Core Viewpoint - Peraso Inc. has regained compliance with Nasdaq's minimum bid price requirement, indicating a positive development for the company's stock performance [1] Company Summary - Peraso Inc. is a pioneer in mmWave wireless technology solutions [1] - As of September 18, 2025, the company's common stock has closed above the $1.00 minimum bid price requirement for the last 10 consecutive trading days [1]

Summary of Peraso Inc. Q3 2025 Investor Presentation Company Overview - **Company**: Peraso Inc. - **Industry**: Semiconductor, specifically focused on mmWave technology - **Business Model**: Fabless semiconductor company, designs chips and outsources manufacturing [2][23] Core Technology and Market Insights - **Technology Focus**: mmWave technology, operating in the spectrum of 24 to 300 gigahertz, emphasizing beamforming capabilities [3][4] - **Market Size**: The overall chipset market for mmWave technology is projected to grow from $5 billion to over $30 billion by 2033, representing a 25% compounded annual growth rate (CAGR) [4] - **Defense Market Growth**: The defense sector is expected to grow from $624 million to $7.179 billion, indicating a 42% CAGR [5] Key Applications - **Fixed Wireless Access**: High-speed internet access, with significant partnerships, notably with Ubiquiti, which has a valuation of approximately $30 billion [6][10] - **Stealth Communications**: Technology is crucial for military applications, providing low probability of detection and jamming, enhancing battlefield communication [12][13] - **Transportation**: Real-time high-speed internet for moving vehicles such as buses and trains [15] - **Professional Video Delivery**: Applications in virtual reality and real-time medical environments, such as operating rooms [16][17] - **Emerging Applications**: Autonomous vehicles requiring high data rates for information transfer [35][36] Financial Performance - **2024 Revenue**: Approximately $14.5 million, primarily from legacy memory products, transitioning to a pure mmWave focus [23][24] - **mmWave Revenue Growth**: Revenue increased from $1.5 million in the previous year to $3.8 million in the first half of 2025, with expectations for continued growth [24][25] - **Gross Margin Target**: Future target for mmWave products is approximately 50% gross margin, with recent performance nearing this target [25] Competitive Landscape - **Market Position**: Peraso is positioned as a leading supplier in the mmWave market, with limited competition following the exit of major players like Qualcomm [28][29] - **Unique Selling Proposition**: The technology's stealth capabilities and the ability to operate in unlicensed spectrum make it a preferred choice for various applications [27][31] Growth Opportunities - **BEAD Program**: A U.S. government initiative with a budget of $42.45 billion aimed at providing high-speed internet access, expected to benefit Peraso's fixed wireless business starting in 2026 [10][11] - **Military Applications**: Significant potential in military contracts, particularly in stealth communications and safety mechanisms to prevent friendly fire [14] Conclusion - **Investment Thesis**: The transition to a pure mmWave company is expected to drive growth, with increasing customer engagement and a robust pipeline of products in the market [21][26]

Summary of Peraso Q3 2025 Investor Presentation Company Overview - Peraso is a fabless semiconductor company focused on high-speed wireless communications, incorporated in 2008 and went public on NASDAQ in December 2021 [1] - The company has shipped over 2 million devices since 2016 and is a dominant player in the 60 GHz market [1] - Peraso holds over 50 patents and has nine essential claims in the 802.11ay standard [1] Industry Insights - The millimeter wave market is projected to grow from $5 billion in 2025 to $30 billion by 2033, representing a compound annual growth rate (CAGR) of 25% [3] - The defense sector is expected to grow at a CAGR of 42%, highlighting significant opportunities for Peraso [3] Key Markets and Applications - **Fixed Wireless Access**: - Ubiquiti is a lead customer, focusing on providing high-speed internet in rural markets [4][5] - The technology has evolved to support dense urban environments, with recent design wins in cities like Los Angeles and Las Vegas [6] - **Tactical Communications**: - The technology is difficult to detect and jam, making it suitable for military applications [9][10] - A major design win was announced with a Middle Eastern military contractor, emphasizing the technology's safety mechanisms [10][11] - **Transportation**: - The technology provides real-time high-performance internet access for various modes of transportation, including autonomous vehicles [12] - **Professional Video Delivery**: - Applications include VR and real-time video transmission in medical settings, such as operating rooms [13][14] Financial Performance - Revenue in 2024 was $14.6 million, with millimeter wave revenue at $1.5 million due to inventory issues from COVID-19 [20] - Revenue for 2025 is projected to increase, with Q2 revenue at $2.2 million and guidance for Q3 between $2.8 million and $3.1 million [20] Growth Pipeline - The number of customers in production increased from 11 in Q4 2023 to 14 in Q2 2025, with a significant growth in the product pipeline [15][18] - The company has 59 separate SKUs in the marketplace, nearly doubling from 31 in the previous period [18] Strategic Developments - The U.S. government's BEAD program, a $42.45 billion initiative to provide high-speed internet, is expected to positively impact Peraso's business [8] - The company is focused on maintaining a competitive edge in the 60 GHz semiconductor market, with significant barriers to entry for new competitors [19] Conclusion - Peraso is positioned as a premier supplier in the 60 GHz semiconductor space, with strong growth opportunities across multiple high-demand markets [19]

