Business
Peraso Announces First Quarter 2025 Results
First Quarter Total Revenue Increased 37% Year-over-Year, Driven by Triple-Digit Growth from mmWave Products SAN JOSE, CALIFORNIA / ACCESS Newswire / May 12, 2025 / Peraso Inc. (NASDAQ:PRSO) ("Peraso" or the "Company"), a pioneer in mmWave wireless ...
About this update from Peraso Inc.
[{"type":"text","content":"First Quarter Total Revenue Increased 37% Year-over-Year, Driven by Triple-Digit Growth from mmWave Products","length":108,"tagName":"p"},{"type":"text","content":"SAN JOSE, CALIFORNIA / ACCESS Newswire / May 12, 2025 / Peraso Inc. (NASDAQ:PRSO) ("Peraso" or the "Company"), a pioneer in mmWave wireless technology solutions, today announced financial results for the first quarter ended March 31, 2025.","length":259,"tagName":"p"},{"type":"text","content":"Management Commentary","length":21,"tagName":"p"},{"type":"text","content":""Our first quarter results demonstrated continued progress and year-over-year revenue growth, as we ramped orders for our mmWave products and completed the final end-of-life (EOL) shipments for our memory IC products," stated Ron Glibbery, CEO of Peraso. "As further evidence of our recent momentum, first quarter mmWave revenue exceeded our total mmWave revenue for the full year of 2024. Together with our ongoing efforts to closely manage expenses, we delivered meaningful improvement in our bottom-line results.","length":530,"tagName":"p"},{"type":"text","content":""Since the start of the year, we have achieved a number of notable technology, product and customer milestones. These achievements include a major upgrade to our PERSPECTUS modules for fixed wireless access service (FWA) that increased the number of supported users per access point by 50%. We also expanded our PERSPECTUS product family with the introduction of our newest dual-polarized module designed to overcome challenges in high-mobility deployments, such as body-mounted applications. In addition to driving continued innovation of our FWA solutions, we recently secured a strategic contract with a leading specialized defense contractor to utilize Peraso's 60 GHz wireless technology for a mission critical military application. We expect to commence initial production shipments in support of this new tactical communications win during the second quarter.","length":875,"tagName":"p"},{"type":"text","content":""Looking ahead, we remain focused on expanding our customer base, growing our future order backlog and ramping production shipments to an expanding number of customers. While total revenue for the second quarter will reflect the planned roll-off of EOL shipments for our memory IC products, we...