# EDGAR Filing Document

**Accession Number:** 0001899830
**File Stem:** 0001899830-25-000038
**Filing Date:** 2025-10
**Character Count:** 30616
**Document Hash:** 2b2d5a7e59f57e64b4e864ff1d709fb3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001899830-25-000038.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001899830-25-000038

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251028

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Perfect Corp.
- **CENTRAL INDEX KEY:** 0001899830
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41540
- **FILM NUMBER:** 251421240

**BUSINESS ADDRESS:**
- **STREET 1:** 14F., NO. 98, MINQUAN RD.
- **STREET 2:** XINDIAN DISTRICT
- **CITY:** NEW TAIPEI CITY
- **STATE:** F5
- **ZIP:** 231
- **BUSINESS PHONE:** 886-2-8667-1265

**MAIL ADDRESS:**
- **STREET 1:** 14F., NO. 98, MINQUAN RD.
- **STREET 2:** XINDIAN DISTRICT
- **CITY:** NEW TAIPEI CITY
- **STATE:** F5
- **ZIP:** 231

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of October, 2025**

**Commission File Number: 001-41540**

**Perfect Corp.**

**14F, No. 98 Minquan Road**

**Xindian District**

**New Taipei City 231**

**Taiwan**

**(Address of principal executive office)**

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 <br> Form 20-F ☒ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

    

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**INCORPORATION BY REFERENCE**

The information included in this Report on Form 6-K (including Exhibit 99.1, but excluding the quotation by the Company's Founder, Chairwoman, and Chief Executive Officer) is hereby incorporated by reference into the Company's Registration Statement on Form F-3 (File No. 333-274835) (including any prospectuses forming a part of such registration statements) and to be a part thereof from the date on which this Report on Form 6-K is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

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**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit** | **Description of Exhibit** |
| [99.1](a2025q3financialresults_pe.htm) | [Press Release of the Company, dated](a2025q3financialresults_pe.htm)[October](a2025q3financialresults_pe.htm)[2](a2025q3financialresults_pe.htm)[8](a2025q3financialresults_pe.htm)[, 2025.](a2025q3financialresults_pe.htm) |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | **Perfect Corp.** | **Perfect Corp.** |
| Date: October 28, 2025 | | |
| | /s/ Alice H. Chang | /s/ Alice H. Chang |
| | Name: | Alice H. Chang |
| | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Perfect Corp. Reports Unaudited Financial Results for the Three Months and the Nine Months Ended September 30, 2025** 

New York – October 28, 2025 – Perfect Corp. (NYSE: PERF) ("Perfect" or the "Company"), a leading artificial intelligence ("AI") company offering AI and augmented reality ("AR") powered solutions to beauty, fashion, photo and video creative industries, today announced its unaudited financial results for the three months ended September 30, 2025 and the nine months ended September 30, 2025.

**<u>Financial Results for the Three Months Ended September 30, 2025</u>**

**Revenue**

Total revenue was $18.7 million for the three months ended September 30, 2025, compared to $16.1 million in the same period of 2024, an increase of 15.7%. The increase was primarily due to strong growth momentum in the revenue of mobile app and web services subscriptions.

• AI- and AR- cloud solutions and subscription revenue was $15.7 million for the three months ended September 30, 2025, compared to $13.4 million in the same period of 2024, an increase of 17.2%. The increase was driven by the continued revenue growth of YouCam mobile app and web services subscriptions, the growing popularity among consumers of Generative AI technologies and AI editing features for photos and videos, and the stable demand for the Company's online virtual product try-on solutions from brand customers.

• Licensing revenue was $2.2 million for the three months ended September 30, 2025, compared to $2.4 million in the same period of 2024, a decrease of 9.5%.

**Gross Profit**

**Total Operating Expenses**

Total operating expenses were $13.7 million for the three months ended September 30, 2025, compared with $13.0 million in the same period of 2024, an increase of 4.7%. The increase was primarily due to increases in sales and marketing expenses and research and development expenses, which were partially offset by a decrease in general and administrative expenses in the third quarter of 2025.

• **Sales and marketing expenses** were $7.9 million for the three months ended September 30, 2025, compared to $7.1 million during the same period of 2024, an increase of 11.6%. This increase was primarily due to an increase in marketing events and advertising expenses related to our mobile apps and web services subscription.

