Revenue: As of FY2026 Q2, the actual value is USD 1.307 M, missing the estimate of USD 2.975 M.

EPS: As of FY2026 Q2, the actual value is USD -0.16, missing the estimate of USD -0.1.

EBIT: As of FY2026 Q2, the actual value is USD -2.236 M.

Peraso Inc. Second Quarter 2026 Financial Results

Revenue

Total net revenue for the second quarter of 2026 was $1.3 million, compared to $1.0 million in the prior quarter and $2.2 million in the same quarter a year ago . Product revenue for the second quarter of 2026 was $1.2 million, up from $0.7 million in the prior quarter, but down from $2.2 million in the same quarter a year ago . The sequential increase in product revenue was attributed to higher shipments of mmWave products . Services and other revenue was $63 thousand for the second quarter of 2026, compared to $2 thousand in the second quarter of 2025 .

Gross Margin

Gross margin for the second quarter of 2026 was 63.7%, an increase from 61.5% in the prior quarter and 48.3% in the same quarter a year ago . The year-over-year increase was primarily due to an increase in non-recurring engineering services revenue and mmWave product mix, along with increased sales of inventory previously written down, partially offset by a decrease in sales of memory and related products . Gross profit was $833 thousand in the second quarter of 2026, compared to $1,073 thousand in the second quarter of 2025 .

Operating Expenses

Total GAAP operating expenses for the second quarter of 2026 were $3.1 million, consistent with the prior quarter, and compared to $2.9 million in the same quarter a year ago . Non-GAAP operating expenses, excluding stock-based compensation, were $2.9 million, consistent with the prior quarter, and compared to $2.7 million in the same quarter a year ago . Research and development expenses were $1,625 thousand in Q2 2026, down from $1,662 thousand in Q2 2025 . Selling, general and administrative expenses were $1,444 thousand in Q2 2026, up from $1,411 thousand in Q2 2025 . Software license obligations were $0 in Q2 2026, compared to - $223 thousand in Q2 2025 .

Net Loss

GAAP net loss for the second quarter of 2026 was - $2.2 million, or - $0.16 per share, compared to a net loss of - $2.5 million, or - $0.22 per share, in the prior quarter, and a net loss of - $1.8 million, or - $0.31 per share, in the second quarter of 2025 . Non-GAAP net loss for the second quarter of 2026 was - $2.1 million, or - $0.15 per share, compared to a net loss of - $2.3 million, or - $0.20 per share, in the prior quarter and a net loss of - $1.7 million, or - $0.28 per share, in the second quarter of 2025 .

Adjusted EBITDA

Adjusted EBITDA for the second quarter of 2026 was - $2.0 million, compared to - $2.3 million in the prior quarter and - $1.6 million in the same quarter last year .

Balance Sheet Highlights

As of June 30, 2026, cash and cash equivalents were $3,322 thousand, up from $2,886 thousand as of December 31, 2025 . Accounts receivable, net, decreased to $306 thousand from $1,219 thousand over the same period . Inventories increased to $1,708 thousand from $1,168 thousand . Total current assets were $5,743 thousand as of June 30, 2026, compared to $5,468 thousand as of December 31, 2025 . Total liabilities increased to $1,861 thousand from $1,443 thousand, and stockholders’ equity rose to $4,925 thousand from $4,636 thousand .

Outlook / Guidance

Peraso Inc. anticipates market dynamics, including irregular order patterns, inflated memory prices, and constrained supply of key components, to persist into the fourth quarter . The company maintains optimism regarding its 60 GHz mmWave technology and is prioritizing improved supply chain resilience and securing new distribution partners . Management’s primary goal is to drive commercial traction and secure new design wins and customers to support future top-line growth .