Peraso (PRSO) Second Annual Centri Capital Conference summary

Market leadership and technology

• Leads in 60 GHz millimeter wave wireless chips, with over 2 million units sold and 60+ patents issued or pending.

• Beamforming technology enables stealth, anti-jamming, and high-density, high-speed networks.

• Dominant in fixed wireless access, now expanding into tactical military communications and high-bandwidth AI applications.

• Technology is favored for its low probability of detection and high data rates, especially in military and urban environments.

• High barriers to entry due to technical complexity and established market presence.

Key markets and applications

• Fixed wireless access remains the anchor market, with expansion into dense urban areas and international markets like Los Angeles, South Africa, and Kenya.

• Tactical communications for military use, including drone control and Identification Friend or Foe (IFF) systems, are gaining traction, with production underway and sales to the IDF.

• Edge AI and robotics, including robotaxis and video delivery, represent emerging growth areas requiring high data rates and low latency.

• Currently shipping to about 30 customers with nearly 60 products in the market.

Financial performance and outlook

• Fiscal 2024 revenue was $14.6 million, dropping to $12.2 million in 2025 due to loss of legacy business.

• Q4 revenue was $2.9 million, with over 50% gross margins and quarterly operating expenses of $2.7 million.

• Net losses reduced from $5.1 million in 2024 to $4.3 million in 2025, reflecting expense cuts.

• Targeting 30%-50% growth and aiming for cash flow positivity by early 2027.

• Cash needs are managed through an ATM facility, avoiding large financings.