GCT Semiconductor Holding, Inc. - GCTS STOCK NEWS

Orbic North America and GCT Semiconductor (NYSE: GCTS) have signed a letter of intent (LOI) to jointly develop and supply Orbic-branded mobile hotspot and FWA gateway products using Verizon-certified 5G modules based on GCT's new 5G chipset.

The partnership framework includes volume purchase terms for supply to Verizon and other operators worldwide. The initial phase will focus on devices for the Verizon network, with plans to expand to other operators globally. GCT will provide technical expertise and chipsets for volume production.

As part of this initiative, Orbic is constructing a new manufacturing facility in Hauppauge, NY, for producing CPEs, mobile hotspots, smartphones, and tablets. The partnership remains subject to negotiation and execution of definitive agreements.

GCT Semiconductor (NYSE: GCTS) has announced its Q4 and full year 2024 financial results while launching its '2025GCT' program to mark the 'Year of 5G'. The company expects to commence 5G chipset shipments in H1 2025, partnering with notable companies including Globalstar, Samsung Electronics, and Kyocera.

Financial highlights for Q4 2024:

• Net revenues: $1.8M (down 57.4% YoY)
• Gross margin: 32.3% (down 12.0 points YoY)
• Net loss: $5.0M (improved 51.1% YoY)

Full Year 2024 results:

• Net revenues: $9.1M (down 43.0% YoY)
• Gross margin: 55.6% (up 13.6 points YoY)
• Net loss: $12.4M (improved 44.9% YoY)

The company reduced its debt by nearly 50% during 2024 and maintains liquidity of $1.4M in cash and equivalents, $5.7M in net accounts receivable, and $3.0M in inventory.

GCT Semiconductor Holding (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, has scheduled its fourth quarter and full year 2024 financial results announcement for March 25, 2025, after market close.

The company will host a conference call and live webcast at 4:30 p.m. ET (1:30 p.m. PT) on the same day. The event will include a business update, financial results review, and a Q&A session. Interested parties can access the webcast through the Investors section of GCT's website, with a replay available at investors.gctsemi.com.

GCT Semiconductor (NYSE: GCTS) and Globalstar have announced a strategic partnership to develop two-way satellite messaging systems for mobile devices and modules. The collaboration will utilize GCT's IoT chip GDM7243i in Globalstar's RM200M product, with future implementations incorporating GCT's 4G LTE chip GDM7243SL and 5G IoT-enabled chipset.

The partnership aims to enable seamless connectivity across cellular, private and satellite networks worldwide. Globalstar selected GCT's solution after evaluating multiple options, citing the narrowband and low-power capabilities of GDM7243i combined with the flexible multi-mode GDM7243SL as key factors.

Both companies will showcase their solutions at Mobile World Congress in Barcelona (March 3-6, 2025) and plan to collaborate on developing several LTE and IoT products to enhance Globalstar's solution portfolio.

GCT Semiconductor (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, has announced its participation in three major events. The company will attend the Oppenheimer 10th Annual Emerging Growth Conference on February 25-26 as a virtual event, where management will be available for one-on-one meetings.

Additionally, GCT will showcase at the Mobile World Congress Barcelona from March 3-6, hosting a booth in Hall 5 (5J56) at Fira Gran Via. The company will also participate in the 37th Annual ROTH Conference from March 16-18, 2025, at The Laguna Cliffs Marriott in Dana Point, CA, where executives will be available for individual meetings.

GCT Semiconductor (NYSE: GCTS), a designer and supplier of advanced 5G and 4G semiconductor solutions, announced its participation in the Aramco Digital event in collaboration with the 450 MHz Alliance, held January 20-22 in Dhahran, Saudi Arabia. The event focuses on advancements in private networks using the 450 MHz spectrum.

Frank Jungman, VP of Technical Marketing at GCT, will present at a panel discussion on 'Evolving technologies, devices and MCX innovations' on January 21. The discussion will cover chipset advancements for the 450 MHz band, ecosystem evolution, and the role of AI and ML in network optimization.

CEO John Schlaefer emphasized GCT's commitment to strengthening their partnership with Aramco as they prepare for their 5G chipset launch.

GCT Semiconductor Holding (NYSE: GCTS) has signed a definitive agreement with a European tier one wireless infrastructure provider to develop Fixed Wireless Access (FWA) technology using GCT's 5G solutions. This follows their MOU signing in August 2024 and builds on an existing customer relationship. The FWA devices launch is expected in H2 2025. According to the Ericsson Mobility Report, 5G FWA connections are projected to grow from ~30 million to ~280 million between 2023 and 2029, representing an 800% increase.

GCT Semiconductor (NYSE: GCTS) reported Q3 2024 financial results with net revenues of $2.6 million, showing a 77.8% sequential increase from last quarter but a 42% decrease year-over-year. The company achieved a gross margin of 62.3% and signed an MOU with a global tier one telecommunications supplier for Fixed Wireless Access devices development. Volume shipments of 5G chipsets are expected to commence in H1 2025. The company extended approximately $22.6 million of current liabilities into 2025 and is in discussions with potential investors for additional capital. R&D expenses increased 78% to $4.2 million, primarily due to 5G chip development.

GCT Semiconductor Holding (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, has announced its participation in two upcoming investor conferences. The company will attend the 13th Annual ROTH Technology Conference on November 20, 2024, at the Hard Rock Hotel in New York City, where management will be available for one-on-one meetings. Additionally, GCT's management team will present at the Sidoti Small-Cap Virtual Conference scheduled for December 4-5, 2024.