GSI Technology ( (GSIT) ) has released its Q1 earnings. Here is a breakdown of the information GSI Technology presented to its investors.
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GSI Technology, Inc., a leader in AI and edge computing solutions, has reported its financial results for the first quarter of fiscal year 2026, highlighting significant growth in SRAM revenue and improved gross margins. The company, known for its innovative APU technology, continues to make strides in the AI sector with its Gemini-II chip now production-ready.
In the first quarter of fiscal 2026, GSI Technology saw a 7% sequential and 35% year-over-year increase in SRAM revenue, driven by strong demand for AI processors. The company also reported a gross margin increase of 200 basis points from the previous quarter and over 1,100 basis points compared to the prior year. The quarter-end cash balance rose to $22.7 million, a significant increase from $13.4 million at the end of the previous fiscal year.
Key financial metrics include net revenues of $6.3 million, up from $4.7 million in the same quarter last year, and a gross margin of 58.1%. Despite an operating loss of $2.2 million, the company has shown resilience with a strong cash position and improved working capital. Strategic developments include the delivery of an APU Leda-2 board for defense applications and ongoing development of a multi-modal LLM targeting edge applications.
Looking ahead, GSI Technology’s management anticipates net revenues between $5.9 million and $6.7 million for the second quarter of fiscal 2026, with a gross margin of approximately 56% to 58%. The company remains focused on advancing its edge AI solutions, positioning itself for continued growth in the evolving AI market.