Peraso Inc.
- Open
- 0.64
- Day high
- 0.65
- Day low
- 0.58
- Prev close
- 0.64
- Volume
- 449K
- Mkt cap
- $9M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.8
- P/S
- 1.1
- Yield
- —
- Per share
- —
Peraso Inc. (PRSO) is a Technology company listed on NASDAQ. The stock is down 31% over the past year. Drillr has 1 published research article covering PRSO.
Peraso Inc. (PRSO) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PRSO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 11, 2026 | $-0.18 | $-0.15 | +16.7% | $1M | +4.6% |
| May 11, 2026 | $-0.18 | $-0.20 | -11.1% | $963000 | -16.3% |
| Mar 16, 2026 | $-0.18 | $-0.13 | +27.8% | $3M | -20.3% |
| Mar 19, 2025 | $-0.17 | $-0.13 | +23.5% | $4M | -5.1% |
| Mar 18, 2024 | $-3.41 | $-8.52 | -149.9% | $2M | +7.8% |
| Aug 14, 2023 | $-3.20 | $-4.80 | -50.0% | $2M | -43.6% |
| May 15, 2023 | $-4.00 | $-3.60 | +10.0% | $5M | +11.3% |
| Mar 22, 2023 | $-6.80 | $-5.20 | +23.5% | $4M | -1.6% |
| Nov 14, 2022 | $-8.00 | $-4.00 | +50.0% | $3M | -25.1% |
| Aug 15, 2022 | — | $-9.20 | — | $4M | +28.3% |
| Mar 8, 2022 | — | $-28.00 | — | $2M | -43.9% |
| Nov 12, 2021 | — | $-17.62 | — | $2M | — |
PRSO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Feb 10, 2026 | Lynch Bradofficer: Chief Operating Officer | Grant | 60,000 | $0.87 |
| Feb 10, 2026 | Tomkins Alexofficer: Chief Technology Officer | Grant | 60,000 | $0.87 |
| Feb 10, 2026 | Glibbery Ronalddirector, officer: Chief Executive Officer | Grant | 60,000 | $0.87 |
| Feb 10, 2026 | SULLIVAN JAMESofficer: Chief Financial Officer | Grant | 60,000 | $0.87 |
| Jan 29, 2026 | Links Cornelisdirector | Grant | 50,000 | — |
| Jan 29, 2026 | Links Cornelisdirector | Grant | 100,000 | $1.00 |
| Jan 9, 2026 | Melder Andreasdirector | Grant | 50,000 | — |
| Jan 9, 2026 | Newell Robert Y IVdirector | Grant | 50,000 | — |
| Jan 9, 2026 | Lewis Daniel Leedirector | Grant | 50,000 | — |
| Aug 11, 2025 | Lynch Bradofficer: Chief Operating Officer | Grant | 25,000 | $0.84 |
| Aug 11, 2025 | Tomkins Alexofficer: Chief Technology Officer | Grant | 25,000 | $0.84 |
| Aug 11, 2025 | SULLIVAN JAMESofficer: Chief Financial Officer | Grant | 25,000 | $0.84 |
| Aug 11, 2025 | Glibbery Ronalddirector, officer: Chief Executive Officer | Grant | 25,000 | $0.84 |
| Apr 25, 2025 | LUNSFORD MARKofficer: Chief Revenue Officer | Tax | 197 | $1.56 |
| Feb 13, 2025 | Glibbery Ronalddirector, officer: Chief Executive Officer | Grant | 100,000 | $0.78 |
Source: PRSO SEC Form 4 filings, latest Feb 10, 2026. For informational purposes only — not investment advice.
See the full PRSO insider & 13F page →Peraso Inc. company profile
Overview
Peraso Inc. (NASDAQ:PRSO) is a fabless semiconductor company founded in 1991 and headquartered in San Jose, California. Originally incorporated as MoSys, Inc., the company rebranded to Peraso Inc. in December 2021 to reflect its strategic pivot toward millimeter wave (mmWave) technology. The company went public in 2001 and has evolved from a memory semiconductor specialist into a focused developer of mmWave solutions for 5G networks, fixed wireless access, and military communications applications.
Business
Peraso operates in the semiconductor industry, specifically developing millimeter wave technology solutions for wireless communications. The company's core business revolves around two main product categories that generate distinct revenue streams. Millimeter Wave Products (Growing Segment): Peraso's primary focus is on mmWave technology, which uses extremely high-frequency radio waves (typically 30-300 GHz) to enable ultra-fast wireless communications. The company's flagship products include the PERSPECTUS product family for fixed wireless access and the DUNE platform for dense urban environments. These products consist of integrated circuits (baseband ICs and radio frequency ICs), antenna technology, and complete modules that enable wireless internet service providers to deliver multi-gigabit broadband connections without traditional cable infrastructure. The technology operates primarily in the 60 GHz unlicensed spectrum and 5G licensed mmWave bands, enabling applications such as high-speed internet delivery to homes and businesses, military tactical communications, and augmented/virtual reality applications. Memory IC Products (Legacy Segment): The company continues to generate revenue from its legacy memory integrated circuit business, which historically represented the majority of revenues. These are specialized memory chips used in high-performance computing applications. However, Peraso has announced end-of-life for these products and is fulfilling remaining customer orders, with approximately $2.3 million in backlog remaining as of Q1 2025. Based on recent financial reports, millimeter wave products are rapidly growing and represented approximately 39% of Q1 2025 revenue ($1.5 million out of $3.9 million total), while memory ICs comprised the remaining 61%. The company also generates minimal revenue from intellectual property licensing and engineering services.
