Gsi Technology Stock Price, News & Analysis

On September 27, 2022, GSI Technology (GSIT) announced that its Synthetic Aperture Radar (SAR) image processing acceleration system, utilizing its Gemini^® Associative Processing Unit (APU) technology, has been approved for use by IAI/Elta System Ltd, a subsidiary of Israeli Aerospace Industries. The system passed all quality and performance tests and achieved a processing time reduction from minutes to seconds, operating with 88% less power compared to traditional CPU/GPU systems. This recognition enhances GSI's position in defense technology and expands its market opportunities.

GSI Technology reported a net loss of $4.0 million for Q1 FY2023, with revenues of $8.9 million. Despite a slight revenue increase compared to $8.8 million in Q1 FY2022, the net loss per share improved to $0.16 from $0.17 year-over-year. The company achieved a gross margin of 60.2%, up from 54.4% a year earlier. Operating expenses rose to $9.3 million, while R&D costs amounted to $6.6 million. GSI forecasts Q2 FY2023 revenues between $8.5 million and $9.5 million, with a gross margin of 61% to 63%. The company maintains a strong balance sheet with no debt and $41.5 million in cash.

GSI Technology, Inc. (Nasdaq: GSIT) will announce its first quarter fiscal year 2023 financial results on July 28, 2022, after market close. The announcement will precede a conference call at 1:30 p.m. PST to discuss the results and provide guidance for the second quarter. GSI focuses on high-performance memory solutions and recently introduced its Gemini Associative Processing Unit (APU), optimized for AI and parallel computing. This architecture aims to enhance performance and efficiency in various applications, including image detection and speech recognition.

GSI Technology, Inc. (NASDAQ: GSIT) revised its financial results for the fourth quarter and fiscal year ended March 31, 2022. The revision led to a reduction of approximately $1.3 million in selling, general, and administrative expenses, decreasing the contingent consideration liability. Fiscal year revenue grew over 20% to $33.4 million, with a gross margin of 55.5%. The company reported a net loss of $(16.4 million) for the year, an improvement from $(21.5 million) in the previous year. For Q1 fiscal 2023, expected revenues are between $8.5 million and $9.5 million, with a gross margin of 60%-62%.

GSI Technology, Inc. (NASDAQ: GSIT) reported its financial results for Q4 and FY 2022, highlighting a revenue increase of over 20% year-over-year to $33.4 million. Q4 revenue rose by 8% to $8.7 million, with gross margin improving to 58.6%, up from 50.2% a year prior. Despite a net loss of $(4.3 million) in Q4, the company's operating loss narrowed to $(4.3 million) from $(5.3 million) last year. The company anticipates Q1 FY 2023 net revenues between $8.5 million and $9.5 million, with a gross margin of 60% to 62%. GSI maintains a strong balance sheet with $44 million in cash and no debt.

GSI Technology, Inc. (Nasdaq: GSIT) will announce its financial results for the fourth quarter of fiscal 2022 on May 5, 2022, after market close. The announcement will be followed by a conference call at 1:30 PM PT to discuss the financial results and the first-quarter outlook for fiscal 2023. GSI specializes in high-performance memory solutions and AI processing units, recently launching radiation-hardened memory products for extreme environments. Investors can participate in the call by dialing specific numbers or accessing it online through their website.

GSI Technology, Inc. (Nasdaq: GSIT) announced a victory in the MoSAIC Challenge, securing first place in the Human/Object Tagging category. This win highlights their software's capability to detect, classify, and track humans and objects in real-time HD video. The achievement builds on previous success in the MAFAT Radar Challenge and positions GSI favorably with the U.S. Department of Defense and Israeli defense organizations. The MoSAIC Challenge aims to enhance autonomous indoor navigational technology, addressing key technological gaps.

GSI Technology, Inc. (NASDAQ: GSIT) reported its third fiscal quarter results for the period ended December 31, 2021, with net revenues of $8.1 million, a 19% increase year-over-year. Gross margin improved to 55.3% from 47.3% a year ago. However, the company posted a net loss of $4.6 million, consistent with the previous quarter. GSI plans to release an APU Compiler Stack in February 2022 to enhance software development for high-performance computing. Current expectations for the upcoming quarter indicate net revenues of $7.5 million to $8.5 million due to ongoing supply chain constraints.