Peraso Inc., a fabless semiconductor company specializing in integrated mmWave technology for wireless communications, has seen slight revenue decline alongside ongoing operating losses. The company fully exited its memory product line by end-2025 and now concentrates on mmWave ICs and antenna modules for applications including fixed wireless access (FWA). With a highly concentrated customer base and long sales cycles, growth depends on securing new design wins and navigating industry cyclicality. Capital adequacy remains a key risk with modest cash reserves and significant accumulated deficits, underscoring the importance of additional financing to sustain operations.