What is the market's earnings forecast for Peraso next quarter?

What is the revenue and EPS growth rate for Peraso year over year?

What were the key takeaways from Peraso’s earnings call?

What does Peraso do and what are its main business segments?

What is Peraso's gross profit margin?

What is Peraso's latest dividend and current dividend yield?

What guidance did Peraso's management provide for the next earnings period?

Did Peraso beat or miss consensus estimates last quarter?

**Key Takeaways**:
- **Revenue Surge**: mmWave product revenue grew 6x YoY, driven by FWA and tactical wins.
- **Q1 2026 Risk**: $0.5M order delay from supplier customs issue, reducing Q1 revenue to $1.2M.
- **New Markets**: Expanding into Edge AI (robotaxi) and drone ID systems, with 3-5 high-potential customers.
- **Financial Health**: Full-year GAAP gross margin 58%, cash balance $2.9M, and disciplined expense management.
- **Tactical Growth**: InTACT deal transitions to production in H2 2026, with potential $1+M annual revenue.

**【Management Opening Remarks】**
- CFO Jim Sullivan outlined the call structure, emphasizing forward-looking statements and non-GAAP financial measures. The company provided a slide presentation and filed a Form 8-K with the SEC.

**【CEO Commentary】**
- **Revenue Growth**: Full-year 2025 mmWave product revenue grew 6x YoY, driven by fixed wireless access (FWA) and tactical communications. Q4 mmWave revenue was $2.4M, up from $0.2M in Q4 2024.
- **Key Wins**: 
  - FWA: Collaborations with Tachyon, WeLink, and MikroTik's Q1 2026 product launch.
  - Tactical: $0.5M+ order delay from a supplier customs issue, impacting Q1 2026 revenue.
- **New Markets**: Edge AI partnerships (e.g., Virewirx robotaxi) and drone identification systems with InTACT.
- **Gross Margin**: Full-year GAAP gross margin 58%, up from 51.7% YoY, driven by higher mmWave shipments.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: 
  - Total revenue: $2.9M (down 10% QoQ, 22% YoY decline due to memory IC EOL).
  - GAAP net loss: $1.2M ($0.13 EPS), improved from $1.6M YoY.
  - Cash balance: $2.9M, up $1M QoQ from ATM sales.
- **2026 Outlook**: Q1 revenue expected $1.2M (excluding delayed $0.5M order), with visibility on FWA replenishment in Q3/Q4.

**【Q&A Highlights】**
- **InTACT Deal**: 90% NRE revenue in 2026, shifting to production in H2 2026. Potential $1+M annual revenue from 3-5 adjacent market customers.
- **Supply Chain Risk**: Asia-based supplier delay causing 2-3 week pipeline shift, no long-term impact on production.
- **R&D Strategy**: Customer-funded NRE to minimize risk, maintaining gross margin discipline.

Peraso Inc. (PRSO) Q4 2025 Earnings Call Transcript

- **Revenue Surge**: Q3 mmWave revenue up 45% QoQ, driven by fixed wireless and new OEM wins.
- **Margin Expansion**: 56.2% gross margin vs. 48.3% prior quarter, targeting 50%+ sustainably.
- **Strategic Breakthroughs**: Field trials complete for military mmWave solution; exploring edge AI applications.
- **Q4 Outlook**: $2.8-3.1 million revenue guided, with $0.375 million memory tailwind.
- **Pipeline Growth**: 10+ preproduction SKUs in pipeline, up from 5 in Q2.

