Financial Performance - GSI Technology reported fourth quarter net revenues of $5.9 million, a 14% increase year-over-year and a 9% increase sequentially[2]. - For fiscal year 2025, net revenues totaled $20.5 million, down from $21.8 million in fiscal 2024, with a gross margin of 49.4% compared to 54.3% in the prior year[3]. - Net revenues for the three months ended March 31, 2025, increased to $5,883,000, compared to $5,414,000 for the previous quarter, representing a growth of 8.6%[21]. Gross Margin and Profitability - The gross margin for the fourth quarter was 56.1%, up from 51.6% in the same quarter last year[7]. - The operating loss for fiscal 2025 was $(10.8) million, an improvement from $(20.4) million in the previous year[6]. - Gross profit for the twelve months ended March 31, 2025, was $10,140,000, down from $11,823,000 in the previous year, reflecting a decrease of 14.2%[21]. - The net loss for the three months ended March 31, 2025, was $2,230,000, compared to a net loss of $4,029,000 for the previous quarter, indicating an improvement of 44.6%[21]. - The company reported a total operating loss of $2,276,000 for the three months ended March 31, 2025, an improvement from a loss of $4,055,000 in the previous quarter[21]. Operating Expenses - Operating expenses for fiscal 2025 were $21.0 million, significantly reduced from $32.3 million in fiscal 2024[4]. - Research and development expenses for fiscal 2025 were $16.0 million, down from $21.7 million in fiscal 2024, aided by government funding[4]. - Research and development expenses for the three months ended March 31, 2025, were $2,966,000, a decrease of 26.5% compared to $4,037,000 in the previous quarter[21]. Cash and Assets - Cash and cash equivalents as of March 31, 2025, were $13.4 million, a decrease from $14.4 million a year earlier[12]. - Total assets as of March 31, 2025, increased to $43,317,000 from $42,464,000 as of March 31, 2024, showing a growth of 2.0%[24]. - Stockholders' equity decreased to $28,226,000 as of March 31, 2025, down from $35,970,000 a year earlier, representing a decline of 21.5%[24]. - Current liabilities increased to $7,074,000 as of March 31, 2025, compared to $5,365,000 as of March 31, 2024, reflecting an increase of 31.9%[24]. Future Outlook - The company anticipates first quarter fiscal 2026 net revenues between $5.5 million and $6.3 million, with gross margins of approximately 56% to 58%[2]. - GSI secured an initial order for radiation-hardened SRAM from a North American prime contractor, expected to yield higher gross margins[2]. Product Development - GSI is enhancing its Plato product by integrating a camera interface directly into the chip, aimed at improving edge computing applications[2]. Other Income - Interest and other income for the twelve months ended March 31, 2025, totaled $326,000, compared to $414,000 in the previous year, a decrease of 21.2%[21]. Share Information - The weighted-average shares used in computing net loss per share were 25,604,000 for the three months ended March 31, 2025, compared to 25,546,000 in the previous quarter, indicating a slight increase[21].
GSI Technology(GSIT) - 2025 Q4 - Annual Results