Peraso, Inc. (PRSO)
NASDAQ:PRSO
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Peraso
(NASDAQ:PRSO)
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Rating:46Neutral
Price Target:
$0.98
▲(0.82% Upside)
Action:Reiterated
Date:05/15/26
PRSO scores low primarily due to deteriorating revenues, heavy ongoing losses, and sustained cash burn that elevate funding risk. Technicals are mixed/soft (below major moving averages), while valuation provides limited support given negative earnings and no dividend. Recent communications and events show promising defense/customer progress, but near-term visibility, liquidity, and dilution risk dominate the outlook.
Positive Factors
Low Financial Leverage
Extremely low debt relative to equity materially reduces solvency and fixed-charge risk for a small fabless semiconductor firm. This structural balance-sheet strength gives management runway and optionality to pursue product development, defense ramps or financing without heavy interest burdens.
Negative Factors
Persistent Cash Burn
Meaningful negative operating and free cash flows show the business is not self‑funding. Over the medium term this forces dependence on external capital, constrains R&D or production investment, and elevates execution and dilution risk if revenue ramps slip or margins compress before cash flow turns positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
Extremely low debt relative to equity materially reduces solvency and fixed-charge risk for a small fabless semiconductor firm. This structural balance-sheet strength gives management runway and optionality to pursue product development, defense ramps or financing without heavy interest burdens.
Read all positive factors
Peraso (PRSO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.74M
Dividend YieldN/A
Average Volume (3M)2.29M
Price to Earnings (P/E)―
Beta (1Y)0.53
Revenue Growth-40.57%
EPS Growth75.19%
CountryUS
Employees42
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.83
Shares Outstanding14,686,618
10 Day Avg. Volume5,703,531
30 Day Avg. Volume2,290,106
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.33
Price to Sales (P/S)0.50
P/FCF Ratio-1.07
Enterprise Value/Market Cap0.65
Enterprise Value/Revenue1.04
Enterprise Value/Gross Profit1.94
Enterprise Value/Ebitda-1.48
Forecast
1Y Price Target
$3.00Price Target Upside209.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.29
Revenue Forecast (FY)$14.16M
Peraso Business Overview & Revenue Model
Company Description
Peraso Inc. operates as a fabless semiconductor company, develops, markets, and sells semiconductor devices and modules. It focuses on development of millimeter wavelength (mmWave) for the 60 gigahertz, spectrum, and for 5G cellular networks. The ...
How the Company Makes Money
Peraso makes money primarily by selling mmWave semiconductor products (integrated circuits/chipsets and related modules or reference designs, where applicable) to customers that integrate these components into finished wireless equipment (e.g., ra...
Peraso Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Negative
The call presented mixed dynamics: meaningful strategic and product-level progress (MikroTik design-win, INTAC defense engagement, initial IFF shipments, and expanding edge AI/tactical pipeline) and disciplined cost control, but these positives are outweighed by significant near-term commercial and financial headwinds—sharp revenue decline (≈ -65.5% QoQ, ≈ -74.4% YoY), widening GAAP and non-GAAP losses, negative adjusted EBITDA, low cash balance, and continued market/memory supply pressure that reduce visibility. Management highlights long-term opportunities (defense and edge AI) but material execution and timing risk remain for revenue recovery.Positive Updates
Strategic Customer Wins and Partnerships
Secured a notable design-win with MikroTik (nRay 60 GHz product launched at MWC) and announced INTAC as a defense contractor customer; these wins increase addressable markets in fixed wireless access and tactical communications.
Negative Updates
Sharp Revenue Decline
Total net revenue for Q1 2026 was $1.0M, down sequentially from $2.9M (≈ -65.5% QoQ) and down year-over-year from $3.9M (≈ -74.4% YoY).
Read all updates
Q1-2026 Updates
Positive
Negative
Strategic Customer Wins and Partnerships
Secured a notable design-win with MikroTik (nRay 60 GHz product launched at MWC) and announced INTAC as a defense contractor customer; these wins increase addressable markets in fixed wireless access and tactical communications.
