Loading...
•
Jun 30, 2022
Gsi Technology Q1 2023 Earnings Report
Reported first quarter fiscal 2023 results with increased gross profit and narrowed net loss.
Key Takeaways
GSI Technology reported a net loss of $4.0 million on net revenues of $8.9 million for the first quarter of fiscal 2023. Gross margin improved to 60.2%. The company is advancing APU opportunities, with Searchium.ai expected to launch for alpha users in August and go live later in the year. They expect net revenues in a range of $8.5 million to $9.5 million, with gross margin of approximately 61% to 63% for the second fiscal quarter.
Net revenues for the first quarter of fiscal 2023 were $8.9 million, compared to $8.8 million for the first quarter of fiscal 2022.
Net loss was $(4.0 million), or $(0.16) per diluted share, compared to a net loss of $(4.2 million), or $(0.17) per diluted share, for the first quarter of fiscal 2022.
Gross margin was 60.2%, compared to 54.4% in the prior year quarter.
Cash, cash equivalents, and short-term investments totaled $41.5 million as of June 30, 2022.
Revenue by Geographic Location
Forward Guidance
The company's current expectations for the second fiscal quarter are net revenues in a range of $8.5 million to $9.5 million, with gross margin of approximately 61% to 63%.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...