Peraso (PRSO) Investor Summit Virtual Conference summary

Market positioning and technology

• Focuses on 60 GHz millimeter wave wireless technology, holding over 90% market share in Fixed Wireless Access and leading in beamforming for dense environments.

• Technology enables secure, stealthy communications, especially valuable in military and drone applications due to resistance to detection and jamming.

• Expanding into Edge AI markets, supporting high-speed data transfer for applications like robotaxis and factory automation.

• Holds a robust patent portfolio and has shipped over 2.5 million chips globally.

• DUNE product targets dense urban networking, broadening addressable markets beyond rural deployments.

Financial performance and outlook

• Revenue shifted from $14.5M in 2024 (90% legacy memory) to $12.2M in 2025 (80% millimeter wave), reflecting strategic focus shift.

• Gross margins for millimeter wave products targeted at 50%+, with Q4 2025 at 52%.

• Operating loss reduction achieved through cost controls; break-even requires $6M quarterly revenue at 50% margin.

• Cash position at $2.9M as of December 31, with no debt and fully diluted shares at 19M.

• 2026 revenue estimates range from $12.7M to $15M, targeting 50% growth, with meaningful growth expected in 2026 over 2025.

Strategic initiatives and growth drivers

• Military and drone tactical communications identified as key growth areas, with friendly fire avoidance (IFF) technology gaining traction.

• Edge AI and robotaxi applications expected to contribute to revenue as early as Q4 2026 or Q1 2027.

• Fixed Wireless Access remains a cash-generating business, with minimal R&D investment and ongoing customer growth.

• Supply chain issues with Asian vendors in Q1 resolved; a second supplier added for risk mitigation.

• Initial revenue from new applications expected through non-recurring engineering and licensing, offsetting R&D expenses.