The company's financial position is increasingly strained, with total assets shrinking from $10.7 million in 2023Q4 to $6.4 million in 2026Q1, while accumulated deficits have pushed retained earnings to -$184.4 million.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 |
|---|
| Total Current Assets | 5.67M | 5.47M | 6.29M | 5.54M | 12.71M | 23.68M | 6.58M | 5.68M | 10.8M | 8.66M | 12.25M | 23.27M | 25.49M | 38.38M | 34.98M | 52M | 34.01M | 36.33M | 47.35M | 68.77M | 87.49M | 72.29M | 66.47M | 47.79M | 75.58M | 87.7M |
| Cash & Short-Term Investments | 2.67M | 2.89M | 3.34M | 1.58M | 2.91M | 15.16M | 1.71M | 6.35M | 7.1M | 3.87M | 9.77M | 20.24M | 23.55M | 36.56M | 33.33M | 49.44M | 29.35M | 31.34M | 44.08M | 64.96M | 81.81M | 68.65M | 62.35M | 41.37M | 68.43M | 84.29M |
| Cash Only | 2.67M | 2.89M | 3.34M | 1.58M | 1.83M | 5.89M | 1.71M | 6.05M | 7.1M | 3.87M | 8.77M | 5.64M | 3.11M | 4.36M | 2.53M | 40.02M | 14.34M | 7.12M | 17.52M | 37.67M | 11.12M | 9.17M | 31.71M | 22.03M | 26.32M | 47.36M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 1.08M | 9.27M | 0 | 300K | 0 | 0 | 1M | 14.6M | 20.44M | 32.19M | 30.8M | 9.41M | 15.01M | 24.21M | 26.56M | 27.29M | 70.69M | 59.48M | 30.64M | 19.33M | 42.11M | 36.93M |
| Accounts Receivable | 867K | 1.22M | 682K | 767K | 3.29M | 3.54M | 922K | 1.24M | 1.71M | 1.68M | 576K | 777K | 337K | 530K | 607K | 1.2M | 2.12M | 3.01M | 1.12M | 1.41M | 2.85M | 1.01M | 1.18M | 2.13M | 1.64M | 208K |
| Days Sales Outstanding | 47.87 | 36.49 | 17.08 | 20.36 | 80.64 | 227.2 | 37.02 | 891.58 | 37.56 | 69.39 | 34.9 | 64.6 | 27.97 | 43.99 | 36.43 | 31.05 | 55.27 | 95.85 | 29.04 | 26.82 | 54.11 | 33.93 | 50.44 | 48.52 | 24.48 | 4.72 |
| Inventory | 1.6M | 1.17M | 2.08M | 2.61M | 5.35M | 3.82M | 1.6M | 1.11M | 1.15M | 1.77M | 1.45M | 1.6M | 881K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 474K | 1.04M | 1.69M |
| Days Inventory Outstanding | 119.42 | 83.17 | 107.79 | 80.09 | 218.96 | 426.84 | 334.72 | 846.93 | 64.89 | 134.12 | 166.23 | 208.55 | 678.41 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 534K | 195K | 99K | 28K | 738K | 167K | 2.22M | -4M | 61K | 87K | 90K | 519K | 584K | 1.67M | 1.36M | 1.26M | 3.38M | 3.23M | 2.16M | 2.39M | 1.32M | 2.61M | 2.6M | 3.82M | 4.47M | 1.51M |
| Total Non-Current Assets | 725K | 611K | 913K | 5.17M | 9.77M | 24.27M | 3.4M | 4.5M | 959K | 14.48M | 14.89M | 25.43M | 27.13M | 39.61M | 34.56M | 37.63M | 39.96M | 39.44M | 38.58M | 30.03M | 16.27M | 31.35M | 38.11M | 59.1M | 27.51M | 1.76M |
| Property, Plant & Equipment | 621K | 506K | 779K | 1.77M | 3.37M | 2.97M | 3.35M | 4.29M | 279K | 827K | 1.27M | 1.63M | 854K | 706K | 1.24M | 1.38M | 2.16M | 1.56M | 958K | 1.4M | 855K | 1.12M | 685K | 1.8M | 3.35M | 1.67M |
| Fixed Asset Turnover | 16.06x | 24.10x | 18.71x | 7.76x | 4.41x | 1.91x | 2.71x | 0.12x | 59.50x | 10.69x | 4.73x | 2.69x | 5.15x | 6.23x | 4.91x | 10.21x | 6.49x | 7.34x | 14.64x | 13.78x | 22.49x | 9.65x | 12.49x | 8.93x | 7.28x | 9.64x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 9.95M | 0 | 0 | 420K | 13.28M | 13.28M | 23.13M | 23.13M | 23.13M | 23.13M | 23.13M | 23.13M | 23.02M | 12.33M | 12.33M | 12.33M | 12.33M | 12.33M | 12.33M | 12.33M | 0 |
