Peraso Inc. (PRSO) Earnings
Peraso Inc. is expected to report next earnings on November 9, 2026 (in NaN days), with a consensus EPS estimate of $-0.18. PRSO has beaten EPS estimates in 6 of its last 9 reported quarters (average surprise +14.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 11, 2026 | $-0.18 | $-0.15 | +16.7% | $1M | +4.6% |
| May 11, 2026 | $-0.18 | $-0.20 | -11.1% | $963000 | -16.3% |
| Mar 16, 2026 | $-0.18 | $-0.13 | +27.8% | $3M | -20.3% |
| Mar 19, 2025 | $-0.17 | $-0.13 | +23.5% | $4M | -5.1% |
| Mar 18, 2024 | $-3.41 | $-8.52 | -149.9% | $2M | +7.8% |
| Aug 14, 2023 | $-3.20 | $-4.80 | -50.0% | $2M | -43.6% |
| May 15, 2023 | $-4.00 | $-3.60 | +10.0% | $5M | +11.3% |
| Mar 22, 2023 | $-6.80 | $-5.20 | +23.5% | $4M | -1.6% |
| Nov 14, 2022 | $-8.00 | $-4.00 | +50.0% | $3M | -25.1% |
| Aug 15, 2022 | — | $-9.20 | — | $4M | +28.3% |
| Mar 8, 2022 | — | $-28.00 | — | $2M | -44.2% |
| Nov 12, 2021 | — | $-17.62 | — | $2M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · August 11, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Overall Business Performance * Q2 2026 total net revenue was $1.3 million, a 30% sequential increase from Q1 2026's $1 million, and a 40.9% year-over-year decrease from Q2 2025's $2.2 million. Q2 revenue beat management's prior expectations, driven by the successful fulfillment of a previously delayed fixed wireless access order. * Gross margin reached 63.7% in Q2 2026, up from 61.5% in Q1 2026 and 48.3% in Q2 2025, driven by favorable millimeter wave product mix and sales of previously written-down inventory. * GAAP operating expenses were $3.1 million, consistent with Q1 2026 and up slightly from $2.9 million in Q2 2025. Non-GAAP operating expenses (excluding stock-based compensation) were $2.9 million, consistent with the prior quarter and reflecting sustained benefits from past cost reduction and ongoing cost containment initiatives. * GAAP net loss was $2.2 million ($0.16 loss per share) in Q2 2026, an improvement from the $2.5 million ($0.22 loss per share) net loss in Q1 2026. * As of June 30, 2026, Parasso held $3.3 million in cash, up from $2.7 million at the end of Q1 2026, following $2.4 million in net proceeds from the company's at-the-market offering program in Q2. - Strategic and Product Development * Core fixed wireless access remains Parasso's largest and most mature market for 60 GHz technology, but near-term order activity is subdued due to elevated memory prices and constrained component supply affecting core customers. * The company is actively diversifying into high-growth new end markets, including autonomous edge AI, unmanned aerial vehicles (UAVs/drones), and defense communications, leveraging 60 GHz's inherent advantages: directional narrow beams that reduce co-channel interference, enable multi-gigabit low-latency links, and offer low probability of intercept and detection. * Completed a successful customer demonstration with partner BioWorks in June 2026, achieving a 50+ gigabits per second peak aggregate data rate for a dense simulated drone swarm environment, proving 60 GHz's reliability where conventional sub-6 GHz technologies fail due to interference. * Continued solid progress on next-generation Identification Friend or Foe (IFF) drone systems with lead defense partner Intacct, following delivery of initial limited production modules earlier in 2026, with positive customer feedback validating the technology. * Launched the new PRM2145 jam-resistant 60 GHz communications module purpose-built for UAVs, autonomous systems, and defense applications. The module will be available for customer evaluation in Q4 2026, strengthening Parasso's early market position in these high-value segments. * Actively developing hybrid UAV network solutions that combine 60 GHz links with satellite backhaul or fiber to deliver high-capacity, low-latency, stealth, anti-jamming connectivity for contested or GPS-denied environments, in collaboration with prospective customers. - Operational and Financial Initiatives * Near-term priorities include strengthening supply chain resilience, reducing single-supplier bottlenecks, and securing new distribution partners to expand market reach. * On June 30, 2026, Parasso entered a $25 million committed equity facility with Roth Principal Investments, which provides optional access to capital for general corporate purposes and continued product development for new defense and UAV market opportunities. The facility remains fully untapped as of the call date. * The company continues to explore broad strategic alternatives including mergers, asset sales, and additional capital sources, with no new updates to share on the strategic review process as of the call.
