Company: GSIT
Filing Date: 2025-05-01
Form Type: 8-K
Source: 0001171843-25-002691
Chunk: 1

Company: GSI TECHNOLOGY INC
Filing Date: 2025-05-01
Form: 8-K
Item: Item 2.02
Chunk 1
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 sales to KYEC were $1.7 million, or 29.5% of net revenues, compared to $544,000, or 10.6% of net revenues, in the same period a year ago and $1.2 million, or 22.7% of net revenues, in the prior quarter. The Corporation reported that in the fourth quarter of fiscal 2025, sales to Nokia were $444,000, or 7.5% of net revenues, compared to $694,000, or 13.5% of net revenues, in the same period a year ago and $239,000, or 4.4% of net revenues, in the prior quarter. The Corporation’s fourth quarter fiscal 2025 operating loss was $(2.3) million compared to an operating loss of $(4.5) million in the prior-year period and $(4.1) million in the prior quarter. The operating loss for fiscal 2025 was $(10.8) million compared to an operating loss of $(20.4) million in the prior year. The Corporation’s stronger revenues, reduced research and development expenses, receipt of government funding under SBIR programs, gain on the sale of the Corporation’s headquarters building in Sunnyvale, California and disciplined cost management collectively led to this significantly reduced operating loss. Net loss in the fourth quarter of fiscal 2025 was $(2.2) million, or $(0.09) per diluted share, compared to a net loss of $(4.3) million, or $(0.17) per diluted share, for the fourth quarter of fiscal 2024 and a net loss of $(4.0) million, or $(0.16) per diluted share, for the third quarter of fiscal 2025. The Corporation’s net loss for fiscal 2025 was $(10.6) million, or $(0.42) per diluted share, compared to a net loss of $(20.1) million, or $(0.80) per diluted share, for fiscal 2024. The Corporation also announced progress on the development of its associative processing unit (“ APU”) products, including confirmation that the Corporation remains on schedule for the delivery of products pursuant to Small Business Innovation Research (SBIR) programs with the U. S. federal government and enhancements to its Plato product for edge AI applications with low power requirements. The Corporation also announced that it had $13.4 million in cash and cash equivalents as of March 31,