Peraso Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024, on March 19, 2025. The company reported that fourth-quarter total revenue increased by 100% year-over-year.
GAAP gross margin for the fourth quarter expanded to 56.3%, with non-GAAP gross margin reaching 71.6%. This growth was primarily driven by ongoing end-of-life (EOL) shipments for the company's memory IC products.
Management noted that the strong revenue growth and improved margins reflect operational progress as the company navigates its transition. The full year results provide a complete picture of Peraso's performance leading into its mmWave-focused future.
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