Peraso Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 13, 2026, reporting a sharp decline in revenue and a widening net loss compared to the same quarter of the prior year.

Key Highlights

  • Total net revenue of $284 thousand for the three months ended September 30, 2026, down from $3.234 million in the same period of 2025, according to the filing.
  • Net loss of $2.658 million for Q3 2026, compared to a net loss of $1.210 million in Q3 2025, as reported in the condensed consolidated statements of operations.
  • Cash and cash equivalents of $630 thousand as of September 30, 2026, down from $2.886 million at December 31, 2025.
  • Accumulated deficit reached $189.248 million as of September 30, 2026, up from $181.873 million at December 31, 2025.
  • Common shares outstanding of 15,467 thousand as of September 30, 2026, compared to 10,055 thousand at December 31, 2025, reflecting at-the-market stock sales during the nine-month period.
  • Nine-month net loss of $7.375 million for the period ended September 30, 2026, versus $3.510 million in the comparable 2025 period.

Peraso Reports Sharply Lower Q3 2026 Revenue and Widening Losses

According to the filing, Peraso Inc. (NASDAQ:PRSO) reported total net revenue of $284 thousand for the three months ended September 30, 2026, consisting of $263 thousand in product revenue and $21 thousand in services and other revenue. This compares to total net revenue of $3.234 million in the third quarter of 2025, with product revenue alone accounting for $3.062 million in that prior period. Gross profit for Q3 2026 was $223 thousand, against $1.817 million in Q3 2025.

The company disclosed operating expenses of $2.888 million for the third quarter of 2026, comprised of $1.532 million in research and development and $1.356 million in selling, general and administrative costs, producing a loss from operations of $2.665 million. For the nine months ended September 30, 2026, the registrant reported a loss from operations of $7.385 million on total net revenue of $2.554 million, compared to a loss from operations of $3.481 million on revenue of $9.323 million in the same period of 2025.

The balance sheet as of September 30, 2026 showed total assets of $4.178 million and total liabilities of $1.572 million, leaving total stockholders' equity of $2.606 million. The registrant raised capital during the nine-month period through at-the-market sales, with proceeds reported net across multiple quarters, and also utilized a committed equity facility in Q3 2026, raising net proceeds of $97 thousand from that facility. As of November 9, 2026, the filing stated that 20,862,435 shares of common stock and 55,986 exchangeable shares were outstanding.

What Was Disclosed

Peraso Inc. filed its quarterly report covering the period ended September 30, 2026, disclosing a significant year-over-year decline in revenue, an expanded net loss, reduced cash, and ongoing at-the-market equity issuances that increased the common share count materially from December 31, 2025.