{"success":true,"data":{"pressRelease":{"id":"111264","rtpr_id":"nBw37jzT7a","ticker":"PDC","exchange":"NASDAQ","all_tickers":["PDC"],"title":"Perpetuals Reports 380% Hypothetical Return in Backtest of AI Engine Powering Risk-Free Trading Platform ‘UpsideOnly’","author":"Business Wire","published_at":"2026-08-06T12:00:01.504Z","article_body":"Perpetuals Reports 380% Hypothetical Return in Backtest of AI Engine Powering\nRisk-Free Trading Platform ‘UpsideOnly’\n\n\n * Results provide early evidence that BayesShield can identify potentially\nprofitable trading signals by finding repeatable skill in trader activity\n\n * 375-day backtest using Perpetuals’s production code generated a hypothetical\n380% non-compounded return, a period in which Bitcoin fell 40.2%\n\n * The strategy achieved a return-to-drawdown ratio of 4.4, a measure comparing\nits overall return with the largest decline it experienced during the test\n\nPerpetuals.com Ltd\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fperpetuals.com&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=Perpetuals.com+Ltd&index=1&md5=08262bf9846f3347afbd366227977175)\n(Nasdaq: PDC) today announced backtest results for version two of BayesShield,\nits patent-pending AI engine developed for UpsideOnly\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fupsideonly.com&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=UpsideOnly&index=2&md5=9a02d83c8a1de0d0133d2d4b6f4e378b)\n.\n\nUpsideOnly is a risk-free paper trading platform where users simulate trades\nusing virtual money across global equity, commodity, foreign exchange and\ncrypto markets. The platform is powered by BayesShield, an AI model that uses\nmachine learning to identify consistently successful traders. It generates\nautomated signals when enough qualified traders independently take the same\nposition at approximately the same time. These signals inform UpsideOnly's\ntrading strategies, with profits shared among eligible top-performing users.\n\nUsing the same production code that powers the live platform, Perpetuals\nreplayed approximately 1.07 billion historical order fills. Over the 375-day\ntest period, the strategy generated a hypothetical, non-compounded return of\n380%, with a maximum drawdown, meaning its largest decline from a previous\npeak, of 27%. It achieved a return-to-drawdown ratio of 4.4, indicating that\nits overall gains were substantially greater than its largest setback during\nthe test.\n\nStarting with $400,000 in simulated deployed capital, the system generated\n$1.522 million in hypothetical profit, ending the test with $1.922 million. If\nreplicated in live markets, the results point to a different role for AI in\ntrading: identifying repeatable human skill across large volumes of market\nactivity and turning it into automated trading signals, rather than trying to\npredict prices directly.\n\nEncouragingly, the strategy remained resilient under market stress. It\nrecorded a positive return in every calendar quarter and zero liquidations\nacross the 375-days, a period when Bitcoin fell 40.2%. During the sharp market\nsell-off on October 10, 2025, the system was essentially flat, declining by\njust 0.7%, while Bitcoin fell 16% within hours.\n\n\"This massive backtesting effort has provided promising signals that our\nBayesShield AI algorithm is working as intended,” said Patrick Gruhn, CEO of\nPerpetuals. \"Our early live, real-money results have been encouraging and\ngenerally consistent with this testing”\n\nThis testing protocol was designed to reduce bias and prevent the use of\nfuture information, drawing on data from more than 429,000 trading accounts,\n70.8 million positions sourced from PM MTF Ltd and more than 22 billion\nhistorical retail trades.\n\nUpsideOnly launched in May 2026 and now has more than 225,000 users and\nrecorded $70 billion in simulated notional trading volume across 25 assets.\nThe live trading period remains too limited to draw conclusions about future\nperformance.\n\nAbout Perpetuals.com Ltd\n\nPerpetuals.com Ltd (Nasdaq: PDC) is a fintech company developing AI-powered\ntrading products and prediction markets, with a global footprint across the\nUnited States, Europe, and Asia. Its mission is to reduce risk through\nempowering retail users with intuitive, secure, and efficient trading\nexperiences that span the world’s capital markets. UpsideOnly, the company's\nflagship consumer product, is the first risk-free trading platform, pairing\nhuman market insight with proprietary BayesShield AI so users can share in\ntrading profits without ever risking their own money.\n\nPerpetuals’s proprietary AI system, BayesShield AI, combines advanced AI and\ndata analysis. The technology is trained on billions of trades, monitors\nmarket activity in real time, identifies patterns for trading and risk\ndecisions, and provides multi-asset coverage. The company’s technology is\nused by the EU-licensed Perpetual Markets Multilateral Trading Facility (MTF),\nPM MTF Ltd, which operates under full MiFID II, MiCA, DORA, and EMIR\ncompliance.\n\nForward-Looking Statements: This press release contains forward-looking\nstatements as defined within the meaning of the Private Securities Litigation\nReform Act of 1995, including, but not limited to, statements regarding the\nanticipated profitability to the company and users of UpsideOnly. Words such\nas “expect,” “will,” “positions,” “advancing,”\n“projected,” “anticipated,” and other similar expressions indicate\nforward-looking statements, though not all forward-looking statements contain\nsuch words. These statements reflect the company’s current view with respect\nto future events and are subject to risks and uncertainties that could cause\nactual results to differ materially. The performance results described in this\nrelease are derived from a back-test conducted using historical data under\nspecified assumptions and methodologies. Back-tested results are achieved\nthrough the application of hindsight and do not represent the results of\nactual trading or live operation. Such results are subject to inherent\nlimitations, including assumptions regarding historical data, model design,\nand analytical methodology, and may not reflect the impact of market\nconditions, execution factors, transaction costs, liquidity constraints, or\nother variables that could affect actual performance. Past or simulated\nperformance is not indicative of future results, and there can be no assurance\nthat similar results will be achieved in actual operation. Future results are\nsubject to, among other things, the efficacy and accuracy of BayesShield AI,\nregulatory scrutiny, continued user participation in the UpsideOnly platform,\nmarket conditions, the issuance and enforceability of the patent covering\nBayesShield AI, the company’s ability to raise capital to support the\noperation of the UpsideOnly platform, and risks detailed in the company’s\nfilings with the Securities and Exchange Commission. Forward-looking\nstatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by the company, are inherently subject to\nsignificant business, economic, competitive, political, regulatory, and social\nuncertainties and contingencies. Should one or more of these risks or\nuncertainties materialize, or should the assumptions set out by the company\nunderlying those forward-looking statements prove incorrect, actual results\nmay vary materially from those described herein. Individuals are cautioned\nthat forward-looking statements are not guarantees of future performance and\naccordingly investors are cautioned not to put undue reliance on\nforward-looking statements due to the inherent uncertainty therein. These\nforward-looking statements are made as of the date of this press release and\nthe company does not undertake any obligation to update these forward-looking\nstatements, except as required by law. Perpetuals.com Ltd has an option\nagreement to acquire the affiliate company PM MTF Ltd, which will require a\nchange of control approval by CySEC if exercised. Risk-free trading means that\nno losses from trading losses can occur to users, but does not include risks\nfrom other sources, including, but not limited to, the operational risks of\nthe company.\n\nWe may use blog posts on our website\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fperpetuals.com%2F&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=website&index=3&md5=1a36cff0c1de6225092edcdf97ba7806)\nas well as our social media accounts, including our accounts on X\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fx.com%2FPerpetuals_com&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=X&index=4&md5=2c6dcfe20766fb773578bfed57d8db07)\n, LinkedIn\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Flinkedin.com%2Fcompany%2Fperpetuals-com-group&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=LinkedIn&index=5&md5=c55d0095851f4942524a5a8c3aa1b5b6)\n, and Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2Fpeople%2FPerpetualscom-Nasdaq-PDC%2F61575388636327%2F&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=Facebook&index=6&md5=7cb86dde24ce299609a4619ad9e0f0e6)\n, to disclose material information about the company from time to time.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260806555881/en/\n(https://www.businesswire.com/news/home/20260806555881/en/)\n\nMedia Contact: press@perpetuals.com \n(mailto:press@perpetuals.com) \nInvestor Relations: ir@perpetuals.com (mailto:ir@perpetuals.