SUNNYVALE, Calif., July 30, 2026 (GLOBE NEWSWIRE) —
- Se ti el labo ato y testi g completed eceivi g favo able feedback f om all pa ties, with GSI successfully delive i g all pla ed tech ical milesto es
- Sma t City Phase I deployme t emai s o schedule fo completio i Novembe 2026
- Plato developme t emai s o schedule fo Ma ch 2027 tape-out
- Reve ue of $6.3 millio i -li e with mid-poi t of guida ce, flat with p io qua te a d p evious yea , eflecti g co ti ued stability i SRAM eve ue
- I c ease i ope ati g expe se yea -ove -yea is elated to o goi g Plato chip desig , with R&D offset f om SBIR helpi g to educe cash bu
- Qua te -e d cash bala ce of $77.0 millio st e gthe ed th ough ATM p oceeds a d employee optio exe cises du i g the qua te
Lee-Lea Shu, Chai ma a d Chief Executive Office , stated, “Du i g the fi st qua te , we co ti ued executi g the ext phase of ou Edge AI st ategy. Havi g validated Gemi i-II’s exceptio al pe fo ma ce-pe watt, ou focus has shifted to comme cializi g the tech ology. Th oughout the qua te , we adva ced ou key p oof-of-co cept p og ams, i cludi g successfully completi g the Se ti el labo ato y phase, keepi g ou Sma t City Phase I deployme t o schedule, a d i itiati g wo k u de ou U.S. A my Phase II SBIR p og am. We also successfully completed adiatio testi g o a sta da d comme cial Gemi i-II device, demo st ati g that it co ti ued to ope ate o mally u de adiatio levels ep ese tative of ha sh ae ospace e vi o me ts. Togethe , these i itiatives adva ce ou comme cializatio st ategy by expa di g the a ge of applicatio s Gemi i-II ca add ess while positio i g us fo b oade custome adoptio .”
M . Shu co ti ued, “Looki g ahead, ou p io ities emai clea : successfully completi g ou cu e t p oof-of-co cept p ojects, expa di g Gemi i-II i to adjace t applicatio s, a d delive i g ou AI-assisted SDK, which emai s o t ack fo elease this Septembe . The AI-assisted SDK is expected to sig ifica tly accele ate softwa e developme t, simplify applicatio deployme t, a d p ovide the fou datio fo wo ki g with a b oade etwo k of pa t e s a d system i teg ato s. At the same time, Plato emai s o schedule fo tape-out i Ma ch 2027 a d is expected to sig ifica tly expa d ou add essable ma ket by e abli g la ge la guage models at the edge with powe co sumptio below 10 watts. Suppo ted by the co ti ued st e gth of ou SRAM busi ess, we believe we a e well positio ed to execute ou st ategy a d build lo g-te m value fo ou sha eholde s.”
Comme ti g o the outlook fo GSI’s seco d qua te of fiscal 2027, M . Shu stated, “Ou cu e t expectatio fo the seco d qua te of fiscal 2027 is fo et eve ues i the a ge of $5.7 millio to $6.5 millio , with g oss ma gi of app oximately 53% to 55%.”
The Compa y epo ted et eve ues of $6.3 millio fo the fi st qua te of fiscal 2027, compa ed to $6.3 millio fo the fi st qua te of fiscal 2026 a d $6.3 millio fo the fou th qua te of fiscal 2026. G oss ma gi was 53.4% i the fi st qua te of fiscal 2027 compa ed to 58.1% i the fi st qua te of fiscal 2026 a d 52.4% i the p ecedi g fou th qua te of fiscal 2026. The yea -ove -yea dec ease i g oss ma gi i the fi st qua te of fiscal 2027 was p ima ily due to p oduct mix.
Below is a b eakdow of the fi st qua te of fiscal 2027 sales compa ed to the fi st qua te of fiscal 2026 a d the fou th qua te of fiscal 2026:
- KYEC ep ese ted $1.0 millio , o 16.1% of et eve ues, compa ed to $267,000, o 4.3% of et eve ues, i the same pe iod a yea ago a d $1.4 millio , o 22.3% of et eve ues, i the p io qua te .
