Financial Performance - GSI Technology reported net revenues of $5.4 million for Q3 FY2025, a 2% increase year-over-year and a 19% increase sequentially[2]. - Gross margin for Q3 FY2025 was 54.0%, compared to 55.9% in Q3 FY2024 and 38.6% in Q2 FY2025[3]. - Operating loss for Q3 FY2025 was $(4.1) million, an improvement from $(6.7) million in Q3 FY2024 and $(5.6) million in Q2 FY2025[7]. - Net loss for Q3 FY2025 was $(4.0) million, or $(0.16) per diluted share, compared to $(6.6) million, or $(0.26) per diluted share in Q3 FY2024[8]. - Research and development expenses decreased to $4.0 million in Q3 FY2025 from $7.0 million in the prior-year period[5]. - GSI Technology anticipates Q4 FY2025 net revenues to be in the range of $5.4 million to $6.2 million, with a gross margin of approximately 55% to 57%[2]. Sales and Revenue Composition - Sales to Nokia accounted for 4.4% of net revenues in Q3 FY2025, down from 15.2% in Q3 FY2024[4]. - Military/defense sales represented 30.0% of shipments in Q3 FY2025, compared to 28.2% in the same period a year ago[4]. Cash and Assets - The company had $15.1 million in cash and cash equivalents as of December 31, 2024, up from $14.4 million at March 31, 2024[9]. - Total assets increased to $44,133 million as of December 31, 2024, up from $42,464 million on March 31, 2024, representing a growth of 3.93%[20]. - Cash and cash equivalents rose to $15,085 million, an increase of 4.54% from $14,429 million[20]. - Accounts receivable increased to $3,583 million, up 15% from $3,118 million[20]. - Inventory decreased to $3,885 million, down 22% from $4,977 million[20]. Liabilities and Equity - Current liabilities increased to $5,900 million, up 9.94% from $5,365 million[20]. - Long-term liabilities significantly increased to $8,300 million from $1,129 million, indicating a rise of 636.2%[20]. - Stockholders' equity decreased to $29,933 million from $35,970 million, a decline of 16.7%[21]. - Operating lease right-of-use assets increased to $9,858 million from $1,553 million, a substantial rise of 533.5%[20]. - Other current assets decreased to $1,267 million from $1,954 million, a decline of 35.2%[20]. - Total liabilities and stockholders' equity remained consistent at $44,133 million as of December 31, 2024[21]. Technology Development - GSI Technology is progressing on the development of its APU technology, with the Gemini-II chip on track for a February tape-out and availability in May[2].
GSI Technology(GSIT) - 2025 Q3 - Quarterly Results