**【CEO Summary Section】**
- **Record Revenue Growth**: Q3 2025 mmWave product revenue reached $3 million, up 45% sequentially and 2,900% year-over-year, driven by fixed wireless access demand.
- **Gross Margin Expansion**: Achieved 56.2% GAAP gross margin (mid-50% target) due to favorable product mix and inventory management.
- **New Market Wins**: Secured first-time OEM customer for mmWave modules, with potential to expand into defense and edge AI applications.
- **Pipeline Momentum**: 10+ preproduction SKUs in pipeline, up from 5 in Q2, reflecting diversifying end markets.
- **Tactical Defense Breakthrough**: Completed field trials of mmWave-based mobile communication system for military applications, targeting Q2 2026 production.
- **Edge AI Expansion**: Exploring mmWave for high-bandwidth video streaming in autonomous vehicles, drones, and last-mile delivery.

**【CFO Financial Commentary】**
- **Q3 Financials**: 
  - Total revenue: $3.2 million (up 45% QoQ, down 16% YoY due to legacy memory IC phaseout)
  - GAAP net loss: $1.1 million (-$0.15 EPS)
  - Cash balance: $1.9 million (up $0.1 million QoQ)
- **Q4 Outlook**: Revenue guidance of $2.8-3.1 million, driven by mmWave orders and $0.375 million in high-margin memory product shipments.
- **Cost Management**: Operating expenses down 12% YoY to $3 million, with non-GAAP OpEx at $2.9 million.
- **Gross Margin Sustainability**: Targeting 50%+ gross margin, with Q3 benefit from inventory write-downs expected to moderate.

**【Q&A Highlights】**
- **Customer Production Timelines**: 
  - Fixed wireless: 9-12 months from engagement to mass production
  - Tactical defense: 12-15 months due to customization needs
  - Edge AI: 12-15 months for new market entries
- **Working Capital Strategy**: 
  - AR collections >70% within 30 days
  - Inventory builds aligned with backlog visibility, avoiding excess stock
- **Gross Margin Drivers**: 
  - mmWave product mix (91% of Q3 revenue)
  - Memory product tailwinds ($0.375 million Q4 contribution)
  - Regulatory approvals completed for 90% of pipeline SKUs

Peraso Inc. (PRSO) Q3 2025 Earnings Call Transcript

- **Revenue Surge**: Q2 mmWave revenue up 45% QoQ and 200% YoY, driven by fixed wireless and defense wins.
- **Market Leadership**: 2 million cumulative mmWave shipments, solidifying 60 GHz technology dominance.
- **Strategic Wins**: Tachyon partnership delivers breakthrough fixed wireless solution; defense contractor deployment validates tactical mmWave applications.
- **Financial Improvement**: Operating expenses down 10% YoY; GAAP net loss narrows 64% YoY to $1.8 million.
- **Growth Visibility**: Q3 revenue guidance $2.8-3.1 million, backed by 14 production customers and 7 preproduction engagements.
- **Regulatory Tailwind**: BEAD funding shift supports cost-effective fixed wireless deployments.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 2025 mmWave product revenue reached $2.2 million, up 45% sequentially and 200% year-over-year, driven by fixed wireless access and tactical defense solutions.
- **Milestone Achievement**: Cumulative shipments of mmWave devices surpassed 2 million, reflecting market leadership in 60 GHz solutions.
- **Strategic Wins**: 
  - Tachyon Networks selected Peraso's modules for their outdoor 60 GHz fixed wireless solution, offering gigabit connectivity and compatibility with existing infrastructure.
  - Defense contractor partnership resulted in initial production shipments of mmWave solutions for tactical communication systems, enabling stealthy, low-latency data transmission.
- **Pipeline Expansion**: 14 customers now in production (up from 7 in Q4 2023), with 7 preproduction engagements, supporting Q3 revenue expectations of $2.8-3.1 million.

**【CFO Financial Commentary】**
- **Revenue Performance**: Total net revenue $2.2 million (down 44% QoQ, up 5% YoY), with mmWave products accounting for all revenue.
- **Gross Margin**: GAAP and non-GAAP gross margin 48.3%, down from 69.3% QoQ due to exclusive reliance on mmWave products.
- **Cost Management**: Operating expenses decreased 10% YoY to $2.9 million (GAAP) and $2.7 million (non-GAAP), driven by reduced stock-based compensation and cost containment.
- **Net Loss**: GAAP net loss $1.8 million (-$0.31/share), narrowing 64% YoY. Non-GAAP net loss $1.7 million (-$0.28/share), improving 19% YoY.
- **Balance Sheet**: $1.8 million cash as of Q2 end, with $1.1 million raised via ATM program. Board exploring strategic alternatives, including potential sale or merger.

