Business Description
GSI Technology, Inc. (GSIT) operates as a fabless semiconductor company, specializing in the creation, development, and commercialization of sophisticated memory solutions. These products cater to a global clientele across vital industries such as networking, industrial, medical, aerospace, and defense, with a market presence spanning the United States, China, Singapore, Germany, the Netherlands, and other international territories. A core offering from GSI Technology includes its associative processing unit (APU) products. These innovative units are specifically designed to enable similarity search functionalities, supporting diverse applications like visual search queries in e-commerce, computer vision, pharmaceutical discovery, cybersecurity, and various service sectors. Furthermore, the company provides an extensive portfolio of static random access memory (SRAM) options. This range features SyncBurst SRAMs, suitable for microprocessor caches and other applications; No Bus Turnaround SRAMs, crafted to address specific needs in networking and telecommunications; and SigmaQuad and SigmaDDR products, which meet the high-density and rapid random transaction rate demands of networking and telecom systems. Additionally, GSIT offers Low Latency DRAMs, an optimal solution for advanced data networking, as well as Asynchronous SRAM, serving as primary memory for compact, cache-less embedded processors utilized in industrial electronics, measurement instruments, and cost-sensitive networking equipment. A selection of other specialized SRAMs rounds out their memory offerings. For demanding operational environments, GSI Technology also manufactures radiation-hardened and radiation-tolerant SRAMs, crucial for aerospace and military applications such as networking satellites and missile guidance systems. These semiconductor solutions are integrated as essential components within the final products of the company's Original Equipment Manufacturer (OEM) partners. Their applications are broad, encompassing networking and telecommunications devices (e.g., routers, switches), advanced military and aerospace systems (e.g., radar, guidance systems, satellites), audio/video processing, high-speed test and measurement equipment, automotive technology (e.g., smart cruise control), and medical imaging devices (e.g., ultrasound, CAT scan machines). The distribution of GSI Technology's products is managed through an extensive network of independent sales representatives and authorized distributors. Established in 1995, the company maintains its corporate headquarters in Sunnyvale, California.
Business History
Revenue & Net Income Trend
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
EPS (Diluted): -0.42
Total Equity: $81.76M
Shares: 31,839,000
Total Debt: $0.00
Cash: $67.21M
EBITDA: -$16.85M
Total Debt: $0.00
Cash: $67.21M
Revenue: $25.12M
Shares: 31,839,000
Revenue: $25.12M
Revenue: $25.12M
Revenue: $25.12M
Total Equity: $81.76M
Tax Rate: 1.0%
Equity: $81.76M
Total Debt: $0.00
Cash: $67.21M
Current Liabilities: $9.20M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $81.76M
Shares: 31,839,000
Shares: 31,839,000
CapEx: -$486,000
Shares: 31,839,000
Stock Price: $6.84
Net Income: -$13.25M
Industry Benchmarks
Deep Analysis
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Income Statement (Annual)
Last updated: Jun 24, 2026 1:26pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $33.4M | $29.7M | $21.8M | $20.5M | $25.1M |
| Cost of Revenue | $14.8M | $12.0M | $9.9M | $10.4M | $11.4M |
| Gross Profit | $18.5M | $17.7M | $11.8M | $10.1M | $13.7M |
| Operating Expenses | $34.9M | $33.5M | $32.3M | $21.0M | $31.2M |
| Operating Income | -$16.4M | -$15.8M | -$20.4M | -$10.8M | -$17.5M |
| Net Income | -$16.4M | -$16.0M | -$20.1M | -$10.6M | -$13.2M |
| EBITDA | -$15.0M | -$16.7M | -$19.5M | -$16.0M | -$16.8M |
| EPS | $-0.67 | $-0.65 | $-0.80 | $-0.42 | $-0.42 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 1:26pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Cash & Equivalents | $37.0M | $27.2M | $14.4M | $13.4M | $67.2M |
| Total Current Assets | $54.7M | $41.9M | $30.1M | $23.5M | $79.2M |
| Total Assets | $76.4M | $60.0M | $42.5M | $43.3M | $98.0M |
| Current Liabilities | $8.9M | $7.2M | $5.4M | $7.1M | $9.2M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $12.0M | $8.5M | $6.5M | $15.1M | $16.2M |
| Total Equity | $64.5M | $51.4M | $36.0M | $28.2M | $81.8M |
| Retained Earnings | $11.5M | -$4.5M | -$24.6M | -$35.2M | -$48.5M |
Cash Flow (Annual)
Last updated: Jun 24, 2026 1:26pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$13.8M | -$16.8M | -$17.4M | -$13.0M | -$15.9M |
| Capital Expenditure | $-774,000 | $-316,000 | $-645,000 | $-45,000 | $-486,000 |
| Free Cash Flow | -$14.6M | -$17.2M | -$18.0M | -$13.0M | -$16.4M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$7.3M | -$9.8M | -$12.8M | $-995,000 | $53.8M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 8:00pm (12h ago)| Metric | 2030 | 2031 | 2032 | 2033 |
|---|---|---|---|---|
| Revenue |
$43.8M $43.8M – $43.8M
|
$27.3M $27.3M – $27.3M
|
$33.0M $33.0M – $33.0M
|
$39.4M $39.4M – $39.4M
|
| EBITDA |
-$29.4M -$29.4M – -$29.4M
|
-$18.3M -$18.3M – -$18.3M
|
-$22.2M -$22.2M – -$22.2M
|
-$26.4M -$26.4M – -$26.4M
|
| Net Income |
-$14.0M -$14.0M – -$14.0M
|
-$28.7M -$28.7M – -$28.7M
|
-$23.6M -$23.6M – -$23.6M
|
-$19.4M -$19.4M – -$19.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 1:26pm (2d ago)| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue Growth | -11.1% | -26.7% | -5.7% | +22.4% |
| Gross Profit Growth | -4.6% | -33.1% | -14.2% | +35.1% |
| Operating Income Growth | +3.3% | -29.3% | +47.0% | -61.3% |
| Net Income Growth | +2.4% | -25.7% | +47.0% | -24.5% |
| EBITDA Growth | -11.1% | -16.8% | +18.2% | -5.6% |
Narrative Economics
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