Peraso Inc. Q2 FY26 Results

Second quarter revenue increased approximately 36% sequentially and was above our previous expectations, primarily reflecting the fulfillment of a previously delayed order shipment to a new fixed wireless access customer. Our overall business continues to be impacted by irregular order patterns, as fixed wireless access customers navigate inflated memory prices and constrained supply of other key components. We expect these market dynamics to extend into the fourth quarter. Despite these ongoing dynamics, we remain optimistic about the growing recognition and demonstrated value proposition of our 60 GHz mmWave technology across our target end markets. In defense and tactical communications, its inherently stealthy, anti-jamming characteristics deliver unique differentiation for applications requiring secure, high-bandwidth connectivity. Today, we are seeing a high level of interest and expanding engagements with drone manufacturers that are actively evaluating our solutions. We continue to focus our efforts on the areas of the business that we can control. This includes ongoing steps to improve the future resilience of our supply chain, as well as secure additional distribution partners to expand the market reach of Peraso’s 60GHz mmWave solutions. Coupled with these operational initiatives, our highest priority remains on driving commercial traction and securing new design wins and customers in support of future top-line growth.