Peraso, Inc. ( (PRSO) ) has released its Q3 earnings. Here is a breakdown of the information Peraso, Inc. presented to its investors.
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Peraso Inc., a leader in mmWave wireless technology, offers innovative solutions for fixed wireless access, immersive video, and factory automation, focusing on high-performance 60 GHz and 5G technologies.
In the third quarter of 2024, Peraso reported a revenue of $3.8 million, demonstrating a strategic focus on cost reductions and efficiency improvements. The company highlighted advancements in customer engagements and received significant orders from international wireless Internet service providers.
Key financial metrics show a decrease in net revenue compared to the previous quarter and the same quarter last year, attributed to reduced shipments of mmWave IC products. However, operating expenses saw a notable decrease, contributing to improved operating performance. The company’s non-GAAP net loss also improved compared to previous quarters, driven by cost containment efforts.
Looking ahead, Peraso aims to capitalize on a growing pipeline of opportunities for its mmWave solutions, anticipating revenue growth in the latter half of 2024. The company’s management remains optimistic about its strategic positioning in the tactical communication and dense urban environment markets.
