Peraso (PRSO) Stock: Why It Increased Over 2.5% Today

By Amit Chowdhry ● Aug 4, 2022
  • The stock price of Peraso (PRSO) increased by over 2.5% during intraday trading today. This is why.

The stock price of Peraso (PRSO) increased by over 2.5% during intraday trading today. Investors are responding positively to Peraso announcing the company has received purchase orders from multiple leading Fixed Wireless Access (FWA) customers totaling $6.4 million. 

These orders include a combination of Peraso’s mmWave silicon and PERSPECTUS’ family of FWA modules, both of which enable multi-gigabit access and point-to-multipoint capabilities for delivering high-bandwidth connectivity with industry-leading efficiency. Initial delivery of the orders is expected to commence late in the third quarter of 2022 and continue into 2023.

KEY QUOTE:

“Our longstanding goal continues to be innovation that enables our partners to solve the toughest mmWave challenges. These sizable purchase orders from established wireless internet equipment and service providers demonstrate the FWA market’s need for comprehensive mmWave solutions, for which Peraso is positioned as a leading supplier of field-proven technology. Following the recent introduction of our fully integrated PERSPECTUS modules, which enable faster and lower-cost deployment of FWA networks and equipment, we continue to have a growing pipeline of new customer engagements that we anticipate converting to additional design wins and orders in the coming quarters.”

— Ron Glibbery, CEO of Peraso