SAN JOSE, CA - Peraso Inc. (NASDAQ:PRSO), a developer of mmWave wireless technology solutions, has announced a significant purchase order for its DUNE platform from a Kenyan wireless Internet service provider (WISP). This development signals a key advancement in the deployment of 60GHz technology on the African continent.
The DUNE platform, which utilizes mmWave technology, is designed to provide a robust and efficient solution for high-density environments. It features phased array antenna modules capable of supporting up to 32 end users per access point by focusing energy into narrow, steerable beams.
The unnamed WISP in Kenya plans to upgrade its network from the current 5GHz technology to the 60GHz mmWave technology offered by Peraso's DUNE platform. The company anticipates that this transition will not only enhance performance but also lead to higher density operation and reduced costs per customer.
Peraso's CEO, Ron Glibbery, expressed enthusiasm about the project, noting the platform's potential to revolutionize wireless connectivity in urban areas throughout Kenya, including major cities like Nairobi and Mombasa.
The implementation of the DUNE system will be carried out in two phases, starting with point-to-point (PTP) for backhaul and followed by point-to-multipoint (PTMP) for last-mile access. The upgrade is expected to significantly improve internet service quality for the WISP's customers.
In Kenya, with an estimated internet user base of 22.7 million people, the impact of the DUNE platform's deployment could be substantial. Peraso's innovation in this area reinforces its position within the wireless communications industry, as it continues to meet the growing global demand for reliable, high-speed internet.
The information in this article is based on a press release statement from Peraso Inc.
In other recent news, Peraso Inc. has made significant strides in its financial performance and technological advancements. The company reported robust Q2 2024 results, with revenues surpassing expectations at a total of $4.2 million, marking over 50% sequential growth and over 70% year-over-year growth. This increase was driven by increased shipments of end-of-life memory IC products and a new order for millimeter-wave antenna modules. Despite reporting net losses on both GAAP and non-GAAP bases, the company has a significant backlog of non-cancelable purchase orders and a growing pipeline of customer engagements for millimeter-wave solutions.
On the technology front, Peraso secured a purchase order for its High-Velocity Roaming (HVR) technology aimed at enhancing internet connectivity on moving trains and subways in Korea. The company's CEO, Ron Glibbery, also mentioned a similar deployment project for the rail system in China. These developments reflect Peraso's strategic goal to improve global connectivity solutions in urban transit systems.
Looking ahead, Peraso anticipates third-quarter IC memory product shipments to be in line with the second quarter. The company remains focused on converting customer engagements into production orders for its millimeter-wave products. These are the recent developments in the company's operations.
InvestingPro Insights
While Peraso Inc. (NASDAQ:PRSO) is making strides in the African market with its DUNE platform, recent financial data from InvestingPro reveals a complex picture of the company's current position.
According to InvestingPro data, Peraso's market capitalization stands at a modest $3.88 million USD, reflecting its status as a small-cap technology player. The company's revenue for the last twelve months as of Q2 2024 was $13.37 million USD, with a concerning revenue growth decline of -8.55% over the same period.
An InvestingPro Tip highlights that Peraso is "quickly burning through cash," which could be a concern for investors considering the capital-intensive nature of developing and deploying new wireless technologies. This cash burn rate may explain why the stock "has taken a big hit over the last week," with a 1-week price total return of -11.9%.
Despite these challenges, another InvestingPro Tip notes that Peraso "holds more cash than debt on its balance sheet," which could provide some financial flexibility as it pursues growth opportunities like the Kenyan WISP contract.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips that could provide deeper insights into Peraso's financial health and market position. These additional tips could be particularly valuable given the company's current trajectory and its efforts to expand in emerging markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.