Perfect Corp Q2 revenue up, but swings to loss

Perfect Corp, a company that provides AR and AI Software-as-a-Service (SaaS) for global beauty and fashion businesses, has swung to a loss in the second quarter despite posting an 11.9 percent increase in revenue.

The US company made revenue of 12.7 million dollars in the three months to June 30, which it said was primarily due to strong growth momentum in AR/AI cloud solutions and subscription revenues.

Despite the increase in revenue, the company swung to a net loss of 0.2 million dollars from a profit of 27.4 million dollars the prior year.

For the full-year, the company expects revenue to be between 11.5 percent and 14.5 percent higher than the prior year.

Pin-Jen (Louis) Chen, the company’s executive vice president and chief strategy officer, said in a statement: “In the second quarter, we saw sound momentum in our top-line growth, which was driven by continued demand for our online AR/AI cloud solutions and subscriptions, along with the rapid growth in our mobile beauty app subscribers.”