Financial Data and Key Metrics Changes - In Q4 2022, revenue grew by 14% year-over-year, and for the full fiscal year 2022, revenue increased by 20% [4] - The net loss for Q4 2022 was $4.3 million or $0.18 per diluted share on net revenues of $8.7 million, compared to a net loss of $5 million or $0.21 per diluted share on net revenues of $7.7 million in Q4 2021 [25] - Gross margin improved to 58.6% in Q4 2022 from 50.2% in the prior year period [26] - Total operating expenses in Q4 2022 were $9.4 million, up from $9.1 million in Q4 2021 [26] - Cash, cash equivalents, and short-term investments totaled $44 million as of March 31, 2022, down from $54 million a year earlier [30] Business Line Data and Key Metrics Changes - Sales to Nokia were $2.0 million or 23.1% of net revenues in Q4 2022, down from $2.8 million or 36.5% in the same period a year ago [21] - Military defense sales accounted for 22.3% of Q4 shipments, slightly down from 22.5% in the comparable period a year ago [21] - SigmaQuad sales represented 47.6% of Q4 shipments, down from 52.9% in Q4 2021 [21] Market Data and Key Metrics Changes - The company has shifted most of its chip substrate suppliers out of China to mitigate risks from COVID-related lockdowns [22] - The supply chain situation remains fluid, with ongoing efforts to address variances that could impact order fulfillment [22] Company Strategy and Development Direction - The company is focused on R&D, particularly on the Gemini-II hardware project and the upcoming launch of Version 2 of the Gemini-I compiler stack [6][7] - Plans to launch the OpenSearch platform on AWS marketplaces, targeting a fully functioning platform by Q3 2022 [14] - The company aims to penetrate the SAR market with a new product following a successful POC with Elta [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about customer engagement and the potential for revenue growth, particularly in the APU market [20][66] - The company is actively pursuing opportunities in the military and defense sectors following recent competition wins [11][12] - Management acknowledged the challenges in visibility regarding future revenue streams but emphasized ongoing traction and activity [66] Other Important Information - The company reported a significant improvement in gross margin due to a better product mix and price increases [26] - The R&D budget is expected to remain at the current run rate due to ongoing software development needs [6] Q&A Session Summary Question: Update on Rad-Hard parts satellite - The satellite has not yet launched due to missing components, with expectations for completion in the summer [36][37] Question: Cost of the mask set for Gemini-II - The process node for Gemini-II is 16-nanometer, with the mask set costing approximately $2.5 million [41][43] Question: Visibility with Nokia in fiscal '23 - Visibility remains constant, indicating a flat to slightly lower year for Nokia [44][45] Question: Development delays for Gemini-I compiler stack - The delays are due to the need for additional steps to complete the full compiler stack [60] Question: Testing of Gemini-I APU - Currently, dozens of customers are testing the Gemini-I APU, both with physical hardware and over the cloud [62] Question: Share price concerns - Management noted a lack of visibility in revenue streams as a reason for the low share price, but emphasized ongoing traction [66] Question: Interest in partnerships - There are currently no discussions about partnerships, but the company is open to opportunities that benefit shareholders [85]

Table of Contents Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 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. UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...

GSI Technology, Inc. (NASDAQ:GSIT) Q3 2022 Results Earnings Conference Call January 28, 2022 4:30 PM ET Company Participants Lee-Lean Shu – Co-Founder, President, CEO & Chairman Didier Lasserre – VP, Sales Douglas Schirle – CFO Conference Call Participants Jeffrey Bernstein – Cowen Operator Ladies and gentlemen, thank you for standing by. Welcome to GSI Technology's Third Quarter Fiscal 2022 results conference call. At this time, all participants are in a listen-only mode. Later we will conduct a question-a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 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) (State or other jurisdiction of inc ...

GSI Technology, Inc. (NASDAQ:GSIT) Q2 2022 Earnings Conference Call October 28, 2021 4:30 PM ET Company Participants Lee-Lean Shu - Co-Founder, President, CEO & Chairman Didier Lasserre - VP, Sales Douglas Schirle - CFO Conference Call Participants Denis Pyatchanin - Needham & Company Jeffrey Bernstein - Cowen Brett Reiss - Janney Montgomery Scott John Fichthorn - Dialectic Capital Management Operator Ladies and gentlemen, thank you for standing by. Welcome to GSI Technology's Second Quarter Fiscal 2022 Res ...

| --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | Safe Harbor The statements contained in this presentation 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 presentation are based upon information available to GSI Te ...