Core Insights - Peraso Inc. will present at the Investor Summit Virtual on September 16, 2025, highlighting its growth strategies and market opportunities [1] Company Overview - Peraso Inc. (NASDAQ:PRSO) specializes in high-performance 60 GHz unlicensed and 5G mmWave wireless technology, providing chipsets, modules, software, and intellectual property [1]

Group 1 - Mobix Labs has filed Form 425 with the SEC to announce its intention to commence a hostile exchange offer to acquire all outstanding shares of Peraso [1]

Core Insights - Peraso Inc. is undergoing a strategic review process and has recently engaged in a limited exploratory call with Mobix Labs on September 10, 2025 [1] Company Update - Peraso Inc. is recognized as a pioneer in mmWave wireless technology solutions [1] - The strategic review process indicates potential changes or developments in the company's direction or operations [1]

Core Insights - Peraso Inc. has received an initial volume order worth approximately $0.9 million for its PRM2141X module from a leading global equipment supplier in the fixed wireless access market [1] Group 1: Company Overview - Peraso Inc. is recognized as a pioneer in mmWave wireless technology solutions [1] - The PRM2141X module enables fiber-class broadband connectivity [1] Group 2: Market Impact - The order signifies Peraso's leadership as a supplier of 60GHz semiconductors and antenna technology [1] - The PRM2141X module allows OEMs and service providers to offer cost-efficient and rapidly deployable wireless equipment [1]

Core Viewpoint - Peraso Inc. has entered into a definitive agreement to exercise Series C warrants, allowing the purchase of 952,380 shares at a reduced price, generating approximately $1.1 million in gross proceeds [1]. Group 1 - The company is a pioneer in mmWave wireless technology solutions [1]. - The Series C warrants were originally issued in November 2024 [1]. - The reduced exercise price for the warrants is set at $1.18 per share [1]. Group 2 - The gross proceeds expected from this transaction are approximately $1.1 million before deducting fees and expenses [1].

Core Viewpoint - Mobix Labs has proposed an acquisition of Peraso, offering a mix of 30% cash and 70% stock to Peraso shareholders, aiming to close the transaction within 75 days [3][4][5] Group 1: Acquisition Proposal - The acquisition proposal includes approximately 30% cash and 70% Mobix Labs common stock, providing immediate value and future growth potential for Peraso shareholders [4][5] - Mobix Labs and Peraso are seen as a natural strategic fit, with Peraso's expertise in millimeter wave and wireless technologies complementing Mobix Labs' focus on aerospace and defense [5][8] Group 2: Value Creation - The proposed transaction is expected to unlock significant value through revenue growth, cost synergies, and enhanced market competitiveness [5][8] - Mobix Labs anticipates immediate cost savings from eliminating redundancies and streamlining operations post-acquisition [8] Group 3: Financial Outlook - The transaction is projected to be accretive quickly, boosting earnings per share and creating near-term stockholder value [8] - Mobix Labs has sufficient financing alternatives to fund the acquisition, positioning the combined company to benefit from increasing global investments in aerospace, defense, and advanced wireless markets [5][8]

Core Insights - Peraso Inc. has partnered with WeLink Communications to deploy high-speed broadband using mmWave technology in dense urban areas [1] - WeLink will utilize Peraso's 60 GHz technology to enhance its mesh-based fixed-wireless access architecture, providing multi-gigabit connectivity [1] - The collaboration reflects the increasing demand for 60 GHz solutions in urban environments, as noted by Peraso's CEO Ron Glibbery [1] Company Overview - Peraso Inc. is recognized as a pioneer in mmWave wireless technology solutions [1] - The company is publicly traded on NASDAQ under the ticker PRSO [1] Industry Context - The deployment of high-speed broadband is critical for underserved neighborhoods, highlighting a significant market opportunity [1] - The use of advanced 60 GHz technology is becoming essential for meeting the connectivity needs in densely populated areas [1]