# Peraso Inc.

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/fi/companies/Peraso Inc.).

## Overview

Peraso Inc. is a U.S.-based fabless semiconductor company focused on millimeter-wave integrated circuits, antenna modules, and related engineering services. Its products are designed for use in unlicensed 60 GHz wireless devices and in 28/39 GHz 5G applications, with a business model centered on chip design, module integration, and licensing-related revenue.

## Products & services

• mmWave integrated circuits for 60 GHz and 5G applications
• mmWave antenna modules with integrated IC and antenna
• Memory ICs and related product shipments
• Non-recurring engineering services for mmWave customers
• Royalty and license revenue from memory technology

- **mmWave ICs** (35%) — Integrated circuits for 60 GHz and 28/39 GHz wireless systems.
- **mmWave modules** (15%) — Antenna modules that combine Peraso ICs with the antenna element.
- **Memory ICs** (40%) — Legacy memory chip products sold as discrete semiconductor devices.
- **Royalty and other** (10%) — Royalties, non-recurring engineering services, and license revenue.

- mmWave integrated circuits for 60 GHz and 5G applications
- mmWave antenna modules with integrated IC and antenna
- Memory ICs and related product shipments
- Non-recurring engineering services for mmWave customers
- Royalty and license revenue from memory technology

## Customers

Peraso sells to customers that design wireless equipment, network devices, and other electronics requiring mmWave connectivity or custom semiconductor support. Its customer base also includes licensees and counterparties that generate royalty and engineering-service revenue tied to its memory and mmWave technologies. The business is oriented toward customers that need compact RF performance, faster time to market, and integrated antenna/chip solutions.

- **Wireless device OEMs** (primary) — Buy mmWave ICs and modules for 60 GHz and 5G-compliant devices.
- **Module and system integrators** (primary) — Buy integrated antenna modules to simplify RF design and deployment.
- **Memory technology licensees** (secondary) — Generate royalty revenue through licensed memory technology shipments.
- **Engineering services customers** (secondary) — Purchase non-recurring engineering work tied to mmWave development.

- Wireless device makers using 60 GHz or 5G mmWave chips
- Customers needing integrated antenna-module solutions
- Licensees of memory technology generating royalty revenue
- Engineering customers buying NRE support for custom designs
- OEMs seeking RF performance and faster product development

## Geography

Peraso is headquartered in the United States and operates as a fabless semiconductor designer, so its geographic footprint is shaped more by customer markets and supply-chain partners than by owned manufacturing sites. The company’s disclosures reference U.S. operations and international trade exposure, including dependence on foundry and supply-chain conditions that can affect shipments and product availability. Its business is therefore exposed to cross-border sourcing, customer demand, and trade-policy changes even though the core design activity is U.S.-based.

- Headquartered in the United States
- Fabless model relies on external manufacturing partners
- Supply-chain and foundry exposure affects product shipments
- Trade-policy changes can affect customers and partners
- International expansion is part of the operating footprint

## Strategy

Peraso’s strategy is to build a profitable, IP-rich fabless semiconductor business around mmWave products, modules, and related services. It is focused on expanding customer adoption of its 60 GHz and 5G offerings, supporting new production shipments, and using its integrated module architecture to reduce RF design complexity for customers.

- **Grow mmWave product shipments** (short-term) — Higher unit volumes improve the commercial viability of the mmWave platform.
- **Deepen IP-based differentiation** (medium-term) — Proprietary ICs, modules, and test methods support technical defensibility.
- **Broaden funding flexibility** (short-term) — Capital access supports product development and operating continuity.

- Expand mmWave product shipments and customer adoption
- Use integrated modules to simplify customer RF design
- Leverage IP and test methodology as competitive differentiators
- Pursue new customers and production ramps
- Maintain flexibility through strategic alternatives and financing

## Risks

Peraso faces substantial execution and financing risk because its business depends on continued product adoption, customer shipments, and access to capital. It is also exposed to semiconductor supply-chain volatility, trade-policy uncertainty, and customer concentration in specialized mmWave and legacy memory-related revenue streams.

- **Going concern and financing risk** [critical] — The company may need additional capital to fund operations and product development.
- **Supply-chain and manufacturing risk** [high] — Fabless semiconductor operations depend on external foundries, wafers, and substrates.
- **Trade and geopolitical risk** [medium] — Tariffs and trade tensions can affect sourcing, customers, and international planning.
- **Customer and technology adoption risk** [high] — mmWave products require design wins and production ramps to scale revenue.

- Going-concern and liquidity risk if external funding is unavailable
- Supply-chain disruptions can delay product shipments
- Manufacturing yield and lead-time variability can affect output
- Trade policy and tariffs can disrupt customers and partners
- Customer demand shifts can reduce royalty and product revenue

## Accounting

Peraso’s reported results are sensitive to revenue mix between product sales, royalties, and engineering services, which can shift quarter to quarter. Investors should also watch inventory write-downs, intangible asset amortization, and estimates tied to going-concern disclosures, since these can materially affect reported margins and asset values.

- **Revenue mix and timing** — Affects comparability of revenue and gross margin
- **Inventory valuation** — Can reduce gross profit when demand or obsolescence changes
- **Intangible asset amortization** — Changes reported gross margin and operating cost structure
- **Going-concern estimates** — Affects disclosure, valuation, and assessment of financial stability

- Revenue mix shifts between products, royalties, and NRE services
- Product revenue is recognized on shipment timing and customer acceptance
- Inventory write-downs can affect gross profit when demand changes
- Intangible asset amortization affects cost of revenue
- Going-concern assumptions and liquidity estimates are judgmental

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*Last updated: 2026-04-29T04:48:12.906253+00:00*