[PART I — FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) GSI Technology reported $8.8 million net revenues (up 32.8% YoY) and a $4.2 million net loss, maintaining a debt-free balance sheet [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | June 30, 2021 (In thousands) | March 31, 2021 (In thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $44,490 | $44,234 | | Total current assets | $61,886 | $63,446 | | Total assets | $84,537 | $87,612 | | **Liabilities & Equity** | | | | Total current liabilities | $7,039 | $7,462 | | Total liabilities | $11,563 | $12,020 | | Total stockholders' equity | $72,974 | $75,592 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Statement of Operations Summary (Unaudited) | Metric | Three Months Ended June 30, 2021 (In thousands) | Three Months Ended June 30, 2020 (In thousands) | | :--- | :--- | :--- | | Net revenues | $8,791 | $6,621 | | Gross profit | $4,782 | $3,050 | | Total operating expenses | $9,143 | $8,745 | | Loss from operations | $(4,361) | $(5,695) | | Net loss | $(4,209) | $(6,076) | | Net loss per share (Basic & Diluted) | $(0.17) | $(0.26) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary (Unaudited) | Activity | Three Months Ended June 30, 2021 (In thousands) | Three Months Ended June 30, 2020 (In thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,621) | $(3,575) | | Net cash provided by investing activities | $4,094 | $700 | | Net cash provided by financing activities | $783 | $2,339 | | Net increase (decrease) in cash | $256 | $(536) | | Cash and cash equivalents at end of period | $44,490 | $50,970 | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, revenue recognition, and financial instrument valuations, highlighting COVID-19 impacts and key customer Nokia - The **COVID-19 pandemic** continues to disrupt business operations, impacting customer buying patterns, supply chains, and sales, with expected persistence through fiscal 2022 and into 2023[30](index=30&type=chunk)[31](index=31&type=chunk)[33](index=33&type=chunk) - Sales of **SRAM products** constituted approximately **99% of total revenues** for the three months ended June 30, 2021[44](index=44&type=chunk) - **Nokia**, the company's largest customer, represented approximately **42.7% of net revenues** in the three months ended June 30, 2021, up from 26.9% in the same period of 2020[46](index=46&type=chunk) Revenue by Customer Type (In thousands) | Customer Type | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | | :--- | :--- | :--- | | Contract manufacturers | $3,863 | $2,168 | | Distribution | $4,710 | $4,323 | | OEMs | $218 | $130 | | **Total** | **$8,791** | **$6,621** | Net Revenues by Geographic Area (In thousands) | Region | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | | :--- | :--- | :--- | | United States | $4,534 | $2,467 | | China | $321 | $637 | | Singapore | $1,585 | $1,239 | | Netherlands | $1,368 | $1,534 | | Germany | $577 | $478 | | Rest of the world | $406 | $266 | | **Total** | **$8,791** | **$6,621** | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=32&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A attributes 32.8% revenue growth to ASP and unit increases, improved gross margin to 54.4%, and highlights strong liquidity with $55.8 million cash [Overview](index=32&type=section&id=Overview) - The company is a fabless semiconductor firm specializing in **Very Fast SRAMs** for networking and telecommunications, subject to industry cyclicality[94](index=94&type=chunk) - The **COVID-19 pandemic** has negatively impacted business operations, restricting sales, reducing customer demand, and causing supply chain shortages, with effects expected to continue into fiscal 2023[95](index=95&type=chunk)[97](index=97&type=chunk)[98](index=98&type=chunk) - The company maintains a strong balance sheet with **$55.8 million in cash and investments** and **no debt** as of June 30, 2021, providing financial flexibility[99](index=99&type=chunk) [Results of Operations](index=38&type=section&id=Results%20of%20Operations) - **Net revenues increased by 32.8% to $8.8 million** in Q1 FY22 from $6.6 million in Q1 FY21, driven by a **23.0% increase in average selling price (ASP)** and a **5.8% increase in units shipped**[113](index=113&type=chunk)[115](index=115&type=chunk) - **Gross margin improved to 54.4%** from 46.1% in the prior-year quarter, primarily due to changes in product and customer mix[117](index=117&type=chunk) - **Research and development (R&D) expenses increased by 4.8% to $6.1 million**, mainly due to higher payroll-related costs[118](index=118&type=chunk) - **Selling, general and administrative (SG&A) expenses rose 4.1% to $3.0 million**, driven by higher commissions for independent sales representatives[119](index=119&type=chunk) - **Net loss decreased to $4.2 million** from $6.1 million in the prior-year quarter, reflecting higher revenues and improved gross profit[123](index=123&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) - As of June 30, 2021, principal sources of liquidity were cash, cash equivalents, and short-term investments totaling **$51.5 million**[124](index=124&type=chunk) Cash Flow Activity (Three Months Ended June 30) | Cash Flow Activity | 2021 (In millions) | 2020 (In millions) | | :--- | :--- | :--- | | Net cash used in operating activities | $(4.6) | $(3.6) | | Net cash provided by investing activities | $4.1 | $0.7 | | Net cash provided by financing activities | $0.8 | $2.3 | - Management believes existing cash balances and