STOXPO
  • Latest News
  • Technology
    • Software
    • Semiconductors
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions
No Result
View All Result
  • Latest News
  • Technology
    • Software
    • Semiconductors
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions
No Result
View All Result
STOXPO
No Result
View All Result
Home Technology Artificial Intelligence
virtual makeup

Perfect Corp. Reports Strong 2024 Growth Driven by AI and AR Innovations

byLuca Blaumann
February 26, 2025
in Artificial Intelligence, Retail, Small-Cap, Software
Reading Time: 4 mins read
Share on TwitterShare on LinkedIn

Record Revenue Growth and Expansion Signal Promising 2025 Outlook

Perfect Corp (PERF), a global leader in AI and AR SaaS solutions for the beauty and fashion industries, has announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024. The company reported robust revenue growth, solid net income, and an expanding customer base, underscoring its strategic advancements and leadership in digital beauty technology.

Fourth Quarter 2024 Financial Performance

Perfect Corp. recorded total revenue of $15.9 million in Q4 2024, a 12.4% increase compared to $14.1 million in the same quarter of 2023. This growth was primarily driven by the expansion of AI- and AR-powered cloud solutions and mobile app subscriptions. Gross profit also saw an increase, reaching $11.8 million, up from $11.5 million in the previous year.

Despite revenue gains, net income for Q4 2024 was $1.1 million, a 21.8% decline from $1.4 million in Q4 2023. However, adjusted net income (non-IFRS) grew by 8.2% to $2.3 million. Operating cash flow rose 3.4% year-over-year to $3.3 million, reinforcing the company’s ability to generate consistent cash flow.

A key highlight of the quarter was the 14.3% year-over-year increase in YouCam mobile beauty app and web active subscribers, which exceeded 1 million users by the end of 2024. This growth underscores the rising consumer demand for digital beauty solutions.

Full-Year 2024 Performance

For the full year 2024, Perfect Corp. achieved total revenue of $60.2 million, up 12.5% from $53.5 million in 2023. The company’s AI- and AR-based cloud solutions and subscription revenue drove this increase, reaching $53.8 million, a 20.2% jump from $44.8 million in the previous year.

Gross profit for 2024 stood at $46.9 million, an 8.9% increase compared to $43.1 million in 2023. Net income was reported at $5.0 million, slightly down from $5.4 million in 2023, primarily due to increased investments in research and development (R&D) and sales and marketing efforts. Adjusted net income, however, rose 18.6% to $8.3 million, reflecting the company’s focus on improving profitability through scalable solutions.

Operating cash flow for 2024 was $13.0 million, compared to $13.6 million in 2023, a slight decline of 4.2%. Despite this, Perfect Corp. maintained a strong cash position, with $127.1 million in cash and equivalents as of December 31, 2024.

Strategic Expansions and Key Business Developments

Perfect Corp. continued its expansion efforts in 2024, increasing its brand client base to 732, up from 708 in Q3 2024. The number of digital stock-keeping units (SKUs) rose to 822,000, highlighting the company’s growing footprint in the beauty, skincare, eyewear, and jewelry industries. The company’s key customer base remained stable at 151, reflecting consistent enterprise engagement.

A major development was the acquisition of Wannaby Inc., a pioneer in augmented reality and computer vision technologies for virtual try-ons in the fashion industry. Completed on January 8, 2025, this acquisition strengthens Perfect Corp.’s position in AI-driven fashion technology and expands its digital product offerings beyond beauty.

Market Trends and Growth Drivers

Perfect Corp.’s sustained growth is fueled by increasing demand for AI-powered virtual try-on solutions, growing consumer adoption of digital beauty apps, and the rising popularity of generative AI technologies. The company’s YouCam app has seen significant traction, with an expanding user base and continued revenue contributions from mobile subscriptions and cloud solutions.

Despite a decline in licensing revenue, which fell by 30.8% year-over-year to $5.2 million, Perfect Corp. has strategically shifted focus toward recurring revenue models, ensuring long-term stability. The company’s ability to offset licensing losses with higher SaaS-based revenue indicates a successful transition to a more sustainable business model.

2025 Outlook: Continued Growth and Innovation

Looking ahead, Perfect Corp. projects a year-over-year revenue growth rate of 13% to 14.5% for 2025. This forecast is supported by the continued expansion of YouCam subscriptions, increasing enterprise SaaS demand, and new technological innovations in AI and AR.

Alice H. Chang, Founder, Chairwoman, and CEO of Perfect Corp., expressed confidence in the company’s future, stating, “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. 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.”

With a strong foundation and a commitment to continuous innovation, Perfect Corp. is well-positioned to capitalize on emerging digital beauty trends and further solidify its leadership in AI and AR-powered beauty and fashion solutions.

