Research analysts who have asked questions during Perfect earnings calls.
Aashi Shah
Sidoti & Company, LLC
3 questions for PERF
Also covers: BENF
LT
Lisa Thompson
Unaffiliated Analyst
3 questions for PERF
Also covers: DUO, MHH, NEXCF +1 more
Brian Schwartz
Oppenheimer & Co.
2 questions for PERF
Also covers: AGYS, BRZE, CWAN +10 more
PM
Patrick McCann
Noble Capital Markets
2 questions for PERF
Also covers: BTM, CNDT, DRCT +3 more
CR
Christopher Riccio
Partners Corp.
1 question for PERF
Mike Kupinski
Noble Capital Markets
1 question for PERF
Recent press releases and 8-K filings for PERF.
PERF Highlights Strong Financial Position and GenAI-Driven Growth at Conference
PERF
Guidance Update
M&A
Revenue Acceleration/Inflection
- PERF reported a strong financial position with $170 million in cash and no debt, against a $175 million market capitalization, and achieved its first positive operating income of approximately $500,000 in Q3 2025.
- The company has surpassed its 2025 revenue growth guidance of 13%-14.5% through Q3.
- B2C revenue has rapidly surpassed B2B, shifting from 75-80% B2B in late 2022 to a projected 30% B2B by the end of 2025, driven by GenAI technology and a $20 uptick in average selling price (ASP) following the introduction of a premium model in Q1 2025.
- PERF expanded its offerings with the acquisition of Wannabe in Q1 2025, adding luxury brand Virtual Try-On for items like shoes and clothing.
- The company increased its headcount by approximately one-third over the past two years to 410 employees to support GenAI development, but expects R&D spending to slow, potentially leading to improved margins.
Nov 19, 2025, 10:40 PM
Perfect Corp. Reports Strong Financials and Strategic Shift Towards B2C Growth
PERF
Guidance Update
Revenue Acceleration/Inflection
M&A
- Perfect Corp., an AI/AR beauty and fashion software company, reported a market capitalization of $175 million with $170 million in cash and no debt as of November 19, 2025. The company believes it is very undervalued.
- The company expects to surpass its 13%-14.5% revenue growth guidance for the current year and achieved positive operating income of approximately $500,000 in the third quarter of this year (2025), with a net income of about $5 million and a 10% net margin.
- Perfect Corp. has experienced a significant shift in its revenue mix, with B2B revenue decreasing from 75%-80% at the end of 2022 to a projected 30% by the end of 2025, as its B2C segment has grown rapidly, driven by increased Average Selling Price (ASP) despite a slight decline in subscriber numbers. GenAI technology is identified as the main growth driver.
- The company maintains a 90%+ B2B client retention rate and recently acquired Wannabe to expand its luxury brand Virtual Try-On capabilities, while also growing its API business with non-beauty/fashion clients.
Nov 19, 2025, 10:40 PM
Perfect Corp. Highlights Strong Financial Position and GenAI-Driven Growth
PERF
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Perfect Corp. (PERF), a beauty and fashion software company, has a market capitalization of approximately $175 million with a strong balance sheet, including $170 million in cash and no debt as of November 19, 2025.
- The company projects 13%-14.5% revenue growth for the current year, having already surpassed this guidance through Q3, and achieved its first positive operating income of approximately $500,000 in Q3.
- PERF's revenue mix has significantly shifted, with B2C business projected to comprise 70% of revenue by year-end, up from 20-25% at the end of 2022, driven by changing consumer habits and GenAI technology. This shift has led to a slight downtick in gross margins.
- GenAI technology for photo and video editing is identified as the main growth driver for both B2C apps and B2B solutions, with the company increasing headcount by a third over two years to support its development. PERF also completed a small M&A in Q1 for luxury brand Virtual Try-On.
Nov 19, 2025, 10:40 PM
Perfect Corp. Reports Q3 2025 Financial Results and Reaffirms Full-Year Guidance
PERF
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Perfect Corp. (PERF) reported a 15.7% increase in total revenue to $18.7 million for the three months ended September 30, 2025, compared to $16.1 million in the same period of 2024, primarily driven by strong growth in mobile app and web services subscriptions. For the nine months ended September 30, 2025, total revenue increased 15.1% to $51.0 million.
- The company achieved an operating income of $0.5 million in Q3 2025, marking the first time it reached an operating profit position, compared to an operating loss of $0.1 million in the same period of 2024. However, net income for Q3 2025 decreased 17.9% to $2.1 million from $2.5 million in Q3 2024, mainly due to higher platform processing fees, increased personnel costs, and lower interest income.
- Perfect Corp. reaffirmed its full-year 2025 revenue guidance of 13.0% to 14.5% year-over-year growth compared to 2024. As of September 30, 2025, active subscribers for YouCam mobile apps and web services slightly decreased by 1.5% to 946,000, attributed to an average selling price increase initiative.
Oct 28, 2025, 11:00 AM
Perfect Corp. Reports Q3 and Nine-Month 2025 Financial Results
PERF
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Perfect Corp. reported total revenue of $18.7 million for the three months ended September 30, 2025, an increase of 15.7% year-over-year, and $51.0 million for the nine months ended September 30, 2025, up 15.1%.
