Peraso Inc. $(PRSO)$, a leader in mmWave wireless technology solutions, reported its financial results for the second quarter ending June 30, 2025. The company announced total net revenue of $2.2 million, a decrease from $3.9 million in the prior quarter and $4.2 million in the same period last year. This decline was primarily due to the completion of end-of-life shipments of memory IC products, partially offset by increased mmWave product shipments, which grew 45% sequentially and over 200% year-over-year. The GAAP gross margin for the quarter was 48.3%, down from 69.3% in the previous quarter and 55.5% in the same quarter of 2024, attributed to a revenue mix focused entirely on mmWave products. Peraso reported a GAAP net loss of $1.8 million, or ($0.31) per share, compared with a net loss of $0.5 million in the previous quarter and $4.4 million in the second quarter of 2024. The company has highlighted its progress through significant milestones, including surpassing two million cumulative shipments of its mmWave devices and securing a key partnership with Tachyon Networks for a 60 GHz fixed wireless solution. Additionally, Peraso expanded its market reach by shipping products for an educational wireless video system and delivering advanced solutions for tactical communications in defense applications. Looking ahead, Peraso anticipates total net revenue for the third quarter of 2025 to range between $2.8 million and $3.1 million, driven by continued demand for its mmWave solutions and an expanding customer base. The company remains focused on disciplined expense management and record revenue contribution from its mmWave products.