Summary Financial Results Table (in thousands, except per share amounts) Lee-Lean Shu, Chairman and Chief Executive Officer commented, "First quarter revenue of $4.7 million was within our guidance range despite lower sales of SigmaQuad SRAM and lower sales of our SRAM products to military prime contractors. To reverse this revenue decline, achieve financial stability and ultimately return to growth, we are focused on introducing new business lines with Gemini-I and Gemini-II. Cash on hand at June 30, 2024, ...

California-based GSI Technology's innovative developments, particularly with its Gemini-I and Gemini-II associative processing units (APUs), mark a significant leap in high-performance computing (HPC) and artificial intelligence (AI) processing. These advancements offer substantial performance gains, especially for applications requiring high capacity and low power, such as synthetic aperture radar and fast vector search. A notable financial move is the sale and leaseback of GSI Technology's headquarters, w ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33387 GSI Technology, Inc. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorp ...

GEMINI-II APU TO TARGET SMALL MODEL ALGORITHMS THAT FIT ENTIRELY INTO THE CHIP'S MEMORY FOR EDGE APPLICATIONS SUNNYVALE, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- GSI Technology, Inc. (NASDAQ:GSIT), the inventor of the Associative Processing Unit (APU), a paradigm shift in AI and HPC processing providing true compute-in-memory technology, today reiterated the key highlights from its recent earnings call for the fourth quarter of fiscal year 2024 held on Thursday, May 2, 2024. Key Business Updates from Earnin ...

GSI Technology, Inc. (NASDAQ:GSIT) Q4 2024 Earnings Conference Call May 2, 2024 4:30 PM ET Company Participants Lee-Lean Shu - Chairman, President & Chief Executive Officer Didier Lasserre - Vice President, Sales Douglas Schirle - Chief Financial Officer Conference Call Participants Operator Ladies and gentlemen, thank you for standing by, and welcome to the GSI Technology's Fourth Quarter Fiscal 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will ...

Exhibit 99.1 Fiscal Year 2024 Summary Financials For the fiscal year ended March 31, 2024, the Company reported a net loss of $(20.1) million, or $(0.80) per diluted share, on net revenues of $21.8 million, compared to a net loss of $(16.0) million, or $(0.65) per diluted share, on net revenues of $29.7 million in the fiscal year ended March 31, 2023. Gross margin for fiscal 2024 was 54.3%, compared to 59.6% in the prior year. The decrease in gross margin was primarily due to product mix and the effect of l ...

SUNNYVALE, Calif., April 18, 2024 (GLOBE NEWSWIRE) -- GSI Technology, Inc. (Nasdaq: GSIT), developer of the Gemini ® Associative Processing Unit (APU) for AI and high-performance parallel computing (HPPC) and a leading provider of high-performance memory solutions for networking, telecommunications and military markets, will announce financial results for its fiscal fourth quarter and year end 2024 ended March 31, 2024 after the market close on Thursday, May 2, 2024. Management will also conduct a conferenc ...

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Financial Position - The company reported cash and cash equivalents of $21.6 million as of December 31, 2023, with no debt[101]. - Cash and cash equivalents as of December 31, 2023 were $21.6 million, down from $30.6 million as of March 31, 2023[126]. - The company believes existing cash balances and expected cash flow will be sufficient for working capital and capital expenditures for at least the next 12 months[131]. - The company sold 133,000 shares at an average price of $4.20, resulting in proceeds of $542,000 after offering costs of $389,000 during Q3 2023[133]. - As of December 31, 2023, the company had $4.2 million in purchase obligations, with $3.3 million due within the next twelve months[133]. - The contingent consideration liability related to the acquisition of MikaMonu was accrued at $495,000, payable through December 31, 2025, contingent on revenue targets[133]. - The company reported cash and cash equivalents of $21.6 million as of December 31, 2023, primarily invested in money market funds[138]. Revenue and Sales Performance - Sales to networking and telecommunications OEMs accounted for 32% to 53% of net revenues over the last three fiscal years, with Nokia being the largest customer, representing approximately 23% of net revenues in the nine months ended December 31, 2023[107]. - Net revenues decreased by 17.5% from $6.4 million in Q4 2022 to $5.3 million in Q4 2023, and by 31.8% from $24.3 million in the nine months ended December 31, 2022 to $16.6 million in the same period in 2023[116]. Expenses and Costs - Research and development expenses included a charge of $2.4 million for a pre-production mask set for the APU-2 during the quarter ended December 31, 2023[110]. - Research and development expenses increased by 26.2% from $5.5 million in Q4 2022 to $7.0 million in Q4 2023, primarily due to increased pre-production mask costs for the APU-2 product[120]. - Selling, general and administrative expenses decreased by 9.5% from $3.0 million in Q4 2022 to $2.7 million in Q4 2023, while increasing by 1.8% from $8.1 million in the nine months ended December 31, 2022 to $8.2 million in the same period in 2023[121]. - The company has been impacted by supply chain constraints and inflation, leading to increased costs in wafer fabrication and assembly operations[108]. Profitability and Loss - Gross profit decreased by 19.7% from $3.7 million in Q4 2022 to $3.0 million in Q4 2023, and by 37.5% from $14.7 million in the nine months ended December 31, 2022 to $9.2 million in the same period in 2023[118]. - Net loss was $6.6 million in Q4 2023 compared to $4.8 million in Q4 2022, and $15.8 million in the nine months ended December 31, 2023 compared to $12.0 million in the same period in 2022[125]. Future Outlook - The company expects continued fluctuations in revenues due to changes in customer buying patterns and economic conditions, including inflation and energy price fluctuations[98]. - The company anticipates that overall average selling prices will increase in the coming quarters due to a shift towards higher price, higher density products[104]. - The company expects that selling, general, and administrative expenses will increase in absolute dollars as it expands its sales force[111]. Internal Controls and Compliance - There was a material weakness in internal control over financial reporting identified as of March 31, 2023, which has not been remediated as of December 31, 2023[140]. - Management has implemented a detailed plan to remediate the identified material weakness, focusing on enhancing review controls over forecasts used for contingent consideration calculations[142]. - The company does not have any off-balance sheet arrangements or relationships with unconsolidated entities as of December 31, 2023[135]. Risk Factors - Foreign currency exchange risks are minimal, as revenues and expenses are primarily denominated in U.S. dollars[137]. - The company does not currently enter into forward exchange contracts or derivative financial instruments for hedging or speculative purposes[137]. - A hypothetical 100 basis point change in interest rates is not expected to materially affect the fair value of the company's interest-sensitive financial instruments[138].

GSI Technology, Inc. (NASDAQ:GSIT) Q3 2024 Earnings Conference Call January 25, 2024 4:30 PM ET Company Participants Lee-Lean Shu - Chairman, President and Chief Executive Officer Didier Lasserre - Vice President, Sales Douglas Schirle - Chief Financial Officer Conference Call Participants Brett Reiss - Janney Montgomery Scott Jeff Bernstein - Silverberg Bernstein Capital Operator Ladies and gentlemen, thank you for standing by. Welcome to GSI Technology's Third Quarter Fiscal 2024 Financial Results Confere ...