• **Research and development expenses** were $3.9 million for the three months ended September 30, 2025, compared to $3.2 million during the same period of 2024, an increase of 22.4%. The increase was caused by two main factors: (i) the continued foreign exchange impact caused by the depreciation of the U.S. dollar against New Taiwan dollar elevated personnel costs for our Taiwan-based development team, and (ii) the increase in research and development headcount and related compensation expenses following the acquisition of Wannaby Inc. ("Wannaby") in the first quarter of 2025.

• **General and administrative expenses** were $1.7 million for the three months ended September 30, 2025, compared to $2.1 million during the same period of 2024, a decrease of 18.2%. The decrease was primarily due to reduced corporate insurance premium and external professional service fees.

------

**Operating Income/Loss**

Total operating income were $0.5 million for the three months ended September 30, 2025, compared with an operating loss of $0.1 million in the same period of 2024, an increase of $0.6 million turning from a loss to an income position. The increase was primarily driven by higher revenue and gross profit, while operating expenses grew only modestly.

**Net Income**

Net income was $2.1 million for the three months ended September 30, 2025, compared to $2.5 million during the same period of 2024, a decrease of 17.9%. The decrease in net income was primarily due to (i) higher AppStore and GooglePlay platform processing fees, (ii) higher Taiwan personnel costs due to foreign exchange impact by a weaker U.S. dollar, (iii) increases in operating expenses after the acquisition of Wannaby, and (iv) lowered interest income due to decreases in interest rates on the Company's cash reserve.

Beginning with the third quarter of 2025, we will no longer present adjusted net income (loss), as this metric is no longer utilized by our management to assess or evaluate our operating performance.

**Operating Cash Flow**

Operating cash flow was $2.8 million in the three months ended September 30, 2025, compared to $4.2 million in the same period of 2024, a decrease of 34.6%.

**<u>Financial Results for the Nine Months Ended September 30, 2025</u>**

**Revenue**

Total revenue was $51.0 million for the nine months ended September 30, 2025, compared to $44.3 million in the same period of 2024, an increase of 15.1%.

• AI- and AR- cloud solutions and subscription revenue was $44.7 million for the nine months ended September 30, 2025, compared to $38.7 million in the same period of 2024, an increase of 15.4%. The increase was driven by the continued revenue growth of YouCam mobile apps and web services subscriptions.

• Licensing revenue was $4.8 million for the nine months ended September 30, 2025, compared to $4.7 million in the same period of 2024, an increase of 1.0%.

**Gross Profit**

Gross profit was $38.9 million for the nine months ended September 30, 2025, compared with $35.2 million in the same period of 2024, an increase of 10.7%. Gross margin was 76.3% for the nine months ended September 30, 2025, slightly down from 79.4% in the same period of 2024.

**Total Operating Expenses**

Total operating expenses were $40.1 million for the nine months ended September 30, 2025, compared with $37.8 million in the same period of 2024, an increase of 5.9%. The increase was primarily due to increases in research and development and sales and marketing expenses, which were partially offset by a decrease in general and administrative expenses during the period.

• **Sales and marketing expenses** were $23.1 million for the nine months ended September 30, 2025, compared to $21.3 million during the same period of 2024, an increase of 8.5%.

• **Research and development expenses** were $11.5 million for the nine months ended September 30, 2025, compared to $9.2 million during the same period of 2024, an increase of 25.0%.

• **General and administrative expenses** were $5.4 million for the nine months ended September 30, 2025, compared to $6.7 million during the same period of 2024, a decrease of 19.2%.

------

**Operating Loss**

Total operating loss were $1.1 million for the nine months ended September 30, 2025, compared with an operating loss of $2.7 million in the same period of 2024, a decrease of 57.7%. The decrease in operating loss was primarily driven by higher revenue and gross profit, while operating expenses grew only modestly.

**Net Income**

Net income was $4.6 million for the nine months ended September 30, 2025, compared to $3.9 million during the same period of 2024, an increase of 16.7%.

**Operating Cash Flow**

Operating cash flow was $10.8 million in the nine months ended September 30, 2025, compared to $9.8 million in the same period of 2024, an increase of 10.3%. The Company continues to invest in growth while maintaining a healthy cash flow to support business operations underscoring the Company's operational health and sustainability.

