Peraso Inc. (NASDAQ: PRSO) a San Jose, California developer of 60 GHz millimetre-wave (mmWave) wireless chips and modules, jumped Tuesday after receiving a production order valued at more than $2.0M from an unnamed "leading network equipment manufacturer." The order is for fixed wireless access (FWA) systems, which deliver broadband over short-range radio links instead of fibre, using Peraso's 60 GHz technology, and is its largest 60 GHz production order in the last six quarters.
Shipments are scheduled to begin in the fourth quarter of 2026 and continue through July 2027. For perspective, Peraso reported second-quarter revenue of $1.3M, up from $1.0M in the first quarter of 2026, alongside a GAAP net loss of $2.2M. The company notes in its risk disclosures that customers can cancel, reduce or reschedule orders, in some cases without penalty.
Next primary catalysts include Peraso's third-quarter 2026 financial results and the start of shipments under the order in the fourth quarter.
Shares of PRSO rose 39.4% to US$0.535 on volume of 145 million shares.
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