Perfect Corp. Class A ( (PERF) ) has released its Q4 earnings. Here is a breakdown of the information Perfect Corp. Class A presented to its investors.
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Perfect Corp., a global leader in AI and AR SaaS solutions for the beauty and fashion industries, has released its unaudited financial results for the fourth quarter and full year of 2024. The company is known for its innovative technologies that enhance consumer shopping experiences through virtual try-ons and AI-powered diagnostics.
In the latest earnings report, Perfect Corp. reported a 12.4% increase in revenue for the fourth quarter of 2024, reaching $15.9 million, driven by the growth of its AI and AR cloud solutions and mobile app subscriptions. For the full year, revenue rose by 12.5% to $60.2 million. Despite a slight decrease in net income for both the quarter and the year, the company achieved an 8.2% increase in adjusted net income for the quarter and an 18.6% increase for the year.
Key financial metrics highlighted include a gross profit of $11.8 million for the fourth quarter, with a slight decrease in gross margin due to increased third-party payment processing fees. The company’s operating cash flow remained positive, and its YouCam mobile beauty app reached over 1 million active subscribers. Perfect Corp. also completed the acquisition of Wannaby Inc., enhancing its capabilities in virtual try-on solutions.
Looking forward, Perfect Corp. anticipates continued revenue growth in 2025, projecting a year-over-year increase of 13% to 14.5%. The company remains committed to innovation and expanding its market presence, aiming to deliver ongoing value to stakeholders.