# EDGAR Filing Document

**Accession Number:** 0001126741
**File Stem:** 0001171843-26-003155
**Filing Date:** 2026-5
**Character Count:** 21252
**Document Hash:** 18540f6cb63758e51a373d2fd6c16e13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-26-003155.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001171843-26-003155

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260507

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GSI TECHNOLOGY INC
- **CENTRAL INDEX KEY:** 0001126741
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 770398779
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33387
- **FILM NUMBER:** 26953206

**BUSINESS ADDRESS:**
- **STREET 1:** 1213 ELKO DRIVE
- **CITY:** SUNNYVALE
- **STATE:** CA
- **ZIP:** 94089
- **BUSINESS PHONE:** 483319802

**MAIL ADDRESS:**
- **STREET 1:** 1213 ELKO DRIVE
- **CITY:** SUNNYVALE
- **STATE:** CA
- **ZIP:** 94089

?xml version='1.0' encoding='ASCII'? Form 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

### Washington, D.C. 20549
_________________

### FORM 8-K
_________________

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): May 7, 2026
_______________________________

#### GSI Technology, Inc.
(Exact name of registrant as specified in its charter)

_______________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-33387** | **77-0398779** |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

#### 1213 Elko Drive

#### Sunnyvale, California 94089
(Address of Principal Executive Offices) (Zip Code)

(408) 331-8800

(Registrant's telephone number, including area code)

#### Not Applicable
(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.001 par value | GSIT | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02. Results of Operations and Financial Condition.**

On May 7, 2026, GSI Technology, Inc. (the "Corporation") issued a press release announcing financial results for its fourth fiscal quarter and fiscal year ended March 31, 2026. A copy of the press release is furnished with this report.

The information contained in Items 2.02 and 9.01 (Exhibit 99.1) of this report and Exhibit 99.1 hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| <u>Exhibit Number</u> | <u>Description</u> |
| [99.1](exh_991.htm) | [Press Release dated May 7, 2026](exh_991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **GSI Technology, Inc.** | **GSI Technology, Inc.** |
| Date: May 7, 2026 | By: | <u>/s/ DOUGLAS M. SCHIRLE&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
|  |  | Douglas M. Schirle |
|  |  | Chief Financial Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

**GSI Technology, Inc. Announces Fourth Quarter and Fiscal Year 2026 Results**

**Subsequent to Fourth Quarter End, GSI Awarded Phase One of a Smart City Project**

SUNNYVALE, Calif., May 07, 2026 (GLOBE NEWSWIRE) -- **GSI Technology, Inc. (NASDAQ: GSIT)** today reported financial results for its fourth fiscal quarter and fiscal year ended March 31, 2026.

**Summary Comments for Fiscal Year 2026 (all financial comparisons are to fiscal year 2025)**

* Revenue increased 22% to $25.1 million, driven by strong SRAM sales to chip design and simulation customers

* Gross margin expanded to 54.5% from 49.4%, reflecting a favorable product mix weighted toward higher-margin SRAM products

**Summary Comments for Fourth Quarter Fiscal Year 2026 (all financial comparisons are to Fourth Quarter Fiscal Year 2025)**

* Revenue rose 7.4% on continued demand from top SRAM customers

* Increase in operating expense year-over-year is related to ongoing Plato chip design, with R&D expense partially offset by SBIR awards, reducing cash burn

* Quarter-end cash balance of $67.2 million in cash and no debt, providing a strong balance sheet to support ongoing initiatives through Gemini-II commercialization

* Subsequent to quarter end, announced a ~$2 million U.S. Army SBIR contract for non-dilutive R&D funding and secured a Phase I smart city project.

"Fiscal 2026 marked a year of meaningful progress for GSI, highlighted by improved SRAM revenue, third-party validation of our APU's performance-per-watt advantage, and initial customer engagements for Gemini-II," stated Lee-Lean Shu, Chairman and Chief Executive Officer. "During the fourth quarter, we completed the software platform for the G2 Tech proof of concept and entered Fiscal 2027 with continued momentum. Subsequent to year-end, we were awarded a Phase I smart city deployment and announced a U.S. Army SBIR Phase II contract valued at approximately $2 million to develop a ruggedized Gemini-II edge AI platform for defense applications."

Mr. Shu continued, "We remain disciplined in managing our resources as we advance Gemini-II toward commercialization. Our SRAM business continues to provide a stable financial foundation, and we have been awarded, to date, over $5.0 million of non-dilutive funding aligned with targeted edge AI applications. In parallel, we are leveraging a repeatable development platform to reuse core software, models, and system architecture across applications, reducing incremental development time and cost. We are encouraged by early-stage opportunities for Gemini-II and interest in our next-generation Plato architecture, and expect Fiscal 2027 to be a year of continued execution, focused on converting engagements into design wins and progressing toward initial revenue."

