase of 2.5%. Despite the increase in gross profit, our gross margin decreased to 74.1% for the three months ended December 31, 2024, from 81.3% in the same period of 2023. Full-year gross profit was $46.9 million in 2024, compared with $43.1 million in 2023, an increase of 8.9%. Full-year 2024 gross margin slightly decreased to 78.0% in 2024 from 80.6% in 2023. The decrease in gross margin was primarily due to the increase in third-party payment processing fees paid to digital distribution partners, such as Google and Apple, due to the steady growth in our YouCam mobile app subscription revenue. Total Operating Expenses Total operating expenses were $12.2 million for the three months ended December 31, 2024, compared with $12.7 million in the same period of 2023, a decrease of 3.6%. The decrease was primarily due to declines in research and development ('R&D') expenses and general and administrative ('G&A') expenses in the fourth quarter of 2024. Full-year total operating expenses were $50.1 million in 2024, compared with $48.8 million in 2023, an increase of 2.7%. The increase was primarily due to increases in sales and marketing expenses and R&D expenses, which were mostly offset by a decrease in general and administrative expenses. Sales and marketing expenses were $6.9 million for the three months ended December 31, 2024, compared to $6.7 million during the same period of 2023, an increase of 3.6%. Full-year sales and marketing expenses were $28.2 million for 2024, compared to $25.7 million in 2023, an increase of 9.7%. This increase was primarily due to an increase in marketing events and advertising expenses related to our mobile apps and cloud computing Research and development expenses were $2.8 million for the three months ended December 31, 2024, compared to $3.0 million during the same period of 2023, a decrease of 8.3%. The decrease primarily resulted from streamlining of certain R&D processes and optimizing expenses. Full-year R&D expenses were $12.0 million for 2024, compared to $11.5 million in 2023, an increase of 4.7%. The increases resulted from increases in R&D headcount and related personnel costs. General and administrative expenses were $1.8 million for the three months ended December 31, 2024, compared to $3.0 million during the same period of 2023, a significant decrease of 41.0%. Full-year G&A expenses were $8.5 million for 2024, compared to $11.6 million in 2023, a decrease of 26.6%. The significant decrease was primarily due to reduced corporate insurance premium and external professional service fees. Net Income Net income was $1.1 million for the three months ended December 31, 2024, compared to a $1.4 million during the same period of 2023. Full-year net income was $5.0 million for 2024, compared to $5.4 million for 2023. The positive net income was supported by our steady revenue growth and effective cost control. Adjusted Net Income (Non-IFRS) Adjusted net income was $2.3 million for the three months ended December 31, 2024, compared to $2.1 million in the same period of 2023, an increase of 8.2%. Full-year adjusted net income was $8.3 million for 2024, compared to $7.0 million for 2023. Liquidity and Capital Resource As of December 31, 2024, the Company's cash and cash equivalents remained stable at $127.1 million (or $165.9 million when including money market funds of $2.7 million and 6-month time deposits of $36.0 million, which are classified as current financial assets at fair value through profit or loss and current financial assets at amortized cost under IFRS), compared to $127.2 million as of September 30, 2024 (or $163.2 million when including time deposits). The Company had a positive operating cash flow of $3.3 million in the fourth quarter of 2024, compared to $3.1 million in the same period of 2023. The Company had a positive operating cash flow of $13.0 million in the full year of 2024, compared to $13.6 million in 2023. The Company continues to invest in growth while maintaining a healthy cash reserve to support business operations underscoring the Company's operational health and sustainability. Recent Developments As previously announced by the Company, on December 23, 2024, Perfect entered into an agreement with Farfetch, a leading global marketplace for the luxury fashion industry, pursuant to which Perfect agreed to acquire 100% of the equity interests in Wannaby Inc. ('Wannaby'), which is a pioneer in augmented reality and computer vision technologies, specializing in virtual try-on solutions for the fashion industry. On January 8, 2025, Perfect completed the acquisition Wannaby. Wannaby is now a wholly-owned subsidiary of Perfect. Business Outlook for 2025 Based on the growth momentum in both YouCam mobile apps and web subscriptions and enterprise SaaS solution demands, the Company anticipates a year-over-year total revenue growth rate of 13% to 14.5% for 2025, compared