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GSI Technology, Inc. Announces Second Quarter of Fiscal Year 2027 Results

GSIT
  • GSI Technology reported second-quarter fiscal 2027 net revenues of $6.0 million, falling within the guidance range of $5.7 million to $6.5 million.
  • The Smart Guardian Eye project commenced live AI video monitoring following Hsinchu County government acceptance of Phase I.
  • The Plato chip development remains on schedule for a March 2027 tape-out with first-spin chips targeted for sampling in late summer 2027.
  • An alpha version of the AI-assisted software development kit (SDK) is undergoing internal trial with a beta release expected before December 2026.
  • Total operating expenses rose to $10.4 million from $6.7 million in the prior-year quarter, driven by Plato design consultants, Gemini-II commercialization, and non-routine legal fees.
  • The company reported a net loss of $7.0 million, or $0.18 per diluted share, compared to a $3.2 million loss in the same period last year.
  • Gross margin decreased to 48.5% due to unfavorable product mix, supply chain constraints, and higher manufacturing costs for wafers and assembly.
  • KYEC sales reached $1.2 million while military and defense sales accounted for 46.7% of shipments.
  • Management plans to implement price increases immediately for new orders and effective January 1, 2027, for existing backlog to address manufacturing costs.
  • Third-quarter fiscal 2027 net revenue guidance is set between $5.0 million and $6.0 million with a gross margin expectation of 38% to 40%.
  • Cash and cash equivalents totaled $69.2 million as of September 30, 2026, reflecting spending on Plato development and non-routine SG&A expenses.
Company
GSI Technology, Inc.
Keywords
Nasdaq:GSIT, GSI Technology, Inc., ai, artificial intelligence, deeplearning, lowpower, Technology