Commenting on the outlook for GSI's first quarter of fiscal 2027, Mr. Shu stated, "Our current expectation for the upcoming first quarter of fiscal 2027 is for net revenues in the range of $5.9 million to $6.7 million, with gross margin of approximately 54% to 56%."

**Fiscal Year 2026 Summary Financials**

The Company reported net revenues of $25.1 million for the fiscal year ended March 31, 2026, compared to $20.5 million for fiscal 2025. Gross margin was 54.5% for fiscal 2026 compared to 49.4% in fiscal 2025. The increase in gross margin was primarily due to product mix and the effect of higher revenue on fixed costs in the cost of revenue.

Total operating expenses were $31.2 million in fiscal 2026, compared to $21.0 million in fiscal 2025. Research and development expenses were $19.9 million, compared to $16.0 million in the prior fiscal year. Selling, general and administrative expenses were $11.2 million, compared to $10.8 million in fiscal 2025. The increase in research and development expenses was primarily due to costs related to the launch of the Plato chip design.

Research and development expenses offset in fiscal 2026 and fiscal 2025 were $1.0 million and $1.2 million, respectively, reflecting government funding received under the various SBIR programs GSI has been awarded. Operating expenses in fiscal 2025 include a gain on the sale of assets of $5.8 million from the sale of the Company's headquarters building in Sunnyvale, CA, in a sales and leaseback transaction.

The operating loss for fiscal 2026 was $17.5 million compared to an operating loss of $10.8 million in the prior year. The fiscal 2026 net loss included interest and other income of $4.1 million and a tax benefit of $132,000, compared to $326,000 in interest and other income and a tax provision of $130,000 in the prior fiscal year. The fiscal 2026 net loss included $3.4 million of other income, including a non-cash accounting adjustment of $6.2 million for the change in the fair value of pre-funded warrants and issuance costs of $2.8 million from the Registered Direct Offering in October 2025.

Net loss for fiscal 2026 was $13.2 million, or $(0.42) per diluted share, compared to a net loss of $10.6 million, or $(0.42) per diluted share, for fiscal 2025.

**Fourth Quarter Fiscal Year 2026 Summary Financials** 

The Company reported net revenues of $6.3 million for the fourth quarter of fiscal 2026, compared to $5.9 million for the fourth quarter of fiscal 2025 and $6.1 million for the third quarter of fiscal 2026. Gross margin was 52.4% in the fourth quarter of fiscal 2026 compared to 56.1% in the fourth quarter of fiscal 2025 and 52.7% in the preceding third quarter of fiscal 2026. The year-over-year decrease in gross margin in the fourth quarter of fiscal 2026 was primarily due to product mix.

Below is a breakdown of the fourth quarter of fiscal 2026 sales compared to the fourth quarter of fiscal 2025 and the third quarter of fiscal 2026:

* KYEC represented $1.4 million, or 22.3% of net revenues, compared to $1.7 million, or 29.5% of net revenues, in the same period a year ago and $1.1 million, or 17.9% of net revenues, in the prior quarter.

* There were no shipments to Cadence Design Systems in the fourth quarter of fiscal 2026, compared to $642,000, or 10.9% of net revenues, in the same period a year ago and $233,000, or 3.8% of net revenues, in the prior quarter.

* Nokia represented $113,000, or 1.8% of net revenues, compared to $444,000, or 7.5% of net revenues, in the same period a year ago and $675,000, or 11.1% of net revenues, in the prior quarter.

The following is the breakdown of shipments in the fourth quarter of fiscal 2026 compared to the fourth quarter fiscal 2025 and the third quarter of fiscal 2026:

* Military/defense sales were 45.7% of fourth-quarter shipments, compared with 30.7% in the comparable period a year ago and 28.5% in the prior quarter.

* SigmaQuad sales were 32.6% of fourth quarter shipments compared to 39.3% in the fourth quarter of fiscal 2025 and 41.7% in the prior quarter.

Total operating expenses in the fourth quarter of fiscal 2026 were $8.5 million, compared to $5.6 million in the fourth quarter of fiscal 2025 and $10.1 million in the prior quarter. Research and development expenses were $5.6 million, compared to $3.0 million in the prior-year period and $7.5 million in the prior quarter. Research and development expenses in the fourth quarter of fiscal 2026 were offset by $48,000 from government funding under the SBIR programs. The prior quarter's research and development reflects expenses of $3.6 million for the purchase of IP for the development of Plato and associated consulting expenses. Selling, general and administrative expenses were $2.9 million in the quarter ended March 31, 2026, compared to $2.6 million in the prior year quarter and $2.6 million in the previous quarter.

