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Dec 31, 2023
Gsi Technology Q3 2024 Earnings Report
GSI Technology reported a net loss of $6.6 million on net revenues of $5.3 million for the third quarter of fiscal 2024.
Key Takeaways
GSI Technology reported third quarter fiscal year 2024 results, with revenue at the low end of guidance. The company achieved key milestones including radiation testing for Gemini-I and completion of Gemini-II tape out. An infrequent $2.4 million charge for a pre-production mask set for Gemini-II increased operating expenses for the quarter and contributed to a higher operating loss compared to the second quarter of fiscal 2024.
Net revenues for the third quarter of fiscal 2024 were $5.3 million, compared to $6.4 million for the third quarter of fiscal 2023.
The company reported a net loss of $6.6 million, or $0.26 per diluted share, for the third quarter of fiscal 2024, compared to a net loss of $4.8 million, or $0.20 per diluted share, for the third quarter of fiscal 2023.
Gross margin was 55.9% compared to 57.5% in the prior year period.
At December 31, 2023, the Company had $21.6 million in cash and cash equivalents.
Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal year 2024, the company anticipates net revenues in a range of $4.8 million to $5.4 million, with gross margin of approximately 55% to 57%.
Historical Earnings Impact
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