**【Q&A Highlights】**
- **Military Segment**: CEO highlighted stealth capabilities of mmWave technology for tactical communications, with NRE deals supporting custom designs for defense applications. Drone-related opportunities under evaluation.
- **Balance Sheet & Liquidity**: CFO stated cash runway extends into Q4 2025, with $1.8 million on hand. NRE deals (e.g., $600k+ in Q2) offset engineering costs without requiring headcount additions.
- **Inventory Management**: Inventory digestion progressing, with key customer orders replenishing chipset components. Remaining inventory spoken for in future shipments.
- **Regulatory Support**: Positive impact of BEAD funding shift to technology-neutral broadband deployment, benefiting fixed wireless access rollouts.


Peraso Inc. (PRSO) Q2 2025 Earnings Call Transcript

- **mmWave revenue surge**: Q1 mmWave revenue ($1.5M) exceeded full-year 2024 total, with 68 commercial products in production
- **Defense breakthrough**: $3.4M addressable market for stealth mmWave tactical comms, initial shipments Q2
- **Gross margin improvement**: 69.3% GAAP margin vs. 46.4% YoY, driven by cost control and product mix
- **Q2 growth visibility**: $1.8-2.0M revenue guidance, 10+ new pipeline opportunities maturing
- **Innovation momentum**: 25% YoY pipeline expansion to 120 opportunities, 48-endpoint PERSPECTUS upgrade enables 50% network capacity boost

**【CEO Opening Remarks】**
- Q1 2025 revenue reached $3.9M, up 40% YoY from $2.8M, driven by mmWave product revenue of $1.5M (vs. $0.3M in Q1 2024). 
- mmWave revenue exceeded full-year 2024 totals, with 68 commercial products in production across 14 customers.
- Pipeline expanded to 120 commercial opportunities (+25% YoY), including 10 production-stage deals.
- Key milestones: 
  - PERSPECTUS module upgrade enabling 50% more endpoints per access point
  - PRM2141X-D module for high-mobility body-worn applications
  - New defense contract for stealth mmWave tactical communications
- Defense market addressable size: ~3.4M active military personnel globally.

**【CFO Financial Highlights】**
- GAAP gross margin: 69.3% (vs. 56.3% QoQ, 46.4% YoY), driven by favorable product mix and reduced intangible amortization.
- Non-GAAP gross margin: 69.3% (vs. 71.6% QoQ, 66.4% YoY)
- GAAP net loss: $0.5M (-$0.10/share) vs. $1.6M (-$0.37/share) prior quarter
- Sequential revenue growth expected in mmWave, with Q2 guidance of $1.8-2.0M.

**【Key Q&A Takeaways】**
- Visibility: Q2 backlog includes defense shipments and Ubiquiti order ($3.6M)
- Tariff impact: Minimal due to non-US production
- Product adoption: Software-upgradeable PERSPECTUS modules enable immediate customer benefits
- Defense expansion: Global interest in stealth mmWave comms, with initial shipments Q2
- BEAD funding: Expected to drive rural fixed wireless growth in H2 2025

Peraso (PRSO)-12 May 25-2025 Q1 Earnings call transcript

- **Revenue Surge**: Q4 2024 revenue up 100% YoY to $3.7 million, driven by memory IC end-of-life shipments and mmWave growth.
- **$3.6M Order**: Strategic FWA customer purchase to fuel 2025 mmWave revenue, expected to exceed full-year 2024 levels.
- **Military Breakthrough**: First production orders for secure mmWave comms in Q2 2025, expanding into drone and infrastructure applications.
- **BEAD Opportunity**: U.S. government shift to tech-neutral broadband funding could accelerate mmWave adoption in 2025.
- **Financial Health**: GAAP net loss narrowed to $1.6M in Q4; cash position strengthened to $3.3M, supporting growth initiatives.
- **Gross Margin Target**: Aiming for 50%+ as mmWave scales; 2025 margins to improve with production ramp and inventory utilization.

