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Peraso, Inc. - PRSO STOCK NEWS

Welcome to our dedicated page for Peraso news (Ticker: PRSO), a resource for investors and traders seeking the latest updates and insights on Peraso stock.

Peraso, Inc. (NASDAQ: PRSO) is a leading fabless semiconductor company specializing in the design and development of integrated circuits for the 60 GHz wireless marketplace. Focused on providing top-tier products for the consumer electronics (CE) market, Peraso's primary targets include mobile segments such as smartphones, tablets, and digital cameras. By integrating features critical to the mobile market—such as minimal footprint, low power consumption, and competitive price points—Peraso strives to meet and exceed market expectations.

Operating on a global scale, Peraso generates its revenue from key regions including the United States, Hong Kong, Taiwan, and others. The company’s specialties extend to millimeter wave 60 GHz wireless circuit design, advanced antenna and phased array design, high-speed mixed signal and digital design, PHY/MAC architecture development, and real-time software development.

Recent Achievements and Current Projects:

  • EtherWave Software Package: Peraso recently announced the scheduled availability of its EtherWave software package, which supports the company's 60 GHz IEEE 802.11ad module products. This software provides cross-platform support, enabling use with Android, Windows, and Linux host devices.
  • Financial Developments: The company achieved a total revenue of $2.8 million in Q1 2024, reflecting a sequential increase and surpassing previous guidance.
  • Product Innovations: An additional purchase order totaling $2.88 million under the end-of-life (EOL) program for memory integrated circuit products highlights continued demand and expected revenue flow into 2025.
  • Market Expansion: Peraso is engaged in proof-of-concept trials for its new DUNE platform targeting dense urban environments in Africa, and their mmWave chipset is included in Panasonic's new 60GHz WLAN solutions.
  • Tactical Communications: The company introduced a new wireless platform designed for secure tactical communications, expanding its reach into military markets.

Financial Performance: Despite facing challenges such as market inventory corrections and end-of-life product cycles, Peraso has shown resilience with significant improvements in gross margins and operating expense reductions. The company reported a GAAP gross margin of 46.4% and a non-GAAP gross margin of 66.4% for Q1 2024.

Partnerships and Collaborations: Peraso collaborates with system vendors and component distributors across North America, Asia, and Europe to provide its high-performance mmWave technology. Notable partners include Miliwave for fixed wireless products and new market entries, and Richardson RFPD for global distribution.

Peraso, Inc. continues to innovate and expand its market presence, leveraging its expertise in mmWave technology to develop cutting-edge solutions for a variety of applications including fixed wireless access, immersive video, and factory automation. For more information, visit www.perasoinc.com.

Rhea-AI Summary

Peraso Inc. (NASDAQ:PRSO) has announced preliminary revenue results for Q2 2024, exceeding previous guidance. The company anticipates total net revenue of approximately $4.2 million, surpassing the earlier projected range of $3.7-$4.0 million. This represents a strong growth of over 50% sequentially and over 70% year-over-year.

The higher revenue was primarily driven by increased shipments of end-of-life memory IC products and a new volume production order for mmWave antenna modules supporting the initial deployment of the DUNE platform by a South African service provider. Peraso expects additional orders from this customer and growing engagements for gigabit-speed fixed wireless access applications in urban environments.

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Peraso (NASDAQ:PRSO) has announced that CEO Ron Glibbery and CFO Jim Sullivan will participate in the 16th Annual CEO Investor Summit 2024. This event will take place on July 10th at the St. Regis Hotel in San Francisco, CA. Peraso is recognized for its leadership in mmWave technology for 60 GHz unlicensed and 5G licensed networks. Presentation materials from the summit will be available on the company's website.

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Peraso (NASDAQ: PRSO), a leader in mmWave technology, has earned the ISO 9001:2015 certification for its suite of mmWave solutions. This certification highlights Peraso's commitment to quality and customer satisfaction in the design and manufacture of its innovative mmWave products. ISO 9001:2015 is an internationally recognized standard focusing on quality management principles such as customer focus, high-level management involvement, and a process-driven approach. COO Brad Lynch emphasized that this milestone reaffirms Peraso's dedication to delivering superior wireless solutions. The certification process included a thorough audit of Peraso's operations, covering product development, manufacturing, customer support, and fulfillment.

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Peraso, a leader in mmWave technology for 60 GHz unlicensed and 5G licensed networks, announced that CEO Ron Glibbery and CFO Jim Sullivan will present at the Lytham Partners 2024 Virtual Spring Conference.

