Peraso Inc. (NASDAQ:PRSO) Q4 2022 Earnings Call Transcript

Jim Sullivan: There was some benefit in the fourth quarter. I think as I mentioned in responding to David, we on the mmWave side had judiciously been using consultants to provide flexibility because, obviously, there €“ when the project is done or you can turn them on, turn them off easier than having full-time equivalent employees. So, we had begun some of those reductions and kind of tightening the belt in the fourth quarter, but we really continued it kind of into the first and then made some employee reductions kind of in February, but there was some contribution. I expect that, obviously, the first quarter will have some €“ we should be kind of obviously down versus fourth quarter subject to the mix and timing, you get some things like the audit, those fees hit in the first quarter, employment taxes in the U.S. turned back on, etcetera, but certainly looking to be flat to down quarter-over-quarter on a non-GAAP basis.

Kevin Liu: Alright. That’s all for the time being. I really appreciate you taking questions and good luck.

Ron Glibbery: Thanks a lot Kevin.

Jim Sullivan: Thank you, Kevin.

Operator: We have reached the end of the question-and-answer session, and I will now turn the call over to management for closing remarks.

Ron Glibbery: I think that’s about it for today.

Jim Sullivan: Thank you everyone for joining. We appreciate your €“ thank you. Goodbye.

Ron Glibbery: Thank you. Bye-bye.

Operator: This concludes today’s conference and you may disconnect your lines at this time. Thank you for your participation.