UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 PERASO INC. (Exact name of registrant as specified in its charter) FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-32929 (State or other jurisdiction of (I.R.S. Employer Incorpor ...

Peraso (PRSO) Q1 2025 Earnings Call May 12, 2025 04:30 PM ET Company Participants James Sullivan - Chief Financial OfficerRonald Glibbery - Co-Founder, CEO & DirectorKevin Liu - Founder & CEO Conference Call Participants David Williams - Equity Research Analyst Operator Good afternoon. Welcome to Puraso, Inc. First Quarter twenty twenty five Conference Call. At this time, all participants are in a listen only mode. As a reminder, this conference call is being I would now like to turn the call over to your h ...

Peraso (PRSO) Q1 2025 Earnings Call May 12, 2025 04:30 PM ET Speaker0 Good afternoon. Welcome to Puraso, Inc. First Quarter twenty twenty five Conference Call. At this time, all participants are in a listen only mode. As a reminder, this conference call is being I would now like to turn the call over to your host for today's conference call, Mr. Jim Sullivan. Please go ahead. Speaker1 Good afternoon, and thank you for joining today's conference call to discuss first quarter twenty twenty five financial resu ...

EX-99.1 2 prso_ex991.htm PRESS RELEASE EXHIBIT 99.1 Peraso Announces First Quarter 2025 Results First Quarter Total Revenue Increased 37% Year-over-Year, Driven by Triple-Digit Growth from mmWave Products SAN JOSE, Calif., May 12, 2025 – Peraso Inc. (NASDAQ: PRSO) ("Peraso" or the "Company"), a pioneer in mmWave wireless technology solutions, today announced financial results for the first quarter ended March 31, 2025. Management Commentary "Our first quarter results demonstrated continued progress and year ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 000-32929 PERASO INC. (Exact name of registrant as specified in its charter) Delaware 77-0291941 (State or other jurisdiction of incorporation or organization) (IRS Employer Identificatio ...

Peraso (PRSO) Q4 2024 Earnings Call March 19, 2025 11:03 PM ET Company Participants James Sullivan - Chief Financial OfficerRonald Glibbery - Co-Founder, CEO & DirectorKevin Liu - Founder & CEO Conference Call Participants David Williams - Equity Research Analyst Operator and welcome to PIRAZULINK's Fourth Quarter twenty twenty four Conference Call. At this time, all participants are in a listen only mode. As a reminder, this conference call is being recorded today, Wednesday, 03/19/2025. I would now like t ...

Peraso Inc. (NASDAQ:PRSO) Q4 2024 Earnings Conference Call March 19, 2025 5:00 PM ET Company Participants James Sullivan - Chief Financial Officer Ron Glibbery - Chief Executive Officer Conference Call Participants David Williams - Benchmark Kevin Liu - K. Liu & Company Operator Good afternoon, and welcome to Peraso Inc.'s Fourth Quarter 2024 Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference call is being recorded today, Wednesda ...

Peraso (PRSO) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.17. This compares to loss of $8.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 23.53%. A quarter ago, it was expected that this semiconductor technology company would post a loss of $0.17 per share when it actually produced a loss of $0.34, delivering a surprise of -100%.Over the last four quarters, the compa ...

Peraso (PRSO) Q4 2024 Earnings Call March 19, 2025 05:00 PM ET Company Participants James Sullivan - Chief Financial OfficerRonald Glibbery - Co-Founder, CEO & DirectorKevin Liu - Founder & CEO Conference Call Participants David Williams - Equity Research Analyst Operator and welcome to PIRAZULINK's Fourth Quarter twenty twenty four Conference Call. At this time, all participants are in a listen only mode. As a reminder, this conference call is being recorded today, Wednesday, 03/19/2025. I would now like t ...

Revenue Performance - Fourth quarter total revenue increased 100% year-over-year to $3.7 million, compared to $1.8 million in the same quarter a year ago[1][4] - Full year 2024 total net revenue was $14.6 million, compared to $13.7 million in 2023, driven by increased shipments of memory IC products[10] - Total net revenue for Q4 2024 was $3,678 million, a 100% increase from $1,832 million in Q4 2023[23] - The company expects total net revenue for Q1 2025 to be in the range of $3.6 million to $4.0 million[14] - The company anticipates significant growth in mmWave revenue throughout 2025, with Q1 2025 expected to exceed full year 2024 revenue[4] Profitability and Margins - GAAP gross margin for the fourth quarter expanded to 56.3%, up from 47.0% in the prior quarter and negative 147.3% a year ago; non-GAAP gross margin reached 71.6%[5] - GAAP gross margin for 2024 was 51.7%, significantly improved from 13.6% in 2023; non-GAAP gross margin was 67.2%[11] - Gross profit for Q4 2024 was $2,069 million, compared to a gross loss of $2,699 million in Q4 2023, marking a significant turnaround[23] Operating Expenses - Total operating expenses on a GAAP basis decreased to $3.7 million in Q4 2024, down from $4.5 million in the prior quarter and $5.5 million a year ago[6] - Total operating expenses on a non-GAAP basis for 2024 were $14.9 million, down from $16.4 million in 2023, reflecting cost reduction initiatives[12] - Total operating expenses for the twelve months ended December 31, 2024, were $19,968 million, down from $22,497 million in 2023, a reduction of 11%[23] - Research and development expenses for the twelve months ended December 31, 2024, were $9,232 million, down from $14,398 million in 2023, indicating a 36% reduction[23] Net Loss - GAAP net loss for Q4 2024 was $1.6 million, or ($0.37) per share, an improvement from a net loss of $2.7 million in the prior quarter and $8.9 million a year ago[7][8] - The net loss for Q4 2024 was $1,560 million, a decrease from a net loss of $8,938 million in Q4 2023, representing an 83% improvement[30] - Non-GAAP net loss for Q4 2024 was $536 million, compared to a non-GAAP net loss of $6,098 million in Q4 2023, reflecting a 91% improvement[30] - The company reported a basic and diluted net loss per share of $0.37 for Q4 2024, significantly improved from $12.48 in Q4 2023[30] Cash and Assets - Cash and cash equivalents increased to $3,344 million in 2024 from $1,583 million in 2023, showing a growth of 111%[25] - Total assets decreased to $7,206 million in 2024 from $10,714 million in 2023, a decline of 33%[25] Other Financial Metrics - The change in fair value of warrant liabilities resulted in a gain of $44 million in Q4 2024, compared to a loss of $746 million in Q4 2023[30] - A $3.6 million purchase order for mmWave devices was received, expected to be fulfilled in 2025, indicating renewed demand from leading customers[3]