secwatch.observer — SEC 8-K summary
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Issuer:     GSI TECHNOLOGY INC (GSIT)
CIK:        0001126741
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001171843-24-004150
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GSI Tech Q1 revenue $4.7M, net income $1.1M from sale-leaseback gain; guides Q2 rev $4.2-4.8M
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- Net revenues $4.671M, down from $5.587M YoY; gross margin 46.3% vs 54.9%.
- Operating loss $4.657M; net income $1.078M ($0.04 diluted EPS) includes $5.7M one-time sale-leaseback gain.
- Cash and equivalents $21.8M, up from $14.4M at March 31, 2024; working capital $25.7M.
- Q2 FY2025 guidance: net revenues $4.2M-$4.8M, gross margin approximately 44%-46%.
- Board reduced from 7 to 6 members effective at 2024 annual meeting after director not standing for reelection.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1126741/000117184324004150/0001171843-24-004150-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1126741/000117184324004150/f8k_072524.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-004150

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