GSI Technology, Inc. Reports Third Quarter Fiscal 2025 Results
GSI Technology (GSIT) reported Q3 fiscal 2025 results with net revenues of $5.4 million, up 2% year-over-year and 19% sequentially. The company posted a gross margin of 54.0% and a net loss of $(4.0) million, or $(0.16) per diluted share.
Core SRAM sales are strengthening due to normalized inventory levels and increasing demand from a key customer in AI chip manufacturing. The company's Gemini-II chip development is progressing with expected tape-out in February and availability in May, aligned with Space Development Agency SBIR milestone.
For Q4 fiscal 2025, GSIT expects net revenues between $5.4-$6.2 million with gross margin of 55-57%. The company ended the quarter with $15.1 million in cash and cash equivalents and working capital of $17.9 million.
GSI Technology (GSIT) ha riportato i risultati del terzo trimestre fiscale 2025 con ricavi netti di 5,4 milioni di dollari, in aumento del 2% rispetto all'anno precedente e del 19% rispetto al trimestre precedente. L'azienda ha registrato un margine lordo del 54,0% e una perdita netta di $(4,0) milioni, pari a $(0,16) per azione diluita.
Le vendite di SRAM core stanno rafforzandosi grazie a livelli di inventario normalizzati e a una crescente domanda da parte di un cliente chiave nella produzione di chip AI. Lo sviluppo del chip Gemini-II dell'azienda sta procedendo con l'uscita prevista nel mese di febbraio e disponibilità a maggio, in linea con il traguardo SBIR dell'Agency Space Development.
Per il quarto trimestre fiscale 2025, GSIT prevede ricavi netti tra 5,4 e 6,2 milioni di dollari, con un margine lordo del 55-57%. L'azienda ha chiuso il trimestre con 15,1 milioni di dollari in cassa e equivalenti e un capitale circolante di 17,9 milioni di dollari.
GSI Technology (GSIT) informó los resultados del tercer trimestre fiscal 2025 con ingresos netos de 5.4 millones de dólares, un aumento del 2% en comparación con el año anterior y del 19% secuencialmente. La compañía reportó un margen bruto del 54.0% y una pérdida neta de $(4.0) millones, o $(0.16) por acción diluida.
Las ventas de SRAM core están fortaleciéndose debido a niveles de inventario normalizados y a una creciente demanda de un cliente clave en la fabricación de chips de IA. El desarrollo del chip Gemini-II de la empresa está avanzando con un tape-out esperado en febrero y disponibilidad en mayo, alineado con el hito SBIR de la Agencia de Desarrollo Espacial.
Para el cuarto trimestre fiscal 2025, GSIT espera ingresos netos entre 5.4 y 6.2 millones de dólares con un margen bruto del 55-57%. La compañía cerró el trimestre con 15.1 millones de dólares en efectivo y equivalentes y un capital de trabajo de 17.9 millones de dólares.
GSI Technology (GSIT)는 2025 회계연도 3분기 결과를 보고했습니다. 순수익은 540만 달러로, 전년 대비 2% 증가했으며, 전분기 대비 19% 증가했습니다. 회사는 54.0%의 총 마진과 $(4.0) 백만의 순손실 또는 희석주당 $(0.16)을 기록했습니다.
SRAM 핵심 판매는 재고 수준이 정상화되고 AI 칩 제조의 주요 고객으로부터의 수요 증가로 인해 강화되고 있습니다. 회사의 Gemini-II 칩 개발은 2월 테이프아웃이 예상되며 5월에 공급될 예정으로, 우주 개발 기관 SBIR 이정표와 일치합니다.
2025 회계연도 4분기 동안 GSIT는 순수익이 540만에서 620만 달러 사이일 것으로 예상하며, 총 마진은 55-57%입니다. 회사는 이번 분기를 1510만 달러의 현금 및 현금성 자산과 1790만 달러의 운영 자본으로 마감했습니다.
GSI Technology (GSIT) a annoncé les résultats du troisième trimestre de l'exercice 2025 avec des revenus nets de 5,4 millions de dollars, en hausse de 2 % par rapport à l'année précédente et de 19 % par rapport au trimestre précédent. L'entreprise a affiché une marge brute de 54,0 % et une perte nette de $(4,0) millions, soit $(0,16) par action diluée.
Les ventes de SRAM de base se renforcent grâce à des niveaux d'inventaire normalisés et à une demande croissante d'un client clé dans la fabrication de puces AI. Le développement du chip Gemini-II de l'entreprise progresse avec un tape-out prévu en février et une disponibilité en mai, conformément à l'étape SBIR de l'Agence de Développement Spatial.
