GSI Technology Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>GSI Technology Inc. filed its quarterly 10-Q report for the period ending December 31, 2023.</b>

AI Summary

GSI TECHNOLOGY INC (GSIT) filed a Quarterly Report (10-Q) with the SEC on February 2, 2024. GSI Technology Inc. reported financial results for the period ending December 31, 2023. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on March 31. Key dates include the filing date of February 2, 2024. The report covers the third quarter of the fiscal year.

Why It Matters

For investors and stakeholders tracking GSI TECHNOLOGY INC, this filing contains several important signals. This filing provides investors with an update on the company's financial performance and position during the most recent quarter. Understanding the details within this 10-Q is crucial for assessing GSI Technology's current operational health and future prospects.

Risk Assessment

Risk Level: low — GSI TECHNOLOGY INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress indicators or major strategic shifts that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand revenue trends, profitability, and any forward-looking statements.

Key Numbers

• 20231231 — Period of Report (Quarterly report end date)
• 20240202 — Filing Date (Date the report was filed)
• 0331 — Fiscal Year End (Company's fiscal year end month and day)

Key Players & Entities

• GSI TECHNOLOGY INC (company) — Filer name
• 20231231 (date) — Period of report
• 20240202 (date) — Filed as of date
• 0001126741 (company) — Central Index Key
• 3674 (industry) — Standard Industrial Classification (Semiconductors & Related Devices)
• 770398779 (company) — IRS Number
• 0331 (date) — Fiscal year end
• 10-Q (form) — Form type

Forward-Looking Statements

• GSI Technology will continue to report net losses in the next fiscal quarter. (GSI Technology Inc.) — medium confidence, target: 2024-03-31

FAQ

Industry Context

GSI Technology Inc. operates in the Semiconductors & Related Devices industry.

Regulatory Implications

This filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze revenue and net income trends for the quarter.
2. Examine the balance sheet for changes in assets, liabilities, and equity.
3. Review management's discussion and analysis for insights into business operations and outlook.

Key Dates

• 2024-02-02: Filing Date — Official date the 10-Q report was submitted to the SEC.
• 2023-12-31: Period End Date — The end date of the reporting period for this 10-Q.

Year-Over-Year Comparison

This is a standard quarterly filing (10-Q) for the period ending December 31, 2023. Specific comparative data from the previous filing is not detailed in this header information.

Key Financial Figures

• $0.001 — nge on which Registered Common Stock, $0.001 par value GSIT The Nasdaq Stock Mar

Filing Documents

• gsit-20231231x10q.htm (10-Q) — 1731KB
• gsit-20231231xex31d1.htm (EX-31.1) — 17KB
• gsit-20231231xex31d2.htm (EX-31.2) — 16KB
• gsit-20231231xex32d1.htm (EX-32.1) — 11KB
• 0001558370-24-000715.txt (&nbsp;) — 7973KB
• gsit-20231231.xsd (EX-101.SCH) — 42KB
• gsit-20231231_cal.xml (EX-101.CAL) — 60KB
• gsit-20231231_def.xml (EX-101.DEF) — 142KB
• gsit-20231231_lab.xml (EX-101.LAB) — 402KB
• gsit-20231231_pre.xml (EX-101.PRE) — 291KB
• gsit-20231231x10q_htm.xml (XML) — 1740KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive Loss 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 27

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 5. Other information 46 Item 6. Exhibits 46

Signatures

Signatures 47 1 Table of Contents

— FINANCIAL INFORMATIO N

PART I — FINANCIAL INFORMATIO N

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) GSI TECHNOLOGY, INC. CONDENSED CONSOLIDATED BALANCE SHEET S (Unaudited) December 31, March 31, 2023 2023 (In thousands, except share and per share amounts) ASSETS Cash and cash equivalents $ 21,575 $ 27,212 Short-term investments — 3,363 Accounts receivable, net 2,377 3,471 Inventories 5,504 6,415 Prepaid expenses and other current assets ($ 375 and $ 0 from a related party) 2,079 1,414 Total current assets 31,535 41,875 Property and equipment, net 6,916 7,423 Operating lease right-of-use assets 887 684 Goodwill 7,978 7,978 Intangible assets, net 1,614 1,790 Deposits 125 126 Total assets $ 49,055 $ 59,876 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable ($ 394 and $ 8 to a related party) $ 1,279 $ 1,621 Lease liabilities, current 346 413 Accrued expenses and other liabilities 6,795 5,168 Total current liabilities 8,420 7,202 Deferred tax liability 14 12 Lease liabilities, non-current 542 238 Contingent consideration, non-current 495 1,052 Total liabilities 9,471 8,504 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock: $ 0.001 par value authorized: 5,000,000 shares; issued and outstanding: none — — Common Stock: $ 0.001 par value authorized: 150,000,000 shares; issued and outstanding : 25,295,047 and 24,685,059 shares, respectively 25 25 Additional paid-in capital 59,891 55,953 Accumulated other comprehensive loss ( 87 ) ( 127 ) Retained deficit ( 20,245 ) ( 4,479 ) Total stockholders' equity 39,584 51,372 Total liabilities and stockholders' equity $ 49,055 $ 59,876 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 Table of Contents GSI TECHNOLOGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATION S (Unaudited) Three Months Ended December 31, Nine Months Ended December 31,

View Full Filing

View this 10-Q filing on SEC EDGAR