$PRSO Peraso Announces Third Quarter 2025 Results
https://www.accessnewswire.com/newsroom/en/co...ts-1099696
mmWave Product Revenue Increases 35% Sequentially to Quarterly Record
SAN JOSE, CA / ACCESS Newswire / November 10, 2025 / Peraso Inc. (NASDAQ
RSO) ("Peraso" or the "Company"
, a pioneer in mmWave wireless technology solutions, today announced financial results for the third quarter ended September 30, 2025.
Management Commentary
"We had a notably strong third quarter, with total revenue increasing more than 45% sequentially driven by record quarterly revenue from our mmWave products," commented Ron Glibbery, CEO of Peraso. "Complementing our top-line growth in the quarter, we delivered solid gross margin, while prudently managing expenses, contributing to improved bottom-line results.
"Also, during the quarter, we secured multiple design wins with both existing and new customers. This included our announced collaboration with WeLink to accelerate the deployment of high-speed broadband across dense urban areas in the U.S. leveraging Peraso's 60 GHz technology. Then, in September, we received an initial production volume order from a new OEM customer valued at $0.9 million for the fixed wireless access equipment market. Most recently, we also completed initial field trials with our lead customer in the tactical communications market for a next-generation, mission-critical defense application.
"Our go-forward focus remains on further expanding our customer base and served markets that can benefit from the high-bandwidth, secure and power-efficient connectivity offered by Peraso's 60 GHz wireless solutions. This includes continuing to convert our pipeline of existing customer engagements into additional design-wins, spanning mmWave fixed wireless access and adjacent new market applications for our 60 GHz solutions."
Third Quarter 2025 Financial Results
Total net revenue for the third quarter of 2025 was $3.2 million, compared with $2.2 million in the prior quarter and $3.8 million in the same quarter a year ago. Product revenue for the third quarter of 2025 was $3.1 million, compared with $2.2 million in the prior quarter and $3.8 million in the same quarter a year ago. The sequential increase in total revenue was primarily attributable to a continued ramp in shipments of mmWave products.
GAAP gross margin for the third quarter of 2025 was 56.2%, compared with 48.3% in the prior quarter and 47.0% in the same quarter a year ago. On a non-GAAP basis, gross margin for the third quarter of 2025 was 56.2%, compared with 48.3% in the prior quarter and 61.7% in the same quarter a year ago. The sequential increase in both the GAAP and non-GAAP gross margins for the third quarter of 2025 was primarily attributable to a more favorable revenue mix of mmWave products and solutions, as well as shipments of inventory written down in prior periods.
Total operating expenses on a GAAP basis for the third quarter of 2025 were $3.0 million, compared with $2.9 million in the prior quarter and $4.5 million in the same quarter a year ago. Operating expenses on a non-GAAP basis for the third quarter of 2025, which excluded stock-based compensation, were $2.9 million compared with $2.7 million in the prior quarter and $3.3 million in the same quarter a year ago. The year-over-year decrease in third quarter 2025 operating expenses on a GAAP basis was primarily attributable to reduced stock-based compensation expense and amortization expense related to intangible assets, which were fully amortized as of December 31, 2024.
GAAP net loss for the third quarter of 2025 was $1.2 million, or ($0.17) per share, compared with a net loss of $1.8 million, or ($0.31) per share, in the prior quarter and a net loss of $2.7 million, or ($0.98) per share, in the third quarter 0f 2024. Non-GAAP net loss, which also excludes the change in fair value of warrant liabilities, for the third quarter of 2025 was $1.1 million, or ($0.15) per share, compared with a net loss of $1.7 million, or ($0.28) per share, in the prior quarter and a net loss of $0.9 million, or ($0.34) per share, in the third quarter of 2024.
Adjusted EBITDA for the third quarter of 2025 was negative $1.0 million, compared with negative $1.6 million in the prior quarter and negative $0.8 million in the same quarter last year.
A reconciliation of GAAP to non-GAAP results and GAAP net loss to Adjusted EBITDA is provided in the financial statement tables following the text of this press release.
Business Outlook
The Company expects total net revenue for the fourth quarter of 2025 to be in the range of $2.8 million to $3.1 million.
Earnings Conference Call and Webcast Information
Ron Glibbery, CEO, and Jim Sullivan, CFO, will host a conference call and webcast with slides today, November 10th, at 1:30 p.m. Pacific Time.
