Peraso Inc. Files 10-Q for Quarterly Period Ended March 31, 2024

TL;DR

<b>Peraso Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial status and operations.</b>

AI Summary

Peraso Inc. (PRSO) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Peraso Inc. filed a Form 10-Q for the quarterly period ended March 31, 2024. The company is registered in Delaware with IRS Employer Identification Number 77-0291941. Peraso Inc.'s common stock trades under the symbol PRSO on The Nasdaq Stock Market, LLC. The filing indicates Peraso Inc. is a non-accelerated filer and a smaller reporting company. The company's principal executive office is located at 2309 Bering Drive, San Jose, California.

Why It Matters

For investors and stakeholders tracking Peraso Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and operational updates for Peraso Inc. for the first quarter of 2024. As a smaller reporting company and non-accelerated filer, this report is crucial for understanding Peraso Inc.'s current financial health and compliance status.

Risk Assessment

Risk Level: low — Peraso Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating routine disclosure.

Analyst Insight

Monitor future filings for detailed financial results and management's discussion on performance and outlook.

Key Numbers

• 20240331 — Quarterly Period End Date (CONFORMED PERIOD OF REPORT)
• 20240514 — Filing Date (FILED AS OF DATE)
• 000-32929 — Commission File Number (Commission file number)
• 0001213900-24-042928 — Accession Number (ACCESSION NUMBER)

Key Players & Entities

• Peraso Inc. (company) — FORM 10-Q
• March 31, 2024 (date) — For the quarterly period ended March 31, 2024
• Delaware (jurisdiction) — State or other jurisdiction of Incorporation or organization
• 77-0291941 (identifier) — I.R.S. Employer Identification Number
• PRSO (ticker) — Trading symbol(s)
• The Nasdaq Stock Market, LLC (company) — Name of each exchange on which registered
• 2309 Bering Drive (address) — Address of principal executive office
• San Jose (city) — Address of principal executive office

FAQ

Industry Context

Peraso Inc. operates in the semiconductors and related devices industry, focusing on wireless communication technologies.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including quarterly filings under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze Peraso Inc.'s financial performance and operational highlights for the first quarter of 2024.
3. Compare current quarter results with historical data and industry trends.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending March 31, 2024, following the reporting period.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share PRSO The Nasdaq Stock Market,

Filing Documents

• ea0205854-10q_peraso.htm (10-Q) — 696KB
• ea020585401ex31-1_peraso.htm (EX-31.1) — 18KB
• ea020585401ex31-2_peraso.htm (EX-31.2) — 18KB
• ea020585401ex32-1_peraso.htm (EX-32.1) — 9KB
• 0001213900-24-042928.txt (&nbsp;) — 5130KB
• prso-20240331.xsd (EX-101.SCH) — 61KB
• prso-20240331_cal.xml (EX-101.CAL) — 32KB
• prso-20240331_def.xml (EX-101.DEF) — 264KB
• prso-20240331_lab.xml (EX-101.LAB) — 484KB
• prso-20240331_pre.xml (EX-101.PRE) — 265KB
• ea0205854-10q_peraso_htm.xml (XML) — 614KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 1 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited): 1 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 4.

Controls and Procedures

Controls and Procedures 30

— OTHER INFORMATION

PART II — OTHER INFORMATION 31 Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 5. O ther Information 31 Item 6. Exhibits 32

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PERASO INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) March 31, December 31, 2024 2023 (unaudited) ASSETS Current assets Cash and cash equivalents $ 2,435 $ 1,583 Accounts receivable, net 1,482 731 Inventories, net 2,756 2,606 Tax credits and receivables 27 36 Prepaid expenses and other 758 584 Total current assets 7,458 5,540 Property and equipment, net 981 1,156 Right-of-use lease assets 524 615 Intangible assets, net 2,464 3,280 Other 121 123 Total assets $ 11,548 $ 10,714 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 2,221 $ 2,448 Accrued expenses and other 748 611 Deferred revenue 1,110 1,105 Short-term lease liabilities 328 370 Total current liabilities 4,407 4,534 Long-term lease liabilities 277 349 Warrant liabilities 158 1,748 Total liabilities 4,842 6,631 Commitments and contingencies (Note 4) Stockholders' equity Preferred stock, $ 0.01 par value; 20,000 shares authorized; none issued and outstanding — — Series A, special voting preferred stock, $ 0.01 par value; one share authorized; and one share issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 120,000 shares authorized; 2,289 shares and 673 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 2 1 Exchangeable shares, no par value; unlimited shares authorized; 95 shares outstanding at March 31, 2024 and December 31, 2023 — — Additional paid-in capital 175,127 170,474 Accumulated deficit ( 168,423 ) ( 166,392 ) Total stockholders' equity 6,706 4,083 Total liabilities and stockholders' equity $ 11,548 $ 10,714 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 PERASO INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)

View Full Filing

View this 10-Q filing on SEC EDGAR