Quarterly ResultMay 11, 2026, 04:32 PM
Peraso Q1 Revenue $1.0M, Net Loss Widens to $2.5M
AI Summary
Peraso Inc. announced significantly lower financial results for Q1 2026, with total net revenue falling to $1.0 million, a 74.4% year-over-year decrease. The company reported a GAAP net loss of $2.5 million, or ($0.22) per share, compared to a $0.5 million loss in Q1 2025. Management attributed the revenue decline to a delayed customer order due to material shortages, which has since been shipped, and irregular order patterns. Despite challenges, Peraso noted growing interest in its mmWave technology, particularly in tactical communications, and delivered initial production shipments to a lead Israeli defense customer.
Key Highlights
- Total net revenue for Q1 2026 was $1.0 million, down 74.4% from $3.9 million in Q1 2025.
- Product revenue decreased to $0.7 million in Q1 2026, an 81.6% drop from $3.8 million in Q1 2025.
- GAAP net loss for Q1 2026 was $2.5 million, or ($0.22) per share, compared to a $0.5 million loss in Q1 2025.
- Non-GAAP net loss was $2.3 million, or ($0.20) per share, significantly wider than $0.4 million in Q1 2025.
- Adjusted EBITDA was negative $2.3 million, worsening from negative $0.3 million in Q1 2025.
- Gross margin was 61.5% in Q1 2026, up sequentially but down from 69.3% year-over-year.
- A significant customer order was delayed in Q1 due to material shortages but shipped in Q2.
- Initial production shipments of 60GHz modules were delivered to Israeli defense customer InTACT in April.