- Cade ce Desig s Systems ep ese ted $465,000, o 7.4% of et eve ues, compa ed to $1.5 millio , o 23.9% of et eve ues, i the same pe iod a yea ago, a d o shipme ts i the p io qua te .
- Nokia ep ese ted $307,000, o 4.9% of et eve ues, compa ed to $536,000, o 8.5% of et eve ues, i the same pe iod a yea ago a d $113,000, o 1.8% of et eve ues, i the p io qua te .
- Milita y/defe se sales we e 31.3% of fi st-qua te shipme ts, compa ed with 19.1% i the compa able pe iod a yea ago a d 45.7% i the p io qua te .
Total ope ati g expe ses i the fi st qua te of fiscal 2027 we e $8.8 millio , compa ed to $5.8 millio i the fi st qua te of fiscal 2026 a d $8.5 millio i the p io qua te . Resea ch a d developme t expe ses we e $5.9 millio , compa ed to $3.1 millio i the p io -yea pe iod a d $5.6 millio i the p io qua te . The yea -ove -yea i c ease i esea ch a d developme t expe ses du i g the fi st qua te of fiscal 2027 was d ive p ima ily by exte al desig se vices elated to the developme t of ou ext-ge e atio Plato p ocesso . The i c ease also eflects a lowe offset f om gove me t fu di g u de ou SBIR p og ams, which totaled $336,000 this qua te compa ed with $543,000 i the p io -yea pe iod. Selli g, ge e al a d admi ist ative expe ses we e $2.9 millio i the qua te e ded Ju e 30, 2026, compa ed to $2.7 millio i the p io yea qua te a d $2.9 millio i the p evious qua te .
Fi st qua te fiscal 2027 ope ati g loss was $5.4 millio compa ed to a ope ati g loss of $2.2 millio i the p io -yea pe iod a d $5.2 millio i the p io qua te . Fi st qua te fiscal 2027 esults i cluded i te est a d othe i come of $517,000 a d a tax be efit of ($76,000), compa ed to i te est a d othe i come of $13,000 a d a tax p ovisio of $54,000 fo the same pe iod a yea ago a d i te est a d othe i come of $408,000 a d a tax p ovisio of $24,000 i the p io qua te .
Net loss i the fi st qua te of fiscal 2027 was $4.8 millio , o $(0.13) pe diluted sha e, compa ed to a et loss of $2.2 millio , o $(0.08) pe diluted sha e, fo the fi st qua te of fiscal 2026 a d a et loss of $4.8 millio , o $(0.13) pe diluted sha e, fo the fou th qua te of fiscal 2026.
Total fi st qua te p e-tax stock-based compe satio expe se was $887,000 compa ed to $341,000 i the compa able qua te a yea ago a d $823,000 i the p io qua te .
Cash flows fo the qua te e ded Ju e 30, 2026 (i thousa ds of dolla s):
| Cash a d cash equivale ts as of Ma ch 31, 2026 | $67,212 | Net cash used i ope ati g activities | (3,858) | Net cash used by i vesti g activities | (358) | Net cash p ovided by fi a ci g activities | 14,049 | Cash a d cash equivale ts as of Ju e 30, 2026 | $77,045 |
The i c ease i cash a d cash equivale ts as of Ju e 30, 2026, p ima ily eflects et p oceeds of $9.3 millio f om the sales of stock th ough the ATM, a d $4.8 millio i p oceeds f om employee stock optio exe cises. Cash used i ope ati g activities i cludes spe di g fo the developme t of Plato a d comme cializatio of Gemi i-II.
O Ju e 30, 2026, the Compa y had $77.0 millio i cash a d cash equivale ts, compa ed to $67.2 millio at Ma ch 31, 2026. Wo ki g capital was $80.0 millio as of Ju e 30, 2026, ve sus $70.0 millio at Ma ch 31, 2026. Stockholde s’ equity as of Ju e 30, 2026, was $91.9 millio , compa ed to $81.8 millio as of the fiscal yea e ded Ma ch 31, 2026.
Ma ageme t will co duct a co fe e ce call to eview the Compa y’s fi a cial esults fo the fi st qua te of fiscal yea 2027, a d its cu e t outlook fo the seco d qua te of fiscal 2027 at 1:30 p.m. Pacific time (4:30 p.m. Easte Time) today.
