NEW YORK, May 28, 2026, 12:03 PM EDT
Peraso Inc. shares jumped about 13% in late-morning Nasdaq trading on Thursday, outpacing the broader market as the small wireless-chip company drew fresh buying after closing Wednesday at $1.03. The stock traded near $1.165, between an intraday low of $1.02 and high of $1.19, with volume around 1.29 million shares.
The move matters because Peraso is still trading off a thin but important May news stack: weak first-quarter results, a delayed customer order that management says has now shipped, and a balance sheet that leaves little room for execution mistakes. There was no obvious new company catalyst in the latest official materials; the story is whether the company can turn customer trials and deferred demand into purchase orders.
Peraso, a fabless semiconductor company, develops millimeter-wave, or mmWave, wireless technology — very high-frequency wireless links used for high-capacity data transmission. Its common stock trades on Nasdaq under PRSO, a May 14 quarterly filing showed.
The company said first-quarter net revenue fell to $963,000 from $3.87 million a year earlier, while its GAAP net loss — a loss under standard U.S. accounting rules — widened to $2.5 million, or 22 cents a share. Product revenue was $667,000, down from $3.8 million a year earlier.
Chief Executive Ron Glibbery said the quarter was hit by a pushed-out order tied to late materials from a supplier, but said the order shipped in the current quarter. On the May 11 call, he was more direct: “the issue’s been completely resolved,” adding, “We don’t expect to see this again.” StockAnalysis
Kevin Liu at K. Liu & Company, which disclosed that it has been paid by Peraso for sponsored research, wrote on May 12 that first-quarter results were in line with the company’s pre-announced range, but that visibility for fixed wireless access orders remained “murky to say the least.” Liu cut his price target to $1.25 from $1.75 and said the stock was likely in “show-me” mode. K. Liu & Company LLC
Peraso guided for second-quarter revenue of about $1.2 million, based on shipments to date and existing backlog. Chief Financial Officer Jim Sullivan also told investors that gross margin — the share of sales left after direct costs — should shift back toward product revenue and “come back down into the 50s.” StockAnalysis
The competitive backdrop is crowded, and not cleanly comparable. Peraso sells chips and modules that must win designs inside customer products, while equipment names such as Ubiquiti and Cambium Networks sell 60 GHz fixed-wireless gear directly into broadband networks; Ubiquiti lists a Wave 60 GHz product family, and Cambium markets cnWave as multi-gigabit millimeter-wave fixed wireless technology.
Management has tried to pull the story beyond fixed wireless. Peraso said in April it delivered initial limited-production 60 GHz modules to Israeli defense contractor InTACT for drone Identification Friend or Foe systems, while Glibbery also pointed to Edge AI applications, including robotaxis, drones and factory automation, where dense wireless links can be a bottleneck.
But the rally has a hard risk line. Peraso’s 10-Q said management saw “substantial doubt” about the company’s ability to continue as a going concern for at least 12 months beyond the filing, citing expected losses, cash burn and the need to raise capital; it also warned that its strategic review, including a Mobix Labs proposal, may not lead to a transaction and could add volatility. SEC
For now, Thursday’s price action says traders are marking up the chance that the supplier snag is past tense. The next test is less forgiving: actual purchase orders, the $1.2 million Q2 revenue guide, and whether defense or Edge AI work can offset uneven fixed-wireless demand.