**【CEO Summary Section】**
- **Revenue Growth**: Q4 2024 revenue of $3.7 million, up 100% YoY, driven by end-of-life memory IC shipments and mmWave solutions.
- **Memory IC Completion**: Final $3.4 million shipments in Q4, completing $12.9 million full-year backlog; remaining $2.3 million to be fulfilled in March 2025.
- **New Purchase Order**: $3.6 million order from a strategic FWA customer, expected to fulfill in 2025 with revenue weighted to the second half.
- **mmWave Momentum**: 60+ commercial products in production across 11 customers; DUNE platform gaining traction in dense urban deployments.
- **Military Expansion**: First military production orders expected in Q2 2025, targeting secure, undetectable communications; pipeline includes drone and infrastructure applications.
- **BEAD Program**: U.S. government shift to tech-neutral funding could accelerate mmWave adoption; NTIA's updated guidance supports unlicensed spectrum use.

**【CFO Financial Commentary】**
- **GAAP Results**: Q4 2024 net loss of $1.6 million (-$0.37 EPS), improving from $8.9 million loss in Q4 2023; full-year 2024 loss of $10.7 million (-$3.57 EPS).
- **Non-GAAP Metrics**: Q4 non-GAAP net loss of $0.5 million (-$0.13 EPS), up from $6.1 million loss in Q4 2023; full-year non-GAAP loss of $5.1 million (-$1.71 EPS).
- **Gross Margin**: Q4 GAAP gross margin 56.3%, up from -147.3% YoY; non-GAAP 71.6%, up from -116.6% YoY, driven by memory IC shipments.
- **Operating Expenses**: Q4 GAAP expenses $3.7 million, down 33% YoY; non-GAAP $3.2 million, down 20% YoY, reflecting cost reductions.
- **Cash Position**: $3.3 million as of Q4 2024, up from $1.3 million Q3 2024, supported by warrant exercises and ATM sales.
- **Q1 2025 Outlook**: Revenue expected $3.6-$4.0 million, up YoY, with mmWave revenue exceeding full-year 2024 levels.

**【Q&A Highlights】**
- **Order Fulfillment**: $3.6 million FWA order to ship linearly through 2025, weighted to Q3/Q4; military orders expected Q2 2025.
- **Customer Diversification**: 20% YoY increase in pipeline opportunities (100+ engagements); reduced reliance on two major customers.
- **AI Edge Applications**: mmWave solutions enabling high-speed data transfer for AI at the edge, with enterprise deployments underway.
- **BEAD Impact**: Potential 2025 contributions from tech-neutral funding; long-term opportunity for mmWave in rural broadband.
- **Gross Margin Outlook**: Targeting 50%+ gross margin as mmWave scales; 2025 margins to benefit from inventory write-downs and production ramp.


Peraso (PRSO)-19 Mar 25-2024 Q4 Earnings call transcript

Peraso (PRSO)-12 Nov 24-2024 Q3 Earnings call transcript

Peraso (PRSO)-12 Aug 24-2024 Q2 Earnings call transcript

Peraso (PRSO)-13 May 24-2024 Q1 Earnings call transcript

- **Revenue Recovery**: Q1 2024 guidance of $2.6-2.9M signals return to growth, with full year double-digit expansion driven by $12M memory IC backlog. 
- **mmWave Momentum**: First commercial DUNE platform win and 25 active customer engagements highlight urban market expansion. 
- **Cash Position**: $3.4M from recent equity offering bolsters liquidity for growth initiatives. 
- **Cost Efficiency**: Non-GAAP operating expenses down 31% YoY, supporting margin improvement.

