Peraso Q1 revenue $2.8M (+54% seq), GAAP net loss $2.0M; guides Q2 $3.7-4.0M

Peraso Inc.

2024-Q1 EPS reported -$1.07 revenue$2,816,000

Q1 revenue $2.8M, up 54% sequentially from $1.8M; product revenue $2.7M.
GAAP gross margin 46.4% vs negative 147.3% prior Q (inventory write-down); non-GAAP 66.4%.
GAAP net loss $2.0M ($1.07/share) vs $8.9M ($12.48) prior Q; non-GAAP loss $1.6M ($0.83).
Memory product backlog $12.6M including $2.9M EOL order; expected to generate revenue through Q1 2025.
Q2 2024 revenue guidance $3.7M to $4.0M; CEO cites cost reductions and mmWave customer expansion.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Peraso Inc. reported first quarter ended March 31, 2024 results: revenue $2.8 million, net income $2.0 million, or ($1.07) per share, EPS ($1.07) per share.

Period: first quarter ended March 31, 2024
Revenue: $2.8 million
Net income: $2.0 million, or ($1.07) per share
EPS: ($1.07) per share
Result: reported results

Exact text from the filing

Total net revenue for the first quarter of 2024 was $2.8 million, compared with $1.8 million in the prior quarter and $5.0 million in the same quarter a year ago.

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Source: SEC EDGAR

accession 0001654954-24-006074

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