GSI Technology (GSIT)
NASDAQ:GSIT
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GSI Technology
(NASDAQ:GSIT)
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Rating:53Neutral
Price Target:
$5.50
▼(-9.24% Downside)
Action:ReiteratedDate:03/19/26
The score is held back primarily by weak financial performance—deep operating losses and persistent negative operating/free cash flow—despite a low-debt balance sheet and improving loss trajectory. Technicals are a clear positive with the stock trading above major moving averages and moderate momentum. Earnings-call signals are mixed: supportive margin guidance and product/government-program progress are offset by rising expenses, widening operating losses, cash burn, and customer concentration/volatility. Valuation support is limited due to negative earnings and no dividend yield provided.
Positive Factors
Defensible Gross Margins
Sustained mid‑50% gross margins indicate durable product‑level economics for SRAM and compute offerings. This margin profile gives the company structural room to invest in R&D and SG&A while moving toward operating leverage as revenue scale rises, supporting long‑term profitability potential if sales growth continues.
Negative Factors
Persistent Operating Losses
Sustained negative operating and free cash flow reflects that core operations are not yet cash generative; continued reliance on financing or equity risks dilution and constrains reinvestment. Until scale or margin improvements turn OCF positive, financial flexibility and path to self‑funding remain uncertain.
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Positive Factors
Negative Factors
Defensible Gross Margins
Sustained mid‑50% gross margins indicate durable product‑level economics for SRAM and compute offerings. This margin profile gives the company structural room to invest in R&D and SG&A while moving toward operating leverage as revenue scale rises, supporting long‑term profitability potential if sales growth continues.
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GSI Technology (GSIT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$201.92M
Dividend YieldN/A
Average Volume (3M)990.08K
Price to Earnings (P/E)―
Beta (1Y)3.33
Revenue Growth22.00%
EPS Growth28.06%
CountryUS
Employees148
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.09
Shares Outstanding36,186,203
10 Day Avg. Volume638,161
30 Day Avg. Volume990,082
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 Cap0.50
Enterprise Value/Revenue4.09
Enterprise Value/Gross Profit7.38
Enterprise Value/Ebitda-9.43
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 Key Performance Indicators (KPIs)
GSI Technology Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Neutral
The call presented a mix of encouraging strategic and technological progress (revenue growth YoY, strong balance sheet from financing, a promising Gemini II TTFT benchmark, a government-backed POC with >$1M in funding, and early customer gains such as Nokia) alongside meaningful near-term financial and execution challenges (sharp rise in R&D and operating expenses, wider operating loss, gross margin compression, elevated cash burn from operations, and variability in customer revenues such as a notable Cadence decline). The company appears to be investing heavily in product development and pursuing government-funded proof-of-concept opportunities while relying on financing to support operations; positives around product performance and cash resources are balanced by execution and profitability risks.Positive Updates
Revenue Growth Year-over-Year and Fiscal YTD
Net revenues of $6.1 million in Q3 FY2026, a 12% increase year-over-year (from $5.4M) and a 28.5% increase on a fiscal year-to-date basis.
Negative Updates
Rising Operating Expenses and Heavy R&D Spend
Total operating expenses of $10.1M in Q3 FY2026 versus $7.0M a year ago and $6.7M in the prior quarter. R&D expense increased to $7.5M from $4.0M a year ago (+87.5% YoY) and from $3.8M in the prior quarter (+97.4% QoQ), driven by IP purchase and consulting for PLATO.
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Q3-2026 Updates
Positive
Negative
Revenue Growth Year-over-Year and Fiscal YTD
Net revenues of $6.1 million in Q3 FY2026, a 12% increase year-over-year (from $5.4M) and a 28.5% increase on a fiscal year-to-date basis.
Read all positive updates
Company Guidance
Guidance for fiscal Q4 2026 calls for net revenues of $5.7 million to $6.5 million with a gross margin of approximately 54%–56%. For context, management reported Q3 FY2026 net revenues of $6.1 million (up 12% year‑over‑year and up 28.5% fiscal year‑to‑date), a Q3 gross margin of 52.7% (vs. 54.0% a year ago), operating expenses of $10.1 million (R&D $7.5M, SG&A $2.6M), an operating loss of $6.9M, and a net loss of $3.0M or $0.09 per diluted share; cash and cash equivalents were $70.7M as of December 31, 2025 (beginning cash Sept. 30 $25.3M), working capital $71.7M, and stockholders’ equity $83.6M. Additional operational metrics highlighted include expected >$1M in government funding for the Sentinel POC (to offset R&D), Gemini II preliminary TTFT of three seconds at ~30 watts (up to 3x faster than a competitor), and plans to begin PLATO hardware development toward operations in early 2027.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
Negative
6.06
Price Trends
6.86
Negative
6.88
Negative
5.95
Negative
Market Momentum
-0.57
Positive
43.00
Neutral
50.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GSIT, the sentiment is Negative. The current price of 6.06 is below the 20-day moving average (MA) of 6.23, below the 50-day MA of 6.86, and above the 200-day MA of 5.95, indicating a bearish trend. The MACD of -0.57 indicates Positive momentum. The RSI at 43.00 is Neutral, neither overbought nor oversold. The STOCH value of 50.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $234.67M | -357.39 | -0.80% | ― | -0.41% | -134.49% | |
53 Neutral | $201.92M | -17.74 | -22.69% | ― | 22.00% | 28.06% | |
49 Neutral | $105.68M | -3.11 | -11.40% | ― | -7.79% | 10.04% | |
48 Neutral | $1.10B | -1.50 | 1017.75% | ― | ― | ― | |
48 Neutral | $175.42M | -3.38 | -116.86% | ― | -94.26% | 3.20% | |
47 Neutral | $34.61M | -2.36 | 109.22% | ― | -38.72% | 16.01% |
* Technology Sector Average
GSIT
GSI Technology
5.58
3.08
123.20%
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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.