Peraso Inc
NASDAQ:PRSO
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Peraso Inc
NASDAQ:PRSO
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Peraso Inc
Peraso Inc. designs and sells wireless semiconductor products, mainly chips and modules that use millimeter-wave technology in the 60 GHz band. Its parts help equipment send data over short distances at very high speeds, which makes them useful in wireless internet links, consumer devices, and other systems that need fast, low-latency connections without running cables. The company sells to original equipment manufacturers, module makers, and networking customers that build access points, client devices, and fixed wireless equipment. It makes money by selling its chips, modules, and related software and development support that help customers build their own wireless products around Peraso’s technology. Peraso sits in a specialized part of the semiconductor industry where the value is not just the chip itself, but the wireless link it enables. Its business model depends on getting design wins with hardware makers and then supplying the components those customers need when they bring wireless products to market.
Peraso Inc. designs and sells wireless semiconductor products, mainly chips and modules that use millimeter-wave technology in the 60 GHz band. Its parts help equipment send data over short distances at very high speeds, which makes them useful in wireless internet links, consumer devices, and other systems that need fast, low-latency connections without running cables.
The company sells to original equipment manufacturers, module makers, and networking customers that build access points, client devices, and fixed wireless equipment. It makes money by selling its chips, modules, and related software and development support that help customers build their own wireless products around Peraso’s technology.
Peraso sits in a specialized part of the semiconductor industry where the value is not just the chip itself, but the wireless link it enables. Its business model depends on getting design wins with hardware makers and then supplying the components those customers need when they bring wireless products to market.
Revenue: First-quarter revenue was $1.0 million, below both the prior quarter's $2.9 million and the year-ago $3.9 million, as a large order was delayed into the current quarter.
Outlook: Management guided second-quarter revenue to approximately $1.2 million, saying visibility remains limited because customer orders are lumpy and some customers are being hit by memory chip shortages and higher prices.
Defense momentum: Peraso said tactical communications is gaining traction, with InTACT now a customer, initial limited production shipments already delivered, and additional field trials planned for August.
Margins: Gross margin rose to 61.5% in Q1, helped by a higher mix of NRE products, but management expects margins to fall back into the 50s in Q2 as product revenue becomes a larger share.
Supply fix: The company said the Q1 shipment delay was caused by a supplier testing issue that has now been fully resolved, and it has added alternative suppliers to reduce future risk.
Cash and dilution: Cash ended the quarter at $2.7 million, supported by $2.3 million of ATM proceeds, and management said shares outstanding are now around 14.5 million including recent ATM activity.