| Intangible Assets | 0 | 6K | 13K | 3.28M | 6.28M | 8.36M | 0 | 153.84K | 0 | 111K | 223K | 334K | 655K | 1.66M | 2.65M | 4.4M | 6.24M | 4.62M | 0 | 2.17M | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 2.93M | 0 | 0 | 0 | 0 | 0 | 0 | 2.25M | 13.93M | 7.38M | 8.54M | 8.19M | 9.1M | 23.39M | 13.69M | 2.49M | 17.34M | 24.56M | 44.46M | 11.4M | 0 |
| Other Non-Current Assets | 104K | 99K | 121K | 123K | 123K | 78K | 53K | 52.56K | 260K | 263K | 121K | 329K | 244K | 193K | 149K | 181K | 232K | 1.15M | 1.91M | 449K | 598K | 563K | 539K | 514K | 431K | 93K |
| Total Assets | 6.4M | 6.08M | 7.21M | 10.71M | 22.49M | 47.95M | 9.99M | 10.18M | 11.76M | 23.14M | 27.14M | 48.69M | 52.63M | 77.99M | 69.53M | 89.64M | 73.97M | 75.77M | 85.93M | 98.8M | 103.76M | 103.64M | 104.58M | 106.89M | 103.09M | 89.46M |
| Asset Turnover | 1.53x | 2.01x | 2.02x | 1.28x | 0.66x | 0.12x | 0.91x | 0.05x | 1.41x | 0.38x | 0.22x | 0.09x | 0.08x | 0.06x | 0.09x | 0.16x | 0.19x | 0.15x | 0.16x | 0.19x | 0.19x | 0.10x | 0.08x | 0.15x | 0.24x | 0.18x |
| Asset Growth % | -77.18% | -15.64% | -32.74% | -52.35% | -53.11% | 380.13% | -1.88% | -13.42% | -49.19% | -14.76% | -44.25% | -7.48% | -32.52% | 12.16% | -22.43% | 21.19% | -2.38% | -11.82% | -13.02% | -4.78% | 0.12% | -0.9% | -2.16% | 3.69% | 15.23% | - |
| Total Current Liabilities | 1.7M | 1.32M | 3.5M | 4.53M | 4.68M | 5.59M | 2.35M | 1.72M | 1.91M | 6.62M | 3.33M | 3.6M | 2.85M | 2.35M | 4.82M | 4.04M | 6.76M | 10.94M | 4.04M | 2.5M | 2.79M | 4.11M | 3.94M | 3.37M | 4.37M | 5.36M |
| Accounts Payable | 895K | 679K | 1.04M | 2.45M | 1.84M | 1.94M | 1.09M | 218K | 236K | 170K | 561K | 940K | 495K | 276K | 393K | 336K | 839K | 514K | 167K | 146K | 307K | 236K | 120K | 116K | 82K | 254K |
| Days Payables Outstanding | 91.44 | 48.35 | 53.71 | 75.23 | 75.5 | 216.21 | 226.77 | 166.66 | 13.34 | 12.91 | 64.27 | 122.75 | 381.17 | 212.53 | 429.48 | 37.22 | 109.49 | 67.08 | 21.77 | 16.72 | 35.16 | 37.98 | - | - | - | - |
| Short-Term Debt | 95K | 0 | 0 | 0 | 330K | 0 | 581K | 166K | 0 | 0 | 0 | 138K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13K | 89K | 0 |
| Deferred Revenue (Current) | 124K | 8K | 341K | 1.1M | 332K | 375K | 0 | 166K | 573K | 3.94M | 0 | 31K | 0 | 170K | 481K | 920K | 1.8M | 2.9M | 639K | 201K | 619K | 1.31M | 501K | 506K | 1.78M | 3.28M |
| Other Current Liabilities | 605K | 0 | 1.99M | 206K | 1.02M | 0 | 1K | 909.18K | 1.05M | 1.74M | 2.77M | 2.53M | 963K | 805K | 2.77M | 2.78M | 4.12M | 7.52M | 3.24M | 2.16M | 1.86M | 2.56M | 3.31M | 2.73M | 2.42M | 1.82M |
| Current Ratio | 3.34x | 4.14x | 1.80x | 1.22x | 2.72x | 4.23x | 2.80x | 3.31x | 5.65x | 1.31x | 3.67x | 6.46x | 8.96x | 16.30x | 7.25x | 12.89x | 5.03x | 3.32x | 11.71x | 27.45x | 31.35x | 17.59x | 16.89x | 14.19x | 17.30x | 16.37x |
| Quick Ratio | 2.40x | 3.25x | 1.20x | 0.65x | 1.57x | 3.55x | 2.12x | 2.67x | 5.05x | 1.04x | 3.24x | 6.01x | 8.65x | 16.30x | 7.25x | 12.89x | 5.03x | 3.32x | 11.71x | 27.45x | 31.35x | 17.59x | 16.89x | 14.05x | 17.07x | 16.06x |
| Cash Conversion Cycle | 75.85 | 71.31 | 71.16 | 25.22 | 224.11 | 437.83 | 144.98 | 1.57K | 89.11 | 190.6 | 136.86 | 150.4 | 325.2 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 97K | 121K | 237K | 2.1M | 2.55M | 288K | 11.56M | 3.88M | 2.69M | 9.18M | 8.48M | 247K | 241K | 216K | 171K | 109K | 146K | 136K | 0 | 0 | 54K | 196K | 239K | 13K | 25K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 4.32M | 1.63M | 2.67M | 9.16M | 8.25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13K | 25K | 0 |
