GCT Semiconductor Q1 revenue up 7% to $3.3M; income from operations positive on $14.6M contract gain

GCT Semiconductor Holding, Inc.

2024-Q1 EPS reported $0.03 revenue$3,265,000

Revenue $3.3M, up 7% YoY; gross margin improved to 60% from 50%.
Income from operations $7.2M includes $14.6M gain from Samsung contract termination.
Cash $16.1M; entered $50M ELOC with B. Riley affiliate on April 23.
5G chipset sampling expected Q4 2024; volume shipments in 1H 2025.
Signed MOU with Aramco for 4G/5G ecosystem development in Saudi Arabia.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GCT Semiconductor Holding, Inc. reported the first quarter ended March 31, 2024 results: revenue $3.3 million.

Period: the first quarter ended March 31, 2024
Revenue: $3.3 million
Result: reported results

Exact text from the filing

GCT Semiconductor Holding, Inc. (“GCT” or the “Company”) (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, today reported financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Summary and Recent Operational Highlights · Revenues up by 7% as compared to the same quarter in 2023, to $3.3 million.

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GCT Semiconductor Holding, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-061180

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