Peraso Q1 revenue falls 74% on delayed customer order

Peraso

11/05/2026 21:35

Overview

US mmWave wireless tech firm's Q1 revenue fell sharply yr/yr on delayed customer order

Gross margin rose sequentially but declined from a year ago

Company reported wider net loss as product shipments and revenue fell

Outlook

Company says it is focused on securing new purchase orders and design wins for future growth

Peraso notes irregular order patterns and near-term challenges in the fixed wireless access market

Company sees expanding opportunities for 60 GHz mmWave technology in new and existing markets

Result Drivers

SUPPLY CHAIN DELAYS - Co said Q1 revenue was impacted by a delayed customer order due to late receipt of key materials from a supplier

IRREGULAR CUSTOMER ORDERS - Co cited irregular order patterns from fixed wireless access customers and new customers not yet establishing observable order patterns

REVENUE MIX SHIFT - Sequential increase in gross margin was attributed to a higher mix of revenue from non-recurring engineering projects

Company press release: ID:nACSJ5FSva

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1 mln
$975,000 (1 Analyst)
Q1 Adjusted Net Income
Beat
-$2.30 mln
-$2.33 mln (1 Analyst)
Q1 Net Income
-$2.50 mln
Q1 Adjusted EBITDA
Miss
-$2.30 mln
-$2.26 mln (1 Analyst)
Q1 Gross Margin
61.50%


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductors peer group is "buy."

Wall Street's median 12-month price target for Peraso Inc is $2.70, about 172.3% above its May 8 closing price of $0.99

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)