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Sep 30, 2024
GCT Q3 2024 Earnings Report
Reported a sequential increase in net revenues and a higher gross margin due to changes in product mix.
Key Takeaways
GCT Semiconductor Holding, Inc. reported a decrease in net revenues compared to the same quarter last year, but experienced a sequential increase from the previous quarter. The company is progressing towards volume shipments of 5G chipsets in the first half of 2025 and has signed an MOU with a global tier one telecommunications supplier.
Volume shipments of 5G chipsets are expected to commence in the first half of 2025.
Net revenues increased sequentially by 77.8% from the last quarter.
Gross margin increased to 62.3%.
A memorandum of understanding was signed with a global tier one telecommunications supplier for 5G chipset development.
GCT
GCT
Forward Guidance
The company anticipates commencing volume shipments of 5G chipsets in the first half of 2025.