Date: Monday, November 10, 2025
Time: 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time)
Conference Call Number: 1-888-506-0062
International Call Number: +1-973-528-0011
Participant Access Code: 634638
Webcast and Slides: Click Here
For those unable to listen to the live Web broadcast, it will be archived on the Company's website, and can be accessed by visiting the Company's investor page at https://investors.perasoinc.com/events-presentations. A replay of the conference call will also be available through November 17, 2025 and can be accessed by calling 1-877-481-4010, and using passcode 53125. International callers should dial 1-919-882-2331 and enter the same passcode at the prompt. Any supporting materials referenced during the live broadcast will be made available in the Investor Relations section of the Company's website following the conclusion of the conference call.
https://www.accessnewswire.com/newsroom/en/co...ts-1099696
mmWave Product Revenue Increases 35% Sequentially to Quarterly Record
SAN JOSE, CA / ACCESS Newswire / November 10, 2025 / Peraso Inc. (NASDAQ
RSO) ("Peraso" or the "Company" , a pioneer in mmWave wireless technology solutions, today announced financial results for the third quarter ended September 30, 2025. Management Commentary
"We had a notably strong third quarter, with total revenue increasing more than 45% sequentially driven by record quarterly revenue from our mmWave products," commented Ron Glibbery, CEO of Peraso. "Complementing our top-line growth in the quarter, we delivered solid gross margin, while prudently managing expenses, contributing to improved bottom-line results.
"Also, during the quarter, we secured multiple design wins with both existing and new customers. This included our announced collaboration with WeLink to accelerate the deployment of high-speed broadband across dense urban areas in the U.S. leveraging Peraso's 60 GHz technology. Then, in September, we received an initial production volume order from a new OEM customer valued at $0.9 million for the fixed wireless access equipment market. Most recently, we also completed initial field trials with our lead customer in the tactical communications market for a next-generation, mission-critical defense application.
"Our go-forward focus remains on further expanding our customer base and served markets that can benefit from the high-bandwidth, secure and power-efficient connectivity offered by Peraso's 60 GHz wireless solutions. This includes continuing to convert our pipeline of existing customer engagements into additional design-wins, spanning mmWave fixed wireless access and adjacent new market applications for our 60 GHz solutions."
Third Quarter 2025 Financial Results
Total net revenue for the third quarter of 2025 was $3.2 million, compared with $2.2 million in the prior quarter and $3.8 million in the same quarter a year ago. Product revenue for the third quarter of 2025 was $3.1 million, compared with $2.2 million in the prior quarter and $3.8 million in the same quarter a year ago. The sequential increase in total revenue was primarily attributable to a continued ramp in shipments of mmWave products.
GAAP gross margin for the third quarter of 2025 was 56.2%, compared with 48.3% in the prior quarter and 47.0% in the same quarter a year ago. On a non-GAAP basis, gross margin for the third quarter of 2025 was 56.2%, compared with 48.3% in the prior quarter and 61.7% in the same quarter a year ago. The sequential increase in both the GAAP and non-GAAP gross margins for the third quarter of 2025 was primarily attributable to a more favorable revenue mix of mmWave products and solutions, as well as shipments of inventory written down in prior periods.
Total operating expenses on a GAAP basis for the third quarter of 2025 were $3.0 million, compared with $2.9 million in the prior quarter and $4.5 million in the same quarter a year ago. Operating expenses on a non-GAAP basis for the third quarter of 2025, which excluded stock-based compensation, were $2.9 million compared with $2.7 million in the prior quarter and $3.3 million in the same quarter a year ago. The year-over-year decrease in third quarter 2025 operating expenses on a GAAP basis was primarily attributable to reduced stock-based compensation expense and amortization expense related to intangible assets, which were fully amortized as of December 31, 2024.
GAAP net loss for the third quarter of 2025 was $1.2 million, or ($0.17) per share, compared with a net loss of $1.8 million, or ($0.31) per share, in the prior quarter and a net loss of $2.7 million, or ($0.98) per share, in the third quarter 0f 2024. Non-GAAP net loss, which also excludes the change in fair value of warrant liabilities, for the third quarter of 2025 was $1.1 million, or ($0.15) per share, compared with a net loss of $1.7 million, or ($0.28) per share, in the prior quarter and a net loss of $0.9 million, or ($0.34) per share, in the third quarter of 2024.
Adjusted EBITDA for the third quarter of 2025 was negative $1.0 million, compared with negative $1.6 million in the prior quarter and negative $0.8 million in the same quarter last year.
A reconciliation of GAAP to non-GAAP results and GAAP net loss to Adjusted EBITDA is provided in the financial statement tables following the text of this press release.
Business Outlook
The Company expects total net revenue for the fourth quarter of 2025 to be in the range of $2.8 million to $3.1 million.
Earnings Conference Call and Webcast Information
Ron Glibbery, CEO, and Jim Sullivan, CFO, will host a conference call and webcast with slides today, November 10th, at 1:30 p.m. Pacific Time.
Date: Monday, November 10, 2025
Time: 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time)
Conference Call Number: 1-888-506-0062
International Call Number: +1-973-528-0011
Participant Access Code: 634638
Webcast and Slides: Click Here
For those unable to listen to the live Web broadcast, it will be archived on the Company's website, and can be accessed by visiting the Company's investor page at https://investors.perasoinc.com/events-presentations. A replay of the conference call will also be available through November 17, 2025 and can be accessed by calling 1-877-481-4010, and using passcode 53125. International callers should dial 1-919-882-2331 and enter the same passcode at the prompt. Any supporting materials referenced during the live broadcast will be made available in the Investor Relations section of the Company's website following the conclusion of the conference call.
