00:00PerfectCorp, a global leader in providing augmented reality and artificial intelligence
00:06software as a service solution to beauty and fashion industries, recently announced its
00:11unaudited financial results for the 3 months ended December 31, 2023 and the full year
00:16ended December 31, 2023.
00:19Let's take a look at some highlights.
00:21Total revenue was $14.1M for the 3 months ended December 31, 2023 compared to $11.1M
00:28in the same period of 2022, which is an increase of 27.6%.
00:34Gross profit was $11.5M for the 3 months ended December 31, 2023 compared to $9.1M in the
00:41same period of 2022, an increase of 26%.
00:45Net income was $1.4M for the 3 months ended December 31, 2023 compared to a net loss of
00:51$190.3M during the same period of 2022.
00:56PerfectCorp's recent quarterly growth is supplemented by yearly growth figures.
01:00For example, full year revenue was $53.5M in 2023 compared to $47.3M in 2022, which
01:08is an increase of 13.1%.
01:11Both increases were primarily due to strong growth in the AR, AI, cloud solutions and
01:16subscription revenues.
01:18Full year gross profit was $43.1M in 2023 compared with $40.2M in 2022, which is an
01:25increase of 7.3%.
01:27Full year net income was $5.4M for 2023 compared to a net loss of $161.7M for 2022.
01:36Operating cash flow was positive $13.6M in full year 2023 compared to $-3.3M in full
01:43year 2022.
01:45Ms. Alice H. Chang, who is the founder, chairwoman, and CEO of PerfectCorp commented,
01:50We closed out 2023 with strong fourth quarter results, achieving a 27.6% year-over-year
01:57double-digit revenue growth, along with improved gross profit and positive net income.
02:02This performance was fueled by robust momentum in our AR, AI, cloud solutions and subscription
02:08revenue, driven by our advanced AI development.
02:11In particular, our beautiful AI products and strategy, encompassing Beauty AI, Skin AI,
02:19and Gen AI, represent the core of our business going forward.
02:22While the impact of the pandemic is gradually mitigating, we anticipate a robust recovery
02:27in the sales cycle and pipeline in 2024 as conditions improve.
02:31We firmly believe that our AI capabilities position us well for continued growth in 2024
02:37and beyond.
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