Peraso

PRSO

Semiconductors · Technology

Price

$0.75

-0.01 (-1.11%)

Market Cap

$9.4M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+4714.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 147K (2021) → 7.1M (2025)

Peraso Inc. is a small semiconductor company that designs chips used for high-speed wireless communication. Its main products are millimeter-wave (mmWave) chips and modules, which enable very fast, short-range wireless data transfer. These chips are used in applications like fixed wireless access, industrial connectivity, and high-bandwidth networking equipment.

Peraso earns money by selling its semiconductor chips and modules to equipment makers and system integrators. The company operates primarily in North America and Asia, and it is quite small, with a market cap under $100 million. Its technology focus on mmWave frequencies gives it a niche position, but it faces intense competition from much larger chipmakers. The biggest risk the company faces is its heavy cash burn — an operating margin of nearly negative 73% means it spends far more than it earns, making it dependent on raising additional capital to survive while it tries to grow revenue in the emerging mmWave wireless market.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-75.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-125.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$6M/ year

↓ Declining (-32% vs prior year)

51.2% of revenue

3.4x the sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

4.0%ownership

Relatively low insider ownership

Cash Runway

~3 months

$3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Peraso has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

61.5%

Premium pricing power — 61.5% gross margin

Operating Margin

-257.9%

Losing money on operations — -257.9%

ROCE

-52.9%

Weak — -52.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-40.6%

Shrinking sales (-40.6% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-78.4%

Burning cash (-78.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.02

Conservative — low debt load (0.02)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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