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw37jzT7a","title":"Perpetuals Reports 380% Hypothetical Return in Backtest of AI Engine Powering Risk-Free Trading Platform ‘UpsideOnly’","author":"Business Wire","ticker":"PDC","created":"2026-08-06T12:00:01.504Z","tickers":["PDC"],"exchange":"NASDAQ","article_body":"Perpetuals Reports 380% Hypothetical Return in Backtest of AI Engine Powering\nRisk-Free Trading Platform ‘UpsideOnly’\n\n\n * Results provide early evidence that BayesShield can identify potentially\nprofitable trading signals by finding repeatable skill in trader activity\n\n * 375-day backtest using Perpetuals’s production code generated a hypothetical\n380% non-compounded return, a period in which Bitcoin fell 40.2%\n\n * The strategy achieved a return-to-drawdown ratio of 4.4, a measure comparing\nits overall return with the largest decline it experienced during the test\n\nPerpetuals.com Ltd\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fperpetuals.com&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=Perpetuals.com+Ltd&index=1&md5=08262bf9846f3347afbd366227977175)\n(Nasdaq: PDC) today announced backtest results for version two of BayesShield,\nits patent-pending AI engine developed for UpsideOnly\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fupsideonly.com&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=UpsideOnly&index=2&md5=9a02d83c8a1de0d0133d2d4b6f4e378b)\n.\n\nUpsideOnly is a risk-free paper trading platform where users simulate trades\nusing virtual money across global equity, commodity, foreign exchange and\ncrypto markets. The platform is powered by BayesShield, an AI model that uses\nmachine learning to identify consistently successful traders. It generates\nautomated signals when enough qualified traders independently take the same\nposition at approximately the same time. These signals inform UpsideOnly's\ntrading strategies, with profits shared among eligible top-performing users.\n\nUsing the same production code that powers the live platform, Perpetuals\nreplayed approximately 1.07 billion historical order fills. Over the 375-day\ntest period, the strategy generated a hypothetical, non-compounded return of\n380%, with a maximum drawdown, meaning its largest decline from a previous\npeak, of 27%. It achieved a return-to-drawdown ratio of 4.4, indicating that\nits overall gains were substantially greater than its largest setback during\nthe test.\n\nStarting with $400,000 in simulated deployed capital, the system generated\n$1.522 million in hypothetical profit, ending the test with $1.922 million. If\nreplicated in live markets, the results point to a different role for AI in\ntrading: identifying repeatable human skill across large volumes of market\nactivity and turning it into automated trading signals, rather than trying to\npredict prices directly.\n\nEncouragingly, the strategy remained resilient under market stress. It\nrecorded a positive return in every calendar quarter and zero liquidations\nacross the 375-days, a period when Bitcoin fell 40.2%. During the sharp market\nsell-off on October 10, 2025, the system was essentially flat, declining by\njust 0.7%, while Bitcoin fell 16% within hours.\n\n\"This massive backtesting effort has provided promising signals that our\nBayesShield AI algorithm is working as intended,” said Patrick Gruhn, CEO of\nPerpetuals. \"Our early live, real-money results have been encouraging and\ngenerally consistent with this testing”\n\nThis testing protocol was designed to reduce bias and prevent the use of\nfuture information, drawing on data from more than 429,000 trading accounts,\n70.8 million positions sourced from PM MTF Ltd and more than 22 billion\nhistorical retail trades.\n\nUpsideOnly launched in May 2026 and now has more than 225,000 users and\nrecorded $70 billion in simulated notional trading volume across 25 assets.\nThe live trading period remains too limited to draw conclusions about future\nperformance.\n\nAbout Perpetuals.com Ltd\n\nPerpetuals.com Ltd (Nasdaq: PDC) is a fintech company developing AI-powered\ntrading products and prediction markets, with a global footprint across the\nUnited States, Europe, and Asia. Its mission is to reduce risk through\nempowering retail users with intuitive, secure, and efficient trading\nexperiences that span the world’s capital markets. UpsideOnly, the company's\nflagship consumer product, is the first risk-free trading platform, pairing\nhuman market insight with proprietary BayesShield AI so users can share in\ntrading profits without ever risking their own money.