GSI Technology Files Q3 FY25 10-Q

TL;DR

GSI Tech's Q3 FY25 10-Q is in. Check financials for Dec 31, 2024.

AI Summary

GSI Technology Inc. filed its 10-Q for the period ending December 31, 2024. The company reported financial results for the third quarter of its fiscal year 2025. Key financial data and balance sheet information as of December 31, 2024, and comparative periods are included in the filing.

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 — The filing contains standard financial disclosures, but the semiconductor industry can be volatile, and specific performance metrics are not detailed here.

Key Numbers

• 2024-12-31 — Balance Sheet Date (As of the end of the third quarter of fiscal year 2025.)
• 20250210 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 001-33387 — SEC File Number (Unique identifier for GSI Technology Inc.'s filings.)

Key Players & Entities

• GSI TECHNOLOGY INC (company) — Filer
• 20241231 (date) — Period of Report
• 20250210 (date) — Filed as of Date
• SUNNYVALE, CA (location) — Business Address
• Wistron Neweb Corp (company) — Member

FAQ

Key Financial Figures

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

Filing Documents

• gsit-20241231x10q.htm (10-Q) — 1679KB
• gsit-20241231xex31d1.htm (EX-31.1) — 17KB
• gsit-20241231xex31d2.htm (EX-31.2) — 16KB
• gsit-20241231xex32d1.htm (EX-32.1) — 11KB
• 0001558370-25-000749.txt ( ) — 7471KB
• gsit-20241231.xsd (EX-101.SCH) — 43KB
• gsit-20241231_cal.xml (EX-101.CAL) — 59KB
• gsit-20241231_def.xml (EX-101.DEF) — 134KB
• gsit-20241231_lab.xml (EX-101.LAB) — 410KB
• gsit-20241231_pre.xml (EX-101.PRE) — 291KB
• gsit-20241231x10q_htm.xml (XML) — 1514KB

— 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 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, 2024 2024 (In thousands, except share and per share amounts) ASSETS Cash and cash equivalents $ 15,085 $ 14,429 Accounts receivable, net 3,583 3,118 Inventories 3,885 4,977 Prepaid expenses and other current assets ($ 375 and $ 375 from a related party) 1,267 1,954 Assets held for sale — 5,629 Total current assets 23,820 30,107 Property and equipment, net 883 1,148 Operating lease right-of-use assets 9,858 1,553 Goodwill 7,978 7,978 Intangible assets, net 1,381 1,556 Deposits 213 122 Total assets $ 44,133 $ 42,464 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable ($ 1 and $ 0 to a related party) $ 691 $ 668 Lease liabilities, current 1,552 567 Accrued expenses and other liabilities 3,657 4,130 Total current liabilities 5,900 5,365 Deferred tax liability 16 14 Lease liabilities, non-current 8,284 955 Contingent consideration, non-current — 160 Total liabilities 14,200 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 : 25,600,297 and 25,300,372 shares, respectively 25 25 Additional paid-in capital 62,970 60,598 Accumulated other comprehensive loss ( 87 ) ( 87 ) Retained deficit ( 32,975 ) ( 24,566 ) Total stockholders' equity 29,933 35,970 Total liabilities and stockholders' equity $ 44,133 $ 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 December 31, Nine Months Ended December 31, 20

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View this 10-Q filing on SEC EDGAR