GCT Semiconductor Holding, Inc. Financials
GCT Semiconductor Holding, Inc. (GCTS) reported $2.9M in revenue for fiscal year 2025, down 68.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A development-stage cost structure is being sustained by outside financing as commercial revenue keeps shrinking.
The business burned$31.0M of operating cash in FY2024 and$30.7M in FY2025, so cash use barely moved even while the commercial side deteriorated. When revenue fell to$2.9M and financing inflows reached$32.2M , the operating model was effectively being bridged by external funding rather than by a self-correcting cost base.
R&D remained above revenue in each of the last three years, including
Near-term liquidity also tightened as the current ratio fell from 0.3x to 0.1x. By FY2025, current liabilities of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of GCT Semiconductor Holding, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
GCT Semiconductor Holding, Inc. scores -65.76, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($187.6M) relative to total liabilities ($98.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
GCT Semiconductor Holding, Inc. passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
GCT Semiconductor Holding, Inc. reported a net loss of $43.4M while operations used $30.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
GCT Semiconductor Holding, Inc. reported an operating loss of $36.5M against $6.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
GCT Semiconductor Holding, Inc. generated $2.9M in revenue in fiscal year 2025. This represents a decrease of 68.6% from the prior year.
GCT Semiconductor Holding, Inc.'s EBITDA was -$35.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 188.0% from the prior year.
GCT Semiconductor Holding, Inc. reported -$43.4M in net income in fiscal year 2025. This represents a decrease of 250.4% from the prior year.
GCT Semiconductor Holding, Inc. earned -$0.82 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 173.3% from the prior year.
Cash & Balance Sheet
GCT Semiconductor Holding, Inc. recorded an outflow of $33.1M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 5.0% from the prior year.
GCT Semiconductor Holding, Inc. held $590K in cash against $6.0M in long-term debt as of fiscal year 2025, with $79.6M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
GCT Semiconductor Holding, Inc.'s gross margin was -63.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 119.0 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
GCT Semiconductor Holding, Inc. invested $14.0M in research and development in fiscal year 2025. This represents a decrease of 19.2% from the prior year.
GCT Semiconductor Holding, Inc. invested $2.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 344.8% from the prior year.
Not reported for fiscal year 2025.
GCTS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Revenue | $4.1M | $2.9M-68.6% | $9.1M-43.0% | $16.0M | N/A |
| Cost of Revenue | $5.6M | $4.7M+15.6% | $4.1M-56.4% | $9.3M | N/A |
| Gross Profit | -$1.6M | -$1.8M-135.8% | $5.1M-24.6% | $6.7M | N/A |
| R&D Expenses | $12.9M | $14.0M-19.2% | $17.3M+61.8% | $10.7M | N/A |
| SG&A Expenses | $16.0M | $16.5M+52.6% | $10.8M+46.1% | $7.4M | N/A |
| Operating Income | -$34.8M | -$36.5M-178.5% | -$13.1M+9.9% | -$14.6M-1141.6% | -$1.2M |
| Interest Expense | $6.4M | $6.0M+55.8% | $3.9M-38.1% | $6.2M | N/A |
| Income Tax | $994K | $902K+102.7% | $445K-17.7% | $541K-45.6% | $995K |
| Net Income | -$53.1M | -$43.4M-250.4% | -$12.4M+44.9% | -$22.5M-192.6% | $24.3M |
| EPS (Diluted) | — | -$0.82-173.3% | -$0.30 | -$0.94 | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GCTS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Total Assets | $15.6M-21.4% | $19.9M+21.1% | $16.4M-95.4% | $357.0M |
| Current Assets | $11.9M-32.4% | $17.6M+35.2% | $13.0M+1425.8% | $853K |
| Cash & Equivalents | $590K-58.9% | $1.4M+456.2% | $258K-50.5% | $521K |
| Inventory | $947K-68.2% | $3.0M+100.3% | $1.5M | N/A |
| Accounts Receivable | $2.6M-54.8% | $5.7M+16.7% | $4.9M | N/A |
| Total Liabilities | $98.9M+24.9% | $79.2M-39.9% | $131.9M-70.8% | $452.0M |
| Current Liabilities | $79.6M+30.6% | $60.9M-46.9% | $114.8M+19872.3% | $575K |
| Long-Term Debt | $6.0M+22.2% | $4.9M-20.7% | $6.2M | N/A |
| Total Equity | -$83.3M-40.4% | -$59.3M+48.6% | -$115.4M-21.6% | -$94.9M |
| Retained Earnings | -$605.4M-7.7% | -$562.0M-2.3% | -$549.7M-3808.2% | -$14.1M |
Not reported in any period shown, so not listed: Goodwill.
