SAN JOSE, CA / ACCESSWIRE / March 18, 2024 / Peraso Inc. (NASDAQ: PRSO) (“Peraso” or the “Company”), a global leader in mmWave technology for 60 GHz unlicensed and 5G licensed networks, today announced financial results for the fourth quarter and full year ended December 31, 2023.
Management Commentary
“Consistent with our prior expectations, product revenue for the fourth quarter reflected the ongoing inventory correction in the market for our mmWave products, as well as the non-linear timing of end-of-life shipments for our memory IC products,” commented Ron Glibbery, CEO of Peraso. “Since the beginning of the new year, these headwinds have begun to moderate, and we anticipate revenue growth to resume in the first quarter and for the full year. These expectations are supported by over $12 million of remaining total order backlog for our memory IC products, as well as new orders for…