**Capital Resource**

As of September 30, 2025, the Company's cash and cash equivalents remained stable at $127.9 million (or $170.1 million when including 6-month time deposits of $36.3 million and money market funds of $5.9 million, which are classified as current financial assets at amortized cost and current financial assets at fair value through profit or loss under IFRS, respectively), compared to $127.1 million (or $165.9 million when including time deposits and money market funds) as of December 31, 2024.

**Key Business Metrics**

• The number of active subscribers for the Company's YouCam mobile apps and web services was 946,000 as of September 30, 2025, compared to over 960,000 as of June 30, 2025, a decrease of 1.5%. This slight decline was as a result of the mobile app subscription plan's average selling price ("ASP") increase initiative introduced in early 2025, which strategically prioritized higher revenue per user and long-term monetization efficiency over short-term volume growth.

• As of September 30, 2025, the Company's cumulative customer base included 842 brand clients, with over 953,000 digital stock keeping units ("SKUs") for makeup, haircare, skincare, shoes, bags, eyewear, watches and jewelry products, compared to 818 brand clients and over 914,000 digital SKUs as of June 30, 2025. The number of Key Customers<sup>1</sup> of the Company as of September 30, 2025 was 142 compared to 139 as of June 30, 2025. The increase is mainly from acquisition of new customer in both makeup and skincare categories.

**CEO Remarks and Business Outlook for 2025**

Ms. Alice H. Chang, the Founder, Chairwoman, and Chief Executive Officer of Perfect commented, "Perfect Corp. continues to demonstrate steady revenue growth and resilience across its business segments. Our foundation remains strong, and our outlook for the future is bright, supported by ongoing AI innovation and expanding opportunities across both consumer and enterprise fronts. As we move through the remainder of 2025 and into 2026, our focus remains on driving sustainable growth through AI innovation and strategic diversification.

Since we founded Perfect Corp., we have always continued to reinvest in the growth of our products and new business. At the same time, we are striving to operate more efficiently and effectively with our work force.

<sup>1</sup> "Key Customers" refers to the Company's brand customers who contributed revenue of more than $50,000 in the trailing 12 months ended on the measurement date.

------

While we have consistently been net income positive, we achieved a milestone in the third quarter of 2025 by reaching operating profit for the first time, compared to operating losses in previous periods. As we align our budget for 2026, we remain focused on continuing to operate with profitability at the forefront.

At the core of our success lies the rapid adoption of generative AI in photo and video applications, which continues to be a key driver of both revenue growth and new subscriber acquisition. These technologies empower users to create photorealistic edits, immersive video effects, and personalized digital content that was once only achievable through professional tools—significantly broadening our appeal and deepening user engagement across the YouCam apps and web services ecosystem.

In parallel, our new application programming interface (API) business is gradually contributing to a new revenue stream. This offering allows third-party developers, agencies, and enterprise partners to integrate our proprietary AI, Generative AI, and AR technologies directly into their own ecosystems. We see tremendous potential in this channel to expand our product reach to a broader range of new clients and unlock new monetization opportunities through scalable, API-driven solutions.

Finally, our traditional B2B enterprise business in the beauty and fashion industries continues to navigate a challenging macroeconomic environment marked by cautious client spending and longer decision cycles. Nevertheless, Perfect Corp. remains the clear market leader in virtual try-on and AI beauty/fashion technology, maintaining deep partnerships with top global and luxury brands. As the luxury and beauty markets regain momentum, we believe Perfect Corp. is exceptionally well-positioned to capture the next wave of industry growth, supported by our proven technology leadership and trusted brand relationships.

Driven by steady revenue growth in both YouCam mobile apps and web service subscriptions, along with sustained demand for our enterprise SaaS solutions, the Company reaffirms its full-year 2025 revenue guidance of 13.0% to 14.5% year-over-year growth compared to 2024. This outlook reflects our most recent assessment of market conditions and internal performance trends and may be adjusted should conditions change."