| Capital Lease Obligations | 293K | 97K | 182K | 349K | 470K | 288K | 532K | 742.06K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 33K | 24K | 55K | 1.75M | 2.08M | 0 | 6.71M | 1.5M | 17K | 18K | 233K | 247K | 241K | 216K | 171K | 109K | 146K | 136K | 0 | 0 | 54K | 196K | 239K | 0 | 0 | 0 |
| Total Liabilities | 1.79M | 1.44M | 3.74M | 6.63M | 7.23M | 5.88M | 13.91M | 5.59M | 4.6M | 15.79M | 11.82M | 3.85M | 3.09M | 2.57M | 4.99M | 4.14M | 6.91M | 11.07M | 4.04M | 2.5M | 2.85M | 4.3M | 4.17M | 3.38M | 4.39M | 5.36M |
| Total Debt | 159K | 192K | 321K | 719K | 1.49M | 667K | 5.66M | 2.8M | 2.67M | 9.16M | 8.25M | 138K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26K | 114K | 0 |
| Net Debt | -2.51M | -2.69M | -3.02M | -864K | -341K | -5.23M | 3.95M | -3.26M | -4.43M | 5.29M | -516K | -5.5M | -3.11M | -4.36M | -2.53M | -40.02M | -14.34M | -7.12M | -17.52M | -37.67M | -11.12M | -9.17M | -31.71M | -22.01M | -26.21M | -47.36M |
| Debt / Equity | 0.03x | 0.04x | 0.09x | 0.18x | 0.10x | 0.02x | - | 0.61x | 0.37x | 1.25x | 0.54x | 0.00x | - | - | - | - | - | - | - | - | - | - | - | 0.00x | 0.00x | - |
| Debt / EBITDA | -0.02x | - | - | - | - | - | - | - | 0.98x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.03x | 0.01x | - |
| Net Debt / EBITDA | 0.38x | - | - | - | - | - | - | - | -1.62x | - | - | - | - | - | - | -3.53x | - | - | - | -19.86x | -8.25x | - | - | -25.21x | -2.15x | -8.55x |
| Interest Coverage | - | -4752.00x | -1037.20x | -1001.48x | -1557.69x | -5.40x | -3.87x | -1074.38x | -18.58x | -10.76x | -45.58x | - | - | - | - | - | - | - | - | -4.44x | - | - | - | - | - | - |
| Total Equity | 4.6M | 4.64M | 3.47M | 4.08M | 15.26M | 42.07M | -3.92M | 4.59M | 7.16M | 7.35M | 15.33M | 44.84M | 49.54M | 75.42M | 64.54M | 85.49M | 67.06M | 64.7M | 81.89M | 96.29M | 100.92M | 99.33M | 100.41M | 103.51M | 98.7M | 84.1M |
| Equity Growth % | 123.54% | 33.76% | -15.11% | -73.24% | -63.73% | 1172.92% | -185.49% | -35.91% | -2.57% | -52.07% | -65.82% | -9.49% | -34.31% | 16.85% | -24.51% | 27.49% | 3.64% | -20.99% | -14.96% | -4.58% | 1.59% | -1.07% | -3% | 4.88% | 17.35% | - |
| Book Value per Share | 0.40 | 0.66 | 1.15 | 6.32 | 30.36 | 286.72 | -36.97 | 9.29 | 371.97 | 800.87 | 1857.71 | 5740.02 | 8001.94 | 13336.52 | 12823.76 | 17737.14 | 14396.09 | 16573.00 | 20668.35 | 24079.02 | 25796.27 | 26030.40 | 26127.50 | 26719.41 | 25248.66 | 23704.62 |
| Total Shareholders' Equity | 4.6M | 4.64M | 3.47M | 4.08M | 15.26M | 42.07M | -3.92M | 4.59M | 7.16M | 7.35M | 15.33M | 44.84M | 49.54M | 75.42M | 64.54M | 85.49M | 67.06M | 64.7M | 81.89M | 96.29M | 100.92M | 99.33M | 100.41M | 103.51M | 98.7M | 84.1M |
| Common Stock | 11K | 9K | 3K | 1K | 14K | 12K | 5K | 137.92K | 43K | 8K | 7K | 655K | 498K | 489K | 401K | 384K | 372K | 312K | 317K | 319K | 316K | 308K | 303K | 307K | 302K | 295K |
| Retained Earnings | -184.37M | -181.87M | -177.12M | -166.39M | -149.6M | -117.2M | -106.29M | -96.06M | -235.87M | -224.69M | -214.02M | -181.97M | -150.49M | -117.81M | -93.01M | -65.4M | -76.66M | -53.59M | -33.11M | -14.69M | -6.17M | -834K | 2.15M | 4.05M | 1.55M | -10.82M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 1.19M | 0 | -25K | 0 | 0 | -17.58M | 0 | 0 | 0 | -16K | -10K | 13K | 11K | 1K | 4K | 41K | 280K | 35K | -79K | -389K | -252K | 56K | 116K | 16K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Critical liquidity and dilution
