Quarterly ResultMay 14, 2026, 04:14 PM
Peraso Q1 Net Loss $(2.5)M; Revenue $(2.9)M YoY; Going Concern Doubt
AI Summary
Peraso Inc. reported a net loss of $(2.5) million for the first quarter of 2026, a significant increase from $(0.5) million in the prior year. Total net revenue decreased substantially to $0.96 million from $3.87 million year-over-year. The company's management and independent auditors have expressed substantial doubt about its ability to continue as a going concern due to recurring losses and negative cash flows.
Key Highlights
- Net loss for Q1 2026 was $(2.5) million, compared to $(0.5) million in Q1 2025.
- Total net revenue for Q1 2026 decreased to $0.96 million from $3.87 million in Q1 2025.
- Product revenue fell to $0.67 million in Q1 2026 from $3.80 million in Q1 2025.
- Basic and diluted net loss per share was $(0.22) in Q1 2026, up from $(0.08) in Q1 2025.
- Cash and cash equivalents decreased to $2.67 million as of March 31, 2026, from $2.89 million at December 31, 2025.
- Net cash used in operating activities increased to $(2.35) million in Q1 2026 from $(0.97) million in Q1 2025.
- Management and auditors expressed substantial doubt about the company's ability to continue as a going concern.
- The company raised $2.30 million from at-the-market stock sales in Q1 2026.