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SAN JOSE - Peraso Inc. (NASDAQ:PRSO), a developer of mmWave wireless technology solutions with a market capitalization of $5.13 million, reported Tuesday that potential acquirer Mobix Labs has declined to sign a standard confidentiality agreement as part of the company’s ongoing strategic review process. According to InvestingPro data, the company currently trades at a low revenue multiple and appears undervalued based on Fair Value analysis, potentially making it an attractive acquisition target.
The company, which announced on July 11 that its board had authorized exploration of strategic alternatives including a potential merger or sale, said Mobix declined to receive material non-public information and instead requested direct engagement with Peraso’s board. InvestingPro analysis reveals that while Peraso holds more cash than debt on its balance sheet and maintains a healthy current ratio of 2.03, the company has been quickly burning through its cash reserves.
Mobix had previously submitted an unsolicited non-binding proposal to Peraso, which was disclosed on June 27. Following this proposal, Peraso invited interested parties, including Mobix, to participate in its strategic review process under standard confidentiality terms.
Peraso stated it "continues to believe that its process must be conducted in a manner that ensures all interested parties are treated fairly and consistently, and that confidential information is appropriately safeguarded."
The company noted that in potential transactions involving stock consideration, such as Mobix’s proposal, a confidentiality agreement would allow Peraso to receive material non-public information about the bidder to evaluate the proposal’s merits.
Peraso has retained Craig-Hallum Capital Group LLC as its financial advisor for the strategic review process. The company emphasized it remains open to engaging with Mobix and other parties provided they agree to appropriate confidentiality protections.
The company cautioned there is no assurance the strategic review will result in a transaction or other strategic alternative. According to the press release statement, Peraso does not intend to provide further updates unless its board approves a specific course of action or determines disclosure is necessary. Notably, InvestingPro data shows analyst consensus remains bullish on the stock, with price targets significantly above current trading levels. For deeper insights into Peraso’s financial health and valuation metrics, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Peraso Inc. reported a decline in net revenue for the second quarter of 2025, dropping to $2.2 million from $3.9 million in the previous quarter. Despite this revenue decrease, the company expressed optimism, projecting record quarterly revenue for the third quarter of 2025, estimated to be between $2.8 million and $3.1 million. Benchmark has maintained its Speculative Buy rating on Peraso, setting a price target of $3.00. The research firm highlighted Peraso’s ongoing progress in developing millimeter wave solutions and noted the company’s expansion into new customer engagements and adjacent markets. These developments have been pivotal in retaining investor interest and maintaining a positive outlook for the company.
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