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GSIT

GSI Technology, Inc.

GSIT

GSI Technology, Inc. • NASDAQ
$6.36 ▲ 1.11% (+0.07)
Market Cap $171.29 M
52w High $18.15
52w Low $1.62
Dividend Yield 0%
P/E -14.45
Volume 351.09K
Outstanding Shares 26.93M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $6.444M ▲ $6.72M ▲ $-3.185M ▼ -49.426% ▼ $-0.11 ▼ $-2.991M ▼
Q1-2026 $6.283M ▲ $5.827M ▲ $-2.217M ▲ -35.286% ▲ $-0.082 ▲ $-2.014M ▲
Q4-2025 $5.883M ▲ $5.575M ▼ $-2.23M ▲ -37.906% ▲ $-0.087 ▲ $-2.122M ▲
Q3-2025 $5.414M ▲ $6.978M ▼ $-4.029M ▲ -74.418% ▲ $-0.16 ▲ $-3.952M ▲
Q2-2025 $4.55M $7.341M $-5.458M -119.956% $-0.21 $-5.424M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $25.326M ▲ $51.989M ▲ $13.437M ▲ $38.552M ▲
Q1-2026 $22.725M ▲ $50.505M ▲ $13.131M ▼ $37.374M ▲
Q4-2025 $13.434M ▼ $43.317M ▼ $15.091M ▲ $28.226M ▼
Q3-2025 $15.085M ▼ $44.133M ▼ $14.2M ▲ $29.933M ▼
Q2-2025 $18.356M $47.394M $14.11M $33.284M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-3.185M ▼ $-887K ▲ $-19K ▲ $3.507M ▼ $2.601M ▼ $-906K ▲
Q1-2026 $-2.217M ▲ $-1.712M ▼ $-21K ▼ $11.024M ▲ $9.291M ▲ $-1.733M ▼
Q4-2025 $-2.23M ▲ $-1.658M ▲ $-4K ▼ $11K ▼ $-1.651M ▲ $-1.662M ▲
Q3-2025 $-4.029M ▲ $-3.573M ▼ $53K ▲ $249K ▲ $-3.271M ▲ $-3.576M ▼
Q2-2025 $-5.458M $-3.48M $-6K $77K $-3.409M $-3.486M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been very small and mostly flat for several years, while costs to run the business and fund development have kept the company in the red. Gross margins are positive, which means the core products can be sold at a profit before overhead, but not nearly enough volume exists yet to cover research, sales, and administrative expenses. Losses have been consistent year after year, although the most recent year shows a modest improvement rather than a worsening trend. Overall, this is still a story of an early-stage technology platform with under‑scaled sales rather than a mature, profitable business.

Balance Sheet

Balance Sheet The balance sheet is relatively light, reflecting the company’s small scale. Total assets and cash have drifted down over the last several years, showing that the company has been drawing on its resources to fund operations and development. Shareholders’ equity has also trended lower, which is typical for a business that has not yet reached profitability. A small amount of debt has appeared recently where there previously was none, suggesting the company is starting to mix some borrowing into its funding sources. Financial flexibility is clearly more limited than it was a few years ago, so the company’s path to either scaling revenue or accessing fresh capital will be important.

Cash Flow

Cash Flow Operating cash flow has been negative every single year, meaning the business consistently consumes cash rather than generating it. Free cash flow follows the same pattern, with virtually no spending on heavy equipment to offset this; most cash use appears tied to payroll, R&D, and ongoing operating costs rather than factories or big physical assets. This is typical of an R&D‑heavy chip designer at an early commercialization stage, but it also means the company remains dependent on its cash reserves and external financing to keep funding development and day‑to‑day operations.

Competitive Edge

Competitive Edge GSI Technology is positioned in a very narrow but potentially valuable niche: high‑performance, low‑power computing for edge AI, aerospace, and defense. Its associative processing unit (APU) and long experience in specialized SRAM give it a differentiated story compared with mainstream chip makers who focus on large data centers or consumer devices. Independent research has highlighted strong energy efficiency for its technology in certain AI tasks, which could be a real advantage where power is constrained. The flip side is that this is still a small player operating in an industry dominated by giants with deep pockets and strong ecosystems, and the company’s commercial traction so far remains limited. Its competitive success will hinge on winning and expanding a handful of meaningful design wins in its chosen niches.

Innovation and R&D

Innovation and R&D The company is heavily oriented toward innovation. Its compute‑in‑memory APU architecture, validated in academic work, aims to tackle a key bottleneck in AI and high‑performance computing by processing data directly in memory. On top of that, GSI has built specialized radiation‑hardened memory products for space and defense, giving it technical credibility in demanding environments. The roadmap includes the Gemini-II APU, which targets higher performance at the edge, and the next‑generation “Plato” chip, aimed at running more advanced AI models locally on devices. Government research contracts help support this work, which is a positive signal, but R&D remains costly, and the payoff depends on turning these innovations into repeat commercial orders rather than just promising demos.

Summary

Overall, GSI Technology looks like a deeply R&D‑driven chip innovator that has not yet translated its technology into broad, profitable adoption. The income statement shows persistent losses and minimal revenue scale, the balance sheet and cash flows show ongoing cash burn and gradually reduced cushions, and the company has even begun to take on a bit of debt. On the other hand, its technology is differentiated, externally validated in certain use cases, and directed at specialized markets where power efficiency and radiation tolerance matter a great deal. The key uncertainties are execution and commercialization: whether Gemini-II, Plato, and the memory products win enough real‑world designs, contracts, and follow‑on orders to move the company from a research‑heavy story into a sustainable, self‑funding business.

NEWS

November 6, 2025 · 12:25 PM UTC

UPDATE – GSI Technology Defines Edge Strategy to Capture Growth in $2.7 Billion Drone Market

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November 6, 2025 · 6:00 AM UTC

GSI Technology Defines Edge Strategy to Capture Growth in $2.7 Billion Drone Market

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October 30, 2025 · 4:05 PM UTC

GSI Technology, Inc. Announces Second Quarter Fiscal 2026 Results

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October 21, 2025 · 9:02 AM UTC

GSI Technology Announces Pricing of $50 Million Registered Direct Offering of Common Stock and Pre-Funded Warrants

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October 20, 2025 · 9:00 AM UTC

Compute-In-Memory APU Achieves GPU-Class AI Performance at a Fraction of the Energy Cost

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