Summary of Perfect Corp. Presentation at Lithium Partners Fall 2025 Investor Conference Company Overview - **Company Name**: Perfect Corp. - **Ticker Symbol**: PERF - **Founded**: 2015 - **Employees**: Over 400, primarily in engineering roles - **Headquarters**: Taipei, Taiwan - **Market Focus**: Beauty and fashion industries, leveraging AI innovations for consumer shopping experiences [2][3] Financial Performance - **Revenue**: - Last year: $60 million - Current year projection: $68-70 million - First half of the current year: $32 million, with a growth rate of 14.8% [7][29] - **Gross Margin**: Approximately 78% [29] - **Net Adjusted Income**: - Last year: $8.3 million (13.8% margin) - First half of the current year: $2.4 million (7.5% margin) [31] - **Cash Position**: $167.8 million in cash and cash equivalents at the end of Q2 [30] Business Models - **B2C Model**: - Contributes 60-70% of total annual revenue - Six mobile apps and one online service on a freemium model [5][6] - Key apps: YouCam Makeup and YouCam Perfect, generating 80% of B2C revenues [7][8] - **B2B Model**: - Traditional enterprise SaaS model with 15 solutions across various beauty and fashion sectors [5][6] Market Presence - **Geographic Revenue Distribution**: - 50% from the U.S., followed by France and Tokyo [3] - **Client Base**: Over 800 brands, including major names like Estée Lauder and Dior [12][28] Technological Innovations - **AI and AR Solutions**: - Pioneered AI in beauty tech since 2015, with continuous updates every two years [6][7] - Generative AI for photo and video expected to grow 30-40% over the next decade [10] - **Product Features**: - Virtual try-on technology for makeup and skincare, enhancing consumer engagement and conversion rates [11][16][17] - New generative AI solutions for fashion, allowing users to visualize clothing on themselves with a single photo [21][23] Growth Opportunities - **Expansion in Generative AI**: Strong momentum in subscriber growth for YouCam Makeup apps [32] - **Cross-Selling Opportunities**: Potential to upsell to sister brands within top beauty groups [32] - **New Market Penetration**: Focus on skincare and fashion, including jewelry and accessories [33][34] - **Strategic Acquisitions**: Completed acquisition of WANNA to enhance fashion solutions [28] Conclusion - Perfect Corp. is positioned for continued growth through innovative AI solutions in the beauty and fashion sectors, with a strong financial foundation and expanding market presence [30][34]

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Financial Data and Key Metrics Changes - Total revenue grew by 12.1% year over year to $16,000,000, with net income increasing by 264% to $2,300,000 [7][21] - Adjusted net income rose by 33.3% to $2,000,000 compared to the first quarter of 2024 [8][21] - Operating cash flow generated a net inflow of $4,300,000, with a strong balance sheet holding over $164,600,000 in cash and cash equivalents [8][22] Business Line Data and Key Metrics Changes - AI and AR cloud solution and subscription revenue grew by 13.3% to $14,100,000, representing 88% of total revenue [18] - The mobile app business maintained strong growth with active paying subscribers increasing by 7.9% to 973,000 [10][22] - Licensing revenue increased by 1.5% to $1,600,000, although it is expected to become immaterial as it is phased out [18] Market Data and Key Metrics Changes - The company reported a decrease in the number of key customers from 151 to 148 due to unexpected contract churns [24] - The enterprise customer base increased by 59 brand clients, totaling 801 brand clients with over 891,000 SKUs [23] Company Strategy and Development Direction - The growth strategy for 2025 focuses on expanding B2C revenue through new generative AI functions and higher premium subscription plans [14][26] - The integration of the Wana acquisition is progressing smoothly, aiming to enhance market position and expand the addressable market [11][25] - The company is prioritizing organic growth while remaining selective about future acquisitions, particularly in new verticals [35][56] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities despite macroeconomic uncertainties, with a revenue growth forecast of 13% to 14.5% for 2025 [26][27] - The company is well-positioned to benefit from evolving client needs due to its strong track record and expertise in the beauty and fashion industry [15][52] Other Important Information - Gross profit for the first quarter grew by 11.4% to $12,500,000, with a gross margin of 77.9% [18][19] - Operating expenses increased by 2% to $12,600,000, primarily due to R&D expenses [19][20] Q&A Session Summary Question: Can you talk about the launch of the new AI chat app? - The app was launched last month on both Apple and Google Play stores, integrating various AI tools into one platform [29][30] Question: How did the Wana acquisition impact customer numbers? - The acquisition added over a dozen key customers, but there were also losses due to financial pressures on medium-sized clients [34][54] Question: What are the future acquisition plans? - The focus is on expanding into new verticals rather than acquiring competitors, particularly in the luxury retail space [35][37] Question: How does the Wana acquisition affect the sales process? - The acquisition has provided a complete solution that simplifies integration efforts for clients, enhancing the sales process [42][43] Question: What are the monetization strategies for B2C? - The company is optimizing pricing, introducing a higher premium subscription plan, and early results show consumer willingness to upgrade [46][47] Question: What is the competitive landscape in the shoe and handbag markets? - There are few competitors in the handbag space, while the shoe market has several leading brands, with Perfect Corp. confident in its technology [51][52]