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    Aashi Shah • Sidoti & Company, LLC

    Aashi Shah's questions to Perfect Corp (PERF) leadership

    Aashi Shah's questions to Perfect Corp (PERF) leadership • Q1 2025

    Question

    Aashi Shah inquired about the competitive landscape in the shoe and handbag markets following the Wanna acquisition, the reasons for the recent churn in B2B Key Brand Customers, and the company's capital allocation strategy for its large cash balance.

    Answer

    EVP & CSO Pin-Jen Chen (Louis) stated that Wanna is a leader in the shoe market and has the best solution for bags with few significant competitors. He clarified that recent B2B churn was among medium-sized clients due to their own financial pressures, not competitive losses. Regarding capital, he noted that holding cash is prudent, with the current priority being organic growth through R&D and marketing investment, while M&A remains a selective option.

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    Aashi Shah's questions to Perfect Corp (PERF) leadership • Q3 2024

    Question

    Aashi Shah inquired about the revenue growth breakdown for the B2B versus B2C segments within AI solutions and asked for any preliminary outlook on the growth rate for the upcoming year.

    Answer

    Executive Vice President and Chief Strategy Officer, Pin-Jen Chen, responded that the B2C business demonstrated a faster growth rate than B2B in the recent quarter, noting that the B2B market rebound is taking more time. He stated that guidance for the next year is currently being developed and is expected to be shared towards the end of the year.

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    Aashi Shah's questions to Perfect Corp (PERF) leadership • Q2 2024

    Question

    Aashi Shah asked for details on the monthly active subscriber base, including the mix of new versus existing users and churn rates, and requested a ranking of new categories by their potential for revenue growth in the second half of 2024.

    Answer

    EVP & CSO Pin-Jen Chen explained that new subscribers typically choose annual plans, indicating high engagement, but did not disclose specific churn rates. He noted that growth is broad-based across 15-20 countries. For category growth, he highlighted strong momentum in skincare, continued maturity in the large makeup segment, and very promising growth in jewelry and watches. He identified skincare and the B2C consumer app as key financial contributors for the near term.

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