Operator

Good afternoon, and welcome to Peraso Inc.'s First Quarter 2026 Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded today, Monday, May 11, 2026.

I would now like to turn the call over to your host for today's conference call, Mr. Jim Sullivan. Please go ahead.

James Sullivan
Chief Financial Officer & Secretary

Good afternoon, and thank you for joining today's conference call to discuss Peraso's first quarter 2026 financial results. I'm Jim Sullivan, CFO of Peraso, and joining me today is Ron Glibbery, our CEO. Today, after the market closed, we issued a press release and related Form 8-K, which was filed with the Securities and Exchange Commission. The press release and Form 8-K are available on Peraso's website at www.perasoinc.com under the Investor Relations section. There is also a slide presentation that we will be using in conjunction with today's call that may be accessed through the webcast link on the Investor Relations website.

As a reminder, comments made during today's conference call may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All statements other than statements of historical fact could be deemed as forward-looking. Peraso advises caution in reliance on forward-looking statements.

These statements include, without limitation, any projections of revenue, margins, expenses, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, adjusted EBITDA, non-GAAP net loss, cash flows or other financial items, including anticipated cost savings as well as any statements concerning the expected development, performance and market share