Pour le quatrième trimestre de l'exercice 2025, GSIT s'attend à des revenus nets entre 5,4 et 6,2 millions de dollars avec une marge brute de 55 à 57 %. L'entreprise a terminé le trimestre avec 15,1 millions de dollars en espèces et équivalents de liquidités, ainsi qu'un fonds de roulement de 17,9 millions de dollars.
GSI Technology (GSIT) berichtete über die Ergebnisse des dritten Quartals des Geschäftsjahres 2025 mit einem Netto-Umsatz von 5,4 Millionen US-Dollar, was einem Anstieg von 2% im Vergleich zum Vorjahr und 19% im Vergleich zum Vorquartal entspricht. Das Unternehmen erzielte eine Bruttomarge von 54,0% und einen Nettoverlust von $(4,0) Millionen oder $(0,16) pro verwässerter Aktie.
Die Kernverkäufe von SRAM stärken sich aufgrund normalisierter Inventarbestände und einer zunehmenden Nachfrage eines wichtigen Kunden in der AI-Chip-Herstellung. Die Entwicklung des Gemini-II-Chips des Unternehmens schreitet voran, mit einem erwarteten Tape-Out im Februar und einer Verfügbarkeit im Mai, im Einklang mit dem SBIR-Meilenstein der Space Development Agency.
Für das vierte Quartal des Geschäftsjahres 2025 erwartet GSIT Netto-Umsätze zwischen 5,4 und 6,2 Millionen US-Dollar mit einer Bruttomarge von 55-57%. Das Unternehmen beendete das Quartal mit 15,1 Millionen US-Dollar in Barmitteln und Barmitteläquivalenten sowie einem working capital von 17,9 Millionen US-Dollar.
- Revenue increased 2% YoY and 19% QoQ to $5.4 million
- Gross margin improved significantly from 38.6% to 54.0% QoQ
- Operating expenses decreased to $7.0 million from $9.7 million YoY
- Net loss per share improved to $(0.16) from $(0.26) YoY
- Positive Q4 guidance with expected revenue growth to $5.4-$6.2 million
- Net loss of $(4.0) million in Q3
- Year-to-date revenues declined to $14.6 million from $16.6 million
- Working capital decreased to $17.9 million from $19.1 million since March 2024
- Stockholders' equity declined to $29.9 million from $36.0 million since March 2024
Insights
GSI Technology's Q3 results reveal a complex narrative of transformation and challenges. The 19% sequential revenue growth to
The SRAM business revival is particularly noteworthy, driven by normalized inventory levels and increased demand from AI chip manufacturing customers. This positions GSI strategically within the AI supply chain infrastructure, though the reduced R&D spending (
Financial health indicators warrant attention: The cash position of
The upcoming Gemini-II chip development and Plato's focus on edge AI present potential catalysts, but the path to commercialization and market acceptance remains uncertain. The company's evaluation of "strategic alternatives" suggests possible corporate actions that could reshape its trajectory.
The Q4 guidance of
SUNNYVALE, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- GSI Technology, Inc. (NASDAQ: GSIT) today reported financial results for its third fiscal quarter ended December 31, 2024.
Summary Financial Results Table (in thousands, except per share amounts)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
| Dec. 31, 2024 | Sept. 30, 2024 | Dec. 31, 2023 | Dec. 31, 2024 | Dec. 31, 2023 | |||||||||||||||
| Net revenues | $ | 5,414 | $ | 4,550 | $ | 5,318 | $ | 14,635 | $ | 16,613 | |||||||||
| Gross margin (%) | 54.0 | % | 38.6 | % | 55.9 | % | 46.7 | % | 55.2 | % | |||||||||
| Operating expenses | $ | 6,978 | $ | 7,341 | $ | 9,660 | $ | 15,400 | $ | 25,082 | |||||||||
| Operating loss | $ | (4,055 | ) | $ | (5,584 | ) | $ | (6,685 | ) | $ | (8,559 | ) | $ | (15,917 | ) | ||||
| Net loss | $ | (4,029 | ) | $ | (5,458 | ) | $ | (6,601 | ) | $ | (8,409 | ) | $ | (15,766 | ) | ||||
| Net loss per share, diluted | $ | (0.16 | ) | $ | (0.21 | ) | $ | (0.26 | ) | $ | (0.33 | ) | $ | (0.63 | ) | ||||
Lee-Lean Shu, Chairman and Chief Executive Officer, stated, "In the third quarter, revenue reached
Mr. Shu concluded, "The development of our APU technology is progressing steadily. The Gemini-II chip is on track for a February tape-out with availability in May, aligning with a milestone with the Space Development Agency SBIR. The latest version of Gemini-II takes AI to the next level by combining advanced neural networks with cutting-edge radar imaging technology, like Synthetic Aperture Radar (SAR), designed to tackle important challenges in defense and aerospace. We can leverage Gemini-II’s architecture to accelerate the development of Plato, our next-generation chip, with a cost-effective, faster-to-market strategy. Plato’s ultra-low-power design will target rapidly growing markets for edge AI and large language model solutions. Additionally, increased operational efficiency and SRAM sales improvement position us for stability as we continue to evaluate strategic alternatives."
