In one embodiment, a matrix-vector multiplication (MVM) component generates a product vector based on (i) an input matrix and (ii) an input vector. The MVM component has a permuter, memory, and an XOR gate array. The permuter permutates, for each input sub-vector of the input vector, the input sub-vector based on a set of permutation coefficients to generate a set of permuted input sub-vectors. The memory stores a set of intermediate product sub-vectors corresponding to the product vector. The XOR gate array performs, for each input sub-vector, exclusive disjunction on (i) the set of permuted input sub-vectors and (ii) the set of intermediate product sub-vectors to update the set of intermediate product subvectors, such that all of the intermediate product sub-vectors in the set are updated based on a current input sub-vector before updating any of the intermediate product sub-vectors in the set based on a subsequent input sub-vector.