Peraso Inc. (NASDAQ:PRSO) Q1 2024 Earnings Call Transcript May 13, 2024 5:00 PM ET Company Participants Jim Sullivan - CFO Ron Glibbery - CEO Conference Call Participants David Williams - Benchmark Kevin Liu - K. Liu & Company Jon Hickman - Ladenburg Operator Good afternoon and welcome to Peraso Inc.'s first 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, Monday, May 13th, 2024. I wou ...

Peraso (PRSO) came out with a quarterly loss of $0.83 per share versus the Zacks Consensus Estimate of a loss of $1.26. This compares to loss of $3.60 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 34.13%. A quarter ago, it was expected that this semiconductor technology company would post a loss of $3.41 per share when it actually produced a loss of $8.52, delivering a surprise of -149.85%. Over the last four quarters, the ...

EX-99.1 2 prso_ex991.htm PRESS RELEASE BY PERASO INC EXHIBIT 99.1 Peraso Announces First Quarter 2024 Results Total Revenue Increased 54% Sequentially; GAAP Gross Margin Expanded to 46.4%, Non-GAAP to 66.4% SAN JOSE, Calif., May 13, 2024 – Peraso Inc. (NASDAQ:PRSO) ("Peraso" or the "Company"), a global leader in mmWave technology for 60 GHz unlicensed and 5G licensed networks, today announced financial results for the first quarter ended March 31, 2024. Management Commentary "First quarter revenue increased ...

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, 2023 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 Inc. (NASDAQ:PRSO) Q4 2023 Earnings Conference Call March 18, 2024 5:00 PM ET Company Participants James Sullivan - CFO Ronald Glibbery - CEO Conference Call Participants David Williams - Benchmark Kevin Liu - K. Liu & Company Operator Good afternoon, and welcome to Peraso, Inc.'s Fourth Quarter 2023 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, Monday, March 18, 2024. I would now like to ...

Revenue Performance - Total net revenue for Q4 2023 was $1.8 million, a decrease of 60% from $4.5 million in the prior quarter and 54% from $3.9 million year-over-year[4]. - Product revenue for Q4 2023 was $1.5 million, down 65% from $4.3 million in the prior quarter and 61% from $3.8 million in the same quarter last year[4]. - Total net revenue for the full year 2023 was $13.7 million, down from $14.9 million in 2022, with product revenue decreasing to $12.9 million from $14.2 million[11]. - The company expects total net revenue for Q1 2024 to be in the range of $2.6 million to $2.9 million[15]. - Total net revenue for Q4 2023 was $1,832 million, a decrease of 53.0% compared to $3,887 million in Q4 2022[24]. Profitability and Loss - GAAP gross margin for Q4 2023 was negative 147.3%, compared to 45.4% in the prior quarter and 44.2% in the same quarter last year, primarily due to a $3.0 million inventory write-down[5]. - Non-GAAP net loss for Q4 2023 was $6.1 million, or ($8.52) per share, compared to a net loss of $1.1 million, or ($1.56) per share, in the prior quarter[8]. - GAAP gross margin for 2023 was 13.6%, a significant decline from 40.1% in 2022, attributed to the inventory write-down in Q4 2023[12]. - The net loss for Q4 2023 was $8,938 million, compared to a net loss of $14,593 million in Q4 2022, representing a 38.1% improvement[24]. - Non-GAAP net loss for Q4 2023 was $6,098 million, compared to a non-GAAP net loss of $2,775 million in Q4 2022[28]. Expenses - Total operating expenses on a GAAP basis for 2023 were $22.5 million, down from $38.3 million in 2022[13]. - Research and development expenses for Q4 2023 were $3,359 million, down from $4,130 million in Q4 2022, a decrease of 18.7%[24]. - Total operating expenses for Q4 2023 were $5,533 million, down from $16,248 million in Q4 2022, a decrease of 66.0%[24]. Cash and Assets - Cash, cash equivalents, and investments decreased to $1,583 million in Q4 2023 from $2,906 million in Q4 2022, a decline of 45.5%[26]. - Total assets decreased to $10,714 million in Q4 2023 from $22,486 million in Q4 2022, a reduction of 52.4%[26]. - Total liabilities decreased to $6,631 million in Q4 2023 from $7,229 million in Q4 2022, a decrease of 8.3%[26]. Order Backlog and Financing - The company has a remaining total order backlog of over $12 million for memory IC products, indicating potential revenue growth[2]. - The company completed a public offering resulting in net proceeds of approximately $3.4 million to strengthen its cash position[10].

Peraso Inc. (NASDAQ:PRSO) Q3 2023 Earnings Call Transcript November 13, 2023 5:00 PM ET Company Participants Jim Sullivan - CFO Ron Glibbery - CEO Conference Call Participants Kevin Liu - K. Liu & Company David Williams - Benchmark Operator Good afternoon and welcome to Peraso Inc.'s Third Quarter 2023 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, Monday, November 13, 2023. I would now like to t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 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 September 30, 2023 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 PERASO INC. (Exact name of registrant as specified in its charter) | Delaware | 77-0291941 | | --- | --- | | (State or o ...

Peraso Inc. (NASDAQ:PRSO) Q2 2023 Earnings Conference Call August 14, 2023 5:00 PM ET Company Participants Jim Sullivan – Chief Financial Officer Ron Glibbery – Chief Executive Officer Conference Call Participants Kevin Liu – K. Liu & Company David Williams – Benchmark Operator Good afternoon, and welcome to Peraso Inc.'s Second Quarter 2023 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, Monday, ...

UNLEASH THE POWER OF mmWAVE SECOND QUARTER 2023 EARNINGS CONFERENCE CALL This presentation is for information purposes only. Certain information contained herein has been derived from sources prepared by third parties. While such information is believed to be reliable for the purposes used herein, we makes no representation or warrant with respect to the accuracy of such information. Trademarks and trade names referred to in this presentation are the property of their respective owners. We do not intend our ...