Revenue and SRAM business remain stable, but accelerating cash burn from Gemini-II/Plato development warrants close monitoring of design win conversions. The $67M cash runway supports operations into FY2027 but the path to profitability hinges on Gemini-II commercialization. Watch for upcoming G2 Tech Sentinel drone demonstration in June 2026 and additional SBIR awards as catalysts.
Price Chart
Executive Summary
GSI Technology reported Q4 FY2026 revenue of $6.3M (+7.4% YoY) but net loss widened to $4.8M ($0.13/share) from $2.2M ($0.09) a year ago, as R&D spending on Gemini-II and Plato chip design increased. Full-year revenue grew 22% to $25.1M with gross margin expansion to 54.5%, but operating loss grew to $17.5M. Guidance for Q1 FY2027 revenue of $5.9M-$6.7M is in line with recent trends. Subsequent to quarter end, the company secured a ~$2M U.S. Army SBIR contract and a Phase I smart city project, providing non-dilutive funding and commercial validation for Gemini-II.
Key Financial Metrics
Key Facts
- Q4 FY2026 revenue $6.3M, +7.4% YoY vs $5.9M
- Q4 net loss $4.8M ($0.13/diluted) vs $2.2M ($0.09) YoY
- Full year FY2026 revenue $25.1M, +22% YoY
- Full year gross margin 54.5% vs 49.4%
- Operating loss $17.5M FY2026 vs $10.8M FY2025
- Cash balance $67.2M, no debt, as of March 31, 2026
- Guidance: Q1 FY2027 revenue $5.9M-$6.7M, gross margin 54-56%
- Awarded ~$2M U.S. Army SBIR Phase II contract for Gemini-II edge AI platform
- Secured Phase I smart city project subsequent to quarter end
- Operating cash used $5.5M in Q4, $13.3M for FY2026
- Fiscal year EPS ($0.42) flat YoY on higher share count
Financial Impact
Revenue growth and government contracts offset by widening losses; significant R&D spend continues
Risk Factors
- Continued operating losses and cash burn as R&D spending scales for Gemini-II and Plato
- Dependence on converting government contracts and pilot programs into recurring revenue
- Customer concentration risk from KYEC, Nokia, and reliance on military/defense sales
- Dilution risk from share issuances; weighted average shares up 41% YoY in Q4
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-003155 |
| Document: f8k_050626.htm | 0001171843-26-003155 |
| Document: 0001171843-26-003155-index-headers.html | 0001171843-26-003155 |
| Document: 0001171843-26-003155-index.html | 0001171843-26-003155 |
| Document: 0001171843-26-003155.txt | 0001171843-26-003155 |
| 8-K Data (Synthetic) | 0001171843-26-003155 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $3.86 | awaiting T+60 | — | $3.95 (+2.33%) |
Sep 22, 2026 5w ago | Institutional Cluster | $5.86 | awaiting T+60 | — | $3.95 (−32.59%) |
Jul 30, 2026 12w ago | Press Release | $5.61 $3.95 | ▼ −29.59% | ▼ −32.05% | $3.95 (−29.59%) |
Jun 11, 2026 19w ago | Institutional Cluster | $7.93 $5.35 | ▼ −32.53% | ▼ −36.93% | $3.95 (−50.19%) |
Jun 3, 2026 20w ago | Insider Cluster | $9.55 $5.70 | ▲ +40.31% | ▲ +42.20% | $3.95 (+58.64%) |
Jun 3, 2026 20w ago | Insider Cluster | $9.55 $5.70 | ▲ +40.31% | ▲ +42.20% | $3.95 (+58.64%) |
May 27, 2026 21w ago | Insider Cluster | $10.64 $5.99 | ▼ −43.70% | ▼ −45.44% | $3.95 (−62.88%) |
May 26, 2026 22w ago | Insider Cluster | $10.33 $5.95 | ▲ +42.40% | ▲ +44.28% | $3.95 (+61.76%) |
May 22, 2026 22w ago | Insider Cluster | $10.55 $5.97 | ▲ +43.41% | ▲ +46.14% | $3.95 (+62.56%) |
May 22, 2026 22w ago | 8-K | $9.66 $6.32 | ▼ −34.58% | ▼ −37.77% | $3.95 (−59.11%) |
US Market Status
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