Peraso Q3 revenue $4.5M (+87% QoQ), net loss narrows; lays off 28% of workforce

Peraso Inc.

2023-Q3 EPS reported -$0.32 revenue$11,916,000

Q3 revenue $4.5M (+87% sequential, +36% YoY); GAAP gross margin 45.4%, non-GAAP 58.0%.
GAAP net loss $0.6M ($0.02 loss per share) vs prior $4.1M loss; non-GAAP net loss $1.1M.
Cash and equivalents $0.7M at Sept 30; company states need to raise additional capital.
Laid off 19 employees (28% of workforce) on Nov 7; estimated severance charges $0.5-1.0M.
Memory IC last-time-buy orders expected $15-20M, serving as cash source through 2024.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Peraso Inc. reported third quarter ended September 30, 2023 results: revenue $4.5 million, net income GAAP net loss for the third quarter of 2023 was $0.6 million, or ($0.02) per share, EPS ($0.02) per share.

Period: third quarter ended September 30, 2023
Revenue: $4.5 million
Net income: GAAP net loss for the third quarter of 2023 was $0.6 million, or ($0.02) per share
EPS: ($0.02) per share
Result: reported results

Exact text from the filing

source of cash as we fulfill shipments against existing backlog throughout 2024.” Third Quarter 2023 Financial Results Total net revenue for the third quarter of 2023 was $4.5 million, compared with $2.4 million in the prior quarter and $3.3 million in the same quarter a year ago. Product revenue for the third quarter of 2023 was $4.3 million, compared with

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Source: SEC EDGAR

accession 0001654954-23-014158

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