In April 2026, Peraso delivered an initial limited production shipment of its proprietary 60GHz mmWave modules to Israeli defense contractor InTACT, optimized for size, weight and power (SWaP) with beamforming antennas for drone and infantry applications. Peraso is actively expanding its presence in the fixed wireless access market, leveraging its DUNE platform for urban deployments and securing new OEM customer orders for FWA equipment. However, the company faces significant near-term execution challenges related to demand visibility and supplier dependencies.
Cyborg Score Rationale
Q1 2026 revenue collapsed to $1.0 million, down from $2.9 million in the prior quarter and $3.9 million a year ago. The company remains deeply unprofitable with roughly $12.2M in annual 2025 revenue. While the InTACT defense win represents validation, poor demand visibility, supplier issues, and negative cash flow create material execution risk.
Top Insights
Peraso delivered its first production shipment of 60GHz mmWave modules to Israeli defense contractor InTACT in April 2026, marking a production-readiness milestone.
CEO cited 'irregular order patterns' from existing fixed wireless access (FWA) customers and a lack of 'observable order patterns' from multiple new customers, suggesting poor demand visibility.
Peraso reported approximately $2.9 million in cash against modest total liabilities of roughly $1.4 million as of Q1 2026.
Full-year mmWave product revenue increased 6x year-over-year in 2025, but overall revenue declined due to memory IC product phase-out.
Named Competitors
Qualcomm — Wireless semiconductor and 5G mmWave technology
Qorvo — RF semiconductor solutions for wireless communications
Analog Devices — Broadband wireless and mixed-signal ICs
Recent Developments
(May 2026) Q1 2026 earnings announced $1.0M revenue, down 66% sequentially from Q4 2025
(April 2026) Delivered initial production shipment of 60GHz modules to Israeli defense contractor InTACT for drone Identification Friend or Foe system
(December 2025) Appointed wireless veteran Cees Links to board of directors; previously founded GreenPeak Technologies
(November 2025) Showcased DUNE platform at Africa Tech Festival for multi-gigabit 60GHz broadband in underserved regions
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