Read all positive updates
Company Guidance
Peraso guided Q2 2026 revenue of approximately $1.2 million (Q1 revenue was $1.0M vs $2.9M in Q4 2025 and $3.9M in Q1 2025) and said Q1’s inflated margin (61.5%) should normalize into the “50s” as mix shifts back to product sales; non‑GAAP operating expenses remain ~ $3.0M per quarter (Q1 non‑GAAP OPEX $2.9M, GAAP OPEX $3.1M). Q1 GAAP net loss was $2.5M, or $0.22 per share (non‑GAAP net loss $2.3M, or $0.20), adjusted EBITDA was negative $2.3M (vs −$1.1M in the prior quarter and −$0.3M YoY), cash was ~$2.7M at 3/31/26 (down ~$0.2M from $2.9M), Q1 capex was $2.5M, ATM proceeds were $2.3M, and shares outstanding are roughly 14.2–14.5M (weighted avg shares for EPS ~11.6M). Management reaffirmed expectation of NRE and field trials this year with production ramps into late 2026/2027 for defense opportunities and said the Q1 supplier issue is resolved.Peraso Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.29M | 12.19M | 14.57M | 13.75M | 14.87M | 5.68M |
| Gross Profit | 4.98M | 7.07M | 7.53M | 1.87M | 5.95M | 2.41M |
| EBITDA | -6.53M | -4.49M | -8.76M | -19.22M | -23.27M | -15.02M |
| Net Income | -6.78M | -4.75M | -10.73M | -16.80M | -32.40M | -10.91M |
Balance Sheet | ||||||
| Total Assets | 6.40M | 6.08M | 7.21M | 10.71M | 22.49M | 47.95M |
| Cash, Cash Equivalents and Short-Term Investments | 2.67M | 2.89M | 3.34M | 1.58M | 2.91M | 15.16M |
| Total Debt | 159.00K | 192.00K | 321.00K | 719.00K | 1.49M | 667.00K |
| Total Liabilities | 1.79M | 1.44M | 3.74M | 6.63M | 7.23M | 5.88M |
| Stockholders Equity | 4.60M | 4.64M | 3.47M | 4.08M | 15.26M | 42.07M |
Cash Flow | ||||||
| Free Cash Flow | -7.28M | -5.72M | -4.58M | -4.78M | -17.03M | -12.25M |
| Operating Cash Flow | -6.99M | -5.61M | -4.58M | -4.69M | -16.02M | -12.02M |
| Investing Cash Flow | -290.00K | -107.00K | 0.00 | 1.01M | 10.04M | 6.63M |
| Financing Cash Flow | 7.18M | 5.26M | 6.34M | 3.44M | 1.92M | 9.57M |
Peraso Technical Analysis
Negative
0.97
Price Trends
1.07
Negative
1.02
Negative
1.07
Negative
Market Momentum
>-0.01
Positive
46.96
Neutral
8.96
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PRSO, the sentiment is Negative. The current price of 0.97 is below the 20-day moving average (MA) of 1.00, below the 50-day MA of 1.07, and below the 200-day MA of 1.07, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.96 is Neutral, neither overbought nor oversold. The STOCH value of 8.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PRSO.
Peraso Risk Analysis
Peraso disclosed 43 risk factors in its most recent earnings report. Peraso reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Peraso Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $781.98M | -171.77 | 0.42% | ― | 15.94% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $38.75M | 0.11 | -2573.87% | ― | -38.72% | 16.01% | |
54 Neutral | $15.28M | -5.08 | -45.37% | ― | 133.48% | -92.38% | |
52 Neutral | $61.67M | -0.16 | -134.56% | ― | -34.03% | ― | |
48 Neutral | $296.93M | -3.58 | -29.33% | ― | 11.92% | 7.07% | |
46 Neutral | $14.74M | -1.17 | -171.32% | ― | -40.57% | 75.19% |
* Technology Sector Average
PRSO
Peraso
0.96
0.10
11.99%
PXLW
Pixelworks
5.95
-0.34
-5.38%
LEDS
SemiLEDs
2.06
-0.44
-17.60%
SQNS
Sequans Communications S A
4.12
-14.93
-78.37%
MRAM
Everspin Technologies
31.72
25.62
420.00%
VLN
Valens
2.66
0.23
9.47%
Peraso Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Peraso Expands At-The-Market Equity Offering Capacity
Neutral
May 14, 2026
On May 14, 2026, Peraso Inc. filed a prospectus supplement to increase the maximum amount of common stock that can be issued under its at-the-market offering agreement with Ladenburg Thalmann Co. Inc. to an additional $670,000 of shares, excludin...
Business Operations and StrategyProduct-Related Announcements
Peraso Ships Initial 60GHz IFF Modules to iNTACT
Positive
Apr 14, 2026
On April 14, 2026, Peraso Inc. announced it had delivered an initial limited production shipment of its proprietary 60GHz modules, optimized for military Identification Friend or Foe applications including infantry and drone deployment, to Israeli...
Financial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Peraso Expands ATM Equity Program to Boost Liquidity
Negative
Apr 10, 2026
On March 16, 2026, Peraso told investors it expected about $1.2 million in revenue for the quarter ended March 31, 2026, but now estimates preliminary revenues will come in lower, at roughly $0.9 million to $1.0 million. The figures are based on i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.