GSI Technology, Inc. (GSIT) stock plummeted 13.25% in the pre-market trading session at the price of $3.60 after it has scheduled to report financial results for the fourth quarter of fiscal 2022.
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GSI Technology, established in 1995, is a global producer and seller of semiconductor memory solutions. The stock has recently introduced radiation-hardened memory products for harsh environments in space. The company’s Gemini APU is a memory-centric device that provides significant performance benefits for multiple AI applications.
GSIT Scheduled Q4 Fiscal 2022 Results
On 21st April 2022, GSIT has scheduled to disclose its earnings report for the fourth quarter of fiscal 2022 ended on 31st March 2022. Management will conduct a webcast to review the financial results and current business outlook on 5th May 2022 at 1:30 p.m. ET. The conference call and presentation will be available on the company’s official page.
GSIT Current Updates
The GSIT management team is working to build its sales channel and Proof of Concept activity, given the demand for the APU is growing. In addition to its IAI/Elta SAR imaging pipeline, GSIT is collaborating with numerous other institutions to engage in POCs for search application use-cases. The company has disclosed the interest of a prime contractor in testing its military and defense appliances.
GSIT Business Outlook
The government agencies expect to incorporate the stock’s APU in several facial recognition and object detection devices. GSIT also hopes to get design-winning awards for its POCs in the upcoming future. The management acknowledged that the supply chain restrictions during the past quarters had impacted the company’s capacity to fulfill all the orders.
Despite some advancements, the situation stays fluid, and the stock does not expect considerable relief from these limitations before the end of 2022. Given the constraints, GSIT anticipates net revenues for fiscal Q4 to range from US$7.5M to US$8.5M. For the fourth quarter of fiscal 2022, the gross margin has expected to be between 54 percent to 56 percent.