- The company achieved an operating income of $0.5 million for the three months ended September 30, 2025, marking its first time reaching an operating profit, compared to an operating loss in the prior year period.
- Net income for the nine months ended September 30, 2025, increased by 16.7% to $4.6 million , despite a 17.9% decrease to $2.1 million for the three months ended September 30, 2025.
- Perfect Corp. reaffirmed its full-year 2025 revenue guidance for 13.0% to 14.5% year-over-year growth compared to 2024.
Oct 28, 2025, 11:00 AM
Perfect Corp. Discusses H1 2025 Performance and Strategic Growth
PERF
Guidance Update
M&A
Share Buyback
- Perfect Corp. is a software company specializing in AI/AR solutions for the beauty and fashion industry, serving both B2B and B2C markets globally.
- As of June 30th, 2025, the company held over $167 million in cash and cash equivalents.
- Revenue growth for the first half of 2025 was just under 15%, surpassing the full-year guidance of 13% to 14.5%.
- Gross margin has slightly decreased due to the increasing proportion of lower-margin B2C revenue, which is projected to be 65% to 70% of overall revenue if current patterns continue.
- The company completed the acquisition of WANNA in Q1 2025 for strategic expansion into luxury brand AR/AI virtual try-on technology. In 2023, Perfect Corp. spent approximately $51 million on a tender offer and share buyback.
Oct 20, 2025, 4:00 PM
Perfect Corp Reports Strong Cash Position and Growth Guidance, Announces Q1 2025 Acquisition
PERF
Guidance Update
M&A
Share Buyback
- Perfect Corp (PERF) reported just over $167 million in cash and cash equivalents as of June 30, 2025, and was operating cash flow positive with $8 million in the first half of 2025.
- The company projects 13% to 14.5% top-line growth for fiscal year 2025, having achieved just under 15% growth in the first half of 2025 and over 17% in Q2 2025.
- Perfect Corp acquired Wana Corp in Q1 2025 for approximately $6 million, expanding its AR AI virtual try-on technology for luxury brands.
- The B2C segment is expected to be the primary growth driver, with its revenue contribution projected to increase from 25% in 2023 to 65-70% in 2025, though this shift is contributing to a slight decrease in gross margin due to lower B2C margins.
- In 2023, the company executed a $51 million share buyback and tender offer.
Oct 20, 2025, 4:00 PM
Perfect Corp. Provides Financial Update and Strategic Outlook at Investor Conference
PERF
Earnings
Guidance Update
M&A
- Perfect Corp. reported $60 million in revenue for FY 2024, representing 12.5% year-over-year growth, with a 78% gross margin and $8.3 million in adjusted net income. For the first half of 2025, revenue reached $32 million, a 14.8% growth, with $2.4 million in adjusted net income.
- The company maintains a strong financial position, holding $167.8 million in cash and cash equivalents at the end of Q2 2025 and generating $8 million in positive operating cash flow for the first half of 2025.
- Perfect Corp. projects full-year 2025 revenue to be between $68 million and $69 million, reflecting 13% to 14.5% growth.
- Strategic growth drivers include continued innovation in generative AI for its B2C apps, deepening penetration within top beauty groups, and expanding into fashion and jewelry, notably through the acquisition of WANNA in early 2025.
Sep 30, 2025, 6:00 PM
Perfect Corp. Reports H1 2025 Financial Results and Strategic Acquisition
PERF
Earnings
M&A
New Projects/Investments
- Perfect Corp.'s total assets increased to $190,154 thousand as of June 30, 2025, from $181,173 thousand at December 31, 2024.
- Total equity grew to $150,626 thousand as of June 30, 2025, compared to $147,015 thousand at December 31, 2024, while total liabilities also increased to $39,528 thousand from $34,158 thousand over the same period.
- For the six months ended June 30, 2025, revenue rose 14.8% to $32,361 thousand from $28,194 thousand in the prior year, contributing to a net income of $2,500 thousand, up from $1,394 thousand.
- The company completed the acquisition of Wannaby Inc. in January 2025, expanding its virtual try-on solutions into new luxury market segments.
Sep 26, 2025, 10:03 AM
Perfect Corp discusses business strategy and financial performance
PERF
Guidance Update
M&A
New Projects/Investments
- Perfect Corp (PERF) operates in the AI AR space for beauty and fashion, serving both B2B clients (over 800 brand clients including LVMH, Estee Lauder) and B2C consumers through its YouCam apps.
- The company's revenue mix has shifted significantly, with B2C now contributing over 60% of revenue (up from 25% at listing in late 2022), leading to a blended gross margin decrease to 75% in Q2 2025 due to lower B2C margins.
- Perfect Corp reported 12.5% growth in 2024 and provided 2025 top-line growth guidance of 13% to 14.5%. The company maintains a strong financial position with over $167 million in cash and cash equivalents and positive operating cash flow of ~$8 million in H1 2025.
- In January 2025, Perfect Corp acquired Wannabe (Wana) for approximately $6 million, expanding its AI AR virtual try-on capabilities to include jewelry, watches, shoes, bags, and clothing.
- The company's near-term goal is to reach $100 million in revenue as soon as possible, driven by continued investment in Gen AI R&D and expansion into new B2B clients and services.
Aug 26, 2025, 7:20 PM
Quarterly earnings call transcripts for Perfect.
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