Peraso Inc. Common Stock (PRSO)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn consistent profits, generate cash, and trade below intrinsic value. Peraso does not yet meet that test. It makes mmWave integrated circuits and antenna modules, a technically interesting niche, but it is a 42-employee fabless semiconductor company with no demonstrated earnings record. In fiscal 2025, the year ended 2025-12-31, revenue was $12.2 million and net income was -$4.8 million. That followed fiscal 2024 revenue of $14.6 million and net loss of $10.7 million, and fiscal 2023 revenue of $13.7 million and net loss of $16.8 million. The losses have narrowed, but the top line is not growing. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $1.3 million and net income was -$2.2 million; in fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $963,000 and net income was -$2.5 million. At the 2026-10-13 close of $0.37, market cap is about $5.6 million. FairStock's calculations show P/B 1.12, negative P/E, ROE -181.24%, ROCE -75.22%, TTM FCF -$6.9 million, and FCF yield -123.2%. The balance sheet has low reported D/E of 0.03, but Altman Z-score is -36.90 and Piotroski F-score 5/9, so financial strength is questionable. The Lynch category is none because it lost money in each of the last four years. A low price is not the same as a bargain. Without improving sales and positive cash flow, book value can shrink. I see no margin of safety in the figures.

In plain English: Peraso is a small semiconductor company that makes high-frequency wireless chips and antenna modules. The business looks weak: sales are small and recently fell, and it has been losing money every year. At 37 cents a share, the price looks low, but the company is not clearly cheap because it is unprofitable and burning cash.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer