New York, NY, United States, 20th May 2024 – Perfect Corp. (NYSE: PERF) (“Perfect” or the “Company”), a global leader in providing artificial intelligence (AI) and augmented reality (AR) Software-as-a-Service (SaaS) solutions to the beauty and fashion industries, announces its financial results for the first quarter ended March 31, 2024. The company reported revenue of $14.3 million, representing a robust 17.7% growth compared to $12.1 million in the same period of 2023.
The strong revenue growth was primarily driven by the solid demand for the Company’s AI and AR solutions from its enterprise customers, particularly in the skin diagnosis makeup, jewelry and fashion virtual try-on sectors. Perfect Corp.’s gross profit also saw an impressive increase of 16.9% year-over-year, reaching $11.2 million in Q1 2024.
“We are thrilled with the strong start to 2024, as evidenced by our 17.7% revenue growth and the increasing demand for our AI and AR solutions from our enterprise customers,” said Alice Chang, Founder and CEO of Perfect Corp. “Our continued focus on innovation and delivering value to our brand partners has positioned us well to capitalize on the growing market opportunities in the beauty and fashion industries.”
During the first quarter, Perfect Corp. continued to expand its customer base, onboarding new brand clients and increasing the number of SKUs supported by its platform. The Company also made significant strides in penetrating new verticals such as skincare and fashion, deepening its market presence in these sectors.
As of March 31, 2024, Perfect Corp.’s platform supported 666 brand clients and over 745,000 digital SKUs across makeup, haircare, skincare, eyewear, and jewelry categories, demonstrating the Company’s ability to cater to the diverse needs of its customers.
“Our strong performance in Q1 2024 is a testament to the value our AI and AR solutions bring to our brand partners,” added Chang. “As we move forward, we remain committed to pushing the boundaries of innovation and empowering our customers to deliver exceptional shopping experiences to their consumers.”
Perfect Corp.’s financial results highlight the Company’s ability to drive growth and profitability while investing in cutting-edge technologies. With its strong market position and expanding customer base, Perfect Corp. is well-positioned to capitalize on the increasing demand for AI and AR solutions in the beauty and fashion industries.
About Perfect Corp.
Perfect Corp. is a leading provider of AI and AR SaaS solutions for the beauty and fashion industries. With a mission to revolutionize the consumer shopping experience, Perfect Corp. empowers brands with innovative technologies that drive engagement, increase conversions, and foster customer loyalty. The Company’s suite of solutions includes virtual try-on, skin analysis, and personalized recommendations, among others. Founded in 2015, Perfect Corp. is headquartered in Taipei with additional offices in New York, Tokyo, and Paris. For more information, please visit https://www.perfectcorp.com.
Media Contact
Organization: Perfect Corp
Contact Person: Jimmy Xia
Website: https://www.perfectcorp.com
Email: Investor_Relations@PerfectCorp.com
City: New York
State: NY
Country: United States
Release Id: 20052412330