Peraso Inc. Q4 2025 Earnings Call Summary

Core Insights - Millimeter wave product revenue experienced a significant growth, increasing approximately six-fold in 2025, primarily due to the commercial ramp of 60GHz solutions in fixed wireless access (FWA) and new design wins [1] - The management successfully transitioned tactical communications from an emerging adjacent opportunity to a definitive high-growth market vertical following successful field trials [1] - The FWA market saw a broad recovery in demand, particularly for the Dune platform and 60GHz modules in dense urban environments across North America and Africa [1] - Strategic expansion into Edge AI is highlighted by a collaboration for robotaxi fleet data offloading, addressing bandwidth bottlenecks that traditional Wi-Fi and 5G cannot resolve [1] - The company maintained a disciplined approach to expense management, significantly reducing GAAP operating expenses from $20.0 million in 2024 to $11.8 million in 2025 [1] - A transition in the product mix occurred as legacy memory IC products reached end-of-life, being replaced by higher-growth millimeter wave technology as the core revenue driver [1]