Revenue: As of FY2026 Q1, the actual value is USD 963 K, missing the estimate of USD 1.325 M.EPS: As of FY2026 Q1, the actual value is USD -0.22.EBIT: As of FY2026 Q1, the actual value is USD -2.484 M.<h4>Revenue</h4><ul><li>Total Net Revenue: Peraso Inc. reported total net revenue of $963 thousand for the first quarter of 2026, which is a decrease from $2.9 million in the prior quarter and $3,869 thousand in the same quarter a year ago .</li><li>Product Revenue: Product revenue for Q1 2026 was $667 thousand, down from $2.8 million in the prior quarter and $3,800 thousand in Q1 2025, primarily due to lower shipments of both memory IC and mmWave products .</li><li>Services and Other Revenue: Services and other revenue for Q1 2026 was $296 thousand, compared to $69 thousand in Q1 2025 .</li></ul><h4>Gross Margin and Profit</h4><ul><li>Gross Margin: The gross margin for Q1 2026 was 61.5%, an increase from 52.2% in the prior quarter but a decrease from 69.3% in Q1 2025 . The sequential increase was attributed to a higher mix of revenue from non-recurring engineering projects, while the year-over-year decrease reflected lower sales of legacy memory ICs .</li><li>Gross Profit: Gross profit for Q1 2026 was $592 thousand, significantly lower than $2,680 thousand in Q1 2025 .</li></ul><h4>Operating Expenses</h4><ul><li>GAAP Total Operating Expenses: Total GAAP operating expenses for Q1 2026 were $3,076 thousand, compared to $2.8 million in the prior quarter and $3,194 thousand in Q1 2025 .</li><li>Non-GAAP Total Operating Expenses: Non-GAAP operating expenses for Q1 2026, excluding stock-based compensation, were $2.9 million, compared to $2.7 million in the prior quarter and $3.1 million in Q1 2025 .</li></ul><h4>Net Loss</h4><ul><li>GAAP Net Loss: Peraso Inc. reported a GAAP net loss of -$2,497 thousand, or -$0.22 per share, for Q1 2026, compared to a net loss of -$1.2 million, or -$0.13 per share, in the prior quarter and -$471 thousand, or -$0.08 per share, in Q1 2025 .</li><li>Non-GAAP Net Loss: Non-GAAP net loss for Q1 2026 was -$2,341 thousand, or -$0.20 per share, compared to -$1.2 million, or -$0.13 per share, in the prior quarter and -$381 thousand, or -$0.07 per share, in Q1 2025 .</li></ul><h4>Adjusted EBITDA</h4><ul><li>Adjusted EBITDA: Adjusted EBITDA for Q1 2026 was -$2,291 thousand, compared to -$1.1 million in the prior quarter and -$313 thousand in Q1 2025 . Adjusted EBITDA is defined as GAAP net income (loss), excluding stock-based compensation, changes in fair value of warrant liabilities, interest expense, depreciation, and the provision (benefit) for income taxes .</li></ul><h4>Cash and Inventories</h4><ul><li>Cash and Cash Equivalents: As of March 31, 2026, cash and cash equivalents were $2,672 thousand, down from $2,886 thousand as of December 31, 2025 .</li><li>Inventories: Inventories increased to $1,600 thousand as of March 31, 2026, from $1,168 thousand as of December 31, 2025 .</li></ul><h4>Operational Metrics (Non-GAAP) Definition</h4>Management uses non-GAAP financial measures, which exclude stock-based compensation and changes in the fair value of warrant liabilities, to assess performance over comparable periods . These non-GAAP metrics include cost of goods sold, operating expenses, operating income (loss), net income (loss), and net income (loss) per share . Stock-based compensation is excluded due to its variability, and changes in the fair value of warrant liabilities are also excluded .<h4>Outlook / Guidance</h4>Peraso Inc. anticipates near-term challenges due to a delayed significant customer order and irregular order patterns from fixed wireless access customers and new customers . The company is focused on implementing measures to reduce reliance on single suppliers and is actively pursuing expanded opportunities for its 60 GHz mmWave technology, including initial production shipments to its lead Israeli defense customer, InTACT . Management’s primary focus for the coming quarters is to secure new purchase orders and improve the conversion rate of existing customer engagements into design wins for future growth .

Peraso | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 963 K