| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 0.96 | 75.2% |
| Total Income | 0.96 | 75.2% |
| Expenditure | 3.45 | 21.2% |
| PBT | — | |
| Net Profit | -2.50 | 431.9% |
| OPM | — | |
| NPM | — | |
| EPS | -0.22 | 120.0% |
Peraso Announces Q1 2026 Results: Revenue at $1.0 Million
12 May 2026 · 12 May, 2:02 am
Summary
Peraso Inc. reported financial results for the first quarter ended March 31, 2026. Total net revenue was $1.0 million, a decrease from $3.9 million in the same quarter last year. The company's GAAP net loss was $2.5 million, or ($0.22) per share, compared to a net loss of $0.5 million, or ($0.08) per share, in the first quarter of 2025. Management is focused on securing new purchase orders and increasing the conversion rate of existing customer engagements into design wins.
Key Highlights
- 1
Peraso's total net revenue for the first quarter of 2026 was $1.0 million, compared to $3.9 million in the same quarter a year ago.
- 2
Product revenue for Q1 2026 was $0.7 million, a decrease from $3.8 million in the same quarter last year.
- 3
The gross margin for the first quarter of 2026 was 61.5%, compared to 69.3% in the same quarter a year ago.
- 4
GAAP net loss for the first quarter of 2026 was $2.5 million, or ($0.22) per share, compared to a net loss of $0.5 million in Q1 2025.
- 5
Non-GAAP net loss for Q1 2026 was $2.3 million, or ($0.20) per share, compared to a net loss of $0.4 million in the first quarter of 2025.
- 6
Adjusted EBITDA for the first quarter of 2026 was negative $2.3 million, compared to negative $0.3 million in the same quarter last year.
Management Comments
Ron Glibbery
“Our first quarter results reflect the anticipated push-out on the fulfillment of a significant customer order due to the delayed receipt of key materials from one of our suppliers,” commented Ron Glibbery, CEO of Peraso. “We shipped this order in the current quarter, and we have since begun implementing measures to mitigate our reliance on any one supplier. In addition to this delayed order, we are also experiencing irregular order patterns from our fixed wireless access customers, as well as multiple new customers not yet establishing observable order patterns. “Despite these near-term challenges, particularly within the fixed wireless access market, we have remained closely engaged on expanded opportunities for our 60 GHz mmWave technology across a number of new and existing customers. Within the tactical communications market, we are seeing growing interest in Peraso’s mmWave wireless technology following the announcement of our lead Israeli defense customer, InTACT. We delivered initial production shipments in April of our optimized 60GHz modules in support of this customer’s next-generation drone Identification Friend or Foe system. “We remain optimistic about the breadth of our customer engagements and continue to believe there are expanding opportunities for 60 GHz wireless technology in markets that require high-bandwidth and secure connectivity beyond our core fixed wireless access applications. Our primary focus over the coming quarters is to secure new purchase orders, as well as increase the conversion rate of existing customer engagements into design wins for potential future top-line growth.”
Jim Sullivan
Ron Glibbery, CEO, and Jim Sullivan, CFO, will host a conference call and webcast with slides today, May 11th, at 1:30 p.m. Pacific Time.
Informational and educational content only. Not investment advice.