Guidance
- Management cites limited near-term demand visibility due to irregular order patterns from core fixed wireless access customers, so no quarterly financial guidance is provided on this call. * Management expects current market headwinds affecting fixed wireless access to persist through Q4 2026, with order activity expected to improve once supply chain dislocations moderate and order patterns normalize. * New product development milestones: the PRM2145 UAV communications module is on track to be available for customer evaluation in Q4 2026. * Management expects initial low-volume shipments of defense-related secure communications products to begin in late 2026, with drone-specific production volume ramping in Q1/Q2 2027. Complex drone swarm applications are expected to take roughly one year to reach production readiness. * Management expects that the industry transition to DDR3 memory (which is more readily available than high-demand DDR4/DDR5) will alleviate component supply pressures by Q3 2026, supporting a return to fixed wireless order growth beginning in Q4 2026.
Segment performance
Parasso Inc. reports only two product segments for Q2 2026: 60 gigahertz millimeter wave products and legacy memory and related products. - 60 GHz millimeter wave products: Q2 2026 product revenue totaled $1.2 million, accounting for 92.3% of total Q2 2026 net revenue. This represents a 71.4% sequential increase from $0.7 million in Q1 2026, and a 45.5% year-over-year decrease from $2.2 million in Q2 2025. - Legacy memory and related products: Q2 2026 revenue was less than $25 thousand, accounting for less than 1.9% of total Q2 2026 net revenue. There were no legacy product sales in Q2 2025, and revenue remained below $25 thousand in Q1 2026.
Risks & headwinds
- Macro-related headwinds and irregular customer order patterns, particularly in the core fixed wireless access segment, have limited near-term demand visibility and are expected to extend into Q4 2026. * Persistently elevated prices and constrained supply of key components, specifically DDR4 and DDR5 memory, are limiting sales and causing lumpy order patterns across the business. * Forward-looking statements about future product adoption, revenue growth, and market opportunities are inherently uncertain, and actual results may differ materially from expectations due to unforeseen changes in market conditions, customer demand, and supply chain dynamics.
Analyst Q&A
Q: What is Parasso's current manufacturing capacity for high-volume drone orders, and can the company scale to meet large demand? /
A: Parasso's current production capacity is 30,000 to 50,000 units per month, and the company can scale to 100,000 units per month without major operational challenges. Primary silicon supplier TSMC easily accommodates this volume level, so scaling is only a matter of short lead time, not a capability constraint.
Q: How is Parasso gaining traction and visibility for its 60 GHz defense communications technology with military customers? /
A: Parasso has gained strong access to NATO defense technology consortiums, which is currently its primary channel for engagements with drone manufacturers and defense primes. The company also works with confidential regional partners, attends industry trade shows, and benefits from growing word-of-mouth as demand for jam-resistant drone communications increases. Management reports engaging with new prospective drone customers for design activity on a weekly basis.
Q: What is the timeline for gaining new defense production customers, and when can shipments of new defense products begin? /
A: Low-volume shipments of ground-based secure fixed wireless communications (a related adjacent market to drone applications) can begin as early as Q4 2026. Drone-specific production volume is expected to ramp in Q1 or Q2 2027. Complex drone swarm applications will take roughly one year to reach full production readiness. Currently, Parasso has already generated seven-figure revenue from engineering services and initial volume shipments for IFF programs with lead partner Intacct, and expects additional volume from this customer in coming quarters.
Q: When will fixed wireless access customers return to ordering, and will the recovery be gradual or sharp? What is being done to resolve component constraints? /
A: Management reports that new fixed wireless customer opportunities have recently emerged, including a large OEM opportunity in India, a Middle Eastern customer, and a new large OEM partner, with reorders already starting from some existing customers. The company expects clear recovery in orders by Q4 2026. To alleviate memory supply constraints, customers are transitioning to more available DDR3 memory (which works for most fixed wireless applications), and management expects this transition will ease supply pressures by Q3 2026.