To pa ticipate i the call, please dial 1-877-407-3982 i the U.S. o 1-201-493-6780 fo i te atio al app oximately 10 mi utes p io to the above sta t time a d p ovide Co fe e ce ID 13761498. The call will also be st eamed live via the i te et at www.gsitech ology.com.
A eplay will be available f om July 30, 2026, at 7:30 p.m. Easte Time th ough August 6, 2026, at 11:59 p.m. Easte Time by diali g 1-844-512-2921 i the U.S. o 1-412-317-6671 fo i te atio al a d p ovidi g Access ID 13761498. A webcast of the call will be a chived o the Compa y’s i vesto elatio s website u de the Eve ts a d P ese tatio s tab.
GSI Tech ology is at the fo ef o t of the AI evolutio with ou g ou db eaki g APU tech ology, desig ed fo u pa alleled efficie cy i billio -item database sea ches a d high-pe fo ma ce computi g. GSI’s i ovatio s, Gemi i-I® a d Gemi i-II®, offe scalable, low-powe , high-capacity computi g solutio s that edefi e edge computi g capabilities.
GSI Tech ology is headqua te ed i Su yvale, Califo ia, a d has sales offices i the Ame icas, Eu ope, a d Asia. Fo mo e i fo matio , please visit www.gsitech ology.com.
The stateme ts co tai ed i this p ess elease that a e ot pu ely histo ical a e fo wa d-looki g stateme ts withi the mea i g of Sectio 21E of the Secu ities Excha ge Act of 1934, as ame ded, i cludi g stateme ts ega di g GSI Tech ology’s expectatio s, beliefs, i te tio s, o st ategies ega di g the futu e. These fo wa d-looki g stateme ts i clude, amo g othe s, stateme ts ega di g ou p oduct oadmap a d comme cializatio milesto es fo Gemi i-II a d Plato; the timely developme t a d elease of ou AI-assisted SDK a d ma ket adoptio of elated tools; ou pu suit of i itial desig wi s i defe se a d select comme cial edge deployme ts; the timi g a d successful completio of p oof-of-co cept p og ams, i cludi g ou Sma t City Phase I deployme t; a ticipated be efits f om gove me t p oof-of-co cept e gageme ts a d elated fu di g, i cludi g u de ou SBIR p og ams; ou expectatio s ega di g futu e eve ue a d g oss ma gi , i cludi g the guida ce p ovided fo ou seco d qua te of fiscal 2027, dema d fo ou SRAM solutio s, a d custome mix; a d the i te p etatio a d applicability of thi d-pa ty be chma k esults a d e e gy/pe fo ma ce cha acte istics of ou p oducts. All fo wa d-looki g stateme ts i cluded i this p ess elease a e based upo i fo matio available to GSI Tech ology as of the date he eof, a d GSI Tech ology assumes o obligatio to update a y such fo wa d-looki g stateme ts. Fo wa d-looki g stateme ts i volve a va iety of isks a d u ce tai ties, which could cause actual esults to diffe mate ially f om those p ojected. These isks i clude those associated with the o mal qua te ly a d fiscal yea -e d closi g p ocess. Examples of isks that could affect ou cu e t expectatio s ega di g futu e eve ues a d g oss ma gi s i clude those associated with fluctuatio s i GSI Tech ology’s ope ati g esults; GSI Tech ology’s histo ical depe de ce o sales to a limited umbe of custome s a d fluctuatio s i the mix of custome s a d p oducts i a y pe iod; global public health c ises that educe eco omic activity; the apidly evolvi g ma kets fo GSI Tech ology’s p oducts a d u ce tai ty ega di g the developme t of these ma kets; the eed to develop a d i t oduce ew p oducts to offset the histo ical decli e i the ave age u it selli g p ice of GSI Tech ology’s p oducts; the isk that p oof-of-co cepts, pilot p og ams, o be