Peraso Inc. announced its financial results for the first quarter ended March 31, 2025, on May 12, 2025. The company reported a 37% increase in total revenue year-over-year, primarily driven by triple-digit growth from its mmWave products.
During the first quarter, Peraso completed the final end-of-life (EOL) shipments for its legacy memory IC products. This marks a pivotal moment in the company's strategic transition to fully focus on its mmWave portfolio.
Management stated that the results demonstrated continued progress and year-over-year revenue growth as mmWave product orders ramped up. This report confirms the successful execution of the company's strategic pivot and the increasing contribution of its core mmWave business.
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