Peraso’s mmWave Sales Surge Six-Fold as Q4 Revenue Declines to $2.9M
Peraso’s full-year 2025 mmWave product revenue rose six-fold to contribute to shipments despite total revenue falling to $12.2 million from $14.6 million in 2024. Fourth-quarter net revenue was $2.9 million, GAAP gross margin slipped to 52.2% and non-GAAP net loss held at $1.2 million as memory IC shipments declined.
1. Fourth-Quarter Financial Results
Peraso reported Q4 2025 net revenue of $2.9 million, down from $3.7 million in Q4 2024. GAAP gross margin was 52.2%, non-GAAP gross margin also 52.2%, and GAAP net loss was $1.2 million, or $0.13 per share.
2. Full-Year Financial Results
For the full year, Peraso generated $12.2 million in net revenue, a 16% decline from $14.6 million in 2024. GAAP gross margin rose to 58.0% and GAAP operating expenses fell to $11.8 million from $20.0 million the prior year.
3. Product Growth and Design Wins
MmWave product revenue increased six-fold in 2025, driven by expanded 60 GHz shipments. The company secured multiple design wins, including MikroTik’s next-generation 60 GHz device, a drone IFF system with InTACT, and a collaboration with Virewirx on 1 Tb/h robotaxi connectivity.
4. Outlook for 2026
Management plans to broaden its customer base and design-win pipeline in fixed wireless access and tactical communications throughout 2026. The focus remains on high-bandwidth, secure connectivity solutions in congested environments using 60 GHz mmWave technology.