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Jun 30, 2023
Gsi Technology Q1 2024 Earnings Report
GSI Technology reported a net loss for Q1 2024, with decreased revenue and gross margin compared to the previous year.
Key Takeaways
GSI Technology reported a net loss of $5.1 million on net revenues of $5.6 million for the first quarter of fiscal 2024. Gross margin was 54.9%. The company is focusing on securing IP licensing agreements for Gemini-II and progressing with a major hyper scaler.
Net revenues were $5.6 million, compared to $8.9 million in the first quarter of fiscal 2023.
Net loss was $5.1 million, or $0.21 per diluted share, compared to a net loss of $4.0 million, or $0.16 per diluted share, in the first quarter of fiscal 2023.
Gross margin was 54.9%, compared to 60.2% in the prior-year period.
Cash, cash equivalents, and short-term investments were $27.7 million as of June 30, 2023.
Revenue by Geographic Location
Forward Guidance
Current expectations for the upcoming fiscal second quarter are net revenues in a range of $5.2 million to $6.0 million, with gross margin of approximately 56% to 58%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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