The following is a summary of the GSI Technology, Inc. (GSIT) Q4 2024 Earnings Call Transcript:
Financial Performance:
GSI Technology reported a Q4 net loss of $4.3 million or $0.17 per diluted share, on net revenues of $5.2 million.
Ended fiscal 2024 with a net loss of $20.1 million, or $0.80 per diluted share, on net revenues of $21.8 million.
Cash and cash equivalents amounted to $14.4 million.
Gross margin for fiscal 2024 was 54.3% compared to 59.6% a year prior.
Business Progress:
During Q4, initiated the launch of two high-capacity servers integrated with Gemini-I APU for SAR and Fast Vector Search applications.
Ongoing progress with Gemini-II testing, with plans to complete this phase by the end of Q2.
Expect to secure first sales of Gemini-I in the second half of fiscal 2025.
Aiming to commence customer sampling of Gemini-II later this year, and secure strategic partnerships for Gemini-III.
An ongoing strategic review aims to maximize stockholder value, considering options such as equity or debt financing, and the divestiture of assets.
Plans to maintain legacy sales at the current run rate, and focus on the Gemini-I sales for SaaS solution.
More details: GSI Technology IR
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