Peraso
PRSONASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $0.35 Prior regular-session close from the quote source.
- $0.36–$0.39 Regular-session low and high so far today.
- 266.2K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $0.32–$2.16 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own PRSO if proprietary chips, antenna modules, and NRE/IP work translate into repeat production volumes before cash burn forces painful dilution.
PRSO price history
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Investment thesis
What must happen next
Peraso’s proprietary mmWave chips and antenna modules must convert specialized wireless design-ins into repeat production orders rather than remaining a small, lumpy engineering business.WeakeningMateriality: High
GAAP annual revenue remained meaningful for a microcap fabless company at $12.193 million in FY2025. If this holds, the company gets revenue scale without changing its business model; if it breaks, Peraso remains too small to cover fixed R&D and public-company costs.
Watch: Target OEMs or service providers standardize on sub-6 GHz, fiber, or 5G alternatives instead of 60 GHz/mmWave links.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue remained meaningful for a microcap fabless company at $12.193 million in FY2025.
Open source ↗Peraso’s proprietary silicon, antenna-module integration, and NRE/IP mix should support differentiated pricing and mix, so growth does not have to be bought with collapsing gross margin.StrengtheningMateriality: High
GAAP annual gross profit rose from $1.872 million in FY2023 to $7.533 million in FY2024 and was $7.067 million in FY2025. Margin quality determines whether any revenue ramp creates owner value or merely adds low-margin volume.
Watch: Customers force Peraso to compete primarily on price against larger RF/connectivity suppliers with broader platforms.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit rose from $1.872 million in FY2023 to $7.533 million in FY2024 and was $7.067 million in.
Open source ↗The lean fabless structure should allow incremental design-win revenue to flow through meaningfully once volume arrives, but only if Peraso does not have to rebuild expenses ahead of uncertain demand.HoldingMateriality: Medium
GAAP annual operating loss improved from $32.312 million in FY2022 to $20.625 million in FY2023, $12.435 million in FY2024, and $4.760 million in FY2025. Operating leverage is the bridge from technical relevance to actual profitability; without it, shareholders fund perpetual development losses.
Watch: Peraso must materially increase R&D, applications engineering, or sales support to stay competitive before revenue scales.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating loss improved from $32.312 million in FY2022 to $20.625 million in FY2023, $12.435 million in FY2024, and.
Open source ↗The adoption timetable is the key shareholder risk because Peraso’s cash runway is thin relative to ongoing operating cash burn, making financing terms a potential value-transfer mechanism.StrengtheningMateriality: Medium
Cash was $2.886 million at December 31, 2025. Even if the technology ultimately finds demand, existing owners can lose if the company must finance repeatedly before the ramp arrives.
Watch: A large customer prepayment, non-dilutive strategic investment, or licensing deal extends runway before another equity raise is needed.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash was $2.886 million at December 31, 2025.
Open source ↗
Full investment case & evidence
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Original research
Peraso’s proprietary mmWave chips and antenna modules must convert specialized wireless design-ins into repeat production orders rather than remaining a small, lumpy engineering business. If this holds, the company gets revenue scale without changing its business model; if it breaks, Peraso remains too small to cover fixed R&D and public-company costs.
Peraso’s proprietary silicon, antenna-module integration, and NRE/IP mix should support differentiated pricing and mix, so growth does not have to be bought with collapsing gross margin. Margin quality determines whether any revenue ramp creates owner value or merely adds low-margin volume.
The lean fabless structure should allow incremental design-win revenue to flow through meaningfully once volume arrives, but only if Peraso does not have to rebuild expenses ahead of uncertain demand. Operating leverage is the bridge from technical relevance to actual profitability; without it, shareholders fund perpetual development losses.
The adoption timetable is the key shareholder risk because Peraso’s cash runway is thin relative to ongoing operating cash burn, making financing terms a potential value-transfer mechanism. Even if the technology ultimately finds demand, existing owners can lose if the company must finance repeatedly before the ramp arrives.
All standing thesis claims
Original report summary
proprietary chips, antenna modules, and NRE/IP work translate into repeat production volumes before cash burn forces painful dilution.
Bull case and bear case
Bull case and bear case for Peraso
Where the evidence on Peraso disagrees: Mixed on the latest evidence (Oct 15, 2026). Of its 4 thesis points, 2 strengthening, 1 holding and 1 weakening.
Bull case: what the evidence supports
Peraso’s proprietary silicon, antenna-module integration, and NRE/IP mix should support differentiated pricing and mix, so growth does not have to be bought with collapsing gross margin.
The lean fabless structure should allow incremental design-win revenue to flow through meaningfully once volume arrives, but only if Peraso does not have to rebuild expenses ahead of uncertain demand.
The adoption timetable is the key shareholder risk because Peraso’s cash runway is thin relative to ongoing operating cash burn, making financing terms a potential value-transfer mechanism.
Bear case: what the evidence questions
Peraso’s proprietary mmWave chips and antenna modules must convert specialized wireless design-ins into repeat production orders rather than remaining a small, lumpy engineering business.
Thesis-Break Engine
What has broken in Peraso’s thesis
Each break OptimistFi flagged on Peraso, dated — with what has historically followed the same kind of break across the market, not a forecast for Peraso.
- CEO / officer changecondition set before this filing
Across all companies, this kind of break has happened 16,849 times before. Those stocks trailed comparable companies by a median of 2% over the next six months, and 38% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedDirector or principal officer change.
Peraso filed an SEC 8-K on 2026-09-11: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Peraso filed an SEC 8-K on 2026-08-21: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Peraso filed an SEC 8-K on 2026-08-11: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Target OEMs or service providers standardize on sub-6 GHz, fiber, or 5G alternatives instead of 60 GHz/mmWave links.
- Customers force Peraso to compete primarily on price against larger RF/connectivity suppliers with broader platforms.
- Peraso must materially increase R&D, applications engineering, or sales support to stay competitive before revenue scales.
- A large customer prepayment, non-dilutive strategic investment, or licensing deal extends runway before another equity raise is needed.
PRSO news
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Financial statements
PRSO income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
PRSO: quick answers
- When does Peraso (PRSO) report earnings next?
- Peraso's next results were projected for November 9, 2026, from the dates of its own results filings with the SEC, and it has not filed them yet. It last reported on August 11, 2026. Earnings calendar
- What is PRSO's short interest?
- As of October 30, 2026, 1.4M PRSO shares were sold short, up 65.7% from the count before. At the stock's average daily volume that is 1.0 day to cover. FINRA publishes the count twice a month. PRSO short interest history