Peraso, Inc. (PRSO)
NASDAQ:PRSO
Top Page
Peraso
(NASDAQ:PRSO)
Select Model
Select Model
Rating:45Neutral
Price Target:
$0.93
▼(-6.90% Downside)
Action:ReiteratedDate:03/31/26
The score is held down primarily by ongoing cash burn and lack of sustained profitability, alongside weak technical trend signals with the stock trading below major moving averages. Offsetting factors include improving margins and sharply reduced losses, plus earnings-call evidence of strategic progress in millimeter-wave—though near-term guidance is weakened by a shipment delay and demand visibility remains limited.
Positive Factors
Millimeter-wave revenue ramp
A ~7x jump in mmWave sales to $9.1M demonstrates clear product-market fit in high-bandwidth wireless niches. Durable demand for mmWave links (fixed wireless, backhaul, tactical comms, robotaxi data offload) supports sustainable revenue growth as OEM design wins scale into production.
Negative Factors
Persistent operating cash burn
Consistent negative operating and free cash flow indicate the business cannot yet self-fund growth and requires external financing or equity raises. Over a 2–6 month horizon this constrains strategic flexibility, increases dilution risk, and heightens execution pressure on ramps and design-win conversions.
Read all positive and negative factors
Positive Factors
Negative Factors
Millimeter-wave revenue ramp
A ~7x jump in mmWave sales to $9.1M demonstrates clear product-market fit in high-bandwidth wireless niches. Durable demand for mmWave links (fixed wireless, backhaul, tactical comms, robotaxi data offload) supports sustainable revenue growth as OEM design wins scale into production.
Read all positive factors
Peraso (PRSO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.63M
Dividend YieldN/A
Average Volume (3M)15.61M
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth2.15%
EPS Growth94.29%
CountryUS
Employees42
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.13
Shares Outstanding12,572,499
10 Day Avg. Volume744,818
30 Day Avg. Volume15,610,760
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 Cap0.16
Enterprise Value/Revenue0.17
Enterprise Value/Gross Profit0.29
Enterprise Value/Ebitda-0.44
Forecast
1Y Price Target
$3.00Price Target Upside200.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.28
Revenue Forecast (FY)$16.80M
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—most notably RF/beamforming ICs and associated modules/reference designs—into customer devices and infrastructure equipment. Revenue is generally generated on a per-unit basis w...
Peraso Earnings Call Summary
Earnings Call Date:Mar 16, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Neutral
The call conveyed meaningful progress in strategic areas—especially a large increase in millimeter wave revenue, several high-profile customer wins (including defense and robotaxi collaborations), improved gross margin (GAAP) and materially lower operating expenses—resulting in a significantly reduced annual GAAP net loss. Offsetting these positives were continuing total revenue declines year-over-year, a near-term supplier-caused shipment delay >$500k that weakens Q1 guidance (Q1 revenue ~ $1.2M), reduced non-GAAP gross margins due to product mix shift, negative adjusted EBITDA, and lower demand visibility from irregular customer order patterns. Overall, the company appears to be transitioning toward new higher-growth products with improved cost discipline, but near-term revenue and visibility risks temper the outlook.Positive Updates
Strong Millimeter Wave Revenue Growth
Full-year 2025 millimeter wave product sales increased to $9.1M from $1.3M in 2024 (approximately a 7x increase, ~+600% YoY). Q4 2025 millimeter wave revenues were $2.4M (versus $0.2M in Q4 2024). Management described millimeter wave revenue as having grown approximately six-fold year-over-year.
Negative Updates
Full-Year and Quarterly Revenue Declines
Total net revenue for full-year 2025 was $12.2M, down from $14.6M in 2024 (≈-16.4% YoY). Q4 2025 net revenue was $2.9M versus $3.7M in Q4 2024 and $3.2M in the prior quarter.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Millimeter Wave Revenue Growth
Full-year 2025 millimeter wave product sales increased to $9.1M from $1.3M in 2024 (approximately a 7x increase, ~+600% YoY). Q4 2025 millimeter wave revenues were $2.4M (versus $0.2M in Q4 2024). Management described millimeter wave revenue as having grown approximately six-fold year-over-year.