\n\nPerpetuals’s proprietary AI system, BayesShield AI, combines advanced AI and\ndata analysis. The technology is trained on billions of trades, monitors\nmarket activity in real time, identifies patterns for trading and risk\ndecisions, and provides multi-asset coverage. The company’s technology is\nused by the EU-licensed Perpetual Markets Multilateral Trading Facility (MTF),\nPM MTF Ltd, which operates under full MiFID II, MiCA, DORA, and EMIR\ncompliance.\n\nForward-Looking Statements: This press release contains forward-looking\nstatements as defined within the meaning of the Private Securities Litigation\nReform Act of 1995, including, but not limited to, statements regarding the\nanticipated profitability to the company and users of UpsideOnly. Words such\nas “expect,” “will,” “positions,” “advancing,”\n“projected,” “anticipated,” and other similar expressions indicate\nforward-looking statements, though not all forward-looking statements contain\nsuch words. These statements reflect the company’s current view with respect\nto future events and are subject to risks and uncertainties that could cause\nactual results to differ materially. The performance results described in this\nrelease are derived from a back-test conducted using historical data under\nspecified assumptions and methodologies. Back-tested results are achieved\nthrough the application of hindsight and do not represent the results of\nactual trading or live operation. Such results are subject to inherent\nlimitations, including assumptions regarding historical data, model design,\nand analytical methodology, and may not reflect the impact of market\nconditions, execution factors, transaction costs, liquidity constraints, or\nother variables that could affect actual performance. Past or simulated\nperformance is not indicative of future results, and there can be no assurance\nthat similar results will be achieved in actual operation. Future results are\nsubject to, among other things, the efficacy and accuracy of BayesShield AI,\nregulatory scrutiny, continued user participation in the UpsideOnly platform,\nmarket conditions, the issuance and enforceability of the patent covering\nBayesShield AI, the company’s ability to raise capital to support the\noperation of the UpsideOnly platform, and risks detailed in the company’s\nfilings with the Securities and Exchange Commission. Forward-looking\nstatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by the company, are inherently subject to\nsignificant business, economic, competitive, political, regulatory, and social\nuncertainties and contingencies. Should one or more of these risks or\nuncertainties materialize, or should the assumptions set out by the company\nunderlying those forward-looking statements prove incorrect, actual results\nmay vary materially from those described herein. Individuals are cautioned\nthat forward-looking statements are not guarantees of future performance and\naccordingly investors are cautioned not to put undue reliance on\nforward-looking statements due to the inherent uncertainty therein. These\nforward-looking statements are made as of the date of this press release and\nthe company does not undertake any obligation to update these forward-looking\nstatements, except as required by law. Perpetuals.com Ltd has an option\nagreement to acquire the affiliate company PM MTF Ltd, which will require a\nchange of control approval by CySEC if exercised. Risk-free trading means that\nno losses from trading losses can occur to users, but does not include risks\nfrom other sources, including, but not limited to, the operational risks of\nthe company.\n\nWe may use blog posts on our website\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fperpetuals.com%2F&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=website&index=3&md5=1a36cff0c1de6225092edcdf97ba7806)\nas well as our social media accounts, including our accounts on X\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fx.com%2FPerpetuals_com&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=X&index=4&md5=2c6dcfe20766fb773578bfed57d8db07)\n, LinkedIn\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Flinkedin.com%2Fcompany%2Fperpetuals-com-group&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=LinkedIn&index=5&md5=c55d0095851f4942524a5a8c3aa1b5b6)\n, and Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2Fpeople%2FPerpetualscom-Nasdaq-PDC%2F61575388636327%2F&esheet=54584977&newsitemid=20260806555881&lan=en-US&anchor=Facebook&index=6&md5=7cb86dde24ce299609a4619ad9e0f0e6)\n, to disclose material information about the company from time to time.