Commenting on the outlook for GSI's fourth quarter of fiscal 2025, Mr. Shu stated, "Our current expectations for the upcoming fourth quarter is for net revenues in a range of
Third Quarter Fiscal Year 2025 Summary Financials
The Company reported net revenues of
In the third quarter of fiscal 2025, sales to Nokia were
Total operating expenses in the third quarter of fiscal 2025 were
Third quarter fiscal 2025 operating loss was
Net loss in the third quarter of fiscal 2025 was
Total third quarter pre-tax stock-based compensation expense was
At December 31, 2024, the Company had
Conference Call
Management will conduct a conference call to review the Company's financial results for the third quarter of fiscal year 2025 and its current outlook for the fourth quarter of fiscal 2025 at 1:30 p.m. Pacific time (4:30 p.m. Eastern Time) today.
To participate in the call, please dial 1-877-407-3982 in the U.S. or 1-201-493-6780 for international approximately 10 minutes prior to the above start time and provide Conference ID 13751185. The call will also be streamed live via the internet at www.gsitechnology.com.
A replay will be available from January 30, 2025, at 7:30 p.m. Eastern Time through February 6, 2025, at 11:59 p.m. Eastern Time by dialing toll-free for the U.S. 1-844-512-2921 or international 1-412-317-6671 and entering pin number 13751185. A webcast of the call will be archived on the Company’s investor relations website under the Events and Presentations tab.
About GSI Technology
Founded in 1995, GSI Technology, Inc. is a leading provider of semiconductor memory solutions. GSI's resources are focused on bringing new products to market that leverage existing core strengths, including radiation-hardened memory products for extreme environments and Gemini-I, the associative processing unit designed to deliver performance advantages for diverse artificial intelligence applications. GSI Technology is headquartered in Sunnyvale, California, and has sales offices in the Americas, Europe, and Asia. For more information, please visit www.gsitechnology.com.
Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding GSI Technology’s expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements included in this press release are based upon information available to GSI Technology as of the date hereof, and GSI Technology assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a variety of risks and uncertainties, which could cause actual results to differ materially from those projected. These risks include those associated with the normal quarterly and fiscal year-end closing process. Examples of risks that could affect our current expectations regarding future revenues and gross margins include those associated with fluctuations in GSI Technology’s operating results; GSI Technology’s historical dependence on sales to a limited number of customers and fluctuations in the mix of customers and products in any period; global public health crises that reduce economic activity; the rapidly evolving markets for GSI Technology’s products and uncertainty regarding the development of these markets; the need to develop and introduce new products to offset the historical decline in the average unit selling price of GSI Technology’s products; the challenges of rapid growth followed by periods of contraction; intensive competition; delays or unanticipated costs that may be encountered in the development of new products based on our in-place associative computing technology and the establishment of new markets and customer and partner relationships for the sale of such products; and delays or unexpected challenges related to the establishment of customer relationships and orders for GSI Technology’s radiation-hardened and tolerant SRAM products. Many of these risks are currently amplified by and will continue to be amplified by, or in the future may be amplified by, economic and geopolitical conditions, such as changing interest rates, worldwide inflationary pressures, military conflicts and declines in the global economic environment. Further information regarding these and other risks relating to GSI Technology’s business is contained in the Company’s filings with the Securities and Exchange Commission, including those factors discussed under the caption “Risk Factors” in such filings.
Source: GSI Technology, Inc.
Contacts:
Investor Relations:
Hayden IR
Kim Rogers
385-831-7337
kim@haydenir.com
Media Relations:
Finn Partners for GSI Technology
Ricca Silverio
415-348-2724
gsi@finnpartners.com
Company:
GSI Technology, Inc.
