Perfect Corp. revenues up on AI- and AR-cloud solution growth

The company had 151 key customers as of June 30, 2024, compared with 152 Key Customers as of March 31, 2024. The slight decrease in the number of key customers primarily resulted from the non-renewal of customer contracts by certain brand clients due to financial pressure among other factors, the company said. As of June 30, 2024, the company’s cumulative customer base included 686 brand clients, with over 774,000 digital stock-keeping units (“SKUs”) for makeup, haircare, skincare, eyewear, and jewelry products, compared to 666 brand clients and over 745,000 digital SKUs as of March 31, 2024.

The company’s YouCam mobile beauty app active subscribers grew by 18.3% year-over-year, reaching a record high of over 919,000 active subscribers at the end of the second quarter of 2024.

“In the first half of 2024, we achieved robust top-line growth that aligns with our annual targets. This success was driven by growth momentum in our AI- and AR-powered cloud solutions, subscription revenue, and rapid advancements in AI technologies,” said Alice H. Chang, founder, chair and CEO, Perfect Corp. The management team’s dedication not only expanded our business but also improved efficiencies across key financial metrics including net income, net margins, operating income, and positive cash flow, bolstering our strong balance sheet. Our focused efforts on enhancing operational efficiencies have yielded significant results this quarter. Through strategic process improvements and leveraging advanced technologies, we streamlined workflows, reduced operational costs, and boosted productivity. With our proven track record and ongoing AI innovations, we are well positioned to sustain business growth and continue delivering value to customers and shareholders throughout the latter half of 2024 and beyond.”