$PRSO Peraso Announces Fourth Quarter and Full Year 2025 Results
https://www.accessnewswire.com/newsroom/en/co...ts-1148123
Full Year mmWave Product Revenue Increased 6x Year-over-Year
SAN JOSE, CA / ACCESS Newswire / March 16, 2026 / Peraso Inc. (NASDAQ
RSO) ("Peraso" or the "Company"
, a pioneer in mmWave wireless technology solutions, today announced financial results for the fourth quarter and full year ended December 31, 2025.
Management Commentary
"We closed out 2025 with a solid fourth quarter that was in line with our guidance range and supported by continued year-over-year growth in mmWave product shipments," commented Ron Glibbery, CEO of Peraso. "For the full year, revenue from our mmWave products grew six-fold over 2024. Together with healthy gross margins and disciplined expense management, this contributed meaningful improvement to our year-over-year bottom-line results.
"Over the past several months, we have demonstrated steady progress on expanding the adoption of our 60 GHz mmWave technology, as we have secured multiple design wins with new and existing customers. In the fixed wireless market, we continued to improve our position as the dominant supplier of 60 GHz semiconductors with MikroTik's launch of its next-generation 60 GHz wireless device. In the tactical communications market, our existing Israeli defense customer, InTACT, selected Peraso's mmWave wireless technology to enable secure data transmission for next-generation drone Identification Friend or Foe systems. Notably, we are seeing growing demand for extremely high data rate applications, particularly in congested environments where existing wireless technologies such as Wi-Fi can fail due to interference issues. This trend was highlighted by our recently announced collaboration with Virewirx, which is developing 60 GHz multi-gigabit connectivity solutions for robotaxi applications that require download rates in the order of 1 terabit per hour. As conventional Wi-Fi and 5G solutions can become oversaturated at these data rates, customers are increasingly turning to 60 GHz mmWave technology as an alternative.
"Looking ahead for the remainder of 2026, we are encouraged by the growing market awareness of 60 GHz wireless technology and its ability to efficiently deliver high-bandwidth, secure connectivity in congested operating environments. Our focus remains on broadening our customer base and pipeline of design wins within both fixed wireless access and tactical communications, while also selectively capitalizing on high-growth opportunities for Peraso's mmWave-based solutions in adjacent markets."
Fourth Quarter 2025 Financial Results
Total net revenue for the fourth quarter of 2025 was $2.9 million, compared with $3.2 million in the prior quarter and $3.7 million in the same quarter a year ago. Product revenue for the fourth quarter of 2025 was $2.8 million, compared with $3.1 million in the prior quarter and $3.7 million in the same quarter a year ago. The year over year decrease in product revenue for the fourth quarter of 2025 was primarily attributable to lower shipments of our memory IC products, partially offset by increased shipments of our mmWave products.
GAAP gross margin for the fourth quarter of 2025 was 52.2%, compared with 56.2% in the prior quarter and 56.3% in the same quarter a year ago. On a non-GAAP basis, gross margin for the fourth quarter of 2025 was also 52.2%, compared with 56.2% in the prior quarter and 71.6% in the same quarter a year ago. The sequential decrease in both the GAAP and non-GAAP gross margins for the fourth quarter of 2025 was primarily attributable to the reduction in shipments of memory IC products.
Total operating expenses on a GAAP basis for the fourth quarter of 2025 were $2.8 million, compared with $3.0 million in the prior quarter and $3.7 million in the same quarter a year ago. Operating expenses on a non-GAAP basis for the fourth quarter of 2025, which excluded stock-based compensation, were $2.7 million compared with $2.9 million in the prior quarter and $3.2 million in the same quarter a year ago. The year-over-year decrease in fourth 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 fourth quarter of 2025 was $1.2 million, or ($0.13) per share, compared with a net loss of $1.2 million, or ($0.17) per share, in the prior quarter, and a net loss of $1.6 million, or ($0.37) per share, in the fourth quarter 0f 2024. Non-GAAP net loss, which excludes stock-based compensation, amortization of intangibles, severance costs and changes in fair value of warrant liabilities, for the fourth quarter of 2025 was $1.2 million, or ($0.13) per share, compared with a net loss of $1.1 million, or ($0.15) per share, in the prior quarter and a net loss of $0.5 million, or ($0.13) per share, in the fourth quarter of 2024.
Adjusted EBITDA for the fourth quarter of 2025 was negative $1.1 million, compared with negative $1.0 million in the prior quarter and negative $0.4 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.