Douglas M. Schirle
Chief Financial Officer
408-331-9802
| GSI TECHNOLOGY, INC. | ||||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||
| Dec. 31, | Sept. 30, | Dec. 31, | Dec. 31, | Dec. 31, | ||||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||
| Net revenues | $ | 5,414 | $ | 4,550 | $ | 5,318 | $ | 14,635 | $ | 16,613 | ||||||||||||
| Cost of goods sold | 2,491 | 2,793 | 2,343 | 7,794 | 7,448 | |||||||||||||||||
| Gross profit | 2,923 | 1,757 | 2,975 | 6,841 | 9,165 | |||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||
| Research & development | 4,037 | 4,788 | 6,976 | 13,039 | 16,871 | |||||||||||||||||
| Selling, general and administrative | 2,997 | 2,553 | 2,684 | 8,154 | 8,211 | |||||||||||||||||
| Gain from sale of assets | (56 | ) | - | - | (5,793 | ) | - | |||||||||||||||
| Total operating expenses | 6,978 | 7,341 | 9,660 | 15,400 | 25,082 | |||||||||||||||||
| Operating loss | (4,055 | ) | (5,584 | ) | (6,685 | ) | (8,559 | ) | (15,917 | ) | ||||||||||||
| Interest and other income, net | 70 | 149 | 155 | 274 | 306 | |||||||||||||||||
| Loss before income taxes | (3,985 | ) | (5,435 | ) | (6,530 | ) | (8,285 | ) | (15,611 | ) | ||||||||||||
| Provision for income taxes | 44 | 23 | 71 | 124 | 155 | |||||||||||||||||
| Net loss | $ | (4,029 | ) | $ | (5,458 | ) | $ | (6,601 | ) | $ | (8,409 | ) | $ | (15,766 | ) | |||||||
| Net loss per share, basic | $ | (0.16 | ) | $ | (0.21 | ) | $ | (0.26 | ) | $ | (0.33 | ) | $ | (0.63 | ) | |||||||
| Net loss per share, diluted | $ | (0.16 | ) | $ | (0.21 | ) | $ | (0.26 | ) | $ | (0.33 | ) | $ | (0.63 | ) | |||||||
| Weighted-average shares used in | ||||||||||||||||||||||
| computing per share amounts: | ||||||||||||||||||||||
| Basic | 25,546 | 25,467 | 25,256 | 25,463 | 25,094 | |||||||||||||||||
| Diluted | 25,546 | 25,467 | 25,256 | 25,463 | 25,094 | |||||||||||||||||
| Stock-based compensation included in the Condensed Consolidated Statements of Operations: | ||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||
| Dec. 31, | Sept. 30, | Dec. 31, | Dec. 31, | Dec. 31, | ||||||||||||||||||
| 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||
| Cost of goods sold | $ | 50 | $ | 51 | $ | 51 | $ | 157 | $ | 175 | ||||||||||||
| Research & development | 121 | 336 | 325 | 747 | 1,080 | |||||||||||||||||
| Selling, general and administrative | 258 | 276 | 273 | 846 | 890 | |||||||||||||||||
| $ | 429 | $ | 663 | $ | 649 | $ | 1,750 | $ | 2,145 | |||||||||||||
| GSI TECHNOLOGY, INC. | ||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
| (in thousands) | ||||||
| (Unaudited) | ||||||
| Dec. 31, 2024 | March 31, 2024 | |||||
| Cash and cash equivalents | $ | 15,085 | $ | 14,429 | ||
| Accounts receivable | 3,583 | 3,118 | ||||
| Inventory | 3,885 | 4,977 | ||||
| Other current assets | 1,267 | 1,954 | ||||
| Assets held for sale | - | 5,629 | ||||
| Net property and equipment | 883 | 1,148 | ||||
| Operating lease right-of-use assets | 9,858 | 1,553 | ||||
| Other assets | 9,572 | 9,656 | ||||
| Total assets | $ | 44,133 | $ | 42,464 | ||
| Current liabilities | $ | 5,900 | $ | 5,365 | ||
| Long-term liabilities | 8,300 | 1,129 | ||||
| Stockholders' equity | 29,933 | 35,970 | ||||
| Total liabilities and stockholders' equity | $ | 44,133 | $ | 42,464 | ||
FAQ
What were GSIT's Q3 fiscal 2025 revenue and earnings results?
What is GSIT's revenue guidance for Q4 fiscal 2025?
When will GSIT's Gemini-II chip be available?
How much cash does GSIT have as of December 31, 2024?
What was GSIT's gross margin in Q3 fiscal 2025?