chma k validatio s do ot t a slate i to desig wi s, pu chase o de s, o eve ue, i cludi g with espect to ou defe se a d ae ospace- elated p og ams such as ou Se ti el a d adiatio testi g i itiatives; the compa ability a d ge e alizability of thi d-pa ty be chma k esults a d e e gy/pe fo ma ce met ics ac oss diffe e t co figu atio s a d use cases; i te sive competitio ; the availability, timi g a d co ti uity of gove me t fu di g oppo tu ities; delays o u a ticipated costs that may be e cou te ed i the developme t of ew p oducts based o ou i -place associative computi g tech ology (i cludi g Gemi i-II a d Plato) a d the establishme t of ew ma kets a d custome a d pa t e elatio ships fo the sale of such p oducts; a d delays o u expected challe ges elated to the establishme t of custome elatio ships a d o de s fo GSI Tech ology’s adiatio -ha de ed a d tole a t SRAM p oducts. Ma y of these isks a e cu e tly amplified by a d will co ti ue to be amplified by, o i the futu e may be amplified by, eco omic a d geopolitical co ditio s, such as cha gi g i te est ates, wo ldwide i flatio a y p essu es, policy u p edictability, the impositio of ta iffs a d othe t ade ba ie s, milita y co flicts, pa ticula ly i elatio to Taiwa , a d challe ges i the global eco omic e vi o me t. Fu the i fo matio ega di g these a d othe isks elati g to GSI Tech ology’s busi ess is co tai ed i the Compa y’s fili gs with the Secu ities a d Excha ge Commissio , i cludi g those facto s discussed u de the captio “Risk Facto s” i such fili gs.
Sou ce: GSI Tech ology, I c.
Hayde IRKim Roge s385-831-7337kim@hayde i .com
Fi Pa t e s fo GSI Tech ologyRicca Silve io415-348-2724gsi@fi pa t e s.com
GSI Tech ology, I c.Douglas M. Schi leChief Fi a cial Office 408-331-9802
| Net eve ues | $6,312 | $6,319 | $6,283 | Cost of goods sold | 2,943 | 3,008 | 2,632 | G oss p ofit | 3,369 | 3,311 | 3,651 | Ope ati g expe ses: | Resea ch & developme t | 5,899 | 5,625 | 3,097 | Selli g, ge e al a d admi ist ative | 2,855 | 2,894 | 2,730 | Total ope ati g expe ses | 8,754 | 8,519 | 5,827 | Ope ati g i come (loss) | (5,385 | ) | (5,208 | ) | (2,176 | ) | I te est a d othe i come, et | 517 | 408 | 13 | I come (loss) befo e i come taxes | (4,868 | ) | (4,800 | ) | (2,163 | ) | P ovisio fo i come taxes | (76 | ) | 24 | 54 | Net i come (loss) | ($4,792 | ) | ($4,824 | ) | ($2,217 | ) | Net i come (loss) pe sha e, basic | ($0.13 | ) | ($0.13 | ) | ($0.08 | ) | Net i come (loss) pe sha e, diluted | ($0.13 | ) | ($0.13 | ) | ($0.08 | ) | Weighted-ave age sha es used i | computi g pe sha e amou ts: | Basic | 37,346 | 36,294 | 26,967 | Diluted | 37,346 | 36,294 | 26,967 | Stock-based compe satio i cluded i the Co de sed Co solidated Stateme ts of Ope atio s: | Cost of goods sold | $70 | $68 | $44 | Resea ch & developme t | 260 | 346 | (62 | ) | Selli g, ge e al a d admi ist ative | 557 | 409 | 359 | $887 | $823 | $341 |
| Ju e 30, 2026 | Ma ch 31, 2026 | Cash a d cash equivale ts | $77,045 | $67,212 | Accou ts eceivable | 2,507 | 4,237 | I ve to y | 4,542 | 4,079 | Othe cu e t assets | 5,698 | 3,659 | Net p ope ty a d equipme t | 1,126 | 883 | Ope ati g lease ight-of-use assets | 7,933 | 8,264 | Othe assets | 9,679 | 9,619 | Total assets | $108,530 | $97,953 | Cu e t liabilities | $9,801 | $9,196 | Lo g-te m liabilities | 6,824 | 6,996 | Stockholde s’ equity | 91,905 | 81,761 | Total liabilities a d stockholde s’ equity | $108,530 | $97,953 |
