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PERF

Perfect Corp.

PERF

Perfect Corp. • NYSE
$1.79 ▲ 3.47% (+0.06)
Market Cap $183.67 M
52w High $3.44
52w Low $1.51
Dividend Yield 0%
P/E 29.83
Volume 87.61K
Outstanding Shares 102.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $18.659M ▲ $13.65M ▼ $2.08M ▲ 11.147% ▲ $0.02 ▲ $2.484M ▲
Q2-2025 $16.347M ▲ $13.774M ▲ $207K ▼ 1.266% ▼ $0.002 ▼ $921K ▼
Q1-2025 $16.014M ▲ $12.631M ▲ $2.293M ▲ 14.319% ▲ $0.023 ▲ $2.729M ▲
Q4-2024 $15.881M ▼ $12.246M ▼ $1.095M ▼ 6.895% ▼ $0.01 ▼ $1.159M ▼
Q3-2024 $16.127M $13.033M $2.532M 15.7% $0.025 $2.483M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $170.126M ▲ $194.181M ▲ $41.247M ▲ $152.934M ▲
Q2-2025 $167.79M ▲ $190.154M ▲ $39.528M ▲ $150.626M ▲
Q1-2025 $164.603M ▼ $187.27M ▲ $37.234M ▲ $150.036M ▲
Q4-2024 $165.867M ▲ $181.173M ▲ $34.158M ▲ $147.015M ▲
Q3-2024 $163.177M $179.632M $34.113M $145.519M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.225M ▲ $2.768M ▼ $-21K ▲ $-116K ▲ $2.545M ▲ $2.515M ▼
Q2-2025 $207K ▼ $3.648M ▼ $-6.688M ▼ $-168.519K ▼ $-2.966M ▼ $3.53M ▼
Q1-2025 $2.485M ▲ $4.326M ▲ $-3.205M ▼ $-134K ▲ $1.182M ▲ $4.28M ▲
Q4-2024 $1.095M ▼ $3.253M ▼ $-2.776M ▼ $-144K ▼ $-56K ▼ $3.25M ▼
Q3-2024 $2.269M $4.232M $1.84M $-142K $6.381M $4.102M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily from a very small base, showing consistent progress rather than big jumps. Margins look healthy at the gross profit level, suggesting the core software offering is high-value and not too expensive to deliver. The company went through a period of meaningful losses around the time of its listing, but results have improved sharply since then, moving toward modest profitability on both operating and net income lines. That shift from loss-making to slightly profitable is a key positive trend, but it is still a relatively small, early-stage business where results could swing around from year to year.

Balance Sheet

Balance Sheet The balance sheet is lean but generally solid. Cash makes up the bulk of total assets, which gives the company financial flexibility and a buffer against downturns. There is essentially no debt, so there are no heavy interest obligations or refinancing risks hanging over the business. Shareholders’ equity moved from negative to clearly positive after the SPAC process, indicating a cleaner, better-capitalized structure than in the past. Overall, it looks like a cash-rich, asset-light software company, but one that is still small in absolute scale.

Cash Flow

Cash Flow Cash generation has recently turned modestly positive, with the business beginning to fund itself from its own operations instead of relying solely on external capital. Free cash flow has also been slightly positive, helped by very low investment needs for physical assets. That said, the cash inflows are still relatively small, so any slowdown in growth or increase in spending on sales, marketing, or development could quickly change the cash picture. The main story is early but encouraging signs of a self-sustaining model, supported by a strong starting cash balance.

Competitive Edge

Competitive Edge Perfect Corp. operates in a niche where it has clear specialization: AI and augmented reality tools for beauty, fashion, and related consumer experiences. Its long history in this sub-sector, combined with a large installed base of users through its apps and deep partnerships with many global brands, gives it a noticeable edge versus newer entrants. The company’s focus on enterprise SaaS relationships with big brands provides recurring, sticky revenue and makes its technology part of customers’ core e-commerce and in-store experiences. Its data advantage—especially in skin analysis—creates a barrier for rivals who would need both time and access to similar data to catch up. However, it still competes in a fast-moving tech field where large platforms and other AI players could attempt to enter, so maintaining this edge will require constant innovation.

Innovation and R&D

Innovation and R&D Innovation is clearly at the center of Perfect Corp.’s strategy. The company has built advanced AI and AR engines that power realistic virtual try-on for makeup, hair, jewelry, and accessories, and detailed skin analysis informed by a large set of medical-grade images. It continues to push into newer areas like high-definition skin diagnostics, generative AI for realistic simulations, conversational assistants for beauty advice, and touchless in-store experiences. This innovation roadmap extends beyond beauty into potential uses in telehealth, dermatology, and richer e-commerce tools. The key strength is a combination of proprietary data, strong rendering and AI capabilities, and a proven track record of productizing these technologies into both consumer apps and enterprise tools. The main risk is that this pace of innovation must be sustained in a competitive AI landscape, which can demand significant ongoing R&D investment.

Summary

Perfect Corp. is a small but emerging software company built around AI and AR for beauty and fashion, with a business model that is starting to show profitability and positive cash generation after earlier losses. Its balance sheet is cash-heavy and debt-free, giving it resilience and room to keep investing in growth. The company appears to have a real competitive moat built on first-mover advantage, specialized datasets, deep brand relationships, and a large user base. At the same time, it operates in a rapidly evolving technology space, is still modest in scale, and remains sensitive to changes in client demand and the pace of innovation. Overall, it looks like an early-stage, asset-light AI platform with meaningful strengths in a defined niche, but also the typical risks that come with depending on continued innovation and adoption in a fast-moving market.

NEWS

November 28, 2025 · 8:00 AM UTC

Hydreight Technologies Acquires 5% Equity Stake in Perfect Scripts, LLC, with Option to Increase up to 40%, and Establishes Strategic Partnership

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November 25, 2025 · 7:00 AM UTC

Perfect Corp. to Present at the Noble Capital Markets Twenty-First Annual Emerging Growth Equity Conference

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November 20, 2025 · 4:05 PM UTC

Perfect Moment Appoints Sharifa AlSudairi as a Brand Ambassador

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November 20, 2025 · 7:05 AM UTC

'The Perfect Solution': Customers and Partners Share Firsthand Impact of Cyngn Technology

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November 13, 2025 · 4:15 PM UTC

Perfect Moment Reports Strong Fiscal Q2 2026 Results

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