The event will take place on May 30, 2024, at 11:45 a.m. ET. They will also be available for virtual meetings with investors throughout the day. A live and archived webcast of the presentation, along with supporting materials, will be accessible on Peraso's website.

Investors and analysts interested in scheduling meetings with Peraso management should contact Lytham Partners or register on the event's website.

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Peraso (NASDAQ: PRSO) announced its first-quarter 2024 financial results, showing a total revenue of $2.8 million, a 54% sequential increase. GAAP gross margin improved to 46.4%, and non-GAAP gross margin rose to 66.4%. The company reported a GAAP net loss of $2.0 million, a significant improvement from the previous quarter's $8.9 million loss. Operating expenses on a non-GAAP basis were $3.5 million, down from $4.0 million in the prior quarter. Peraso's memory product backlog stands at $12.6 million, with $2.9 million in EOL purchase orders. The company forecasts second-quarter revenue between $3.7 million and $4.0 million.

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Peraso Inc. (NASDAQ:PRSO) is set to release its first quarter 2024 financial results on May 13, 2024, followed by a conference call with CEO Ron Glibbery and CFO Jim Sullivan to discuss the Company's performance and future prospects in mmWave technology for networks.

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Panasonic partners with Peraso to launch a new 60GHz WLAN solution utilizing X710 chipset technology, offering high-speed, low-latency communication equivalent to wired LAN over long distances.
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Peraso Inc. (PRSO) receives a $2.88 million purchase order for memory IC products, adding to a total of $16.9 million in EOL orders. The company anticipates revenue and cash flow from the program into 2025, showcasing confidence in their legacy products and market expansion.
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Peraso Inc. introduces a new wireless platform utilizing mmWave technology for secure tactical communications, expanding into new markets and highlighting the benefits of 60 GHz mmWave in the defense sector. The PRM2136 module offers high bandwidth, low latency, and interference-free communication, enabling multi-gigabit data transfer rates crucial for military operations. Peraso's technology provides small, lightweight, and power-efficient solutions with adaptive beamforming and stealthy communication capabilities. The Company has secured its first customer for the new platform, signaling positive engagement and validation from the military sector.
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Peraso Inc. (NASDAQ: PRSO) reports Q4 and full-year financial results for 2023, highlighting challenges in product revenue due to market corrections and timing issues. The company expects revenue growth to resume in Q1 and throughout the year, supported by order backlog and new product orders. Peraso also sees increased customer engagement for gigabit wireless connectivity solutions, securing commercial orders and engaging with multiple service providers. The company strengthened its cash position through a public offering to support business growth and focus on expanding its customer base for mmWave products.
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FAQ

What is the current stock price of Peraso (PRSO)?

The current stock price of Peraso (PRSO) is $0.8651 as of December 20, 2024.

What is the market cap of Peraso (PRSO)?

The market cap of Peraso (PRSO) is approximately 3.3M.

What does Peraso, Inc. specialize in?

Peraso specializes in the design and development of integrated circuits for the 60 GHz wireless marketplace, focusing on consumer electronics including smartphones, tablets, and digital cameras.

What recent projects has Peraso been involved in?

Recent projects include the EtherWave software package, new product launches, end-of-life memory IC programs, and expanding into military tactical communications.

Where does Peraso generate its revenue?

Peraso generates its revenue from key regions including the United States, Hong Kong, Taiwan, and other parts of the world.

What are Peraso's financial highlights for Q1 2024?

Peraso reported a total net revenue of $2.8 million, a GAAP gross margin of 46.4%, and a non-GAAP gross margin of 66.4%, with significant improvements in operating expenses.

What is the EtherWave software package?

The EtherWave software package supports Peraso's 60 GHz IEEE 802.11ad module products and offers cross-platform support for devices running Android, Windows, and Linux.

What market segments does Peraso target?

Peraso targets mobile segments such as smartphones, tablets, and digital cameras, as well as fixed wireless access, immersive video, and factory automation.

Who are some of Peraso's key partners?

Key partners include Miliwave for fixed wireless products and Richardson RFPD for global distribution, among others.

What is Peraso's approach to product design?

Peraso aims to incorporate features critical to the mobile market, including minimal footprint, low power consumption, and competitive price points.

Does Peraso offer opportunities for engineers?

Yes, Peraso offers engineers opportunities to participate in advanced technology development in a dynamic entrepreneurial environment.

How does Peraso ensure secure tactical communications?

Peraso's technology for secure tactical communications includes the PRM2136 module which offers high bandwidth, low latency, and directional beamforming to ensure secure, interference-free connections.

Peraso, Inc.

Nasdaq:PRSO

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