Read original press release here

You might like this article:CAVA Group Reports Strong Fiscal 2024 Growth, Driven by Same Restaurant Sales and Expansion

Tags: AIEarningsELFGrowthMoversNewsPERFPerfectStock MarketULTA
Previous Post

CAVA Group Reports Strong Fiscal 2024 Growth, Driven by Same Restaurant Sales and Expansion

Next Post

GM Boosts Shareholder Returns with Dividend Hike and $6 Billion Buyback Plan

Related Posts

investing

Marvell Projects Strong Q2 Growth on AI Chip Demand Surge

byLuca Blaumann
May 29, 2025
0

Custom AI and Networking Chips Drive Data Center Momentum, Boosting Revenue Forecast Marvell Technology (NASDAQ: MRVL) is riding the wave...

semiconductor-2

Nvidia Surges as AI Momentum Outweighs China Setbacks in Q1 Earnings

byLuca Blaumann
May 29, 2025
0

Record Revenue, Strong AI Demand, and Resilience Amid Export Bans Push Stock Toward All-Time High Nvidia (NASDAQ: NVDA) shares surged...

opthalmology

Telomir Pharmaceuticals Reports Breakthrough in Oral Therapy for Vision Loss

byLiliana Vida
May 29, 2025
0

Telomir-1 reverses retinal degeneration and restores vision in advanced AMD zebrafish model Telomir Pharmaceuticals (TELO) announced a major preclinical breakthrough...

Next Post

GM Boosts Shareholder Returns with Dividend Hike and $6 Billion Buyback Plan

Latest News

Marvell Projects Strong Q2 Growth on AI Chip Demand Surge

Nvidia Surges as AI Momentum Outweighs China Setbacks in Q1 Earnings

Telomir Pharmaceuticals Reports Breakthrough in Oral Therapy for Vision Loss

Macy’s Beats Q1 Estimates But Cuts 2025 Outlook Amid Retail Headwinds

Bitcoin Smashes Through $111K Amid Regulatory Optimism and Institutional Demand

Based on Your Interest

Pharmaceuticals

Telomir Pharmaceuticals Secures $3M Premium Equity Investment to Advance Rare Disease Program

May 21, 2025
tesla-2
Mega-Cap

Elon Musk Confirms Tesla and xAI to Continue Buying AI Chips from Nvidia and AMD

May 21, 2025
Aerospace & Defense

KULR Expands Bitcoin Treasury to $78 Million, Strengthens Crypto-Centric Financial Strategy

May 20, 2025

Recommended

Internet

Reddit Stock: Undervalued Gem in the Social Media Landscape

May 20, 2025
Large-Cap

AMD to Sell ZT Systems Manufacturing Business to Sanmina in $3 Billion Deal

May 19, 2025
Large-Cap

Dick’s Sporting Goods to Acquire Foot Locker in $2.4 Billion Deal

May 16, 2025
Large-Cap

AMD Expands Stock Buyback Program to $10 Billion Amid Strong Financial Confidence

May 14, 2025
Brokerages

Coinbase Surges After Landmark S&P 500 Inclusion

May 13, 2025
Stoxpo

Follow us on social media:

Highlights

  • Marvell Projects Strong Q2 Growth on AI Chip Demand Surge
  • Nvidia Surges as AI Momentum Outweighs China Setbacks in Q1 Earnings
  • Telomir Pharmaceuticals Reports Breakthrough in Oral Therapy for Vision Loss
  • Macy’s Beats Q1 Estimates But Cuts 2025 Outlook Amid Retail Headwinds
  • Bitcoin Smashes Through $111K Amid Regulatory Optimism and Institutional Demand

Category

  • Blog
  • Communication Services
    • Entertainment
    • Internet
    • Telecommunications
  • Companies
    • Large-Cap
    • Mega-Cap
    • Micro-Cap
    • Mid-Cap
    • Small-Cap
  • Consumer Cyclical
    • Auto Manufacturers
    • Casinos & Gambling
    • Ground Transportation
    • Hospitality
      • Casinp
      • Resorts & Lodging
      • Restaurants
      • Travel
        • Airlines
    • Retail
    • Textiles, Apparel & Luxury Goods
  • Consumer Defensive
    • Beverages
    • Discount Stores
    • Distributor
    • Ecommerece
    • Electrical Equipment
    • Foods
    • Household & Personal Products
    • Leisure Products
    • Tobacco
  • Contributions
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Economy
  • Energy
    • Electric
    • Oil & Gas
    • Renewables
  • Financial Services
    • Asset Management
    • Banks
    • Brokerages
    • Credit Services
    • Insurance
  • Healthcare
    • Biotechnology
    • Medical Devices
    • Pharmaceuticals
  • Industrials
    • Aerospace & Defense
    • Construction
    • Industrial Machinery
  • Materials
    • Building Materials
    • Chemicals
    • Gold
    • Mining
    • Silver
    • Steel
  • Q&A's
  • Real Estate
  • Technology
    • Artificial Intelligence
    • Computer Hardware
    • Consumer Electronics
    • Cybersecurity
    • IT Services
    • Semiconductors
    • Software
  • Utilities

Latest News

investing

Marvell Projects Strong Q2 Growth on AI Chip Demand Surge

May 29, 2025
semiconductor-2

Nvidia Surges as AI Momentum Outweighs China Setbacks in Q1 Earnings

May 29, 2025
opthalmology

Telomir Pharmaceuticals Reports Breakthrough in Oral Therapy for Vision Loss

May 29, 2025
  • About
  • Privacy Policy
  • Contact

© 2024 All Rights Reserved: STOXPO.

No Result
View All Result
  • Latest News
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Technology
    • Software
    • Semiconductors
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions

© 2024 All Rights Reserved: STOXPO.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More

In case of sale of your personal information, you may opt out by using the link Do Not Sell My Personal Information

Accept Cookie Settings
Cookies are small text files that can be used by websites to make a user's experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
  • Always Active
    Necessary
    Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
  • Marketing
    Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
  • Analytics
    Analytics cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
  • Preferences
    Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
  • Unclassified
    Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
Cookie Settings

Do you really wish to opt-out?