As reported in recent financial statements, Peraso's cash reserves have dwindled to $2.89 million as of 2025Q4, representing a precarious liquidity position that warrants close monitoring given the company's persistent operating losses and the absence of significant, reliable cash inflows from its core mmWave semiconductor business.
The current ratio of 4.14 in 2025Q4 appears artificially high due to the rapid contraction of liabilities rather than an accumulation of liquid assets. Investors should note that with such a thin cash cushion, the company faces an elevated risk of needing dilutive equity financing to maintain operations.
Based on the company's reported figures, total assets have declined from $10.7 million in 2023Q4 to $6.4 million in 2026Q1, reflecting a broader trend of balance sheet shrinkage that suggests the firm is struggling to scale its infrastructure and maintain its competitive footprint in the mmWave market.
This downward trajectory in total assets, coupled with the consistent erosion of retained earnings, indicates that the business is consuming its capital base to fund ongoing R&D. The lack of asset growth suggests that the company's strategic pivot has yet to yield the necessary scale to stabilize its financial position.
According to financial filings, Peraso's equity base has been severely impacted by accumulated deficits, with retained earnings reaching -$184.4 million in 2026Q1, a trend that underscores the long-term difficulty the company has faced in achieving a profitable return on its invested capital and intellectual property.
The persistent negative retained earnings highlight a structural inability to generate self-sustaining profits, forcing a reliance on external capital. This ongoing dilution risk remains a primary concern for shareholders as the company continues to burn through its remaining equity to support its high-cost technical operations.
As evidenced by the provided data, the rapid decline in deferred revenue from $555,000 in 2024Q3 to $102,000 in 2026Q1 suggests a potential weakening in forward-looking customer commitments, which may indicate that the company's future revenue pipeline is not as robust as management's strategic narrative might imply.
The volatility in deferred revenue is particularly concerning as it often serves as a leading indicator for future project-based billings. Investors should investigate whether this decline reflects a shift in customer contract structures or a genuine loss of momentum in securing new design wins for its 60GHz technology.
Quick answers to the most common questions about buying PRSO stock.
As of 2025, Peraso Inc. (PRSO) had total assets of $6.1M including $5.5M in current assets.
Peraso Inc. (PRSO) carries total debt of $0.2M, offset by $2.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Peraso Inc. (PRSO) has total shareholders' equity (book value) of $4.6M ($0.66 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Peraso Inc. (PRSO) reported a current ratio of 4.14x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.