GSI Technology reported first quarter fiscal 2025 revenue of $4.7 million, within their guidance range, but lower than the previous year. The company is focusing on new business lines with Gemini-I and Gemini-II to reverse the revenue decline and achieve financial stability. Cash and cash equivalents were $21.8 million at the end of the quarter.
First quarter revenue was $4.7 million, within the guidance range.
Cash and cash equivalents reached $21.8 million due to the sale and leaseback transaction.
The company is focused on introducing new business lines with Gemini-I and Gemini-II.
Customer sampling of Gemini-II software is expected to begin in early calendar 2025.
GSI Technology expects net revenues to be in the range of $4.2 million to $4.8 million for the second quarter of fiscal 2025, with a gross margin of approximately 44% to 46%.
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