Q1 2026 Peraso Inc Earnings Call Transcript
Key Points
- Peraso Inc (PRSO) maintained active customer engagement across all target end markets, advancing new opportunities for its 60 gigahertz technology.
- The company secured a notable new customer win with MikroTik, which launched a next-generation product incorporating Peraso technology.
- Peraso's fully integrated Dune platform continues to resonate with operators pursuing high-performance, cost-effective wireless deployments.
- The company achieved a milestone with Intacct as a defense contractor customer, expanding its presence in tactical communications.
- Peraso is actively engaged in prospective growth opportunities in edge AI applications, such as last mile delivery and autonomous vehicles.
- Revenue was negatively impacted by the delay of a sizable order due to material availability from an Asia-based supplier.
- Total net revenue for the first quarter of 2026 was $1 million, a significant decrease from $2.9 million in the prior quarter.
- The company faces subdued near-term demand and purchase order activity due to market dynamics, including memory chip shortages.
- GAAP net loss for the first quarter of 2026 was $2.5 million, compared to a net loss of $1.2 million in the prior quarter.
- Peraso's visibility into future near-term demand is lower due to irregular customer order patterns and memory device pricing issues.
Good afternoon, and welcome to Peraso Inc.'s first-quarter 2026 conference call. (Operator Instructions) As a reminder, this conference call is being recorded today, Monday, May 11, 2026.
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 first quarter 2026 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 accessed through the webcast link on the Investor Relations
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