to 2024. Note that this forecast is based on the Company's current assessment of the market and operational conditions, and that these factors are subject to change. Conference Call Information The Company's management will hold an earnings conference call at 7:30 p.m. Eastern Time on February 26, 2025 (7:30 a.m. Taipei Time on February 27, 2025) to discuss the financial results. For participants who wish to join the call, please complete online registration using the link provided below in advance of the conference call. Upon registering, each participant will receive a participant dial-in number and a unique access PIN, which can be used to join the conference call. A live and archived webcast of the conference call will also be available at the Company's investor relations website at About Perfect Corp. Founded in 2015, Perfect Corp. is a beautiful AI Company and global leader in enterprise SaaS solutions. As an innovative powerhouse in using artificial intelligence (AI) to transform the beauty and fashion industries, Perfect empowers major beauty, skincare, fashion, jewelry, and watch brands and by providing consumers with omnichannel shopping experiences through augmented reality (AR) product try-ons and AI-powered skin diagnostics. With cutting-edge technologies such as Generative AI, real-time facial and hand 3D AR rendering and cloud solutions, Perfect enables personalized, enjoyable, and engaging shopping journey. In addition, Perfect also operates a family of YouCam consumer apps for photo, video and camera users, centered on unleashing creativity with AI-driven features for creation, beautification and enhancement. With the help of technologies, Perfect helps brands elevate customer engagement, increase conversion rates, and propel sales growth. Throughout this journey, Perfect maintains its unwavering commitment to environmental sustainability and fulfilling social responsibilities. For more information, visit Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, or the Exchange Act, that are based on beliefs and assumptions and on information currently available to Perfect. In some cases, you can identify forward-looking statements by the following words: 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'ongoing,' 'target,' 'seek' or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These statements are based on Perfect's reasonable expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Perfect's control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Perfect to predict these events or how they may affect Perfect. In addition, risks and uncertainties are described in Perfect's filings with the Securities and Exchange Commission. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Perfect cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that Perfect presently does not know or that Perfect currently does not believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Perfect, its directors, officers or employees or any other person that Perfect will achieve its objectives and plans in any specified time frame, or at all. Except as required by applicable law, Perfect does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date of this communication. You should, therefore, not rely on these forward-looking statements as representing the views of Perfect as of any date subsequent to the date of this communication. Use of Non-IFRS Financial Measures This press release and accompanying tables contain certain non-IFRS financial measures, including adjusted net income, as supplemental metrics in reviewing and assessing Perfect's operating performance and formulating its business plan. Perfect defined these non-IFRS financial measures as follows: Adjusted net income (loss) is defined as net income (loss) excluding one-off transaction costs 3, non-cash equity-based compensation, and non-cash valuation (gain)/loss of financial liabilities. Starting from the first quarter of 2024, we no longer exclude foreign exchange gain (loss) from adjusted net income (loss). As we transitioned to using the U.S. dollar as the functional currency for certain subsidiaries in 2023, our foreign exchange gains (losses), which historically have predominantly been unrealized, have not been material since 2023. For a reconciliation of adjusted net income (loss) to net income (loss), see the reconciliation table included elsewhere in this press release. Non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. Non-IFRS financial measures have limitations as analytical tools, which possibly do not reflect all items of expense that affect our operations. Share-based compensation expenses have been and may continue to be incurred in our business and are not reflected in the presentation of the non-IFRS financial measures. In addition, the non-IFRS financial measures Perfect uses may differ from the non-IFRS measures used by other