GSI Technology Files Q2 FY25 10-Q

TL;DR

GSI Tech's Q2 FY25 10-Q is in: check balance sheet and earnings for the latest numbers.

AI Summary

GSI Technology Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the second quarter of fiscal year 2025. Key financial data and balance sheet information as of September 30, 2024, were disclosed, including details on common stock, retained earnings, and additional paid-in capital.

Why It Matters

This filing provides investors with the latest financial performance and position of GSI Technology Inc., crucial for understanding the company's operational health and future prospects.

Risk Assessment

Risk Level: medium — As a technology company, GSI Technology operates in a dynamic and competitive market, subject to rapid technological changes and market fluctuations.

Key Numbers

• 2024-09-30 — Balance Sheet Date (End of the reporting period for the balance sheet.)
• 2024-07-01 to 2024-09-30 — Q2 FY25 Period (The specific quarter for which financial results are reported.)

Key Players & Entities

• GSI TECHNOLOGY INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241101 (date) — Filing Date
• SUNNYVALE, CA (location) — Business Address

FAQ

Key Financial Figures

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

Filing Documents

• gsit-20240930x10q.htm (10-Q) — 1668KB
• gsit-20240930xex31d1.htm (EX-31.1) — 17KB
• gsit-20240930xex31d2.htm (EX-31.2) — 16KB
• gsit-20240930xex32d1.htm (EX-32.1) — 11KB
• 0001558370-24-014139.txt ( ) — 7405KB
• gsit-20240930.xsd (EX-101.SCH) — 40KB
• gsit-20240930_cal.xml (EX-101.CAL) — 58KB
• gsit-20240930_def.xml (EX-101.DEF) — 134KB
• gsit-20240930_lab.xml (EX-101.LAB) — 391KB
• gsit-20240930_pre.xml (EX-101.PRE) — 282KB
• gsit-20240930x10q_htm.xml (XML) — 1513KB

— 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 18 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 26

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 5. Other information 45 Item 6. Exhibits 45

Signatures

Signatures 46 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) September 30, March 31, 2024 2024 (In thousands, except share and per share amounts) ASSETS Cash and cash equivalents $ 18,356 $ 14,429 Accounts receivable, net 2,411 3,118 Inventories 4,127 4,977 Prepaid expenses and other current assets ($ 375 and $ 375 from a related party) 1,724 1,954 Assets held for sale — 5,629 Total current assets 26,618 30,107 Property and equipment, net 980 1,148 Operating lease right-of-use assets 10,166 1,553 Goodwill 7,978 7,978 Intangible assets, net 1,440 1,556 Deposits 212 122 Total assets $ 47,394 $ 42,464 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable ($ 14 and $ 0 to a related party) $ 866 $ 668 Lease liabilities, current 1,544 567 Accrued expenses and other liabilities 3,078 4,130 Total current liabilities 5,488 5,365 Deferred tax liability 15 14 Lease liabilities, non-current 8,556 955 Contingent consideration, non-current 51 160 Total liabilities 14,110 6,494 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 : 25,485,510 and 25,300,372 shares, respectively 25 25 Additional paid-in capital 62,292 60,598 Accumulated other comprehensive loss ( 87 ) ( 87 ) Retained deficit ( 28,946 ) ( 24,566 ) Total stockholders' equity 33,284 35,970 Total liabilities and stockholders' equity $ 47,394 $ 42,464 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 September 30, Six Months Ended September 30

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View this 10-Q filing on SEC EDGAR