Peraso confirms receipt of unsolicited acquisition proposal from Mobix

SAN JOSE - Peraso Inc. (NASDAQ:PRSO), currently valued at $6.1 million market capitalization, confirmed Friday it has received an unsolicited, non-binding acquisition proposal from Mobix Labs, Inc. at approximately $1.20 per share in Mobix common stock. According to InvestingPro data, the stock has shown strong momentum with significant returns over the past three months, despite trading at relatively low revenue multiples.

The mmWave wireless technology company disputed several claims made in Mobix’s June 26 press release, noting potential inaccuracies in financial information. Peraso clarified it reported net revenue of approximately $3.8 million for Q1 2025 and $14.2 million for fiscal year 2024. InvestingPro analysis shows the company achieved impressive revenue growth of 35.5% in the last twelve months, maintaining a healthy gross profit margin of 57%.

Peraso also corrected Mobix’s statement regarding Nasdaq listing requirements, stating it currently complies with all applicable continued listing standards. The company maintains compliance through the stockholders’ equity alternative, which requires maintaining stockholders’ equity of at least $2.5 million, rather than the $35 million market value requirement cited by Mobix.

The company’s board of directors is evaluating the proposal and other options to enhance stockholder value, according to the press release statement. No action is required by Peraso stockholders at this time. For investors following this developing situation, InvestingPro offers comprehensive M&A analysis tools and real-time financial metrics through its detailed Pro Research Reports, available for over 1,400 US stocks.

The proposal from Mobix offers a fixed exchange ratio based on the average daily closing price of Peraso’s common stock over the 30 calendar days ending June 11, 2025, plus a 20% premium.

Peraso stated it does not intend to provide further comments regarding potential transactions unless required by law, and noted there is no assurance any transaction will be completed with Mobix or any other party.

In other recent news, Peraso Inc. reported notable financial results for the first quarter of 2025, with revenue reaching $3.9 million, up from $3.7 million in the previous quarter and $2.8 million in the same period last year. The company experienced a GAAP net loss of $500,000, or $0.10 per share, although improvements in gross margin and product revenue have been observed. Millimeter wave product revenues notably surged to $1.5 million, reflecting strong growth in this segment. Peraso has also regained compliance with Nasdaq’s minimum bid price requirement, maintaining a closing bid price above the $1.00 threshold for ten consecutive trading days. Benchmark has reiterated its Buy rating and $3.00 price target for Peraso, citing strengthening adoption in fixed wireless applications. The company has begun shipments of its next-generation 60 GHz platform to a major military defense contractor, which Benchmark views as significant validation of Peraso’s technology. The military contract is expected to catalyze further expansion in the defense market and other high-growth verticals. Peraso’s position as a key player in this space is supported by a strong design win pipeline and expanding fixed wireless access deployment opportunities.

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