Peraso, Inc. ( (PRSO) ) has released its Q1 earnings. Here is a breakdown of the information Peraso, Inc. presented to its investors.
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Peraso Inc. is a leading company in the wireless technology sector, specializing in high-performance 60 GHz unlicensed and 5G mmWave solutions, offering a range of products including chipsets, antenna modules, software, and IP for applications like fixed wireless access and factory automation.
In its first quarter of 2025, Peraso Inc. reported a significant 37% year-over-year increase in total revenue, primarily driven by substantial growth in its mmWave product line. The company also highlighted strategic advancements, including a major upgrade to its PERSPECTUS modules and a new contract with a defense contractor.
Key financial results for the quarter include a total net revenue of $3.9 million, an increase from $2.8 million in the same quarter last year. The company achieved a GAAP gross margin of 69.3%, a notable improvement from 46.4% a year ago, attributed to reduced amortization expenses and a favorable product mix. Operating expenses decreased significantly, contributing to a reduced net loss of $0.5 million compared to $2.0 million in the previous year.
Looking forward, Peraso Inc. aims to expand its customer base and increase its order backlog, with expectations of continued revenue growth in its mmWave solutions throughout 2025, despite anticipated declines in revenue from its memory IC products.