on we've the Thank you, webcast. current quarter phone joining the everyone a you progress few and with last key comments fourth Jim. Good afternoon, get us. call. since been outlook. and on into and more conference want I'll We and start I welcome our detail the Then making our and brief to on to that developments management appreciate
schedules. and order products inventory our memory lower expectations, backlog increased to impact our was customer the to of shipment In IC prior revenue with contributed mmWave Separately, our reflected fourth sequentially, the due correction. revenue while industry-wide the the for headwinds production lower of our in quarter. Consistent multiple for continued timing business, quarter the demand total
key also ending the are growth year. X growth XX These Since new to March the these full year, of expectations both and expect growth beginning based the in current anticipate begun headwinds have to We for revenue of upon double-digit moderate. quarter the resume drivers.
order total fixed for from of second, prolonged wireless overall backlog access largest for wireless First products we new receiving our memory applications, we've million IC customer is Based and demand, of fixed our correction mmWave the begun inventory our believe customer. targeting in recently and products; this return is initial orders including orders the $XX on clearing.
I XXXX, required initial provide the IC end from largely these purchase on orders Since to we've last fourth X. the time inventory. fulfilled our Slide planned $XX in $X.X of a memory We've end-of-life quarter, to want in in total, the we of lead for slowed our orders partners shipments were totaling May fabricate million. notifying second the received Turning update our of buys the additional for half to the orders shipments primarily which current life against In foundry brief of million. completed of commenced memory these third XXXX, of quarter the approximately wafers products. times of by manufacturing backlog due memory in XXXX, existing end-of-life Shipments to against products. customers
end-of-life backlog $XX.X approximately million. order remaining As of had of year-end, we
of memory products XX and -- $X.X combined on at also partner, backlog orders. for million months. to of expect again regular schedules the in IC backlog the additional our Based We of ramp foundry the remaining first we majority manufacturing shipments fulfill an production current over quarter, expect the our next to we had quarter fourth
anticipate conference revenue for XXXX. contribute cash collective As memory call, orders last discussed and shipments significant these throughout end-of-life flow previously to IC on products our and we
X Slide an update to on our mmWave and Flipping business.
out key terms more mmWave small we One number and base continues North expand market end technology. be reach of and served a strategic fixed our a relatively diversified of customers, as in initiatives for geographies in wireless in applications. larger of our XXXX, Peraso's customer set to to market historically customers Having America, building
funnel engagement tangible of to active drive results team's Our are new to contributing ongoing steady of a efforts and opportunities number expanded continuing engagements.
we've Over from -- XX. X increased roughly to or October, active to the engagements since past XX months XX
we believe an hardware active opportunities positioned as of evaluation we Today, transition put market. update. to both our have highest funnel last the are quality to compared projected in more time continue prioritizing engagements anticipated existing engagements and to on to with We quarterly economic emphasis and terms
expanded indicator measure to our last as with now active view applications our in one America. update, quarterly progress to to North current our a a they and Consistent customers larger of engagements engagement leading we diversified targeted the towards related reach past, more that with compared our continue With comprise highlight business. prospective additional mind, and a of outside number pipeline
access value manufacturers across X. our to of to believe solutions as the gigahertz directly XX resonate of Turning Slide wireless an continuing fixed expanding for equipment We number as mmWave well is proposition that of internet enabled side fixed wireless left identified providers. with the only the slide XX gigahertz deployments we've Peraso's with hardware. The WISP WISPs, of reflects by wire or a service sample
the number is our ultimate visibility The deployments of we WISPs with technology because regards end to track the to total customers. don't utilizing have difficult
to way the market solutions. look traction gigahertz mmWave Another we're at with getting our XX
with the is access hardware. manufacturing side of fixed WISPs commercial the On powered list of products by Peraso a slide equipment right wireless
I applications in our point primarily they that Keeping In targeting North addition that were solutions to really market America, each of are a well. as fixed of tracks and collectively, our rural urban mix them want their mmWave having wireless mind in into applications in highlights rural using urban for to applications. multiple expansion accelerating early out this technology, products market
the are we geographies many urban of of seeing deployments targeting increasingly America. Additionally, outside North
the to urban what is expanded It's market Slide X. part at looking of opportunity in applications. understand driving important Now
between challenges are for proposition and is rural of mmWave there for in connectivity ubiquitous. encountered shared fixed urban a solving Demand dense offers series Although and urban unique Internet applications, needs wireless a value challenges environments.
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that core Leveraging newest Peraso advantages of provides dense inherent technology solution to urban targeting efficiency, WISPs with which, PRMXXXXX the the connectivity the phase for achieving environments. reliable provides a gain element solutions, narrow modules, power ideal our urban deployments mmWave, array series coupled in antenna addition mmWave it bandwidth prospective a of environments. dense these high proven incorporates make our excellent the in At XXX and to
specifically on announced X. Now for positive WISPs Peraso access. fixed feedback environments, for platform software WISP our Building following to wireless provides introduction commercial the of the with Designed we Slide turnkey platform urban turn hardware solution. this cost-effective and dense initial a of January, I'll from PRMXXXXX, in DUNE availability integrated the
overlapping balancing, employs networks. management Peraso's full multi-gigabit addition of network suite to a enable isolation coexisting connectivity adaptive to capabilities, and In platform DUNE load including dynamic traffic comprising
these introduction feature was This the first-hand successful in challenges value We multiple with environments. platform service environments. win and important first deployments result a specific the recently absolutely understand announced of they dense commercial third-party utilizing proof-of-concept of engagements platform to our critical is is urban with this have the dialogue in of deployment for we additional which commenced face numerous operators solution, The providers.
Defense. X. briefly Slide on I Aerospace & to touch want Shifting to
we Although for applications. in technology market end mmWave expanded to military still Peraso, for new various continue our relatively see defense a opportunities
focus technology it communication unique latency advanced sensitive multi-gigabit as to using well detect makes capability for this or Unlike other more beams. intercept addition in to our and forming utilize uniquely bands, to support unlicensed In difficult ability connectivity as traditional directional low frequency with technology, antenna communications. wireless data narrow mmWave's unused integrated even allows beam
engagement evaluation and conference This proof is a previous progressing customer call, On engagement in to phase. in in be continues of the our mentioned area having of commercial well our secured the initial this first I form concept. customer-funded
months, in several additional defense we applications. Over solutions new the sourced mmWave for last our have opportunities
to conservative near-term any and expectations have these with We contribution respect opportunities. material from
However, represents they incremental that an market future serve applications defense evidence as opportunity.
well we're wireless the for an diverse In for market fixed customer pipeline mmWave company's as demand very outlook as about indications and XXXX. initial customer optimistic expanding engagement closing, base with for applications solutions renewed access, across increasingly of our
grow As and coming a base strategic opportunity large believe from to we continue we there's mmWave efforts over our to our quarters execute the to realize customer on products, growth the beyond.
of With quarter financials well as revenue as the that, year quarter back and the first fourth to the to our full for expectation turn review I'll call XXXX. Jim
