With only $2.7M cash and a $13M market cap, Peraso faces acute liquidity risk. The ATM offering expansion signals ongoing dilution. Monitor for further capital raises, potential Nasdaq delisting risk, or a strategic transaction. The supplier issue and irregular customer patterns suggest no near-term revenue inflection.
Price Chart
Executive Summary
Peraso reported Q1 2026 revenue of $1.0M, down 74% YoY from $3.9M, and a GAAP net loss of $2.5M ($-0.22/share) vs a loss of $0.5M ($-0.08/share) a year ago. The sharp revenue decline was driven by lower shipments of memory IC and mmWave products, partially due to a supplier delay. The company also faces ongoing cash burn with only $2.7M in cash and a $13M market cap, raising going-concern risk.
Key Financial Metrics
Key Facts
- Q1 2026 total net revenue was $1.0M, down 74% YoY from $3.9M and down 65% sequentially from $2.9M.
- GAAP net loss widened to $2.5M ($-0.22/share) from $0.5M ($-0.08/share) in Q1 2025.
- Adjusted EBITDA was negative $2.3M vs negative $0.3M in the year-ago quarter.
- Cash and cash equivalents fell to $2.7M from $2.9M at Dec 31, 2025, with total assets of $6.4M.
- The company previously pre-announced on April 10, 2026 that Q1 revenue would be $0.9M-$1.0M, down from an initial $1.2M expectation.
- An ATM offering was increased on April 10, 2026 to up to $2.125M in new shares, with ~$7.2M already sold under the program.
- CEO cited a supplier delay and irregular order patterns from fixed wireless access customers as key headwinds.
Financial Impact
Revenue declined ~$2.9M YoY; net loss worsened by ~$2.0M; cash burn of ~$2.3M adjusted EBITDA in the quarter.
Risk Factors
- Going concern risk — cash burn rate exceeds cash on hand.
- Further dilution from ATM offering and potential need for additional capital.
- Nasdaq continued listing standards risk given low market cap and stock price.
- Customer concentration and irregular order patterns create revenue unpredictability.
- Supplier dependency and supply chain disruptions.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001654954-26-004670 |
| Document: prso_8k.htm | 0001654954-26-004670 |
| Document: 0001654954-26-004670-index-headers.html | 0001654954-26-004670 |
| Document: 0001654954-26-004670-index.html | 0001654954-26-004670 |
| Document: 0001654954-26-004670.txt | 0001654954-26-004670 |
| 8-K Data (Synthetic) | 0001654954-26-004670 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | $0.3465 | awaiting T+60 | — | $0.4100 (−18.33%) |
Aug 21, 2026 9w ago | 8-K | $0.6700 | awaiting T+60 | — | $0.4100 (−38.81%) |
Jul 29, 2026 12w ago | 8-K | $0.6430 $0.3784 | ▼ −41.15% | ▼ −43.62% | $0.4100 (−36.24%) |
Jul 24, 2026 13w ago | 8-K | $0.6930 $0.3837 | ▲ +44.63% | ▲ +48.34% | $0.4100 (+40.84%) |
Jul 2, 2026 16w ago | 8-K | $0.8151 $0.4947 | ▲ +39.31% | ▲ +42.88% | $0.4100 (+49.70%) |
May 14, 2026 23w ago | 424B5 | $0.9800 $0.7171 | ▲ +26.83% | ▲ +31.34% | $0.4100 (+58.16%) |
May 11, 2026 24w ago | 8-K | $1.04 $0.7150 | ▲ +31.25% | ▲ +35.63% | $0.4100 (+60.58%) |
Apr 14, 2026 27w ago | 8-K | $0.9200 $0.8223 | ▼ −10.62% | ▼ −19.14% | $0.4100 (−55.43%) |
Apr 10, 2026 28w ago | 8-K | $0.9400 $0.8000 | ▲ +14.89% | ▲ +23.82% | $0.4100 (+56.38%) |
Apr 10, 2026 28w ago | 424B5 | $0.9400 $0.8000 | ▲ +14.89% | ▲ +23.82% | $0.4100 (+56.38%) |
US Market Status
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