Full Year 2025 Financial Results
Total net revenue for 2025 was $12.2 million compared with $14.6 million in the prior year. Product revenue in 2025 was $11.8 million, compared with $14.2 million in 2024. The decreases in total net revenue and product revenue were attributable to decreased shipments of memory IC products, partially offset by increased shipments of mmWave products.
GAAP gross margin for 2025 was 58.0%, compared with 51.7% for 2024. On a non-GAAP basis, gross margin for 2025 was 58.0%, compared with 67.2% for 2024. The year-over-year increase in GAAP gross margin primarily reflected increased mmWave margins due to increased shipments and an increase in memory IC product margins, due to reduced amortization expense related to intangible assets, which were fully amortized as of December 31, 2024. The decrease in gross margin on a non-GAAP basis reflected the reduction in memory IC shipments during 2025.
Total operating expenses on a GAAP basis for 2025 were $11.8 million, compared with operating expenses of $20.0 million for 2024. Total non-GAAP operating expenses for 2025, excluding stock-based compensation expenses, severance costs and amortization of intangible assets, were $11.3 million, compared with $14.9 million in 2024. The decrease in operating expenses on a non-GAAP basis for full year 2025 compared with 2024 was primarily attributable to a $1.8 million decrease in software license obligation costs and the benefits realized from previously implemented cost reductions and ongoing cost containment initiatives. A reconciliation of GAAP results to non-GAAP results is provided in the financial statement tables following the text of this press release.
GAAP net loss for 2025 was $4.8 million, or ($0.67) per share, compared with a net loss of $10.7 million, or ($3.57) per share, for 2024.
Non-GAAP net loss for 2025 was $4.3 million, or ($0.60) per share, compared with a net loss of $5.1 million, or ($1.71) per share, in 2024. Adjusted EBITDA for 2025 was a negative $4.0 million, compared with a negative $4.5 million for 2024.
Earnings Conference Call and Webcast Information
Ron Glibbery, CEO, and Jim Sullivan, CFO, will host a conference call and webcast with slides today, March 16th, at 1:30 p.m. Pacific Time.
Date: Monday, March 16, 2026
Time: 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time)
Conference Call Number: 1-888-545-0523
International Call Number: +1-973-528-0016
Participant Access Code: 703174
Webcast and Slides: Click Here
https://www.accessnewswire.com/newsroom/en/co...ts-1148123
Full Year mmWave Product Revenue Increased 6x Year-over-Year
SAN JOSE, CA / ACCESS Newswire / March 16, 2026 / Peraso Inc. (NASDAQ
RSO) ("Peraso" or the "Company" , a pioneer in mmWave wireless technology solutions, today announced financial results for the fourth quarter and full year ended December 31, 2025. Management Commentary
"We closed out 2025 with a solid fourth quarter that was in line with our guidance range and supported by continued year-over-year growth in mmWave product shipments," commented Ron Glibbery, CEO of Peraso. "For the full year, revenue from our mmWave products grew six-fold over 2024. Together with healthy gross margins and disciplined expense management, this contributed meaningful improvement to our year-over-year bottom-line results.
"Over the past several months, we have demonstrated steady progress on expanding the adoption of our 60 GHz mmWave technology, as we have secured multiple design wins with new and existing customers. In the fixed wireless market, we continued to improve our position as the dominant supplier of 60 GHz semiconductors with MikroTik's launch of its next-generation 60 GHz wireless device. In the tactical communications market, our existing Israeli defense customer, InTACT, selected Peraso's mmWave wireless technology to enable secure data transmission for next-generation drone Identification Friend or Foe systems. Notably, we are seeing growing demand for extremely high data rate applications, particularly in congested environments where existing wireless technologies such as Wi-Fi can fail due to interference issues. This trend was highlighted by our recently announced collaboration with Virewirx, which is developing 60 GHz multi-gigabit connectivity solutions for robotaxi applications that require download rates in the order of 1 terabit per hour. As conventional Wi-Fi and 5G solutions can become oversaturated at these data rates, customers are increasingly turning to 60 GHz mmWave technology as an alternative.
"Looking ahead for the remainder of 2026, we are encouraged by the growing market awareness of 60 GHz wireless technology and its ability to efficiently deliver high-bandwidth, secure connectivity in congested operating environments. Our focus remains on broadening our customer base and pipeline of design wins within both fixed wireless access and tactical communications, while also selectively capitalizing on high-growth opportunities for Peraso's mmWave-based solutions in adjacent markets."
