Peraso (PRSO) Earnings Date & Reports

Key Takeaways

• Peraso Inc. (PRSO) is expected to report its third-quarter 2026 results in mid-November, following its fiscal Q2 2026 report on August 11, 2026.
• Wall Street consensus models a non-GAAP loss of roughly $0.16 to $0.18 per share on revenue of approximately $1.1 million, implying a year-over-year revenue decline of about 66%.
• Elevated memory-chip prices and supply constraints continue to dampen demand from fixed wireless access (FWA) customers.
• Defense, tactical communications, and unmanned aerial vehicle (UAV) programs remain the company's fastest-growing areas of the pipeline.
• A $25 million committed equity facility secured in Q2 2026 provides added working-capital runway as the company scales new products.
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Earnings Context and Why It Matters

Peraso is a small-cap developer of high-performance 60 GHz and 5G millimeter-wave (mmWave) wireless technology, serving fixed wireless access, defense, immersive video, and factory automation markets. The third-quarter 2026 report carries added weight because it will show whether emerging defense and UAV momentum can offset a pronounced slowdown in the company's core FWA business, where elevated memory-chip prices have compressed near-term orders. Investors will also scrutinize the company's cash position and gross margin trajectory, as well as any update on its previously disclosed strategic alternatives review, making this earnings event a key checkpoint for both near-term sentiment and the longer-term growth story.

Earnings Expectations

Analysts expect Peraso to report a narrower loss in Q3 2026, with consensus estimates clustering around a non-GAAP (non-Generally Accepted Accounting Principles) loss of $0.16 to $0.18 per share. Revenue estimates center near $1.1 million, a steep decline from the $3.23 million reported in the year-ago third quarter. For context, Peraso last reported Q2 2026 revenue of $1.31 million, up 36% sequentially from $963,000 in Q1 2026, alongside a non-GAAP net loss of $0.15 per share that beat the $0.18 consensus estimate.

Investors will be watching gross margin, which reached 63.7% in Q2 2026, as well as order backlog, cash balances, and any commentary on fixed wireless demand and defense design wins. Management has cautioned that near-term visibility remains limited due to lumpy customer order patterns and memory-component shortages affecting FWA deployments.

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Market Reaction and Investor Sentiment

Sentiment heading into the Q3 2026 report is cautious. Peraso's shares have been pressured by the decline in revenue and the lingering uncertainty around fixed wireless demand, even as defense-related announcements have generated periodic interest. The company has beaten consensus EPS estimates in four of its last eight quarters, but a history of lumpy orders and limited visibility has kept expectations muted. Key risk factors ahead of the print include the pace of defense order conversion, the duration of the memory-supply disruption, and dilution from ongoing at-the-market (ATM) share sales, which can weigh on per-share metrics and investor confidence.

Forward Outlook and Key Factors to Monitor

Following the earnings release, investors should focus first on guidance and demand signals from the fixed wireless access segment. Management has indicated that elevated memory prices and component supply constraints could extend into late 2026, so any commentary on when orders might recover will be closely watched.

Second, monitor progress in the defense and tactical communications pipeline. Peraso's collaboration with Intact on a drone identification friend-or-foe (IFF) system and its new PRM2145 jam-resistant module for UAVs represent meaningful growth avenues. The timing and magnitude of orders here remain uncertain, but design wins and field-trial outcomes could shape the company's longer-term revenue base.

Finally, watch gross margin trends, cash balances, and the strategic alternatives process. With gross margin recently near 64% and a $25 million equity facility in place, the company has flexibility, but ongoing operating losses and share issuance remain central considerations. Industry dynamics in mmWave and defense communications will also influence how quickly new opportunities translate into reported revenue.

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