GSI Technology (GSIT)
NASDAQ:GSIT
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GSI Technology
(NASDAQ:GSIT)
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Rating:59Neutral
Price Target:
$8.50
▲(40.26% Upside)
Action:Reiterated
Date:05/03/26
The score is capped primarily by weak financial performance (large operating losses and negative cash flow despite healthy gross margins and a low-debt balance sheet). Offsetting this, technical momentum is strong with the stock trading above major moving averages and a positive MACD. Earnings call details add a moderate lift from guidance and product/funding progress, but elevated spending, cash burn, and customer concentration keep risk high; valuation remains constrained by ongoing losses.
Positive Factors
Defensible mid-50% gross margins
Sustained mid-50% gross margins indicate a durable product-level margin profile for high-performance SRAM and adjacent compute products. This supports long-term gross-profit generation as revenue scales and provides cushion against cost swings, aiding path to operational leverage once scale improves.
Negative Factors
Persistent negative operating cash flow
Consistent negative operating and free cash flow (~-$12M TTM) signals that core operations are not yet self-sustaining. Over the medium term this forces reliance on financing or asset draws to fund R&D and commercialization, increasing execution risk until cash generation turns sustainably positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Defensible mid-50% gross margins
Sustained mid-50% gross margins indicate a durable product-level margin profile for high-performance SRAM and adjacent compute products. This supports long-term gross-profit generation as revenue scales and provides cushion against cost swings, aiding path to operational leverage once scale improves.
Read all positive factors
GSI Technology Key Performance Indicators (KPIs)
GSI Technology (GSIT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$349.56M
Dividend YieldN/A
Average Volume (3M)2.02M
Price to Earnings (P/E)―
Beta (1Y)3.18
Revenue Growth22.44%
EPS Growth1.58%
CountryUS
Employees148
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.37
Shares Outstanding36,186,203
10 Day Avg. Volume3,992,450
30 Day Avg. Volume2,015,113
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)1.84
Price to Sales (P/S)2.53
P/FCF Ratio-3.98
Enterprise Value/Market Cap0.61
Enterprise Value/Revenue8.70
Enterprise Value/Gross Profit15.69
Enterprise Value/Ebitda-20.06
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
GSI Technology Business Overview & Revenue Model
Company Description
GSI Technology, Inc., a fabless semiconductor company, designs, develops, and markets semiconductor memory solutions to networking, industrial, medical, aerospace, and military customers in the United States, China, Singapore, Germany, the Netherl...
How the Company Makes Money
GSI Technology makes money primarily by selling its semiconductor products, with SRAM historically being its core revenue driver. Revenue is generated when customers (typically OEMs and system designers) purchase SRAM devices for incorporation int...
GSI Technology Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call presents a broadly positive operational and financial trajectory: meaningful revenue growth (+22.4% YoY) and margin expansion, a strengthened cash position with no debt, technical validation and program wins for Gemini II (defense POC, U.S. Army SBIR progression, smart city Phase One), and PLATO remaining on-track. Offsetting these positives are materially higher operating expenses and a widening operating loss driven by R&D, continued cash burn during the development phase, early-stage commercialization with limited design wins to date, and some quarterly revenue variability. On balance, the highlights (revenue/margin improvement, strong cash runway, program validation and government engagement) outweigh the lowlights tied to development-stage spending and commercialization risk.Positive Updates
Fiscal 2026 Revenue Growth
Total revenue for fiscal 2026 increased 22.4% year-over-year to $25.1 million, driven by strength in the SRAM business supporting AI chip design and simulation customers.
Negative Updates
Rising Operating Expenses and Larger Operating Loss
Operating expenses increased to $31.2 million in fiscal 2026 from $21.0 million the prior year (an increase of ~48.6%), driven primarily by higher R&D spending on PLATO; operating loss widened to $17.5 million versus $10.8 million in fiscal 2025 (increase of ~62%).
Read all updates
Q4-2026 Updates
Positive
Negative
Fiscal 2026 Revenue Growth
Total revenue for fiscal 2026 increased 22.4% year-over-year to $25.1 million, driven by strength in the SRAM business supporting AI chip design and simulation customers.