Fourth quarter fiscal 2026 operating loss was $5.2 million compared to an operating loss of $2.3 million in the prior-year period and $6.9 million in the prior quarter. Fourth quarter fiscal 2026 net loss included interest and other income of $408,000 and a tax provision of $24,000, compared to interest and other income of $52,000 and a tax provision of $6,000 for the same period a year ago. In the preceding third quarter, net loss included $3.4 million of other income, including a non-cash accounting adjustment of $6.2 million for the change in the fair value of the pre-funded warrants and issuance costs of $2.8 million from the Registered Direct Offering in the third quarter, and a tax benefit of $(251,000).

Net loss in the fourth quarter of fiscal 2026 was $4.8 million, or $(0.13) per diluted share, compared to a net loss of $2.2 million, or $(0.09) per diluted share, for the fourth quarter of fiscal 2025 and a net loss of $3.0 million, or $(0.09) per diluted share, for the third quarter of fiscal 2026.

Total fourth quarter pre-tax stock-based compensation expense was $823,000 compared to $512,000 in the comparable quarter a year ago and $783,000 in the prior quarter.

The table below has been provided to complement the condensed consolidated statement of cash flows included in our Forms 10-Q and 10-K.

Cash flows for the quarter ended March 31, 2026 (in thousands of dollars):

---

| | |
|:---|:---|
| Cash and cash equivalents as of December 31, 2025 | $70672 |
| Net cash used in operating activities | (5452) |
| Net cash used by investing activities | (150) |
| Net cash provided by financing activities | 2142 |
| Cash and cash equivalents as of March 31, 2026 | $67212 |

---

Cash and cash equivalents as of December 31, 2025, primarily reflects $46.9 million in net proceeds from the Company's October 2025 Registered Direct Offering. Cash used in operating activities during the fourth quarter includes spending for the development and commercialization of Gemini-II and Plato. Fourth quarter cash flows from financing activities were primarily from employee stock option exercises.

At March 31, 2026, the Company had $67.2 million in cash and cash equivalents, compared to $13.4 million at March 31, 2025. Working capital was $70.0 million as of March 31, 2026, versus $16.4 million at March 31, 2025. Stockholders' equity as of March 31, 2026, was $81.8 million, compared to $28.2 million as of the fiscal year ended March 31, 2025.

**Conference Call**

Management will conduct a conference call to review the Company's financial results for the fourth quarter and fiscal year 2026 and its current outlook for the first quarter of fiscal 2027 at 1:30 p.m. Pacific time (4:30 p.m. Eastern Time) today.

To participate in the call, please dial 1-844-826-3035 in the U.S. or 1-412-317-5195 for international approximately 10 minutes prior to the above start time and provide Conference ID 10208819. The call will also be streamed live via the internet at www.gsitechnology.com.

A replay will be available from May 7, 2026, at 7:30 p.m. Eastern Time through May 14, 2026, at 11:59 p.m. Eastern Time by dialing 1-844-512-2921 in the U.S. or 1-412-317-6671 for international and providing Conference ID 10208819. A webcast of the call will be archived on the Company's investor relations website under the Events and Presentations tab.

**About GSI Technology**

GSI Technology is at the forefront of the AI revolution with our groundbreaking APU technology, designed for unparalleled efficiency in billion-item database searches and high-performance computing. GSI's innovations, Gemini-I® and Gemini-II®, offer scalable, low-power, high-capacity computing solutions that redefine edge computing capabilities.

GSI Technology is headquartered in Sunnyvale, California, and has sales offices in the Americas, Europe, and Asia. For more information, please visit www.gsitechnology.com.

**Forward-Looking Statements**

Source: GSI Technology, Inc.

**Contacts:**

**Investor Relations:**

Hayden IR

Kim Rogers

385-831-7337

kim@haydenir.com

**Media Relations:**

Finn Partners for GSI Technology

Ricca Silverio

415-348-2724

gsi@finnpartners.com

**Company:**

GSI Technology, Inc.

