Peraso posts Q3 2024 revenue of $3.8M, GAAP net loss $2.7M; guides Q4 at $3.6-$4.0M

Peraso Inc.

2024-Q3 EPS reported -$3.62 revenue$10,895,000

Revenue $3.8M, down 16% YoY from $4.5M; product revenue $3.8M.
GAAP net loss $2.7M ($0.98/sh) vs $0.6M ($0.87/sh) loss in Q3 2023; non-GAAP net loss $0.9M ($0.34/sh).
Operating expenses down ~20% YoY to $4.5M GAAP; cost reduction initiatives cited.
Backlog of memory IC products $5.7M; expects fulfillment over next two quarters.
Recent warrant exercise raised ~$2.9M gross proceeds at reduced exercise price of $1.30/share.

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