Peraso Announces Third Quarter 2026 Results

Ron Glibbery, CEO of Peraso

“Our third-quarter results reflected the previously indicated headwinds from irregular order patterns among our customers in the fixed wireless access market. That said, we have begun to see early signs of renewed customer demand in the fourth quarter. Most notably, in October we received a production order exceeding $2 million for a 60 GHz fixed wireless access deployment-representing the largest FWA order received in the last six quarters. In addition, we have continued to make meaningful progress advancing multiple strategic initiatives that will be key to unlocking our future growth. During the quarter, we introduced our PRM2145 jam-resistant communications module, specifically designed for UAV and defense applications. We also showcased our technology at the 11th Annual UAV Technology Conference, and we recently demonstrated high-speed 60 GHz connectivity for applications in humanoid robots. Collectively, these developments further highlight the differentiated advantages of our 60 GHz mmWave platform-particularly its stealthy, anti-jamming, and high-capacity characteristics-in defense, tactical, UAV, and autonomous Edge AI applications. Looking forward, we believe the breadth of our customer engagements, and the growing recognition of 60 GHz technology, positions Peraso to return to revenue growth beginning in the fourth quarter. Additionally, the recently completed private placement with Nant Capital, LLC, which generated gross proceeds of approximately $10 million meaningfully strengthens our financial position and provides working capital to support, among other things, the development and commercialization of our advanced drone communications solutions. With this strengthened financial position, our board of directors has concluded its previously disclosed review of strategic alternatives. Our focus remains on converting a growing number of opportunities into design wins and production orders in support of driving top-line growth.”