**About Perfect Corp.**

Founded in 2015, Perfect Corp. is a leading AI company offering self-developed AI- and AR- powered solutions dedicated to transforming the world with digital tech innovations that make your virtual world beautiful. On Perfect's direct consumer business side, Perfect operates a family of YouCam consumer apps and web-editing services for photo, video and camera users, centered on unleashing creativity with AI-driven features for creation, beautification and enhancement. On Perfect's enterprise business side, Perfect empowers major beauty, skincare, fashion, jewelry, and watch brands and retailers by supplying them with omnichannel shopping experiences through AR product try-ons and AI-powered skin diagnostics. With cutting-edge technologies such as Generative AI, real-time facial and hand 3D AR rendering and cloud solutions, Perfect enables personalized, enjoyable, and engaging shopping journey and helps brands elevate customer engagement, increase conversion rates, and propel sales growth. Throughout this journey, Perfect maintains its unwavering commitment to environmental sustainability and fulfilling social responsibilities. For more information, visit https://ir.perfectcorp.com/.

**Forward-Looking Statements**

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This communication contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, or the Exchange Act, that are based on beliefs and assumptions and on information currently available to Perfect. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These statements are based on Perfect's reasonable expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Perfect's control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Perfect to predict these events or how they may affect Perfect. In addition, risks and uncertainties are described in Perfect's filings with the Securities and Exchange Commission. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Perfect cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that Perfect presently does not know or that Perfect currently does not believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Perfect, its directors, officers or employees or any other person that Perfect will achieve its objectives and plans in any specified time frame, or at all. Except as required by applicable law, Perfect does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date of this communication. You should, therefore, not rely on these forward-looking statements as representing the views of Perfect as of any date subsequent to the date of this communication.

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**PERFECT CORP. AND SUBSIDIARIES**

**UNAUDITED CONSOLIDATED BALANCE SHEETS**

**DECEMBER 31, 2024 AND SEPTEMBER 30, 2025**

**(Expressed in thousands of United States dollars)**

---

| | | |
|:---|:---|:---|
| | **December 31,<br>2024** | **September 30,<br>2025** |
|<br>**Assets** | **Amount** | **Amount** |
| **Current assets** | | |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $127121 | $127882 |
| &nbsp;&nbsp;&nbsp;Current financial assets at fair value through profit or loss | 2746 | 5944 |
| &nbsp;&nbsp;&nbsp;Current financial assets at amortized cost | 36000 | 36300 |
| &nbsp;&nbsp;&nbsp;Current contract assets | 977 | 1353 |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 7902 | 9612 |
| &nbsp;&nbsp;&nbsp;Other receivables | 352 | 542 |
| &nbsp;&nbsp;&nbsp;Current income tax assets | 271 | 32 |
| &nbsp;&nbsp;&nbsp;Inventories | 18 | 18 |
| &nbsp;&nbsp;&nbsp;Other current assets | 2522 | 1956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | 177909 | 183639 |
| **Non-current assets** |  |  |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment | 554 | 775 |
| &nbsp;&nbsp;&nbsp;Right-of-use assets | 485 | 713 |
| &nbsp;&nbsp;&nbsp;Intangible assets | 32 | 6420 |
| &nbsp;&nbsp;&nbsp;Deferred income tax assets | 2047 | 2413 |
| &nbsp;&nbsp;&nbsp;Guarantee deposits paid | 146 | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current assets** | 3264 | 10542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $181173 | $194181 |

---

(Continued)

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**PERFECT CORP. AND SUBSIDIARIES**

**UNAUDITED CONSOLIDATED BALANCE SHEETS (continued)**

**DECEMBER 31, 2024 AND SEPTEMBER 30, 2025**

**(Expressed in thousands of United States dollars)**

---

| | | |
|:---|:---|:---|
| | **December 31,<br>2024** | **September 30,<br>2025** |
|<br>**Liabilities and Equity** | **Amount** | **Amount** |
| **Current liabilities** | | |
| &nbsp;&nbsp;&nbsp;Current contract liabilities | $17218 | $23665 |
| &nbsp;&nbsp;&nbsp;Other payables | 11656 | 13753 |
| &nbsp;&nbsp;&nbsp;Other payables – related parties | 46 | 76 |
| &nbsp;&nbsp;&nbsp;Current tax liabilities | 649 | 671 |
| &nbsp;&nbsp;&nbsp;Current provisions | 1899 | 1129 |
| &nbsp;&nbsp;&nbsp;Current lease liabilities | 402 | 458 |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 341 | 377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | 32211 | 40129 |
| **Non-current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;Non-current financial liabilities at fair value through profit or loss | 1793 | 294 |
| &nbsp;&nbsp;&nbsp;Deferred income tax liabilities |  | 497 |
| &nbsp;&nbsp;&nbsp;Non-current lease liabilities | 108 | 281 |
| &nbsp;&nbsp;&nbsp;Net defined benefit liability, non-current | 46 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total non-current liabilities** | 1947 | 1118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | 34158 | 41247 |
| **Equity** |  |  |
| Capital stock |  |  |
| &nbsp;&nbsp;&nbsp;Perfect Class A Ordinary Shares, $0.1 (in dollars) par value | 8506 | 8506 |
| &nbsp;&nbsp;&nbsp;Perfect Class B Ordinary Shares, $0.1 (in dollars) par value | 1679 | 1679 |
| Capital surplus |  |  |
| &nbsp;&nbsp;&nbsp;Capital surplus | 512990 | 514174 |
| Retained earnings |  |  |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (375420) | (370840) |
| Other equity interest |  |  |
| &nbsp;&nbsp;&nbsp;Other equity interest | (740) | (585) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total equity** | 147015 | 152934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and equity** | $181173 | $194181 |

