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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 (NASDAQ:GSIT) has appointed Gur Kimchi to its Advisory Board. Kimchi brings over a decade of experience from Amazon, where he co-founded the Prime Air drone project, and has previously held positions at Microsoft. His expertise in AI-powered systems and memory architectures is expected to enhance GSI’s strategic direction, especially for its innovative Gemini Associative Processing Unit. GSI aims to expand its Advisory Board, leveraging Kimchi's leadership to drive technology and market growth.
GSI Technology, Inc. (NASDAQ: GSIT) reported its second fiscal quarter financial results with a net loss of $5.2 million or $0.22 per diluted share on revenues of $6.7 million, a decline from $11.7 million in the same quarter last year. Gross margin decreased to 46.7% from 55.9% year-over-year. Sales to Nokia, representing 51.7% of revenues, fell compared to both the prior year and quarter. The company anticipates third-quarter revenues between $6 million and $7.2 million with a gross margin of 41% to 43%.
GSI Technology, Inc. (NASDAQ:GSIT) has appointed Kim Le to its Board of Directors, enhancing its financial expertise. Ms. Le is the CEO of A2Q2 Corporation and has over 25 years of experience in public accounting and corporate governance. Her background includes significant roles in auditing and compliance, notably with public firms. GSI anticipates her contributions will bolster its Audit Committee and overall corporate strategy. Established in 1995, GSI specializes in high-performance memory solutions and aims to innovate in the semiconductor market.
GSI Technology, Inc. (Nasdaq: GSIT) has announced that Douglas Schirle, CFO, and Didier Lasserre, VP of Sales and Investor Relations, will participate in one-on-one meetings at the Sidoti Virtual Microcap Conference on November 19, 2020. Additionally, they will present in a group session from 4:00 to 4:30 p.m. Eastern time. GSI Technology specializes in high-performance memory solutions for various markets and is known for its Gemini Associative Processing Unit for AI. For more details, visit the Sidoti conference website.
GSI Technology, Inc. (GSIT) will announce its second quarter fiscal 2021 financial results on October 29, 2020, following market close. The report will cover the period ending September 30, 2020. A conference call to discuss the results and third quarter outlook is scheduled for 1:30 p.m. PT (4:30 p.m. ET) that day. Participants can join by dialing the provided numbers or through the company's website. GSI specializes in high-performance memory solutions for various markets and is focusing on advancing its Gemini Associative Processing Unit for AI applications.
GSI Technology (Nasdaq: GSIT) announced its participation in the virtual Linley Fall Processor Conference 2020, occurring from October 20-22 and 27-29. Bob Haig and Dan Ilan will present on October 29 at 10:10 a.m. PT, discussing how Associative Processing Units (APUs) challenge traditional Von Neumann Architecture for better latency and energy efficiency. The conference highlights soaring industry demand for AI performance, despite pandemic challenges. Attendees can schedule one-on-ones with GSI and view live demonstrations of their Gemini APU technology.
GSI Technology, Inc. (Nasdaq: GSIT), a leader in high-performance memory solutions, announced that its CFO, Douglas Schirle, and VP of Sales, Didier Lasserre, will host one-on-one meetings at the Jefferies Virtual Semiconductor, IT Hardware & Communications Infrastructure Summit on September 1, 2020. This virtual event allows interested parties to connect with the GSI team by contacting their Jefferies representative to secure a meeting slot. GSI specializes in semiconductor memory for various markets, including AI applications through its Gemini® APU.
GSI Technology, Inc. (Nasdaq: GSIT), a provider of high-performance memory solutions, will participate in the LD 500 investor conference on September 3, 2020. Douglas Schirle, CFO, and Didier Lasserre, VP of Sales and Investor Relations, will present at 8:20 a.m. PDT and conduct one-on-one meetings. The conference runs from September 1-4, 2020, and interested participants can register online. GSI aims to leverage its advanced products, including the Gemini® APU for AI applications, to enhance its market positioning.
GSI Technology, Inc. (Nasdaq: GSIT) has published a white paper detailing its collaboration with the Weizmann Institute to aid in COVID-19 treatment research. Utilizing GSI's Gemini APU, the Weizmann scientists can execute rapid similarity structure searches on a database of 40 million compounds to identify potential antiviral treatments. The Gemini APU significantly reduces response times from minutes to seconds compared to traditional CPUs. This partnership aims to discover active compounds that may be beneficial in treating COVID-19, particularly similar to the antiviral, Remdesivir.
GSI Technology, Inc. (NASDAQ: GSIT) reported disappointing financial results for Q1 fiscal 2021, ending June 30, 2020. Net revenues totaled $6.6 million, a decline from $13 million a year ago, with a gross margin of 46.1%, significantly lower than 63.3% in the previous year. The company faced an operating loss of $(5.7 million) and a net loss of $(6.1 million) or $(0.26) per diluted share. CEO Lee-Lean Shu noted challenges from COVID-19 affecting sales and customer demand but remains optimistic about their Gemini APU technology's future. Guidance for Q2 expects revenues between $6 million and $7.2 million.
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