Q2 2025 Peraso Inc Earnings Call Transcript
Key Points
- Revenue from mmWave products increased 45% sequentially and over 200% year-over-year, indicating strong market demand.
- Peraso Inc (PRSO) surpassed 2 million cumulative shipments of mmWave devices, highlighting market leadership.
- The company achieved a significant milestone with Tachyon Networks selecting its mmWave modules for a new fixed wireless solution.
- Peraso Inc (PRSO) is expanding into tactical communications and military defense applications, with initial production shipments already delivered.
- The company has doubled its number of customers in production from 7 to 14 over 18 months, showing successful customer acquisition and engagement.
- Total net revenue for the second quarter was $2.2 million, down from $3.9 million in the prior quarter and $4.2 million in the same quarter last year.
- GAAP gross margin decreased to 48.3% from 69.3% in the prior quarter, primarily due to revenue being comprised entirely of mmWave products.
- The company reported a GAAP net loss of $1.8 million for the second quarter, compared to a net loss of $0.5 million in the prior quarter.
- Peraso Inc (PRSO) has a constrained balance sheet with cash and equivalents of only $1.8 million as of June 30, 2025.
- The company is exploring strategic alternatives, including potential mergers or sales, indicating financial instability or strategic challenges.
Good afternoon and welcome to Peraso Inc.'s second-quarter 2025 conference call. (Operator Instructions) As a reminder, this conference call is being recorded today, Monday, August 11, 2025. I would now like to turn the call over to your host for today's conference call, Mr. Jim Sullivan. Please go ahead.
Good afternoon and thank you for joining today's conference call to discuss Peraso's second-quarter 2025 financial results. I'm Jim Sullivan, CFO of Peraso, and joining me today is Ron Glibbery, our CEO.
Today, after the market closed, we issued a press release and related Form 8-K, which was filed with the Securities and Exchange Commission. The press release and Form 8-K are available on Peraso's website at www.perasoinc.com under the Investor Relations section. There is also a slide presentation that we will be using in conjunction with today's call that may be access to the webcast link on the IR website.
As a reminder,
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