Q2 2024 Perfect Corp Earnings Call Transcript
Key Points
- Revenue grew by 13.5% year over year to $28.2 million in the first half of 2024.
- Net income increased by 185% year over year to $1.4 million.
- Adjusted net income rose by 26.2% to $2.8 million compared to the first half of last year.
- Strong growth in AI-AR cloud solutions and mobile beauty app subscriptions.
- Operating cash flow generated a net inflow of $5.5 million in the first half of 2024.
- Licensing revenue decreased by 49.8% in the second quarter of 2024.
- Gross margin decreased from 80.6% to 79.3% due to higher third-party payment processing fees.
- Total operating expenses increased by 0.7% to $12.4 million.
- Sales and marketing expenses rose by 7% due to increased marketing events and advertising costs.
- Research and development expenses increased by 7.5% due to additional headcounts and related personnel costs.
Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to Perfect Corps' second-quarter 2024 earnings conference call. (Operator Instructions) Please note that today's event is being recorded. I will now turn the conference over to the first speaker today, Mr. Jimmy Shu, Director, IR Director of the company, please go ahead.
Thank you. And hello, everyone. Welcome to Perfect Corp's second-quarter 2024 call. With us today are Ms. Alice Chang, our Founder, Chairwoman, and Chief Executive Officer; Mr. Louis Chen, our Executive Vice President and Chief Strategy Officer; and Ms. Iris Chen, Vice President of Finance and Accounting. You can refer to our second-quarter 2024 financial results on our ION website or in the form 6-K we filed with SEC earlier.
A replay of this call will also be available on our website shortly after its conclusion. For today's call, management will provide our prepared remarks, followed by a Q&A session.
Before we continue, I would like to
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