Peraso, Inc. (PRSO)
NASDAQ:PRSO
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Peraso
(NASDAQ:PRSO)
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Rating:45Neutral
Price Target:
$0.91
▼(-5.98% Downside)
Action:ReiteratedDate:04/15/26
The score is primarily held back by persistent losses and ongoing cash burn despite margin improvement and low leverage. Technical signals are also weak, with the stock trading below major moving averages and negative momentum indicators. Earnings call commentary provides some offset via strong millimeter-wave growth and cost reductions, but near-term guidance headwinds and limited visibility constrain the overall outlook.
Positive Factors
Millimeter-wave revenue ramp
A roughly 7x increase in mmWave sales to $9.1M demonstrates product-market fit in higher-growth, adjacent markets (defense, robotaxi, tactical comms). This durable shift in revenue mix supports a higher-margin platform and underpins long-term scaling opportunities beyond legacy product declines.
Negative Factors
Persistent negative operating cash flow
Consistently negative operating and free cash flow forces dependence on external financing and limits ability to self-fund growth or cushion setbacks. Continued cash burn constrains R&D, inventory and production investments, raising execution risk absent sustained revenue or financing sources.
Read all positive and negative factors
Positive Factors
Negative Factors
Millimeter-wave revenue ramp
A roughly 7x increase in mmWave sales to $9.1M demonstrates product-market fit in higher-growth, adjacent markets (defense, robotaxi, tactical comms). This durable shift in revenue mix supports a higher-margin platform and underpins long-term scaling opportunities beyond legacy product declines.
Read all positive factors
Peraso (PRSO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.62M
Dividend YieldN/A
Average Volume (3M)3.41M
Price to Earnings (P/E)―
Beta (1Y)0.54
Revenue Growth-16.34%
EPS Growth83.54%
CountryUS
Employees42
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.13
Shares Outstanding12,572,499
10 Day Avg. Volume528,478
30 Day Avg. Volume3,405,913
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 Cap0.79
Enterprise Value/Revenue0.81
Enterprise Value/Gross Profit1.40
Enterprise Value/Ebitda-2.10
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: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
0.97
Price Trends
1.06
Negative
1.01
Negative
1.07
Negative
Market Momentum
-0.05
Positive
45.33
Neutral
45.97
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 0.97 is below the 20-day moving average (MA) of 1.02, below the 50-day MA of 1.06, and below the 200-day MA of 1.07, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 45.33 is Neutral, neither overbought nor oversold. The STOCH value of 45.97 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | $327.75M | -357.39 | -0.80% | ― | 9.52% | -181.95% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | $188.47M | -4.64 | -27.53% | ― | 22.06% | 11.78% | |
49 Neutral | $13.46M | -5.08 | -45.37% | ― | 133.48% | -92.38% | |
47 Neutral | $38.17M | -2.36 | 109.22% | ― | -38.72% | 16.01% | |
46 Neutral | $52.79M | -0.61 | -99.13% | ― | -24.98% | ― | |
45 Neutral | $12.62M | -1.29 | -128.31% | ― | -16.34% | 83.54% |
* Technology Sector Average
PRSO
Peraso
1.00
0.05
5.60%
PXLW
Pixelworks
6.00
-0.50
-7.69%
LEDS
SemiLEDs
1.63
-0.61
-27.23%
SQNS
Sequans Communications S A
3.30
-17.40
-84.06%
MRAM
Everspin Technologies
14.07
8.73
163.48%
VLN
Valens
1.79
-0.71
-28.40%
Peraso Corporate Events
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...
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 ...
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.