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260806555881/en/\n(https://www.businesswire.com/news/home/20260806555881/en/)\n\nMedia Contact: press@perpetuals.com \n(mailto:press@perpetuals.com) \nInvestor Relations: ir@perpetuals.com (mailto:ir@perpetuals.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-08-06T12:00:04.521705731Z","server_sent_at_ms":1786017604521},"received_at":"2026-08-06T12:00:04.677Z","source_url":"https://www.businesswire.com/news/home/20260806555881/en/"},"analysis":{"id":"100268","press_release_id":"111264","analysis_json":{"industry":{"label":"Software","sector":"Information Technology"},"redFlags":["Backtest results are hypothetical and do not represent actual trading or live operation","Live trading period remains too limited to draw conclusions about future performance"],"eventType":"operations_update","narrative":"Perpetuals reported a 380% hypothetical return for its BayesShield AI engine over a 375-day backtest, a period during which Bitcoin fell 40.2%.\n\nUsing $400,000 in simulated capital, the strategy generated $1.522 million in profit with a return-to-drawdown ratio of 4.4 and recorded zero liquidations during the test.\n\nThe live UpsideOnly platform currently has over 225,000 users and $70 billion in simulated notional volume, though the company cautioned that the live trading period is too limited to confirm these results.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"380% hypothetical backtest return highlights AI potential, but results remain unproven in live markets."},"keyFigures":{"customDimensions":{"live_users":225000,"max_drawdown":"27%","simulated_profit":"$1.522 million","hypothetical_return":"380%","backtest_period_days":375,"live_simulated_volume":"$70 billion","simulated_end_capital":"$1.922 million","bitcoin_decline_period":"40.2%","simulated_start_capital":"$400,000","return_to_drawdown_ratio":4.4}},"quotedText":"This massive backtesting effort has provided promising signals that our BayesShield AI algorithm is working as intended","namedEntities":{"people":[{"name":"Patrick Gruhn","role":"CEO"}],"products":["BayesShield","UpsideOnly"],"companies":[{"name":"Perpetuals.com Ltd","ticker":"PDC"},{"name":"PM MTF Ltd","relationship":"affiliate/licensed MTF"}],"dollarAmounts":[{"amount":"$400,000","context":"simulated deployed capital"},{"amount":"$1.522 million","context":"hypothetical profit"},{"amount":"$1.922 million","context":"ending simulated capital"},{"amount":"$70 billion","context":"simulated notional trading volume"}]},"materialImpact":{"score":2,"reasoning":"The release highlights strong hypothetical backtest performance for the company's AI engine, but the company explicitly states live trading results are insufficient to draw conclusions and warns that back-tested performance does not guarantee actual results."},"tickerRelevance":{"others":[],"primary":"PDC"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small_cap","eventGravity":"product_backtest_marketing","sectorWeight":"fintech_software"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Perpetuals reported a 380% hypothetical return for its BayesShield AI engine over a 375-day backtest, a period during which Bitcoin fell 40.2%.\n\nUsing $400,000 in simulated capital, the strategy generated $1.522 million in profit with a return-to-drawdown ratio of 4.4 and recorded zero liquidations during the test.\n\nThe live UpsideOnly platform currently has over 225,000 users and $70 billion in simulated notional volume, though the company cautioned that the live trading period is too limited to confirm these results.","key_figures":{"customDimensions":{"live_users":225000,"max_drawdown":"27%","simulated_profit":"$1.522 million","hypothetical_return":"380%","backtest_period_days":375,"live_simulated_volume":"$70 billion","simulated_end_capital":"$1.922 million","bitcoin_decline_period":"40.2%","simulated_start_capital":"$400,000","return_to_drawdown_ratio":4.4}},"named_entities":{"people":[{"name":"Patrick Gruhn","role":"CEO"}],"products":["BayesShield","UpsideOnly"],"companies":[{"name":"Perpetuals.com Ltd","ticker":"PDC"},{"name":"PM MTF Ltd","relationship":"affiliate/licensed MTF"}],"dollarAmounts":[{"amount":"$400,000","context":"simulated deployed capital"},{"amount":"$1.522 million","context":"hypothetical profit"},{"amount":"$1.922 million","context":"ending simulated capital"},{"amount":"$70 billion","context":"simulated notional trading volume"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-06T19:13:45.731Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"small_cap","eventGravity":"product_backtest_marketing","sectorWeight":"fintech_software"}},"durationMs":140516,"modelName":"glm-4.7"}}