Douglas M. Schirle

Chief Financial Officer

408-331-9802

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **GSI TECHNOLOGY, INC.** | **GSI TECHNOLOGY, INC.** | **GSI TECHNOLOGY, INC.** | **GSI TECHNOLOGY, INC.** | **GSI TECHNOLOGY, INC.** | **GSI TECHNOLOGY, INC.** |
| **CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** | **CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** | **CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** | **CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** | **CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** | **CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS** |
| **(in thousands, except per share data)** | **(in thousands, except per share data)** | **(in thousands, except per share data)** | **(in thousands, except per share data)** | **(in thousands, except per share data)** | **(in thousands, except per share data)** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | <u>**Three Months Ended**</u> | <u>**Three Months Ended**</u> | <u>**Three Months Ended**</u> | <u>**Twelve Months Ended**</u> | <u>**Twelve Months Ended**</u> |
|  | **March 31,** | **Dec. 31,** | **March 31,** | **March 31,** | **March 31,** |
|  | <u>**2026**</u> | <u>**2025**</u> | <u>**2025**</u> | <u>**2026**</u> | <u>**2025**</u> |
| Net revenues | $6319 | $6076 | $5883 | $25122 | $20518 |
| Cost of goods sold | 3008 | 2876 | 2584 | 11427 | 10378 |
| Gross profit | 3311 | 3200 | 3299 | 13695 | 10140 |
| Operating expenses: |  |  |  |  |  |
| Research & development | 5625 | 7457 | 2966 | 19947 | 16005 |
| Selling, general and administrative | 2894 | 2649 | 2609 | 11225 | 10763 |
| Gain from sale of assets | - | - | - | - | (5793) |
| Total operating expenses | 8519 | 10106 | 5575 | 31172 | 20975 |
| Operating loss | (5208) | (6906) | (2276) | (17477) | (10835) |
| Interest and other income, net | 408 | 3635 | 52 | 4099 | 326 |
| Loss before income taxes | (4800) | (3271) | (2224) | (13378) | (10509) |
| Provision (benefit) for income taxes | 24 | (251) | 6 | (132) | 130 |
| Net loss | 4824) | 3020) | 2230) | 13246) | 10639) |
| Net loss per share, basic | 0.13) | 0.09) | 0.09) | 0.42) | 0.42) |
| Net loss per share, diluted | 0.13) | 0.09) | 0.09) | 0.42) | 0.42) |
| Weighted-average shares used in |  |  |  |  |  |
| computing per share amounts: |  |  |  |  |  |
| Basic | 36294 | 34510 | 25604 | 31839 | 25498 |
| Diluted | 36294 | 34510 | 25604 | 31839 | 25498 |
| Stock-based compensation included in the Condensed Consolidated Statements of Operations: | Stock-based compensation included in the Condensed Consolidated Statements of Operations: | Stock-based compensation included in the Condensed Consolidated Statements of Operations: | Stock-based compensation included in the Condensed Consolidated Statements of Operations: | Stock-based compensation included in the Condensed Consolidated Statements of Operations: |  |
|  | <u>**Three Months Ended**</u> | <u>**Three Months Ended**</u> | <u>**Three Months Ended**</u> | <u>**Twelve Months Ended**</u> | <u>**Twelve Months Ended**</u> |
|  | **March 31,** | **Dec. 31,** | **March 31,** | **March 31,** | **March 31,** |
|  | <u>**2026**</u> | <u>**2025**</u> | <u>**2025**</u> | <u>**2026**</u> | <u>**2025**</u> |
| Cost of goods sold | $68 | $61 | $42 | $231 | $199 |
| Research & development | 346 | 358 | 263 | 945 | 1010 |
| Selling, general and administrative | 409 | 364 | 207 | 1627 | 1053 |
|  | $823 | $783 | $512 | $2803 | $2262 |

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| | | |
|:---|:---|:---|
| **GSI TECHNOLOGY, INC.** | **GSI TECHNOLOGY, INC.** | **GSI TECHNOLOGY, INC.** |
| **CONDENSED CONSOLIDATED BALANCE SHEETS** | **CONDENSED CONSOLIDATED BALANCE SHEETS** | **CONDENSED CONSOLIDATED BALANCE SHEETS** |
| **(in thousands)** | **(in thousands)** | **(in thousands)** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | <u>March 31, 2026</u> | <u>March 31, 2025</u> |
| Cash and cash equivalents | $67212 | $13434 |
| Accounts receivable | 4237 | 3169 |
| Inventory | 4079 | 3891 |
| Other current assets | 3659 | 2961 |
| Net property and equipment | 883 | 808 |
| Operating lease right-of-use assets | 8264 | 9547 |
| Other assets | 9619 | 9507 |
| Total assets | $97953 | $43317 |
| Current liabilities | $9196 | $7074 |
| Long-term liabilities | 6996 | 8017 |
| Stockholders' equity | 81761 | 28226 |
| Total liabilities and stockholders' equity | $97953 | $43317 |

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