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Get filing alertsGSI Technology reports flat Q1 revenue, widens loss to $4.8M on Plato R&D ramp
Filed July 30, 2026 · Period ending July 30, 2026 · ~1 min read
Key Changes
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high
Q1 FY2027 revenue $6.3M (flat YoY and QoQ), gross margin 53.4% (down from 58.1% prior year on product mix), net loss $4.8M or $0.13/share (vs. $2.2M/$0.08 prior year)
Exhibit 99.1 view on EDGAR → -
high
R&D spending nearly doubled to $5.9M (from $3.1M prior year), driven by external design services for Plato processor on track for March 2027 tape-out
Exhibit 99.1 view on EDGAR → -
high
Raised $14M in cash: $9.3M from ATM stock sales and $4.8M from employee option exercises; cash position increased to $77.0M from $67.2M prior quarter
Exhibit 99.1 view on EDGAR → -
medium
Gemini-II completed Sentinel lab testing with favorable feedback and all technical milestones met; Smart City Phase I deployment on schedule for November 2026
Exhibit 99.1 view on EDGAR → -
medium
Q2 FY2027 guidance: revenue $5.7M–$6.5M (midpoint $6.1M, down slightly from Q1), gross margin 53%–55%
Exhibit 99.1 view on EDGAR →
Summary
GSI Technology reported Q1 FY2027 results showing flat revenue of $6.3 million but a widening net loss of $4.8 million, driven by a near-doubling of R&D spending to $5.9 million. The increased R&D reflects external design services for the company's next-generation Plato processor, which remains on schedule for March 2027 tape-out. Gross margin compressed to 53.4% from 58.1% a year ago due to product mix shifts.
The company raised $14 million in cash during the quarter through ATM stock sales and employee option exercises, bringing its cash position to $77 million and working capital to $80 million. On the product front, GSI completed Sentinel laboratory testing with favorable feedback and met all technical milestones, while the Smart City Phase I deployment remains on track for November 2026.
Gemini-II also passed radiation testing under harsh aerospace conditions, potentially opening defense and aerospace markets. Management guided Q2 revenue to $5.7 million–$6.5 million with gross margin of 53%–55%, suggesting continued flat to slightly declining revenue as the company invests heavily in Plato development while managing operating losses with its cash cushion.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Net revenues $6,312 ... Gross profit 3,369 ... Operating income (loss) (5,385 ) ... Net income (loss) ($4,792 ) ... Net income (loss) per share, diluted ($0.13 )
GSI Technology reported Q1 FY2027 revenue of $6.3 million, flat year-over-year and quarter-over-quarter. Gross margin was 53.4%, down from 58.1% in the prior year due to product mix. Operating loss widened to $5.4 million from $2.2 million a year ago, driven by higher R&D spending on the Plato chip design. Net loss was $4.8 million, or $0.13 per diluted share, compared to $2.2 million or $0.08 per share in Q1 FY2026.
Added in current filing · view on EDGAR →
Research and development expenses were $5.9 million, compared to $3.1 million in the prior-year period and $5.6 million in the prior quarter. The year-over-year increase in research and development expenses during the first quarter of fiscal 2027 was driven primarily by external design services related to the development of our next-generation Plato processor.
R&D expenses nearly doubled year-over-year to $5.9 million, primarily due to external design services for the Plato processor, which remains on schedule for March 2027 tape-out. The company also noted that government SBIR funding offset some R&D costs, totaling $336,000 this quarter versus $543,000 in the prior year.
Added in current filing · view on EDGAR → · paraphrased
Cash and cash equivalents as of June 30, 2026 $77,045 ... Net cash provided by financing activities 14,049 ... The increase in cash and cash equivalents as of June 30, 2026, primarily reflects net proceeds of $9.3 million from the sales of stock through the ATM, and $4.8 million in proceeds from employee stock option exercises.
Cash and cash equivalents increased to $77.0 million from $67.2 million at the end of the prior quarter. The company raised $9.3 million through at-the-market stock sales and $4.8 million from employee option exercises, partially offsetting $3.9 million in operating cash burn. Working capital improved to $80.0 million from $70.0 million.
Added in current filing · view on EDGAR →
Sentinel laboratory testing completed receiving favorable feedback from all parties, with GSI successfully delivering all planned technical milestones ... Smart City Phase I deployment remains on schedule for completion in November 2026 ... We also successfully completed radiation testing on a standard commercial Gemini-II device, demonstrating that it continued to operate normally under radiation levels representative of harsh aerospace environments.
The company completed Sentinel laboratory testing with favorable feedback and all technical milestones met. The Smart City Phase I deployment is on track for November 2026 completion. Additionally, Gemini-II passed radiation testing under harsh aerospace environment conditions, expanding its potential applications into aerospace and defense markets.
Added in current filing · view on EDGAR →
Our current expectation for the second quarter of fiscal 2027 is for net revenues in the range of $5.7 million to $6.5 million, with gross margin of approximately 53% to 55%.
Management guided Q2 FY2027 revenue to $5.7 million to $6.5 million with gross margin of 53% to 55%. The midpoint of $6.1 million would represent a slight sequential decline from Q1's $6.3 million.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 30, 2026 · How we verify