GCTS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$38.1M | -$30.7M+0.9% | -$31.0M-250.7% | -$8.8M-482.2% | -$1.5M |
| Capital Expenditures | $2.6M | $2.4M+344.8% | $542K+63.7% | $331K | N/A |
| Free Cash Flow | -$40.7M | -$33.1M-5.0% | -$31.5M-244.0% | -$9.2M | N/A |
| Investing Cash Flow | -$2.6M | -$2.4M-344.8% | -$542K-63.7% | -$331K-140.2% | $823K |
| Financing Cash Flow | $70.1M | $32.2M-11.6% | $36.5M+347.6% | $8.1M | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GCTS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Gross Margin | -63.4%-119.0pp | 55.6%+13.6pp | 42.0% | N/A |
| Operating Margin | -1275.0% | -143.8% | -90.8% | N/A |
| Net Margin | -1513.3% | -135.6% | -140.2% | N/A |
| Return on Assets | -277.2%-215.0pp | -62.2%+74.5pp | -136.8%-143.6pp | 6.8% |
| Current Ratio | 0.15-0.1x | 0.29+0.2x | 0.11-1.4x | 1.48 |
| FCF Margin | -1154.4% | -345.1% | -57.1% | N/A |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$83.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.15), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where GCT Semiconductor Holding, Inc. Ranks
Frequently Asked Questions
What is GCT Semiconductor Holding, Inc.'s annual revenue?
GCT Semiconductor Holding, Inc. (GCTS) reported $2.9M in total revenue for fiscal year 2025. This represents a -68.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is GCT Semiconductor Holding, Inc.'s revenue growing?
GCT Semiconductor Holding, Inc. (GCTS) revenue declined by 68.6% year-over-year, from $9.1M to $2.9M in fiscal year 2025.
Is GCT Semiconductor Holding, Inc. profitable?
No, GCT Semiconductor Holding, Inc. (GCTS) reported a net income of -$43.4M in fiscal year 2025.
What is GCT Semiconductor Holding, Inc.'s EBITDA?
GCT Semiconductor Holding, Inc. (GCTS) had EBITDA of -$35.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does GCT Semiconductor Holding, Inc. have?
As of fiscal year 2025, GCT Semiconductor Holding, Inc. (GCTS) had $590K in cash and equivalents against $6.0M in long-term debt.
What is GCT Semiconductor Holding, Inc.'s gross margin?
GCT Semiconductor Holding, Inc. (GCTS) had a gross margin of -63.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is GCT Semiconductor Holding, Inc.'s free cash flow?
GCT Semiconductor Holding, Inc. (GCTS) recorded an outflow of $33.1M in free cash flow during fiscal year 2025. This represents a -5.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is GCT Semiconductor Holding, Inc.'s operating cash flow?
GCT Semiconductor Holding, Inc. (GCTS) recorded an outflow of $30.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are GCT Semiconductor Holding, Inc.'s total assets?
GCT Semiconductor Holding, Inc. (GCTS) had $15.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are GCT Semiconductor Holding, Inc.'s capital expenditures?
GCT Semiconductor Holding, Inc. (GCTS) invested $2.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does GCT Semiconductor Holding, Inc. spend on research and development?
GCT Semiconductor Holding, Inc. (GCTS) invested $14.0M in research and development during fiscal year 2025.
What is GCT Semiconductor Holding, Inc.'s current ratio?
GCT Semiconductor Holding, Inc. (GCTS) had a current ratio of 0.15 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is GCT Semiconductor Holding, Inc.'s return on assets (ROA)?
GCT Semiconductor Holding, Inc. (GCTS) had a return on assets of -277.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is GCT Semiconductor Holding, Inc.'s cash runway?
Based on fiscal year 2025 data, GCT Semiconductor Holding, Inc. (GCTS) had $590K in cash against an annual operating cash burn of $30.7M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is GCT Semiconductor Holding, Inc.'s debt-to-equity ratio negative or not reported?
GCT Semiconductor Holding, Inc. (GCTS) has negative shareholder equity of -$83.3M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is GCT Semiconductor Holding, Inc.'s Altman Z-Score?
GCT Semiconductor Holding, Inc. (GCTS) has an Altman Z-Score of -65.76, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is GCT Semiconductor Holding, Inc.'s Piotroski F-Score?
GCT Semiconductor Holding, Inc. (GCTS) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are GCT Semiconductor Holding, Inc.'s earnings high quality?
GCT Semiconductor Holding, Inc. (GCTS) reported a net loss of $43.4M while operations used $30.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can GCT Semiconductor Holding, Inc. cover its interest payments?
GCT Semiconductor Holding, Inc. (GCTS) reported an operating loss of $36.5M against $6.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is GCT Semiconductor Holding, Inc.?
GCT Semiconductor Holding, Inc. (GCTS) scores 18 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.