Peraso Inc. reported a net revenue of $11.8 million for the fiscal year ending December 31, 2025, a decrease of 17% from $14.2 million in 2024. The decline was primarily attributed to a significant reduction in shipments of memory integrated circuits (ICs), which fell from $12.9 million in 2024 to $2.7 million in 2025, as the company phased out this product line. In contrast, revenue from mmWave ICs and antenna modules increased, contributing to a more favorable product mix. The company incurred a net loss of approximately $4.8 million in 2025, compared to a loss of $10.7 million in the previous year, resulting in an accumulated deficit of $181.9 million.
The company underwent a strategic shift in 2023, initiating an end-of-life process for its memory IC products due to the discontinuation of the foundry process by its sole manufacturer, Taiwan Semiconductor Manufacturing Corporation (TSMC). This decision has led to a substantial decrease in revenue from memory products, which previously constituted a significant portion of the company's income. Peraso has since focused on expanding its mmWave technology offerings, which are expected to drive future revenue growth. The company anticipates increased orders from existing customers and the onboarding of new clients in 2026.
Operationally, Peraso's headcount stood at 42 employees as of December 31, 2025, with a focus on research and development, which accounted for 51% of total revenue. The company has implemented cost-cutting measures, including workforce reductions, to manage cash burn and prioritize high-return projects. Additionally, Peraso has engaged in a strategic review process, including discussions with Mobix Labs regarding a potential acquisition, which may impact future operations and financial stability.
Looking ahead, Peraso's management has expressed concerns about its ability to continue as a going concern, given the need for substantial revenue growth to achieve sustainable profitability. The company has indicated that it will require additional capital to support its operations and product development efforts. As of December 31, 2025, Peraso had cash and cash equivalents of $2.9 million, which it expects will be sufficient to meet its capital needs into the third quarter of 2026. However, the company acknowledges that ongoing operating losses and cash burn raise significant doubts about its financial viability without further capital infusion.
About Peraso Inc.
Peraso Inc. is a fabless semiconductor company specializing in millimeter-wave (mmWave) wireless technology and antenna modules for high-speed communications. Its core offerings include mmWave ICs and integrated antenna modules supporting unlicensed and licensed spectrum applications such as FWA, military, VR, and high-capacity networks. Serving OEMs, service providers, and defense contractors globally, the company leverages proprietary beamforming and phased-array tech to enable multi-gigabit, low-latency wireless solutions.
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