10-Q · May 14, 2026
Peraso Inc. reported Q1 2026 results with revenues falling to $963,000, down 23.33% from estimates and a significant 82% year-over-year decline. Gross margin saw a decrease but improved slightly to 61%, while dilutive…
Earnings analysis · 10-Q
PRSO earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Peraso's Q2 revenue improved approximately 36% sequentially to $1.307 million and gross margin rose to 63.7%, while EPS improved year over year to $(0.15). Nonetheless, revenue missed consensus by 50.3%, and management…
Read full summary
Peraso's Q2 revenue improved approximately 36% sequentially to $1.307 million and gross margin rose to 63.7%, while EPS improved year over year to $(0.15). Nonetheless, revenue missed consensus by 50.3%, and management continues to expect supply constraints, elevated memory prices, and irregular order patterns into Q4. The filing highlights substantial liquidity risk, with $3.3 million of cash, an accumulated deficit of $186.6 million, expected capital needs only covered into Q4 2026, and a Nasdaq bid-price deficiency requiring remediation by January 19, 2027.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.15
- Gross margin
- 63.7%
What stood out
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Revenue improved sequentially but missed estimates
Revenue increased to $1.307 million from $963,000 in Q1 2026, a sequential increase of approximately 36%. However, revenue declined from approximately $2.0 million in Q2 2025 and was 50.3% below the $2.63 million consensus estimate.
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Gross margin expanded
Gross margin expanded to 63.7% from 61.5% in Q1 2026 and 48.3% in Q2 2025, representing increases of 2.2 and 15.4 percentage points, respectively.
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Loss per share narrowed year over year
Reported EPS was $(0.15), improving from $(0.22) in Q1 2026 and $(0.31) in Q2 2025, but it missed the $(0.12) consensus estimate.
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Liquidity expected to extend into Q4
The company reported cash and cash equivalents of $3.3 million as of June 30, 2026, and stated that existing cash and expected product-sale receipts should support capital needs into the fourth quarter of 2026.
What to watch
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Going-concern and funding risk
The company reported an accumulated deficit of $186.6 million as of June 30, 2026 and net losses of approximately $4.7 million for the six months ended June 30, 2026. Management stated that additional capital will likely be required to sustain operations.
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Potential substantial equity dilution
The June 30, 2026 Purchase Agreement with Roth Principal Investments permits purchases of up to $25.0 million of common stock over a 36-month period. The agreement's 19.99% Exchange Cap could be removed through stockholder approval or if the average purchase price reaches $0.9853, potentially increasing dilution.
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Nasdaq minimum bid-price deficiency
On July 21, 2026, Nasdaq notified the company that its stock had failed the $1 minimum bid-price requirement based on 30 consecutive business days through July 20, 2026. The company has until January 19, 2027 to regain compliance, requiring a closing bid price of at least $1 for 10 consecutive business days.
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Supply and order volatility persists
Management expects irregular order patterns, inflated memory prices, and constrained component supply to persist into the fourth quarter, creating continued risk to revenue timing and gross margin.
Management's outlook
No numerical revenue or EPS guidance was provided. Management expects irregular order patterns, inflated memory prices, and constrained component supply to continue into the fourth quarter. Management stated that cash and expected product-sale receipts are expected to support capital needs into the fourth quarter of 2026.
Earlier filings 4
10-K · March 30, 2026
Peraso positions itself as a fabless semiconductor leader in mmWave (24–71 GHz) ICs and integrated antenna modules, emphasizing license‑free 60 GHz (802.11ad/ay) FWA and adjacent 5G mmWave opportunity. The company…
10-Q · November 12, 2025
Peraso reported Q3 net revenue of $3,234,000 and gross profit of $1,817,000 (gross margin ~56.2%). Operating expenses were reduced: R&D $1,528,000 and SG&A $1,479,000, producing a smaller operating loss of $(1,190,000)…
10-K · March 28, 2025
Peraso (PRSO) positions itself as a fabless mmWave semiconductor and module supplier targeting unlicensed 60 GHz FWA, 5G mmWave adjacent markets, defense and VR/AR applications. Revenue appears to have modestly improved…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.