companies, including peer companies, and therefore their comparability may be limited. The presentation of these non-IFRS financial measures is not intended to be considered in isolation from or as a substitute for the financial information prepared and presented in accordance with IFRS. The items excluded from our adjusted net income are not driven by core results of operations and render comparison of IFRS financial measures with prior periods less meaningful. We believe adjusted net income provides useful information to investors and others in understanding and evaluating our results of operations, as well as providing a useful measure for period-to-period comparisons of our business performance. Moreover, such non-IFRS measures are used by our management internally to make operating decisions, including those related to operating expenses, evaluate performance, and perform strategic planning and annual budgeting. _________________ 1 Adjusted net income (loss) is a non-IFRS financial measure. See the 'Use of Non-IFRS Financial Measures' section of this communication for the definition of such non-IFRS measure. 2 'Key Customers' refers to the Company's brand customers who contributed revenue of more than $50,000 in the trailing 12 months ended on the measurement date. 3 The one-off transaction cost in the first quarter of 2023 included professional services expenditures that the Company incurred in connection with the de-SPAC transaction and in the fourth quarter of 2024 included professional service expenditures that the Company incurred in connection with the Wannaby Inc. transaction. PERFECT CORP. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2023 AND 2024 (Expressed in thousands of United States dollars) December 31, 2023 December 31, 2024 Assets Amount Amount Current assets Cash and cash equivalents $ 123,871 $ 127,121 Current financial assets at fair value through profit or loss — 2,746 Current financial assets at amortized cost 30,300 36,000 Current contract assets 2,770 977 Accounts receivable 6,992 7,902 Other receivables 343 352 Current income tax assets 311 271 Inventories 33 18 Other current assets 4,042 2,522 Total current assets 168,662 177,909 Non-current assets Property, plant and equipment 380 554 Right-of-use assets 847 485 Intangible assets 77 32 Deferred income tax assets 257 2,047 Guarantee deposits paid 140 146 Total non-current assets 1,701 3,264 Total assets $ 170,363 $ 181,173 PERFECT CORP. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS (continued) DECEMBER 31, 2023 AND 2024 (Expressed in thousands of United States dollars) December 31, 2023 December 31, 2024 Liabilities and Equity Amount Amount Current liabilities Current contract liabilities $ 15,346 $ 17,218 Other payables 10,331 11,656 Other payables – related parties 50 46 Current tax liabilities 21 649 Current provisions 2,394 1,899 Current lease liabilities 481 402 Other current liabilities 277 341 Total current liabilities 28,900 32,211 Non-current liabilities Non-current financial liabilities at fair value through profit or loss 1,566 1,793 Non-current lease liabilities 387 108 Net defined benefit liability, non-current 79 46 Guarantee deposits received 25 — Total non-current liabilities 2,057 1,947 Total liabilities 30,957 34,158 Equity Capital stock Perfect Class A Ordinary Shares, $0.1 (in dollars) par value 8,513 8,506 Perfect Class B Ordinary Shares, $0.1 (in dollars) par value 1,679 1,679 Capital surplus Capital surplus 510,399 512,990 Retained earnings Accumulated deficit (380,472 ) (375,420 ) Other equity interest Other equity interest (523 ) (740 ) Treasury shares (190 ) — Total equity 139,406 147,015 Total liabilities and equity $ 170,363 $ 181,173 PERFECT CORP. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE THREE MONTHS AND YEARS ENDED DECEMBER 31, 2023 AND 2024 (Expressed in thousands of United States dollars) Three months ended December 31 Years ended December 31 2023 2024 2023 2024 Items Amount Amount Amount Amount Revenue $ 14,124 $ 15,881 $ 53,505 $ 60,202 Cost of sales and services (2,647 ) (4,116 ) (10,400 ) (13,258 ) Gross profit 11,477 11,765 43,105 46,944 Operating expenses Sales and marketing expenses (6,696 ) (6,939 ) (25,725 ) (28,213 ) General and administrative expenses (2,983 ) (1,759 ) (11,582 ) (8,501 ) Research and development expenses (3,027 ) (2,777 ) (11,458 ) (12,000 ) Expected credit losses — (771 ) — (1,373 ) Total operating expenses (12,706 ) (12,246 ) (48,765 ) (50,087 ) Operating loss (1,229 ) (481 ) (5,660 ) (3,143 ) Non-operating income and expenses Interest income 2,554 1,833 9,498 7,708 Other income 15 36 33 55 Other gains and losses 100 (447 ) 1,675 (316 ) Finance costs (5 ) (4 ) (15 ) (18 ) Total non-operating income and expenses 2,664 1,418 11,191 7,429 Income before income tax 1,435 937 5,531 4,286 Income tax benefit (expense) (35 ) 158 (115 ) 735 Net income $ 1,400 $ 1,095 $ 5,416 $ 5,021 Other comprehensive income (loss) Components of other comprehensive income (loss) that will not be reclassified to profit or loss Actuarial gains (losses) on defined benefit plans $ (4 ) $ 31 $ (4 ) $ 31 Components of other comprehensive income (loss) that will be reclassified to profit or loss Exchange differences arising on translation of foreign operations 108 (223 ) (116 ) (217 ) Other comprehensive income (loss), net $ 104 $ (192 ) $ (120 ) $ (186 ) Total comprehensive income $ 1,504 $ 903 $ 5,296 $ 4,835 Net income, attributable to: Shareholders of the parent $ 1,400 $ 1,095 $ 5,416 $ 5,021 Total comprehensive income attributable to: Shareholders of the parent $ 1,504 $ 903 $ 5,296 $ 4,835 Earnings per share (in dollars) Basic earnings per share of Class A and Class B Ordinary Shares $ 0.02 $ 0.01 $ 0.05 $ 0.05 Diluted earnings per share of Class A and Class B Ordinary Shares $ 0.02 $ 0.01 $ 0.05 $ 0.05 PERFECT CORP. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS AND YEARS ENDED DECEMBER 31, 2023 AND 2024 (Expressed in thousands of United States dollars) Three months ended December 31 Years ended December 31 2023 2024 2023 2024 Items Amount Amount Amount Amount CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax $ 1,435 $ 937 $ 5,531 $ 4,286 Adjustments to reconcile profit (loss) Depreciation expense 156 206 638 747 Amortization expense 19 12 75 51 Expected credit losses — 771 — 1,373 Interest income (2,554 ) (1,833 ) (9,498 ) (7,708 ) Interest expense 5 4 15 18 Net (gains) losses on financial liabilities at fair value through profit or loss 211 334 (1,641 ) 227 Share-based payment transactions 535 593 3,210 2,774 Changes in operating assets and liabilities Accounts receivable (302 ) (665 ) 759 (2,300 ) Current contract assets 339 1,037 866 1,789 Other receivables — — 3 — Inventories — 3 12 15 Other current assets (176 ) (219 ) 662 1,514 Current contract liabilities (668 ) (592 ) 2,366 1,949 Other payables 608 307 1,050 1,362 Other payables – related parties (1 ) (7 ) (12 ) (2 ) Current provisions 64 129 565 (449 ) Other current liabilities 149 46 27 80 Net defined benefit liability, non-current 1 1 3 3 Cash inflow generated from operations (179 ) 1,064 4,631 5,729 Interest received 3,485 2,266 9,464 7,699 Interest paid (5 ) (4 ) (15 ) (18 ) Income tax paid (155 ) (73 ) (502 ) (407 ) Net cash flows from operating activities 3,146 3,253 13,578 13,003 CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of financial assets at fair value through profit or loss — (2,773 ) — (2,773 ) Acquisition of financial assets at amortized cost (24,300 ) (25,000 ) (196,100 ) (80,574 ) Proceeds from disposal of financial assets at amortized cost 80,300 25,000 195,800 74,874 Acquisition of property, plant and equipment (106 ) (3 ) (289 ) (392 ) Acquisition of intangible assets — — (33 ) (6 ) Increase in guarantee deposits paid — — (15 ) (8 ) Net cash flows from (used in) investing activities 55,894 (2,776 ) (637 ) (8,879 ) CASH FLOWS FROM FINANCING ACTIVITIES Repayment of principal portion of lease liabilities (125 ) (144 ) (435 ) (525 ) Payments to acquire treasury shares (50,189 ) — (51,064 ) — Net cash flows used in financing activities (50,314 ) (144 ) (51,499 ) (525 ) Effects of exchange rates changes on cash and cash equivalents 176 (389 ) (187 ) (349 ) Net increase (decrease) in cash and cash equivalents 8,902 (56 ) (38,745 ) 3,250 Cash and cash equivalents at beginning of period 114,969 127,177 162,616 123,871 Cash and cash equivalents at end of period $ 123,871 $ 127,121 $ 123,871 $ 127,121 PERFECT CORP. AND SUBSIDIARIES UNAUDITED RECONCILIATION OF NON-IFRS FINANCIAL MEASURES – ADJUSTED NET INCOME CALCULATION FOR THE THREE MONTHS AND YEARS ENDED DECEMBER 31, 2023 AND 2024 (Expressed in thousands of United States dollars) Three months ended December 31 Years ended December 31 2023 2024 2023 2024 Items Amount Amount Amount Amount Net Income $ 1,400 $ 1,095 $ 5,416 $ 5,021 One-off Transaction Costs — 299 33 299 Non-Cash Equity-Based Compensation 535 593 3,210 2,774 Non-Cash Valuation (Gain) Loss of financial liabilities 211 334 (1,641 ) 227 Adjusted Net Income 1 $ 2,146 $ 2,321 $ 7,018 $ 8,321 Note (1): In accordance with the changed definition of 'adjusted net income' that is detailed in the 'Use of Non-IFRS Financial Measures' section above, we have made a retrospective adjustment to our adjusted net income for the year ended December 31, 2023 not adjusting for 'foreign exchange gains' (which amounted to a gain of $34 thousand for the period, as previously disclosed in our Form 6-K furnished to the SEC on February 28, 2024). Category: Investor Relations View source version on CONTACT: Investor Relations Contact Investor Relations, Perfect Corp. Email: [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK SOURCE: Perfect Corp. Copyright Business Wire 2025. PUB: 02/26/2025 06:30 AM/DISC: 02/26/2025 06:32 AM
