GSI TECHNOLOGY INC GSIT
GSI Technology, Inc. ("GSI" or the "Company") is a semiconductor company pursuing a two-pronged business strategy. Our growth strategy centers on the commercialization of our proprietary associative processing unit ("APU") technology, which enables high-performance, low-power, compute-in-memory processing for artificial intelligence, high-performance computing, and search applications at the edge. We fund this development through our established legacy business designing and selling high-speed synchronous static random access memory ("SRAM") products, primarily for the networking and telecommunications, test and measurement, and military/defense and aerospace markets. We operate under a fabless manufacturing model and are headquartered in Sunnyvale, California, with additional operations in Taiwan and Israel.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.1M | $20.5M | $21.8M | $29.7M | $33.4M | $27.7M | $43.3M | $51.5M | $42.6M | $48.2M |
| Cost of revenue | $11.4M | $10.4M | $9.9M | $12.0M | $14.8M | $14.5M | $18.0M | $19.9M | $20.2M | $21.8M |
| Gross profit | $13.7M | $10.1M | $11.8M | $17.7M | $18.5M | $13.2M | $25.3M | $31.6M | $22.4M | $26.4M |
| R&D | $19.9M | $16.0M | $21.7M | $23.6M | $24.7M | $23.3M | $25.2M | $21.4M | $17.0M | $15.8M |
| SG&A | $11.2M | $10.8M | $10.6M | $9.9M | $10.2M | $11.1M | $10.9M | $10.5M | $9.9M | $11.1M |
| Total operating expenses | $31.2M | $21.0M | $32.3M | $33.5M | $34.9M | $34.5M | $36.1M | $31.8M | $26.9M | $26.9M |
| Operating income | -$17.5M | -$10.8M | -$20.4M | -$15.8M | -$16.4M | -$21.3M | -$10.8M | -$182.0K | -$4.5M | -$527.0K |
| Pre-tax income | -$13.4M | -$10.5M | -$20.0M | -$15.6M | -$16.4M | -$21.2M | -$10.1M | $268.0K | -$4.1M | -$49.0K |
| Income tax | $132.0K | $130.0K | $70.0K | $372.0K | $45.0K | $335.0K | $247.0K | $105.0K | $453.0K | $66.0K |
| Net income | -$13.2M | -$10.6M | -$20.1M | -$16.0M | -$16.4M | -$21.5M | -$10.3M | $163.0K | -$4.5M | -$115.0K |
| EPS, basic | -0.42 | -0.42 | -0.80 | -0.65 | -0.67 | -0.91 | -0.45 | 0.01 | -0.21 | -0.01 |
| EPS, diluted | -0.42 | -0.42 | -0.80 | -0.65 | -0.67 | -0.91 | -0.45 | 0.01 | -0.21 | -0.01 |
| Shares, diluted (wtd. avg.) | 31.8M | 25.5M | 25.1M | 24.6M | 24.3M | 23.7M | 23.0M | 23.3M | 21.1M | 20.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $67.2M | $13.4M | $14.4M | $27.2M | $37.0M | $44.2M | $51.5M | $42.5M | $40.2M | $33.7M |
| Short-term investments | — | — | — | $3.4M | $7.0M | $9.7M | — | — | — | — |
| Receivables | $4.2M | $3.2M | $3.1M | $3.5M | $4.5M | $3.7M | $6.3M | $7.3M | $5.3M | $6.3M |
| Inventory | $4.1M | $3.9M | $5.0M | $6.4M | $4.7M | $4.3M | $4.3M | $5.7M | $5.5M | $9.2M |
| Total current assets | $79.2M | $23.5M | $30.1M | $41.9M | $54.7M | $63.4M | $79.1M | $77.4M | $71.3M | $68.3M |
| Property, plant and equipment | $883.0K | $808.0K | $1.1M | $7.4M | $7.4M | $7.3M | $8.1M | $9.0M | $8.2M | $7.7M |
| Goodwill | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M |
| Other intangibles | $1.1M | $1.3M | $1.6M | $1.8M | $2.0M | $2.3M | $2.5M | $2.7M | $3.0M | $3.3M |
| Total assets | $98.0M | $43.3M | $42.5M | $59.9M | $76.4M | $87.6M | $102.6M | $106.2M | $99.5M | $102.6M |
| Accounts payable | $3.6M | $991.0K | $668.0K | $1.6M | $1.5M | $1.6M | $1.2M | $1.9M | $1.8M | $1.6M |
| Total current liabilities | $9.2M | $7.1M | $5.4M | $7.2M | $8.9M | $7.5M | $8.3M | $8.7M | $7.4M | $10.5M |
| Total liabilities | $16.2M | $15.1M | $6.5M | $8.5M | $12.0M | $12.0M | $12.9M | $13.1M | $12.7M | $16.2M |
| Retained earnings | -$48.5M | -$35.2M | -$24.6M | -$4.5M | $11.5M | $27.9M | $49.4M | $59.7M | $59.5M | $64.7M |
| Total equity | $81.8M | $28.2M | $36.0M | $51.4M | $64.5M | $75.6M | $89.6M | $93.2M | $86.8M | $86.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$15.9M | -$13.0M | -$17.4M | -$16.8M | -$13.8M | -$15.3M | -$4.7M | $3.0M | $1.1M | $2.1M |
| Depreciation and amortisation | $628.0K | $665.0K | $927.0K | $1.0M | $1.0M | $1.2M | $1.4M | $1.5M | $1.3M | $1.5M |
| Stock-based compensation | $2.8M | $2.3M | $2.8M | $2.5M | $3.0M | $2.9M | $2.6M | $2.3M | $2.1M | $1.9M |
| Capital expenditure | $486.0K | $45.0K | $645.0K | $316.0K | $774.0K | $203.0K | $331.0K | $2.1M | $1.3M | $219.0K |
| Investing cash flow | -$486.0K | $11.3M | $2.8M | $6.7M | $4.2M | $3.3M | $10.0M | -$3.5M | $2.8M | $4.8M |
| Financing cash flow | $70.2M | $633.0K | $1.8M | $402.0K | $2.4M | $4.7M | $3.7M | $2.7M | $2.6M | -$5.1M |
| Buybacks | — | — | — | — | — | — | — | $103.0K | — | $7.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-084241.
Plot the figures US dollars
- Total current assets
- Inventory
- Capital expenditure
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | $68.3M | $71.3M | $77.4M | $79.1M | $63.4M | $54.7M | $41.9M | $30.1M | $23.5M | $79.2M |
| Inventory | $9.2M | $5.5M | $5.7M | $4.3M | $4.3M | $4.7M | $6.4M | $5.0M | $3.9M | $4.1M |
| Capital expenditure | $219.0K | $1.3M | $2.1M | $331.0K | $203.0K | $774.0K | $316.0K | $645.0K | $45.0K | $486.0K |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Other event Item 8.01
- Results announced Item 2.02
- Results announced Item 2.02
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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