Read all positive updates
Company Guidance
Peraso guided to approximately $1.2 million of total net revenue for Q1 2026 assuming the delayed Asia‑supplier order does not contribute, noting the supplier issue is expected to reduce Q1 revenue by more than $500,000 with that shipment now anticipated in Q2 2026; management also said production revenue from the Intact defense engagement is expected to shift into the second half of 2026, and reiterated expectations for continued year‑over‑year growth in millimeter‑wave revenue after millimeter‑wave sales rose to $9.1 million in full‑year 2025 (about six‑fold versus $1.3M in 2024). For context, the company reported cash of approximately $2.9M as of 12/31/2025, roughly 12.0M shares outstanding (weighted average ~9.2M), and a full‑year adjusted EBITDA loss of $4.0M in 2025.Peraso Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
58
Neutral
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.19M | 14.57M | 13.75M | 14.87M | 5.68M |
| Gross Profit | 7.07M | 7.53M | 1.87M | 5.95M | 2.41M |
| EBITDA | -4.72M | -8.76M | -19.22M | -23.27M | -15.02M |
| Net Income | -4.75M | -10.73M | -16.80M | -32.40M | -10.91M |
Balance Sheet | |||||
| Total Assets | 6.08M | 7.21M | 10.71M | 22.49M | 47.95M |
| Cash, Cash Equivalents and Short-Term Investments | 2.89M | 3.34M | 1.58M | 2.91M | 15.16M |
| Total Debt | 192.00K | 321.00K | 719.00K | 1.49M | 667.00K |
| Total Liabilities | 1.44M | 3.74M | 6.63M | 7.23M | 5.88M |
| Stockholders Equity | 4.64M | 3.47M | 4.08M | 15.26M | 42.07M |
Cash Flow | |||||
| Free Cash Flow | -5.72M | -4.58M | -4.78M | -17.03M | -12.25M |
| Operating Cash Flow | -5.61M | -4.58M | -4.69M | -16.02M | -12.02M |
| Investing Cash Flow | -107.00K | 0.00 | 1.01M | 10.04M | 6.63M |
| Financing Cash Flow | 5.26M | 6.34M | 3.44M | 1.92M | 9.57M |
Peraso Technical Analysis
Negative
1.00
Price Trends
1.05
Negative
1.01
Positive
1.08
Negative
Market Momentum
-0.03
Positive
46.69
Neutral
32.50
Neutral
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 1 is below the 20-day moving average (MA) of 1.29, below the 50-day MA of 1.05, and below the 200-day MA of 1.08, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 46.69 is Neutral, neither overbought nor oversold. The STOCH value of 32.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PRSO.
Peraso Risk Analysis
Peraso disclosed 47 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $219.64M | -357.39 | -0.80% | ― | -0.41% | -134.49% | |
47 Neutral | $35.05M | -2.36 | 109.22% | ― | -38.72% | 16.01% | |
46 Neutral | $10.12M | -4.79 | -45.37% | ― | 729.81% | 61.92% | |
45 Neutral | $12.63M | -1.62 | -128.31% | ― | 2.15% | 94.29% | |
45 Neutral | $125.30M | -4.64 | -27.53% | ― | 7.53% | -15.00% | |
44 Neutral | $40.47M | -0.18 | -99.13% | ― | 2.80% | ― |
* Technology Sector Average
PRSO
Peraso
1.00
0.44
78.57%
PXLW
Pixelworks
5.51
-0.84
-13.16%
LEDS
SemiLEDs
1.23
-0.90
-42.25%
SQNS
Sequans Communications S A
2.53
-16.27
-86.54%
MRAM
Everspin Technologies
9.50
4.93
107.88%
VLN
Valens
1.19
-0.65
-35.33%
Peraso Corporate Events
Executive/Board Changes
Peraso Grants New Executive Stock Options to Leadership
Positive
Feb 13, 2026
On February 9, 2026, Peraso Inc.’s compensation committee granted 60,000 stock options each to Chief Executive Officer Ronald Glibbery, Chief Financial Officer James Sullivan and Chief Operating Officer Bradley Lynch, with an exercise price ...
Business Operations and StrategyM&A Transactions
Peraso continues due diligence talks on Mobix Labs deal
Neutral
Jan 21, 2026
Peraso Inc. disclosed that, following an initial confidentiality agreement signed on October 30, 2025, it remains in active discussions with Mobix Labs, Inc. over a potential strategic transaction and both parties are conducting customary confiden...
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.