Peraso (PRSO) Q3 2026 earnings summary

Executive summary

• Q3 results reflected irregular fixed wireless access (FWA) orders and weak shipments; early signs of renewed demand and an October production order point to expected sequential revenue growth in Q4.

• Priorities included cost discipline, supply-chain resilience, and converting customer engagements into design wins and production orders across FWA, defense, UAV, tactical, and autonomous edge AI markets.

Financial highlights

• Q3 revenue was $0.3M, versus $1.3M in Q2 2026 and $3.2M in Q3 2025; product revenue was $0.3M, versus $1.2M and $3.1M, respectively.

• GAAP operating expenses were $2.888M, versus $3.1M in Q2 and $3.007M in Q3 2025; non-GAAP operating expenses were $2.7M, versus $2.9M in both periods.

• GAAP net loss was $2.7M, or $0.18/share, versus $2.2M and $0.16/share in Q2 and $1.2M and $0.17/share in Q3 2025.

• Non-GAAP net loss was $2.5M, or $0.16/share, versus $2.1M and $0.15/share in Q2 and $1.1M and $0.15/share in Q3 2025.

• 9M 2026 revenue was $2.554M versus $9.323M in 9M 2025; GAAP net loss was $7.375M versus $3.510M.

Outlook and guidance

• Management expected sequential revenue growth in Q4 2026, citing early demand recovery and increased recognition of 60 GHz technology.

• An October FWA production order exceeded $2M, was the largest in six quarters, and was expected to ship through mid-2027; timing and fulfillment remain uncertain.

• Priorities include converting opportunities into design wins and production orders, and developing and commercializing advanced drone communications solutions.