expected cash flow from operations will be sufficient to meet working capital and capital expenditure needs for at least the next 12 months[129](index=129&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company identifies minimal foreign currency exchange risk and immaterial interest rate sensitivity due to USD transactions and a short-term investment portfolio - **Foreign currency exchange risk is low** because revenues and most expenses are denominated in U.S. dollars, and the company does not currently use hedging instruments[136](index=136&type=chunk) - **Interest rate sensitivity is not considered a material risk** to the fair value of the company's **$55.8 million investment portfolio** due to its short-term nature, with a hypothetical 100 basis point change not materially affecting fair value[137](index=137&type=chunk)[138](index=138&type=chunk) [Item 4. Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) CEO and CFO concluded disclosure controls were effective as of June 30, 2021, with no material changes in internal control over financial reporting - The **CEO and CFO concluded that as of June 30, 2021, the company's disclosure controls and procedures were effective**[139](index=139&type=chunk) - **No changes in internal control over financial reporting** occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[140](index=140&type=chunk) [PART II — OTHER INFORMATION](index=46&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) [Item 1A. Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) Key risks include unpredictable operating results, heavy reliance on Nokia, COVID-19 impacts, new product challenges, and dependence on single-source suppliers like TSMC - **Business & Financial Risks:** The company faces risks from unpredictable operating results, significant dependence on its largest customer **Nokia (43% of revenue in the quarter)**, and the continued adverse impact of the **COVID-19 pandemic**[142](index=142&type=chunk)[147](index=147&type=chunk)[148](index=148&type=chunk) - **Product & Market Risks:** Future success is substantially dependent on the successful introduction of new **in-place associative computing products**, which entails significant technological and market adoption risks, alongside intense competition and price erosion in the Very Fast SRAM market[158](index=158&type=chunk)[166](index=166&type=chunk) - **Manufacturing & Supply Chain Risks:** The company is dependent on **single-source suppliers**, most notably **TSMC for wafers**, where any disruption, capacity constraint, or price increase could harm the business[159](index=159&type=chunk)[160](index=160&type=chunk) - **International Operations Risks:** A significant portion of manufacturing and sales occurs internationally, exposing the company to risks from **political instability (particularly in Taiwan)**, trade policy changes, and natural disasters in the Pacific Rim[201](index=201&type=chunk)[202](index=202&type=chunk)[206](index=206&type=chunk) - **Stock & Ownership Risks:** The stock price is subject to volatility, and executive officers and directors beneficially own approximately **35% of outstanding common stock**, allowing substantial influence over corporate matters[212](index=212&type=chunk)[216](index=216&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=75&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase any common stock under its authorized program during the quarter ended June 30, 2021 - The company did not repurchase any of its common stock during the quarter ended June 30, 2021, under its authorized stock repurchase program[220](index=220&type=chunk) [Item 6. Exhibits](index=76&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL data files - The exhibits filed include certifications from the **CEO and CFO** as required by the Sarbanes-Oxley Act of 2002 and interactive data files in Inline XBRL format[222](index=222&type=chunk) [Signatures](index=77&type=section&id=Signatures) The report is duly signed and authorized by Lee-Lean Shu, President, CEO, and Chairman, and Douglas M. Schirle, CFO, on August 6, 2021 - The Form 10-Q was signed on **August 6, 2021**, by the company's President, CEO, and Chairman, and its Chief Financial Officer[225](index=225&type=chunk)[226](index=226&type=chunk)

GSI Technology, Inc. (NASDAQ:GSIT) Q1 2022 Earnings Conference Call July 29, 2021 4:30 AM ET Company Participants Lee-Lean Shu - Chairman, President & Chief Executive Officer Didier Lasserre - Vice President of Sales Douglas Schirle - Chief Financial Officer Conference Call Participants Jeff Bernstein - Cowen Operator Good day ladies and gentlemen and thank you for standing by. Welcome to GSI Technology's First Quarter Fiscal 2022 Results Conference Call. [Operator Instructions] Before we begin today's call ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ 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 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, 2021 or (State or other jurisdiction of incorp ...

GSI Technology, Inc. (NASDAQ:GSIT) Q4 2021 Earnings Conference Call May 6, 2021 4:30 PM ET Company Participants Lee-Lean Shu - Chairman, President & Chief Executive Officer Didier Lasserre - Vice President of Sales Doug Schirle - Chief Financial Officer Conference Call Participants Kurt Caramanidis - Carl M. Hennig Operator Ladies and gentlemen thank you for standing by. Welcome to GSI Technology's Fourth Quarter and Fiscal Year 2021 Results Conference Call. [Operator Instructions] Before we begin today's c ...