Peraso SEC Filings

PRSO supplements its Form S-3 prospectus to increase the amount available under an At-the-Market sales agreement with Ladenburg Thalmann to permit up to $670,000 aggregate offering price of common stock to be sold from time to time. The supplement states prior sales under the program totaled approximately $9,370,130. The company reports a public float of $27,523,842 based on 14,718,632 shares outstanding as of May 12, 2026 and a last reported Nasdaq sale price of $0.9793 on May 13, 2026. Sales under General Instruction I.B.6 of Form S-3 remain subject to the one-third-of-public-float limit in any 12-month period; PRSO reports it sold $8,502,675 in the prior 12 months under that instruction.

Peraso Inc. reported very weak first-quarter 2026 results while continuing to face serious liquidity pressures. Net revenue fell to $963,000 from $3.9 million a year earlier, mainly due to a sharp drop in memory IC and mmWave product sales, partly offset by higher engineering services.

The company posted a net loss of $2.5 million, compared with a $471,000 loss in the prior-year quarter, and used $2.3 million of cash in operating activities. Cash and cash equivalents were $2.7 million and working capital was $4.0 million as of March 31, 2026.

Management and the auditor both state there is substantial doubt about Peraso’s ability to continue as a going concern, as recurring losses and negative cash flows are expected to persist without additional capital. The company is relying heavily on its at-the-market equity program, which raised about $2.3 million in Q1 and a further $2.1 million after quarter-end. Peraso is also running a strategic review and remains in discussions with Mobix Labs regarding a potential stock-based transaction, with no assurance any deal will occur.

Peraso Inc. reported weak first quarter 2026 results, with revenue and losses moving in the wrong direction. Total net revenue was $1.0 million, down from $2.9 million in the prior quarter and $3.9 million a year earlier, as both memory IC and mmWave product shipments declined. Product revenue fell to $0.7 million, while services and other contributed $0.3 million.

Gross margin improved sequentially to 61.5% from 52.2% due to a higher mix of non-recurring engineering projects, but remained below the 69.3% level of the prior year. GAAP net loss widened to $2.5 million, or ($0.22) per share, compared with ($0.13) in the prior quarter and ($0.08) a year ago. Non-GAAP net loss was $2.3 million, or ($0.20) per share, and adjusted EBITDA was negative $2.3 million versus negative $0.3 million a year earlier.

Management cited a delayed fulfillment of a significant customer order due to supplier materials issues, irregular order patterns in fixed wireless access, and early-stage demand from new customers. They highlighted growing interest in 60 GHz mmWave technology, including initial production shipments for an Israeli defense customer’s drone Identification Friend or Foe system, but also listed substantial risks such as the ability to continue as a going concern, raising capital, and maintaining Nasdaq listing compliance.

Peraso Inc. reported that it has delivered an initial limited production shipment of its proprietary 60GHz modules for military Identification Friend or Foe (IFF) applications to Israeli defense contractor iNTACT. The shipment, which supports infantry and drone deployment, demonstrates the company’s ability to produce these specialized modules.

The integrated solution combines Peraso’s optimized hardware with software that implements the IFF protocol and power reduction algorithms designed for battery-operated devices. The company cautions that there is no assurance iNTACT will place additional orders or that further IFF modules will be produced.

Peraso Inc. updated investors on preliminary results and its at-the-market stock program. For the quarterly period ended March 31, 2026, the company now expects total revenues of approximately $0.9 million to $1.0 million, down from the $1.2 million it had indicated on its March 16, 2026 conference call. Management emphasized these figures are preliminary and may change once the normal quarter-end close is complete.

Peraso also filed a new prospectus supplement to increase the capacity of its existing at-the-market equity offering under its Sales Agreement with Ladenburg Thalmann. The supplement allows sales of up to an additional $2,125,000 of common shares, on top of approximately $7,245,131 of shares already sold under this program.

PRSO amends its shelf prospectus to increase at-the-market capacity to an aggregate offering price of up to $2,125,000. The supplement updates the Sales Agreement with Ladenburg Thalmann & Co. Inc. and notes approximately $7,245,131 in aggregate sales made under prior prospectus supplements.

As of April 10, 2026, the filing reports a public float of $25,732,336 based on 12,613,890 shares outstanding and a closing price of $2.04 per share (March 6, 2026). The company also revises a preliminary revenue estimate for the quarter ended March 31, 2026 to approximately $0.9 million to $1.0 million, down from an earlier estimate of $1.2 million; final results remain subject to quarter-end close.

Peraso Inc. files its annual report describing a fabless semiconductor business focused on millimeter‑wave (mmWave) ICs and antenna modules for fixed wireless access, military and high‑bandwidth consumer applications. The company has exited its Bandwidth Engine memory IC line, which contributed 22% of 2025 revenue and 89% of 2024 revenue, and does not expect meaningful future revenue from these products.

As of December 31, 2025, Peraso held $2.9 million in cash and cash equivalents and had an accumulated deficit of $181.9 million. Management and the auditor note substantial doubt about the company’s ability to continue as a going concern without raising additional capital and achieving sustainable profitability. Revenue is highly concentrated, with the top five customers providing about 80% of 2025 revenue, and the business depends on design wins and a small number of OEMs and WISPs.

Peraso reported 2025 results showing a shift toward its core 60 GHz mmWave business, but with lower overall sales. Full-year net revenue was $12.2 million compared with $14.6 million in 2024, as memory IC shipments declined while mmWave product revenue grew six-fold year over year.

GAAP gross margin improved to 58.0% from 51.7%, helped by higher-margin mmWave products and lower amortization on memory intangibles. GAAP net loss narrowed to $4.8 million, or ($0.67) per share, from $10.7 million, or ($3.57) per share, reflecting significant operating expense reductions.

Non-GAAP net loss was $4.3 million versus $5.1 million a year earlier, and adjusted EBITDA was negative $4.0 million compared with negative $4.5 million. Cash and cash equivalents were $2.9 million as of December 31, 2025. Management highlighted growing design wins in fixed wireless and tactical communications and sees rising demand for high-data-rate, interference-resistant 60 GHz connectivity through 2026.

Peraso Inc. granted new equity incentives to its top executives. On February 9, 2026, the compensation committee awarded 60,000 stock options each to Chief Executive Officer Ronald Glibbery, Chief Financial Officer James Sullivan, and Chief Operating Officer Bradley Lynch.

The options have an exercise price of $0.87 per share, vest in equal monthly installments over 36 months starting one month after the grant date, and expire on February 9, 2036. These awards were made under Peraso’s Amended and Restated 2019 Stock Incentive Plan.