GSI Tech Q1 net loss widens to $5.1M on revenue decline; guides Q2 rev $5.2-6.0M

GSI TECHNOLOGY INC

2024-Q1 EPS reported -$0.21 revenue$5,587,000

Net revenues $5.6M, down 37% YoY from $8.9M; net loss $(0.21)/share vs $(0.16)/share YoY.
Gross margin 54.9% vs 60.2% YoY; operating loss $(5.1M) vs $(3.9M).
Cash, equivalents & ST investments $27.7M at quarter end, down from $30.6M; no debt.
Q2 guidance: net revenue $5.2M-$6.0M, gross margin 56%-58%.
Gemini-II tape-out on track for September quarter; new APU space wins announced.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GSI TECHNOLOGY INC reported first fiscal quarter ended June 30, 2023 results: revenue $5.6 million, net income $(5.1 million), EPS $(0.21) per diluted share. Guidance initiated.

Period: first fiscal quarter ended June 30, 2023
Revenue: $5.6 million
Net income: $(5.1 million)
EPS: $(0.21) per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

The Company reported a net loss of $(5.1 million), or $(0.21) per diluted share, on net revenues of $5.6 million for the first quarter of fiscal 2024, compared to a net loss of $(4.0 million), or $(0.16) per diluted share, on net revenues of $8.9 million for the first quarter of fiscal 2023 and a net loss of $(4.0 million), or $(0.16) per diluted share, on net revenues of $5.4 million for the fourth quarter of fiscal 2023.

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Source: SEC EDGAR

accession 0001171843-23-004738

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