Read all positive updates
Company Guidance
Management’s guidance and near‑term outlook emphasized a Q1 FY2027 revenue range of $5.9–$6.7 million with gross margin of approximately 54%–56%, while noting FY2026 results of $25.1 million revenue (+22.4% YoY) and a ~54.5% gross margin (SRAM business up ~22% with SRAM margins near 55%); Q4 revenue was $6.3M with a 52.4% gross margin, FY2026 operating expenses were $31.2M (vs. $21M prior year) producing an operating loss of $17.5M (vs. $10.8M), R&D offsets were $1M, and interest/other income items contributed roughly $7.5M (including $4.1M interest income and a $6.2M non‑cash warrant gain partially offset by $2.8M issuance costs). On cash flow, the company reported $67.2M in cash and no debt at quarter end, net cash used in operations of $5.5M for the quarter, net investing of ~$0.1M and net financing of $2.1M, highlighted the $46.9M (net) registered direct offering in Oct‑2025, and said it expects cash usage of roughly $4M per quarter (~$16M annually), which it believes provides runway to support initial commercialization of Gemini II and PLATO tape‑out targeted for late FY2027.GSI Technology Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
63
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.69M | 20.52M | 21.77M | 29.69M | 33.38M | 27.73M |
| Gross Profit | 13.68M | 10.14M | 11.82M | 17.68M | 18.54M | 13.22M |
| EBITDA | -10.70M | -15.96M | -19.50M | -16.70M | -15.04M | -20.05M |
| Net Income | -10.65M | -10.64M | -20.09M | -15.98M | -16.37M | -21.50M |
Balance Sheet | ||||||
| Total Assets | 98.46M | 43.32M | 42.48M | 60.03M | 76.42M | 76.42M |
| Cash, Cash Equivalents and Short-Term Investments | 70.67M | 13.43M | 14.43M | 30.57M | 43.96M | 43.96M |
| Total Debt | 8.77M | 9.64M | 1.52M | 651.00K | 898.00K | 898.00K |
| Total Liabilities | 14.84M | 15.09M | 6.50M | 8.50M | 11.97M | 11.97M |
| Stockholders Equity | 83.62M | 28.23M | 35.97M | 51.37M | 64.45M | 64.45M |
Cash Flow | ||||||
| Free Cash Flow | -12.47M | -13.02M | -18.00M | -17.16M | -14.60M | -15.46M |
| Operating Cash Flow | -12.13M | -12.97M | -17.35M | -16.84M | -13.83M | -15.25M |
| Investing Cash Flow | -340.00K | 11.35M | 2.76M | 6.68M | 4.20M | 3.29M |
| Financing Cash Flow | 68.06M | 633.00K | 1.81M | 402.00K | 2.37M | 4.69M |
GSI Technology Technical Analysis
Positive
6.06
Price Trends
7.37
Positive
7.40
Positive
6.54
Positive
Market Momentum
0.67
Positive
56.33
Neutral
26.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GSIT, the sentiment is Positive. The current price of 6.06 is below the 20-day moving average (MA) of 9.00, below the 50-day MA of 7.37, and below the 200-day MA of 6.54, indicating a bullish trend. The MACD of 0.67 indicates Positive momentum. The RSI at 56.33 is Neutral, neither overbought nor oversold. The STOCH value of 26.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GSIT.
GSI Technology Risk Analysis
GSI Technology disclosed 44 risk factors in its most recent earnings report. GSI Technology reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
GSI Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $789.71M | -171.77 | 0.42% | ― | 15.94% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $349.56M | -12.35 | -21.96% | ― | 22.44% | 1.58% | |
58 Neutral | $43.84M | 0.11 | -2573.87% | ― | -38.72% | 16.01% | |
58 Neutral | $357.74M | -5.53 | -84.79% | ― | -40.50% | 1.62% | |
54 Neutral | $201.15M | -5.48 | -10.13% | ― | -20.64% | 44.67% | |
47 Neutral | $3.38B | -1.61 | -5208.55% | ― | -6.41% | -106.57% |
* Technology Sector Average
GSIT
GSI Technology
9.66
6.36
192.73%
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GSI Technology Corporate Events
Business Operations and Strategy
GSI Technology Concludes Strategic Review, Confirms Standalone Strategy
Positive
Mar 18, 2026
On March 18, 2026, GSI Technology announced that its board had concluded a review of strategic alternatives initiated earlier to evaluate options for enhancing shareholder value. After engaging with multiple parties and weighing various potential ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.