Financial Performance - Net revenues for Q1 2025 were $0.5 million, an 84.8% decrease from $3.3 million in Q1 2024[6] - Gross margin decreased to 17.7%, down 42.1 percentage points from 59.8% in the previous year[6] - Total operating expenses increased by 248.2% to $7.8 million, compared to a gain of $(5.3) million in Q1 2024[14] - Net loss for Q1 2025 was $(7.0) million, a 1020.5% decrease from net income of $0.8 million in Q1 2024[14] - Total assets decreased to $17.5 million as of March 31, 2025, down from $19.9 million in the previous year[18] Future Outlook - The company expects 5G chipset sampling to commence at the end of May 2025, with volume shipments anticipated to increase in the second half of the year[8] - The average selling price of 5G products is expected to be approximately four times that of 4G offerings, positively impacting revenue and gross margin[3] Financial Flexibility - The company has filed a shelf registration providing up to $200 million in capacity, including a $75 million at-the-market facility, enhancing financial flexibility[3] - Cash and cash equivalents as of March 31, 2025, were $1.0 million, with net accounts receivable of $4.5 million and inventory of $3.1 million[7] Strategic Partnerships - A letter of intent was signed with Orbic North America to jointly develop a mobile hotspot and FWA gateway utilizing a Verizon-certified 5G module[5]
GCT Semiconductor Holding, Inc.(GCTS) - 2025 Q1 - Quarterly Results