Peraso Estimates Total Revenue Of $1.6M-$1.9M For Q4 (Est. $3.2M), $13.6M-$13.8M For FY23 (Est. $15.12M)
Portfolio Pulse from Benzinga Newsdesk
Peraso Technologies Inc. reported estimated Q4 revenue of $1.6M-$1.9M, below the expected $3.2M, and FY23 revenue of $13.6M-$13.8M, under the $15.12M estimate. The company's cash position improved by $0.9M in Q4 due to proceeds from the end-of-life of its memory products.
January 24, 2024 | 10:35 pm
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NEGATIVE IMPACT
Peraso's Q4 and FY23 revenue estimates are significantly below expectations, which could negatively impact investor sentiment and stock price in the short term.
Revenue misses are typically seen as negative indicators of a company's performance, leading to potential declines in stock price as investor confidence may wane. The increase in cash position might provide some cushion, but the miss on revenue estimates is likely to be the dominating factor in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100