Revenue model
Peraso generates revenue through multiple business models, with product sales being the primary driver. The company sells its mmWave integrated circuits, modules, and antenna solutions directly to wireless equipment manufacturers, internet service providers, and system integrators. Customers include companies like SAF TEHNIKA, Miliwave, and various wireless internet service providers (WISPs) globally. The company's revenue model includes: 1. Product Sales - Direct sales of mmWave ICs, modules, and complete solutions to equipment manufacturers and service providers, 2. Intellectual Property Licensing - Licensing fees and royalties from its patent portfolio, particularly following strategic agreements like the one with Intel, 3. Engineering Services - Non-recurring engineering services for custom implementations and design support. Several factors influence Peraso's profit margins and revenue potential. Positive margin drivers include the company's focus on high-value mmWave solutions which command premium pricing due to their advanced technology and performance benefits. The transition from legacy memory products to mmWave solutions has improved gross margins from 46.4% in Q1 2024 to 69.3% in Q1 2025. Government infrastructure spending, particularly the $42 billion BEAD (Broadband Equity, Access, and Deployment) program, could significantly expand market opportunities for fixed wireless access solutions. Margin pressures come from the company's fabless model, which requires third-party manufacturing and can create supply chain dependencies. The semiconductor industry's cyclical nature affects component costs and availability. Competition from larger semiconductor companies with greater resources poses pricing pressure. Additionally, the company's small scale limits manufacturing cost advantages compared to high-volume competitors. Customer concentration risk exists, as evidenced by single large orders like the $3.6 million purchase order that significantly impacts quarterly results.
Competitive moat
Peraso's competitive moat is relatively narrow but shows some defensive characteristics in specialized mmWave applications. The company's primary competitive advantage lies in its technical expertise and intellectual property in 60 GHz mmWave technology, which requires significant specialized knowledge to develop effectively. The company holds patents for wireless local area network solutions and has built relationships with equipment manufacturers who have integrated Peraso's technology into their commercial products. However, this moat faces significant challenges. The semiconductor industry is highly competitive with well-capitalized competitors including major players like Intel, Qualcomm, and other established RF semiconductor companies. These competitors have substantially greater resources for research and development, manufacturing scale advantages, and broader customer relationships. Peraso's small size (approximately $6 million market cap) limits its ability to compete on price or invest heavily in next-generation technology development. The company's customer relationships and design wins provide some switching cost protection, as customers typically invest 6-18 months in design cycles before switching suppliers. With technology utilized in 68 commercial products across 14 customers, Peraso has achieved some market penetration. The military and defense applications may offer higher switching costs due to security clearance and qualification requirements. The competitive threat comes primarily from larger semiconductor companies that could develop competing mmWave solutions with superior performance or lower costs. The rapid evolution of 5G and mmWave standards also creates risk that Peraso's current technology could become obsolete without continued significant investment in research and development.
Risks & safety
Peraso presents a mixed margin of safety profile with both concerning and stabilizing factors. • Cash Position: $2.8 million cash as of Q1 2025, down from $3.3 million in Q4 2024, indicating ongoing cash burn • Burn Rate: Negative $966k operating cash flow in Q1 2025, suggesting approximately 3 quarters of cash runway at current burn rate • Debt Level: Low debt-to-equity ratio of 0.07, minimal solvency risk from leverage • Current Ratio: Strong 2.01 current ratio indicates good short-term liquidity position • Valuation Metrics: Trading at 0.92x book value and negative earnings make traditional valuation challenging • Revenue Trajectory: Growing mmWave revenue provides some optimism, but overall revenue volatility creates uncertainty • Market Cap Risk: Extremely small $6 million market cap creates high volatility and liquidity risk • Going Concern: Limited cash runway and ongoing losses create potential financing needs in near term
Recent development
Over the past few years, Peraso has executed a strategic transformation from a memory semiconductor company to a focused mmWave technology provider. The company rebranded from MoSys to Peraso in December 2021 to reflect this pivot. Key developments include the launch of the PERSPECTUS product family for fixed wireless access applications, which has been upgraded to support 48 endpoint devices per access point (a 50% increase). The company introduced the DUNE platform specifically targeting dense urban network environments, addressing a different market segment than traditional rural fixed wireless access. Peraso has successfully expanded its customer engagement pipeline from 18 active engagements to over 120 total opportunities, with 23 in advanced evaluation stages. The company has achieved significant design wins, with its technology now utilized in 68 commercial products across 14 customers. Notable customer product launches include SAF TEHNIKA's FreeMile 60 radio and Miliwave's MWC-932 product. The company has strategically entered the military and defense market, securing initial production orders for tactical communication applications. This represents a new vertical that could provide higher-margin opportunities with different competitive dynamics. Additionally, Peraso has been positioning itself to benefit from the federal BEAD program, which could allocate significant funding for fixed wireless access solutions to underserved areas. On the operational side, the company announced end-of-life for its legacy memory IC products, receiving $14 million in last-time buy orders to provide transition revenue while building the mmWave business. The appointment of a Chief Revenue Officer and strategic technology licensing agreement with Intel demonstrate efforts to professionalize operations and monetize intellectual property.
PRSO company profile · for informational purposes only — not investment advice.
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