**【CEO Summary Section】**
- **Revenue Outlook**: Anticipates revenue growth resuming in Q1 2024 with double-digit growth for the full year, driven by $12 million of memory IC backlog and new mmWave orders. 
- **Memory IC End-of-Life**: $14 million in end-of-life orders received, with $10.3 million remaining backlog as of Q4. Expected to fulfill majority over next 12 months. 
- **mmWave Expansion**: Active engagements increased from 18 to 25, with growing focus on urban applications outside North America. Introduced DUNE platform for dense urban environments, securing first commercial win. 
- **Aerospace & Defense**: Early-stage opportunities in military defense applications, leveraging mmWave's directional beamforming capabilities. 

**【CFO Financial Commentary】**
- **Q4 2023 Results**: Total revenue $1.8M (down 60% YoY), GAAP net loss $8.9M, non-GAAP net loss $6.1M. Gross margin negative due to inventory write-downs. 
- **Q1 2024 Guidance**: Revenue $2.6-2.9M, driven by memory IC shipments. Cash position strengthened by $3.4M public offering proceeds. 
- **Cost Management**: Non-GAAP operating expenses reduced 31% YoY to $16.4M, reflecting cost containment efforts. 

**【Q&A Highlights】**
- **Demand Nature**: CEO attributes improving order flow to both inventory correction completion and genuine demand for fixed wireless access. 
- **Growth Trajectory**: Memory IC shipments to ramp in Q2-Q3, while mmWave growth expected to accelerate in Q3+ with DUNE platform adoption. 
- **Design Cycle**: Time to market reduced to 6-12 months (vs. 2 years historically), enabled by partnerships with experienced manufacturers. 
- **Global TAM**: Increasing interest in urban deployments outside North America, driven by mmWave's ability to handle dense connectivity in emerging markets.

Actual								-23.2								-8.8	-8	-5.2	-6	-4.8	-1.6	-8.52	-0.83	-0.88	-0.34	-0.13	-0.08	-0.28	-0.15	-0.13
Forecast																	-8	-6.8	-4	-3.8	-4	-3.76	-1.325	-0.3633	-0.1933	-0.2733	-0.16	-0.455	-0.25	-0.18
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+23.53%	-50.00%	-26.32%	+60.00%	-126.60%	+37.36%	-142.22%	-75.89%	+52.43%	+50.00%	+38.46%	+40.00%	+27.78%

Actual	--	--	--	--	--	--	--	1.26M	--	--	--	--	--	--	--	4.28M	3.29M	3.89M	5.03M	2.40M	4.48M	1.83M	2.82M	4.24M	3.84M	3.68M	3.87M	2.22M	3.23M	2.87M
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	4.40M	3.92M	4.55M	4.26M	3.05M	1.70M	2.65M	4.12M	4.04M	3.81M	3.79M	2.01M	3.04M	2.96M
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-25.14%	-0.97%	+10.62%	-43.66%	+47.04%	+7.76%	+6.26%	+2.95%	-4.93%	-3.51%	+2.15%	+10.31%	+6.32%	-2.91%

PRSO

PRSO fundamentals

PRSO Q4 2025 Earnings

Earnings Call

You can ask Aime

PRSO

PRSO fundamentals

PRSO Q4 2025 Earnings

Earnings Call

PRSO Earnings Call Summary for Q4/20254:00 PM on Mar 16, 2026

PRSO Earnings Call Summary for Q3/20254:30 PM on Nov 10, 2025

PRSO Earnings Call Summary for Q2/20251:30 PM on Aug 11, 2025

PRSO Earnings Call Summary for Q1/20254:30 PM on May 12, 2025

PRSO Earnings Call Summary for Q4/20245:00 PM on Mar 19, 2025

You can ask Aime