---

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**PERFECT CORP. AND SUBSIDIARIES**

**UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME**

**FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2025**

**(Expressed in thousands of United States dollars)**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended September 30** | **Three months ended September 30** | **Nine months ended September 30** | **Nine months ended September 30** |
| | **2024** | **2025** | **2024** | **2025** |
|<br>**Items** | **Amount** | **Amount** | **Amount** | **Amount** |
| Revenue | $16127 | $18659 | $44321 | $51020 |
| Cost of sales and services | (3171) | (4512) | (9142) | (12092) |
| Gross profit | 12956 | 14147 | 35179 | 38928 |
| Operating expenses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales and marketing expenses | (7090) | (7909) | (21274) | (23079) |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | (2128) | (1740) | (6742) | (5447) |
| &nbsp;&nbsp;&nbsp;Research and development expenses | (3213) | (3932) | (9223) | (11527) |
| &nbsp;&nbsp;&nbsp;Expected credit losses | (602) | (69) | (602) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | (13033) | (13650) | (37841) | (40055) |
| Operating income (loss) | (77) | 497 | (2662) | (1127) |
| Non-operating income and expenses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest income | 1923 | 1546 | 5875 | 4710 |
| &nbsp;&nbsp;&nbsp;Other income | 5 | 12 | 19 | 28 |
| &nbsp;&nbsp;&nbsp;Other gains and losses | 422 | 175 | 131 | 1767 |
| &nbsp;&nbsp;&nbsp;Finance costs | (4) | (5) | (14) | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total non-operating income and expenses | 2346 | 1728 | 6011 | 6494 |
| **Income before income tax** | 2269 | 2225 | 3349 | 5367 |
| &nbsp;&nbsp;&nbsp;Income tax benefit (expense) | 263 | (145) | 577 | (787) |
| **Net income** | $2532 | $2080 | $3926 | $4580 |
| **Other comprehensive income** |  |  |  |  |
| &nbsp;&nbsp;**Components of other comprehensive income (loss) that will be reclassified to profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Exchange differences arising on translation of foreign operations | $257 | $(56) | $6 | $155 |
| **Other comprehensive income (loss), net** | $257 | $(56) | $6 | $155 |
| **Total comprehensive income** | $2789 | $2024 | $3932 | $4735 |
| Net income, attributable to: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shareholders of the parent | $2532 | $2080 | $3926 | $4580 |
| Total comprehensive income attributable to: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shareholders of the parent | $2789 | $2024 | $3932 | $4735 |
| Earnings per share (in dollars) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic earnings per share of Class A and Class B Ordinary Shares | $0.025 | $0.020 | $0.039 | $0.045 |
| &nbsp;&nbsp;&nbsp;Diluted earnings per share of Class A and Class B Ordinary Shares | $0.025 | $0.020 | $0.039 | $0.045 |

---

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**PERFECT CORP. AND SUBSIDIARIES**

**UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2025**

**(Expressed in thousands of United States dollars)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended September 30** | **Three months ended September 30** | **Nine months ended September 30** | **Nine months ended September 30** |
| | **2024** | **2025** | **2024** | **2025** |
|<br>**Items** | **Amount** | **Amount** | **Amount** | **Amount** |
| **<u>CASH FLOWS FROM OPERATING ACTIVITIES</u>** |  |  |  |  |
| Profit before tax | $2269 | $2225 | $3349 | $5367 |
| Adjustments to reconcile profit (loss) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation expense | 197 | 218 | 541 | 645 |
| &nbsp;&nbsp;&nbsp;Amortization expense | 13 | 36 | 39 | 111 |
| &nbsp;&nbsp;&nbsp;Expected credit gains | 602 | 69 | 602 | 2 |
| &nbsp;&nbsp;&nbsp;Interest income | (1923) | (1546) | (5875) | (4710) |
| &nbsp;&nbsp;&nbsp;Interest expense | 4 | 5 | 14 | 11 |
| &nbsp;&nbsp;&nbsp;Net gains on financial assets at fair value through profit or loss |  | (23) |  | (32) |
| &nbsp;&nbsp;&nbsp;Net gains on financial liabilities at fair value through profit or loss | (61) | (621) | (107) | (1657) |
| &nbsp;&nbsp;&nbsp;Share-based payment transactions | 744 | 284 | 2181 | 1184 |
| Changes in operating assets and liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable | (1501) | (1126) | (1635) | (1485) |
| &nbsp;&nbsp;&nbsp;Current contract assets | (462) | (499) | 752 | (373) |
| &nbsp;&nbsp;&nbsp;Other receivables |  | 22 |  |  |
| &nbsp;&nbsp;&nbsp;Inventories |  |  | 12 |  |
| &nbsp;&nbsp;&nbsp;Other current assets | 523 | 257 | 1733 | 619 |
| &nbsp;&nbsp;&nbsp;Current contract liabilities | 919 | 1976 | 2541 | 6285 |
| &nbsp;&nbsp;&nbsp;Other payables | 1106 | 486 | 1055 | 1979 |
| &nbsp;&nbsp;&nbsp;Other payables – related parties | 2 | 13 | 5 | 29 |
| &nbsp;&nbsp;&nbsp;Current provisions | (15) | (278) | (578) | (797) |
| &nbsp;&nbsp;&nbsp;Other current liabilities | 101 | 72 | 34 | 25 |
| &nbsp;&nbsp;&nbsp;Net defined benefit liability, non-current | 1 |  | 2 |  |
| Cash inflow generated from operations | 2519 | 1570 | 4665 | 7203 |
| Interest received | 1875 | 1389 | 5433 | 4570 |
| Interest paid | (4) | (5) | (14) | (11) |
| Income tax paid | (158) | (186) | (334) | (1007) |
| &nbsp;&nbsp;&nbsp;Net cash flows from operating activities | 4232 | 2768 | 9750 | 10755 |
| **<u>CASH FLOWS FROM INVESTING ACTIVITIES</u>** |  |  |  |  |
| Acquisition of financial assets at fair value through profit or loss |  | 232 |  | (5911) |
| Proceeds from disposal of financial assets at fair value through profit or loss |  |  |  | 2746 |
| Acquisition of financial assets at amortized cost | (11104) | (11300) | (55574) | (47600) |
| Proceeds from disposal of financial assets at amortized cost | 13074 | 11300 | 49874 | 47300 |
| Acquisition of subsidiaries, net of cash acquired |  |  |  | (5981) |
| Acquisition of property, plant and equipment | (130) | (253) | (389) | (418) |
| Proceeds from disposal of property, plant and equipment |  |  |  | 1 |
| Acquisition of intangible assets |  |  | (6) |  |
| Increase in guarantee deposits paid |  |  | (8) | (67) |
| &nbsp;&nbsp;&nbsp;Net cash flows from (used in) investing activities | 1840 | (21) | (6103) | (9930) |
| **<u>CASH FLOWS FROM FINANCING ACTIVITIES</u>** |  |  |  |  |
| Repayment of principal portion of lease liabilities | (142) | (116) | (381) | (419) |
| &nbsp;&nbsp;&nbsp;Net cash flows used in financing activities | (142) | (116) | (381) | (419) |
| Effects of exchange rates changes on cash and cash equivalents | 451 | (86) | 40 | 355 |
| **Net increase in cash and cash equivalents** | 6381 | 2545 | 3306 | 761 |
| **Cash and cash equivalents at beginning of period** | 120796 | 125337 | 123871 | 127121 |
| **Cash and cash equivalents at end of period** | $127177 | $127882 | $127177 | $127882 |

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