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.
Peraso Inc (NASDAQ:PRSO) has bolstered its relationship with GigFire, a wireless internet service provider, through the appointment of Nadine Hatto to GigFire's Advisory Board. Dr. Hatto, with over 20 years in telecommunications, previously served as senior director of product marketing at Peraso and brings extensive industry knowledge. This strategic collaboration aims to enhance GigFire's expansion into new markets by leveraging Peraso's 60 GHz fixed wireless access technology. The partnership seeks to provide competitive pricing and 1-gigabit connectivity to rural customers, addressing technology challenges in this growing demand sector.
Peraso's CEO, Ron Glibbery, regards Dr. Hatto's appointment as a strong endorsement of Peraso's leading role in the FWA market.
Peraso Inc. (NASDAQ:PRSO) reported strong financial results for Q4 and full year 2022. Q4 total revenue reached $3.9 million, a 25% increase sequentially and over 100% year-over-year. Full year revenue grew 160% to $14.9 million, driven by increased shipments of mmWave and memory IC products. Gross margin improved to 44.2% for Q4, up from 39.3% the previous quarter. However, the company faced a net loss of $14.6 million in Q4 due to a goodwill impairment charge. Looking forward, Peraso anticipates Q1 2023 revenue between $4.7 million and $5.0 million, while implementing cost-saving measures to enhance operating results.
Peraso Inc. (NASDAQ:PRSO) will announce its fourth quarter and full year 2022 financial results on March 22, 2023, after market close. The announcement will be followed by a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time), featuring CEO Ron Glibbery and CFO Jim Sullivan. Interested parties can join by phone or via a webcast. Peraso, a leader in mmWave technology, provides innovative solutions for applications such as 5G and fixed wireless access. For more details, contact Investor Relations at the Shelton Group.
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