Peraso Inc. (NASDAQ:PRSO) began Thursday trading on a downhill slide. The San Jose-based company, a leading provider of mmWave wireless technology for fixed wireless access, today announced a $1.4 million follow-on purchase order from a prominent South African wireless Internet service provider. This order for Peraso’s innovative mmWave equipment builds on an initial production order secured and shipped in the second quarter of 2024.
“We believe this repeat order is a testament to the performance and reliability of our mmWave technology in addressing the critical connectivity needs of underserved communities and that it further validates the strong and growing demand for Peraso’s solutions in dense urban markets,” said CEO Ron Glibbery. “We are proud to partner with WISPs in South Africa and worldwide with the goal of delivering high-quality internet access that empowers individuals and businesses alike.”
Peraso’s mmWave technology operates in the unlicensed 60 GHz band and offers superior performance in dense urban environments, where traditional 5 GHz/6 GHz licensed devices can struggle with interference and congestion. This advantage is particularly crucial in South Africa, where reliable connectivity is essential for economic growth and social development. Furthermore, Peraso’s low-power consumption technology provides significant benefits in a market heavily reliant on battery backup systems due to frequent power outages.
PRSO shares lost five cents, or 2.7%, Thursday to $1.80.