Peraso (PRSO) Stock Forecast & Price Target

Peraso Inc is well-positioned for sustained growth in its mmWave revenue throughout 2025, bolstered by an expanding order backlog and increased production commitments from customers. The company's total opportunity funnel has shown a notable increase, rising to 82 from 69, with a qualified pipeline improvement from 18 to 23 year-over-year. Additionally, Peraso's focus on tactical communications and the identification of new application areas for mmWave technology suggests a strong potential for enhanced market deployment and competitive advantages.

Peraso Inc. faces significant financial challenges due to its concentrated customer mix, particularly reliance on major clients like WeLink, which have a history of delayed payments impacting working capital. The company's core mmWave product gross margins remain substantially below target, and projected declines in the memory business revenue exacerbates financial instability, as there are no plans for new product development. Additionally, without securing sufficient orders for mmWave modules and IC products or if market adoption fails, Peraso will likely need to seek additional capital in the next year, which could hinder its financial position and prolong losses through 2023.