Toronto, Canada – Peraso Inc. held its Q2 2024 Earnings Conference Call on August 12, 2024, discussing the financial results of the company with investors. The call was hosted by Jim Sullivan, Chief Financial Officer, and Ron Glibbery, Chief Executive Officer. Among the participants were investors and analysts from Benchmark, Ladenburg, and K. Liu & Company. The call included discussions on the company’s performance, strategic initiatives, and outlook for the future.

During the call, the executives highlighted the strong performance of the company in the second quarter, with total revenue exceeding expectations and showing significant growth year-over-year. Revenue was driven by increased shipments of end-of-life memory IC products and new volume production orders for millimeter-wave antenna modules. The company also reported improvements in gross margin, despite slight increases in operating expenses due to certain charges incurred during the quarter.

Ron Glibbery, the CEO of Peraso, provided insights into the company’s growth strategy, particularly in expanding its customer base for millimeter-wave technology. He emphasized the importance of diversifying customer engagement and highlighted the potential of the global engagement pipeline for new RF millimeter-wave business. Peraso’s focus on dense urban network environments, such as the DUNE platform for fixed wireless access, received positive feedback from customers, with deployments expected in North America and Africa.

The company also discussed the emerging opportunities in the military and defense sector, showcasing the unique advantages of their technology in providing stealth capabilities and low probability of detection. Additionally, the executives addressed the potential impact of federal grants, such as the BEAD program, on expanding market opportunities for millimeter-wave solutions, especially in the United States.

Overall, the conference call provided investors and analysts with valuable insights into Peraso’s performance, strategic direction, and growth opportunities in the evolving market landscape. With a strong focus on innovation, customer engagement, and market expansion, Peraso Inc. remains poised for continued success in the coming quarters.