Peraso Announces Third Quarter 2026 Results
https://www.accessnewswire.com/newsroom/en/co...ts-1250768
SAN JOSE, CA / ACCESS Newswire / November 12, 2026 / Peraso Inc. (NASDAQ
RSO) ("Peraso" or the "Company"
, a leader in high-performance 60 GHz wireless technology, today announced financial results for the third quarter ended September 30, 2026.
Management Commentary
"Our third-quarter results reflected the previously indicated headwinds from irregular order patterns among our customers in the fixed wireless access market. That said, we have begun to see early signs of renewed customer demand in the fourth quarter," said Ron Glibbery, CEO of Peraso. "Most notably, in October we received a production order exceeding $2 million for a 60 GHz fixed wireless access deployment-representing the largest FWA order received in the last six quarters."
"In addition, we have continued to make meaningful progress advancing multiple strategic initiatives that will be key to unlocking our future growth. During the quarter, we introduced our PRM2145 jam-resistant communications module, specifically designed for UAV and defense applications. We also showcased our technology at the 11th Annual UAV Technology Conference, and we recently demonstrated high-speed 60 GHz connectivity for applications in humanoid robots. Collectively, these developments further highlight the differentiated advantages of our 60 GHz mmWave platform-particularly its stealthy, anti-jamming, and high-capacity characteristics-in defense, tactical, UAV, and autonomous Edge AI applications.
"Looking forward, we believe the breadth of our customer engagements, and the growing recognition of 60 GHz technology, positions Peraso to return to revenue growth beginning in the fourth quarter. Additionally, the recently completed private placement with Nant Capital, LLC, which generated gross proceeds of approximately $10 million meaningfully strengthens our financial position and provides working capital to support, among other things, the development and commercialization of our advanced drone communications solutions. With this strengthened financial position, our board of directors has concluded its previously disclosed review of strategic alternatives. Our focus remains on converting a growing number of opportunities into design wins and production orders in support of driving top-line growth."
Third Quarter 2026 Financial Results
Total net revenue for the third quarter of 2026 was $0.3 million, compared with $1.3 million in the prior quarter and $3.2 million in the same quarter a year ago. Product revenue for the third quarter of 2026 was $0.3 million, compared with $1.2 million in the prior quarter and $3.1 million in the same quarter a year ago. The decrease in product revenue for the third quarter of 2026 was attributable to reduced shipments of mmWave products to fixed wireless access customers.
Gross margin for the third quarter of 2026 was 78.5%, compared with 63.7% in the prior quarter and 56.2% in the same quarter a year ago. The sequential and year-over-year increase in gross margin was primarily attributable to a more favorable mix of mmWave product revenue and a one-time benefit of approximately $55,000 from the reversal of an inventory-related accrual.
Total operating expenses on a GAAP basis for the third quarter of 2026 were $2.9 million, compared with $3.1 million in the prior quarter and $3.0 million in the same quarter a year ago. Operating expenses on a non-GAAP basis for the third quarter of 2026, which excluded stock-based compensation, were $2.7 million, compared with $2.9 million in both the prior quarter and the third quarter of 2025.
GAAP net loss for the third quarter of 2026 was $2.7 million, or ($0.18) per share, compared with a net loss of $2.2 million, or ($0.16) per share, in the prior quarter, and a net loss of $1.2 million, or ($0.17) per share, in the third quarter of 2025. Non-GAAP net loss, which excludes stock-based compensation and changes in fair value of warrant liabilities, for the third quarter of 2026 was $2.5 million, or ($0.16) per share, compared with a net loss of $2.1 million, or ($0.15) per share, in the prior quarter and a net loss of $1.1 million, or ($0.15) per share, in the third quarter of 2025.
Adjusted EBITDA for the third quarter of 2026 was negative $2.4 million, compared with negative $2.0 million in the prior quarter and negative $1.0 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.
https://www.accessnewswire.com/newsroom/en/co...ts-1250768
SAN JOSE, CA / ACCESS Newswire / November 12, 2026 / Peraso Inc. (NASDAQ
RSO) ("Peraso" or the "Company" , a leader in high-performance 60 GHz wireless technology, today announced financial results for the third quarter ended September 30, 2026. Management Commentary
"Our third-quarter results reflected the previously indicated headwinds from irregular order patterns among our customers in the fixed wireless access market. That said, we have begun to see early signs of renewed customer demand in the fourth quarter," said Ron Glibbery, CEO of Peraso. "Most notably, in October we received a production order exceeding $2 million for a 60 GHz fixed wireless access deployment-representing the largest FWA order received in the last six quarters."
"In addition, we have continued to make meaningful progress advancing multiple strategic initiatives that will be key to unlocking our future growth. During the quarter, we introduced our PRM2145 jam-resistant communications module, specifically designed for UAV and defense applications. We also showcased our technology at the 11th Annual UAV Technology Conference, and we recently demonstrated high-speed 60 GHz connectivity for applications in humanoid robots. Collectively, these developments further highlight the differentiated advantages of our 60 GHz mmWave platform-particularly its stealthy, anti-jamming, and high-capacity characteristics-in defense, tactical, UAV, and autonomous Edge AI applications.
"Looking forward, we believe the breadth of our customer engagements, and the growing recognition of 60 GHz technology, positions Peraso to return to revenue growth beginning in the fourth quarter. Additionally, the recently completed private placement with Nant Capital, LLC, which generated gross proceeds of approximately $10 million meaningfully strengthens our financial position and provides working capital to support, among other things, the development and commercialization of our advanced drone communications solutions. With this strengthened financial position, our board of directors has concluded its previously disclosed review of strategic alternatives. Our focus remains on converting a growing number of opportunities into design wins and production orders in support of driving top-line growth."
Third Quarter 2026 Financial Results
Total net revenue for the third quarter of 2026 was $0.3 million, compared with $1.3 million in the prior quarter and $3.2 million in the same quarter a year ago. Product revenue for the third quarter of 2026 was $0.3 million, compared with $1.2 million in the prior quarter and $3.1 million in the same quarter a year ago. The decrease in product revenue for the third quarter of 2026 was attributable to reduced shipments of mmWave products to fixed wireless access customers.
Gross margin for the third quarter of 2026 was 78.5%, compared with 63.7% in the prior quarter and 56.2% in the same quarter a year ago. The sequential and year-over-year increase in gross margin was primarily attributable to a more favorable mix of mmWave product revenue and a one-time benefit of approximately $55,000 from the reversal of an inventory-related accrual.
Total operating expenses on a GAAP basis for the third quarter of 2026 were $2.9 million, compared with $3.1 million in the prior quarter and $3.0 million in the same quarter a year ago. Operating expenses on a non-GAAP basis for the third quarter of 2026, which excluded stock-based compensation, were $2.7 million, compared with $2.9 million in both the prior quarter and the third quarter of 2025.
GAAP net loss for the third quarter of 2026 was $2.7 million, or ($0.18) per share, compared with a net loss of $2.2 million, or ($0.16) per share, in the prior quarter, and a net loss of $1.2 million, or ($0.17) per share, in the third quarter of 2025. Non-GAAP net loss, which excludes stock-based compensation and changes in fair value of warrant liabilities, for the third quarter of 2026 was $2.5 million, or ($0.16) per share, compared with a net loss of $2.1 million, or ($0.15) per share, in the prior quarter and a net loss of $1.1 million, or ($0.15) per share, in the third quarter of 2025.
Adjusted EBITDA for the third quarter of 2026 was negative $2.4 million, compared with negative $2.0 million in the prior quarter and negative $1.0 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.
