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) reported preliminary fourth quarter revenue of approximately $3.9 million, within its guidance range of $3.8 to $4.1 million, marking an 18% sequential growth. To address current market conditions, the Company is implementing cost reduction initiatives expected to save about $5 million annually through layoffs and reduced R&D spending. The Company has collected $1.5 million from a significant customer toward outstanding receivables. Peraso aims to optimize resources and shorten the time to profitability as it navigates the economic challenges ahead.
Peraso Inc (NASDAQ:PRSO) will participate in the WISPAMERICA tradeshow in Louisville, Kentucky, from March 6 to 9, 2023. The event will provide an opportunity for Peraso to engage with customers and industry leaders, focusing on its advanced mmWave technology solutions for fixed wireless access (FWA) and 5G customer-premises equipment (CPE). CEO Ron Glibbery expressed enthusiasm for showcasing their capabilities and highlighted that Peraso is a leading provider across all mmWave communication bands (24GHz - 71GHz). The company aims to explore new strategic markets and strengthen its position in the growing FWA sector.
Peraso Inc. (NASDAQ:PRSO) will participate in the Mobile World Congress (MWC) Barcelona 2023 from February 27 to March 2. The company aims to showcase its latest mmWave technology solutions for Fixed Wireless Access (FWA) and Customer Premise Equipment (CPE). Peraso's executive leadership will be available in their private meeting room #2B3MR. CEO Ron Glibbery emphasized the company's commitment to developing high-performance, cost-effective solutions to support the evolving 5G market. Interested parties can request meetings via email with the company representatives.
Peraso Inc. (NASDAQ:PRSO) will participate in the virtual Oppenheimer 5G Summit on December 13, 2022, at 4:35 p.m. ET. CEO Ron Glibbery and CFO Jim Sullivan are scheduled to present and will meet with registered investors throughout the day. The summit aims to discuss emerging opportunities in the 5G sector through various formats, including company presentations and one-on-one meetings. Peraso is a leader in mmWave technology for 5G networks, providing solutions across different applications, including data intelligence and edge computing.
Peraso Inc (NASDAQ:PRSO) announces participation in the FWA Summit on December 6, 2022. CEO Ron Glibbery will deliver a keynote on the significance of mmWave technology for fixed wireless access (FWA). The company, a leader in mmWave technology since 2008, emphasizes improvements in the price/performance of 5G mmWave customer premise equipment (CPE), crucial for FWA success. With capabilities across all mmWave communication bands, Peraso aims to meet rising demand in 5G markets. For more, visit www.perasoinc.com.
Peraso Inc. (NASDAQ:PRSO) announced a registered direct offering of 2,450,000 shares at $1.00 per share, raising $2.45 million. This includes pre-funded warrants and a concurrent private placement for 3,675,000 warrants at an exercise price of $1.36. Proceeds will be utilized for 5G product development and general corporate purposes. The offering, facilitated by The Benchmark Company, is expected to close by November 30, 2022. The shares and warrants are part of a shelf registration statement filed with the SEC.
Peraso Inc. (NASDAQ:PRSO), a leader in mmWave technology, will participate in the 11th Annual Discovery Investor Conference hosted by Benchmark Company on December 1, 2022, in New York City. CEO Ron Glibbery and CFO Jim Sullivan will conduct one-on-one meetings with investors. This conference provides a platform for emerging growth companies to connect with institutional investors. To attend, registration is required. Peraso specializes in high-performance 5G mmWave technology, offering solutions for various applications, including fixed wireless access and factory automation.
Peraso Inc. (NASDAQ:PRSO) reported a 63% year-over-year revenue increase, reaching $3.3 million for Q3 2022, despite lower-than-expected results due to delayed revenue recognition on certain orders. The company maintains a record order backlog and strong demand for its mmWave solutions, particularly in the fixed wireless access market. GAAP gross margin improved to 39.3%, while total operating expenses dropped significantly. The outlook for Q4 2022 anticipates revenues between $3.8 million and $4.1 million, excluding $1.1 million from prior shipments.
Peraso Inc. (NASDAQ:PRSO) will release its third quarter 2022 financial results on November 14, 2022, after market close. CEO Ron Glibbery and CFO Jim Sullivan will host a conference call at 2:00 PM PT (5:00 PM ET). Investors can dial in using 1-888-506-0062 (US) or +1-973-528-0011 (international), passcode 360522. An archived webcast will be available post-call on the investor page. Peraso specializes in 5G mmWave technology, providing solutions for various applications such as fixed wireless access and factory automation. For more information, visit perasoinc.com.
Peraso Inc. (NASDAQ:PRSO) has appointed Mark Lunsford as its new Chief Revenue Officer, enhancing its leadership team amid growing demand for 5G mmWave technology. Lunsford has extensive experience in driving sales and developing strategic partnerships at emerging tech firms and semiconductor companies. CEO Ron Glibbery expressed confidence in Lunsford's ability to convert advanced technology into lucrative sales pipelines. Peraso, known for its innovative wireless solutions, aims to leverage Lunsford’s expertise to capitalize on significant market opportunities.
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