Perfect Second Quarter 2024 Earnings: Misses Expectations

Perfect (NYSE:PERF) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$13.9m (up 9.6% from 2Q 2023).
• Net income: US$764.0k (up from US$206.0k loss in 2Q 2023).
• Profit margin: 5.5% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue.
• EPS: US$0.008 (up from US$0.002 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Perfect Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 27%.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are down 3.6% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Perfect's balance sheet.

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