Fourth Quarter 2025 Financial Results
Total net revenue for the fourth quarter of 2025 was $2.9 million, compared with $3.2 million in the prior quarter and $3.7 million in the same quarter a year ago. Product revenue for the fourth quarter of 2025 was $2.8 million, compared with $3.1 million in the prior quarter and $3.7 million in the same quarter a year ago. The year over year decrease in product revenue for the fourth quarter of 2025 was primarily attributable to lower shipments of our memory IC products, partially offset by increased shipments of our mmWave products.
GAAP gross margin for the fourth quarter of 2025 was 52.2%, compared with 56.2% in the prior quarter and 56.3% in the same quarter a year ago. On a non-GAAP basis, gross margin for the fourth quarter of 2025 was also 52.2%, compared with 56.2% in the prior quarter and 71.6% in the same quarter a year ago. The sequential decrease in both the GAAP and non-GAAP gross margins for the fourth quarter of 2025 was primarily attributable to the reduction in shipments of memory IC products.
Total operating expenses on a GAAP basis for the fourth quarter of 2025 were $2.8 million, compared with $3.0 million in the prior quarter and $3.7 million in the same quarter a year ago. Operating expenses on a non-GAAP basis for the fourth quarter of 2025, which excluded stock-based compensation, were $2.7 million compared with $2.9 million in the prior quarter and $3.2 million in the same quarter a year ago. The year-over-year decrease in fourth 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 fourth quarter of 2025 was $1.2 million, or ($0.13) per share, compared with a net loss of $1.2 million, or ($0.17) per share, in the prior quarter, and a net loss of $1.6 million, or ($0.37) per share, in the fourth quarter 0f 2024. Non-GAAP net loss, which excludes stock-based compensation, amortization of intangibles, severance costs and changes in fair value of warrant liabilities, for the fourth quarter of 2025 was $1.2 million, or ($0.13) per share, compared with a net loss of $1.1 million, or ($0.15) per share, in the prior quarter and a net loss of $0.5 million, or ($0.13) per share, in the fourth quarter of 2024.
Adjusted EBITDA for the fourth quarter of 2025 was negative $1.1 million, compared with negative $1.0 million in the prior quarter and negative $0.4 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.
Full Year 2025 Financial Results
Total net revenue for 2025 was $12.2 million compared with $14.6 million in the prior year. Product revenue in 2025 was $11.8 million, compared with $14.2 million in 2024. The decreases in total net revenue and product revenue were attributable to decreased shipments of memory IC products, partially offset by increased shipments of mmWave products.
GAAP gross margin for 2025 was 58.0%, compared with 51.7% for 2024. On a non-GAAP basis, gross margin for 2025 was 58.0%, compared with 67.2% for 2024. The year-over-year increase in GAAP gross margin primarily reflected increased mmWave margins due to increased shipments and an increase in memory IC product margins, due to reduced amortization expense related to intangible assets, which were fully amortized as of December 31, 2024. The decrease in gross margin on a non-GAAP basis reflected the reduction in memory IC shipments during 2025.
Total operating expenses on a GAAP basis for 2025 were $11.8 million, compared with operating expenses of $20.0 million for 2024. Total non-GAAP operating expenses for 2025, excluding stock-based compensation expenses, severance costs and amortization of intangible assets, were $11.3 million, compared with $14.9 million in 2024. The decrease in operating expenses on a non-GAAP basis for full year 2025 compared with 2024 was primarily attributable to a $1.8 million decrease in software license obligation costs and the benefits realized from previously implemented cost reductions and ongoing cost containment initiatives. A reconciliation of GAAP results to non-GAAP results is provided in the financial statement tables following the text of this press release.
GAAP net loss for 2025 was $4.8 million, or ($0.67) per share, compared with a net loss of $10.7 million, or ($3.57) per share, for 2024.
Non-GAAP net loss for 2025 was $4.3 million, or ($0.60) per share, compared with a net loss of $5.1 million, or ($1.71) per share, in 2024. Adjusted EBITDA for 2025 was a negative $4.0 million, compared with a negative $4.5 million for 2024.
Earnings Conference Call and Webcast Information
Ron Glibbery, CEO, and Jim Sullivan, CFO, will host a conference call and webcast with slides today, March 16th, at 1:30 p.m. Pacific Time.
Date: Monday, March 16, 2026
Time: 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time)
Conference Call Number: 1-888-545-0523
International Call Number: +1-973-528-0016
Participant Access Code: 703174
Webcast and Slides: Click Here
