--- title: "Peraso | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 963 K" type: "News" locale: "en" url: "https://longbridge.com/en/news/286461625.md" datetime: "2026-05-14T20:17:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286461625.md) - [en](https://longbridge.com/en/news/286461625.md) - [zh-HK](https://longbridge.com/zh-HK/news/286461625.md) --- # Peraso | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 963 K Revenue: As of FY2026 Q1, the actual value is USD 963 K, missing the estimate of USD 1.325 M. EPS: As of FY2026 Q1, the actual value is USD -0.22. EBIT: As of FY2026 Q1, the actual value is USD -2.484 M. Peraso Inc. operates as a single reportable segment, focusing on mmWave wireless technology, semiconductor devices, antenna modules, non-recurring engineering (NRE) services, and intellectual property licensing. #### Financial Performance Overview Peraso Inc. reported a net loss of - $2.5 million for the three months ended March 31, 2026, compared to a net loss of - $0.5 million for the same period in 2025. The accumulated deficit as of March 31, 2026, was - $184.4 million. #### Revenue - **Total Net Revenue**: Total net revenue for the three months ended March 31, 2026, was $963 thousand, a decrease of - $2,906 thousand or -75% from $3,869 thousand in the prior-year period. - **Product Revenue**: Product revenue decreased to $667 thousand in Q1 2026 from $3,800 thousand in Q1 2025, a reduction of - $3,133 thousand or -82%. This decline was primarily due to a significant decrease in end-of-life (EOL) memory IC product shipments and reduced shipments of mmWave ICs and antenna modules, with a sizable delayed order shipped subsequent to March 31, 2026. - **Product Revenue by Category (Q1 2026 vs. Q1 2025)**: - Memory ICs: $20 thousand vs. $2,267 thousand. - mmWave ICs: $504 thousand vs. $975 thousand. - mmWave Modules: $111 thousand vs. $558 thousand. - mmWave Other Products: $32 thousand vs. -. - **Services and Other Revenue**: Services and other revenue increased to $296 thousand in Q1 2026 from $69 thousand in Q1 2025, an increase of $227 thousand or 329%, mainly due to increased non-recurring engineering services related to mmWave technology, partially offset by decreased royalties. #### Cost of Net Revenue and Gross Profit - **Cost of Net Revenue**: Cost of net revenue decreased to $371 thousand in Q1 2026 from $1,189 thousand in Q1 2025, a decrease of - $818 thousand or -69%, primarily due to the decrease in product revenue. - **Gross Profit**: Gross profit decreased to $592 thousand in Q1 2026 from $2,680 thousand in Q1 2025, a decrease of - $2,088 thousand or -78%, mainly due to reduced product revenues, partially offset by increased services and other revenues. #### Operating Expenses - **Research and Development (R&D)**: R&D expenses were $1,590 thousand in Q1 2026, consistent with $1,583 thousand in Q1 2025, representing a 0% change. - **Selling, General and Administrative (SG&A)**: SG&A expenses decreased to $1,486 thousand in Q1 2026 from $1,611 thousand in Q1 2025, a decrease of - $125 thousand or -8%, mainly due to lower facilities and stock-based compensation expenses, partially offset by increased consulting and professional services costs. - **Loss from Operations**: The loss from operations increased to - $2,484 thousand in Q1 2026 from - $514 thousand in Q1 2025. #### Cash Flows - **Cash and Cash Equivalents**: As of March 31, 2026, cash and cash equivalents were $2.7 million, compared to $2.886 million as of December 31, 2025. - **Net Cash Used in Operating Activities**: Net cash used in operating activities was - $2,349 thousand for the three months ended March 31, 2026, compared to - $966 thousand for the same period in 2025. - **Net Cash Used in Investing Activities**: Net cash used in investing activities was - $183 thousand for Q1 2026, attributable to the purchase of fixed assets, with no cash used or provided in Q1 2025. - **Net Cash Provided by Financing Activities**: Net cash provided by financing activities was $2,318 thousand for Q1 2026, primarily from $2,304 thousand in net proceeds from at-the-market (ATM) sales of common stock. For Q1 2025, net cash provided was $397 thousand, primarily from $433 thousand in ATM sales, partially offset by lease repayments. #### Liquidity and Outlook As of March 31, 2026, Peraso Inc. had working capital of $4.0 million. Management concluded there is substantial doubt regarding the company’s ability to continue as a going concern for at least 12 months, though existing cash and expected receipts are anticipated to meet capital needs into Q4 2026. #### Strategic Outlook Peraso Inc. is evaluating strategic alternatives, including an unsolicited all-stock acquisition proposal from Mobix Labs, Inc., and plans to file a new prospectus supplement for its ATM offering program. R&D expenses are expected to remain flat for the remainder of 2026 compared to 2025, while SG&A expenses are expected to remain flat or slightly decrease, and memory IC product revenues are projected to be minimal in 2026 due to product end-of-life. ### Related Stocks - [PRSO.US](https://longbridge.com/en/quote/PRSO.US.md) ## Related News & Research - [Peraso Expands At-The-Market Equity Offering Capacity](https://longbridge.com/en/news/286477868.md) - [Peraso Q1 revenue falls 74% on delayed customer order](https://longbridge.com/en/news/285993228.md) - [NVent Electric Board Approves $500 Mln Share Repurchase Program](https://longbridge.com/en/news/286646791.md) - [Lithium Chile Shareholders Vote 96% in Favor of Proposed Sale of Company's Arizaro Project In Salta, Argentina](https://longbridge.com/en/news/286910597.md) - [HPE to Present Live Audio Webcast of Fiscal 2026 Second Quarter Earnings Conference Call | HPE Stock News](https://longbridge.com/en/news/285935495.md)