GSI Technology Q3 revenue rises, helped by demand for SRAM solutions
Overview
AI technology firm's fiscal Q3 revenue increased 12% yr/yr
Company reported a fiscal Q3 net loss of $3.0 mln
Company had announced POC with G2 Tech and government agencies, expecting $1 mln funding
Outlook
Company expects fiscal fourth-quarter net revenues between $5.7 mln and $6.5 mln
GSI Technology anticipates gross margin of 54% to 56% for fiscal fourth quarter
Company pursuing design wins for Gemini-II in defense and commercial edge deployments
Result Drivers
SRAM DEMAND - Revenue growth driven by sustained demand for SRAM solutions
GEMINI-II MILESTONES - Achieved key commercialization and validation milestones for Gemini-II
CASH INFUSION - Cash balance increased due to $46.9 mln net proceeds from Registered Direct Offering
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $6.08 mln |
|
Q3 EPS |
| -$0.09 |
|
Q3 Net Income |
| -$3.02 mln |
|
Q3 Operating Expenses |
| $10.11 mln |
|
Q3 Operating Income |
| -$6.91 mln |
|
Press Release: ID:nGNX3rjQq1
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