Welcome to our dedicated page for Gsi Technology news (Ticker: GSIT), a resource for investors and traders seeking the latest updates and insights on Gsi Technology stock.
GSI Technology, Inc. (NASDAQ: GSIT) is a leading provider of high-performance semiconductor memory solutions, founded in 1995 and headquartered in Sunnyvale, California. The company specializes in static random access memory (SRAM) products, which are primarily used in networking and telecommunications equipment, such as routers, switches, and wireless base stations. GSI Technology’s products are also vital for military, aerospace, industrial, and automotive markets.
Core Business: GSI Technology is renowned for its development and marketing of Very Fast SRAM, which supports performance-critical operations. The company’s products are incorporated into a range of equipment from original equipment manufacturers (OEMs), such as Nokia, and serve various markets including military and defense, industrial, and medical sectors. GSI Technology operates globally, with locations in China, Singapore, the Netherlands, Germany, and the United States.
Recent Achievements: In recent months, GSI Technology has successfully launched the alpha version of its Copperhead compiler suite, a Python-based tool designed to harness the capabilities of its Gemini APU. The company has also completed the tape-out for Gemini-II, with sampling expected in the second half of 2024. Financially, GSI Technology reported second-quarter fiscal 2024 revenues of $5.7 million, operating at the high end of its guidance range.
Current Projects: GSI Technology is advancing its Gemini APU technology, focusing on applications that require low power consumption and radiation tolerance, making it ideal for future space satellites. Additionally, the company is working on Fast Vector Search and benchmarking a Synthetic Aperture Radar (SAR) customer’s database.
Financial Condition: For the second quarter of fiscal 2024, GSI Technology reported a net loss of $4.1 million on revenues of $5.7 million. The company has $25.3 million in cash, cash equivalents, and short-term investments with no debt, and a working capital of $28.8 million.
Partnerships: GSI Technology collaborates with academic institutions like UC Riverside and industry partners to develop cutting-edge compute-in-memory technology for AI and high-performance computing applications. These partnerships are critical for advancing the capabilities of the Gemini APU and exploring new markets.
Products: GSI Technology offers a range of memory products, including radiation-hardened memory for extreme environments, and associative processing units like Gemini-I and Gemini-II, which deliver significant performance advantages for diverse AI applications.
Outlook: The company anticipates third-quarter fiscal 2024 revenues between $5.4 million and $6.2 million, with a gross margin of approximately 55% to 57%. Ongoing efforts include refining the Gemini-I product offerings and progressing discussions with key hyperscale partners to develop Gemini-III, aimed at unlocking the full capabilities of in-memory computing for generative AI applications.
GSI Technology, Inc. reported financial results for Q4 and FY 2024, showing a net loss and decreased revenue compared to FY 2023. The company launched new servers and aims for product innovation while considering strategic alternatives to enhance stockholder value. Operating loss, gross margin, and expenses were highlighted in the PR. GSI plans to sell property to strengthen financial standing and extend operational runway. The outlook for Q1 FY 2025 indicates expected net revenues and gross margin. The company's financial status, strategic review, and future plans were key points in the PR.
FAQ
What is the current stock price of Gsi Technology (GSIT)?
What is the market cap of Gsi Technology (GSIT)?
What is GSI Technology, Inc.'s core business?
Where is GSI Technology, Inc. headquartered?
Who are some of GSI Technology's key customers?
What recent achievements has GSI Technology accomplished?
What financial performance did GSI Technology report for the second quarter of fiscal 2024?
What are some of GSI Technology's current projects?
In which countries does GSI Technology operate?
What are GSI Technology's expectations for the third quarter of fiscal 2024?
What kind of partnerships does GSI Technology engage in?
What products does GSI Technology offer?
