$PRSO
Peraso Inc.

2018 Q4 Form 10-Q Financial Statement

#000156459018027325 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $3.450M $4.343M $2.453M
YoY Change -8.97% 77.05% 56.24%
Cost Of Revenue $960.0K $1.948M $1.260M
YoY Change -54.29% 54.6% 90.91%
Gross Profit $2.490M $2.395M $1.200M
YoY Change 47.34% 99.58% 30.43%
Gross Profit Margin 72.17% 55.15% 48.92%
Selling, General & Admin $940.0K $919.0K $1.244M
YoY Change -9.62% -26.13% -14.21%
% of Gross Profit 37.75% 38.37% 103.67%
Research & Development $1.070M $1.023M $1.440M
YoY Change 16.3% -28.96% -63.36%
% of Gross Profit 42.97% 42.71% 120.0%
Depreciation & Amortization $140.0K $170.0K $200.0K
YoY Change -33.33% -15.0% -25.93%
% of Gross Profit 5.62% 7.1% 16.67%
Operating Expenses $2.000M $5.101M $2.730M
YoY Change 1.52% 86.85% -49.26%
Operating Profit $490.0K -$2.706M -$1.533M
YoY Change -275.0% 76.52% -65.63%
Interest Expense -$50.00K $104.0K $238.0K
YoY Change -79.17% -56.3% -208.18%
% of Operating Profit -10.2%
Other Income/Expense, Net $10.00K $0.00 $32.00K
YoY Change 0.0% -100.0%
Pretax Income -$9.250M -$2.810M -$1.739M
YoY Change 1085.9% 61.59% -62.84%
Income Tax $10.00K $2.000K $4.000K
% Of Pretax Income
Net Earnings -$9.260M -$2.812M -$1.743M
YoY Change 1647.17% 61.33% -62.91%
Net Earnings / Revenue -268.41% -64.75% -71.06%
Basic Earnings Per Share
Diluted Earnings Per Share -$5.00 -$6.85 -$4.34
COMMON SHARES
Basic Shares Outstanding 41.64M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.100M $4.200M $2.800M
YoY Change 82.05% 50.0% -78.13%
Cash & Equivalents $7.104M $4.176M $2.784M
Short-Term Investments $0.00
Other Short-Term Assets $900.0K $400.0K $1.800M
YoY Change -30.77% -77.78% 200.0%
Inventory $1.148M $1.371M $1.200M
Prepaid Expenses
Receivables $1.622M $2.503M $1.700M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.80M $8.465M $7.600M
YoY Change 24.65% 11.38% -50.65%
LONG-TERM ASSETS
Property, Plant & Equipment $279.0K $386.0K $700.0K
YoY Change -66.26% -44.86% -53.33%
Goodwill $420.0K $10.12M
YoY Change -96.84%
Intangibles $28.00K
YoY Change
Long-Term Investments
YoY Change
Other Assets $260.0K $413.0K $100.0K
YoY Change -1.14% 313.0% -75.0%
Total Long-Term Assets $959.0K $10.94M $14.20M
YoY Change -93.38% -22.93% -43.2%
TOTAL ASSETS
Total Short-Term Assets $10.80M $8.465M $7.600M
Total Long-Term Assets $959.0K $10.94M $14.20M
Total Assets $11.76M $19.41M $21.80M
YoY Change -49.19% -10.97% -46.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $236.0K $140.0K $200.0K
YoY Change 38.82% -30.0% -33.33%
Accrued Expenses $1.402M $1.835M $2.100M
YoY Change -44.08% -12.62% -4.55%
Deferred Revenue $273.0K
YoY Change -93.07%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.100M
YoY Change
Total Short-Term Liabilities $1.911M $3.540M $13.80M
YoY Change -71.11% -74.35% 452.0%
LONG-TERM LIABILITIES
Long-Term Debt $2.700M $10.00M $0.00
YoY Change -70.65% -100.0%
Other Long-Term Liabilities $0.00 $0.00 $300.0K
YoY Change -100.0% 50.0%
Total Long-Term Liabilities $2.700M $10.00M $300.0K
YoY Change -70.65% 3233.33% -96.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.911M $3.540M $13.80M
Total Long-Term Liabilities $2.700M $10.00M $300.0K
Total Liabilities $4.599M $13.59M $14.10M
YoY Change -70.88% -3.59% 29.36%
SHAREHOLDERS EQUITY
Retained Earnings -$235.9M -$226.6M
YoY Change 4.98%
Common Stock $243.0M $232.4M
YoY Change 4.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.157M $5.815M $7.700M
YoY Change
Total Liabilities & Shareholders Equity $11.76M $19.41M $21.80M
YoY Change -49.19% -10.97% -46.04%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$9.260M -$2.812M -$1.743M
YoY Change 1647.17% 61.33% -62.91%
Depreciation, Depletion And Amortization $140.0K $170.0K $200.0K
YoY Change -33.33% -15.0% -25.93%
Cash From Operating Activities -$70.00K $610.0K -$1.960M
YoY Change -105.07% -131.12% -49.22%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $20.00K $30.00K
YoY Change -100.0% -33.33% -25.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $10.00K
YoY Change -100.0% -99.64%
Cash From Investing Activities $0.00 -$20.00K -$10.00K
YoY Change -100.0% 100.0% -100.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.987B
YoY Change 1241775.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.010M -10.00K 2.010M
YoY Change -15150.0% -100.5% 1446.15%
NET CHANGE
Cash From Operating Activities -70.00K 610.0K -1.960M
Cash From Investing Activities 0.000 -20.00K -10.00K
Cash From Financing Activities 3.010M -10.00K 2.010M
Net Change In Cash 2.940M 580.0K 40.00K
YoY Change 172.22% 1350.0% -104.12%
FREE CASH FLOW
Cash From Operating Activities -$70.00K $610.0K -$1.960M
Capital Expenditures $0.00 $20.00K $30.00K
Free Cash Flow -$70.00K $590.0K -$1.990M
YoY Change -106.31% -129.65% -48.97%

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<div> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:10pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:3.71%;">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses recognized during the reported period. Actual results could differ from those estimates.</p></div>
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CY2018Q3 us-gaap Allowance For Doubtful Accounts Receivable
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0
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2018Q3 us-gaap Inventory Write Down
InventoryWriteDown
100000
CY2017Q3 us-gaap Inventory Write Down
InventoryWriteDown
0
us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
The Company sells its products both directly to customers and through distributors generally under agreements with payment terms typically less than 60 days
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
3100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3735000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2317000
CY2018Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
4176000
CY2018Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2018Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2018Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2018Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2018Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
897000
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1612000
CY2018Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
474000
CY2017Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
154000
CY2018Q2 us-gaap Payments For Commissions
PaymentsForCommissions
450000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2018Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
86000
CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
86000

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