Peraso Inc. Files Q2 2024 10-Q Report

TL;DR

Peraso Inc. dropped its Q2 10-Q. Check financials.

AI Summary

Peraso Inc. filed its 10-Q for the quarterly period ended June 30, 2024. The company, formerly known as MoSys, Inc. and Monolithic System Technology Inc., is based in San Jose, California. The filing details its financial performance and operations for the specified quarter.

Why It Matters

This filing provides investors with an update on Peraso Inc.'s financial health and operational status for the second quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a public company filing a quarterly report, there are inherent risks associated with financial performance and market conditions.

Key Numbers

• 20240630 — Quarter End Date (The report covers the period ending on this date.)
• 000-32929 — Commission File Number (Unique identifier for the company's SEC filings.)

Key Players & Entities

• Peraso Inc. (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• MoSys, Inc. (company) — Former company name
• Monolithic System Technology Inc (company) — Former company name
• 2309 Bering Drive San Jose, California 95131 (address) — Principal executive office address
• 000-32929 (filing_id) — Commission file number

FAQ

Key Financial Figures

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

Filing Documents

• ea0210943-10q_peraso.htm (10-Q) — 1022KB
• ea021094301ex31-1_peraso.htm (EX-31.1) — 11KB
• ea021094301ex31-2_peraso.htm (EX-31.2) — 10KB
• ea021094301ex32-1_peraso.htm (EX-32.1) — 6KB
• 0001213900-24-068354.txt ( ) — 6067KB
• prso-20240630.xsd (EX-101.SCH) — 60KB
• prso-20240630_cal.xml (EX-101.CAL) — 34KB
• prso-20240630_def.xml (EX-101.DEF) — 294KB
• prso-20240630_lab.xml (EX-101.LAB) — 524KB
• prso-20240630_pre.xml (EX-101.PRE) — 293KB
• ea0210943-10q_peraso_htm.xml (XML) — 766KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 1 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited): 1 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 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 26 Item 4.

Controls and Procedures

Controls and Procedures 33

— OTHER INFORMATION

PART II — OTHER INFORMATION 34 Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 5. Other Information 36 Item 6. Exhibits 37

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements PERASO INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) June 30, December 31, 2024 2023 (unaudited) ASSETS Current assets Cash and cash equivalents $ 1,868 $ 1,583 Accounts receivable, net 1,460 731 Inventories, net 2,606 2,606 Prepaid expenses and other 810 620 Total current assets 6,744 5,540 Property and equipment, net 807 1,156 Right-of-use lease assets 441 615 Intangible assets, net 1,647 3,280 Other 120 123 Total assets $ 9,759 $ 10,714 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 2,318 $ 2,448 Accrued expenses and other 2,213 611 Deferred revenue 797 1,105 Short-term lease liabilities 272 370 Total current liabilities 5,600 4,534 Long-term lease liabilities 235 349 Other long-term liabilities 261 — Warrant liabilities 103 1,748 Total liabilities 6,199 6,631 Commitments and contingencies (Note 5) 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 June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 120,000 shares authorized; 2,706 shares and 673 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 3 1 Exchangeable shares, no par value; unlimited shares authorized; 87 shares and 95 shares outstanding at June 30, 2024 and December 31, 2023, respectively — — Additional paid-in capital 176,405 170,474 Accumulated deficit ( 172,848 ) ( 166,392 ) Total stockholders' equity 3,560 4,083 Total liabilities and stockholders' equity $ 9,759 $ 10,714 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 PERASO INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIV

View Full Filing

View this 10-Q filing on SEC EDGAR