GSI Technology Inc

gsitechnology.com

What Do They Do?

Sells high-speed static random-access memory chips to networking and telecommunications, test-equipment, and military and aerospace customers, and develops associative-processing chips for artificial intelligence and high-performance computing.

How Do They Make Money?

Customers buy SRAM products through direct sales or distributors; GSI has a right to payment when products ship, with typical payment due 30 to 60 days later.

FY2026 revenue

Who Are Their Customers?

Sells to equipment makers in networking and telecommunications, test and measurement, and military and aerospace markets. It reaches them through its direct sales force, independent sales representatives and distributors.

Customers above 10% of revenue, FY2026

of revenue from two customers (64%, 14%)

FY2025: 73% from two customers

Do Revenues Turn Into Profits?

No. It lost $13.2M in FY2026.

Operating income, FY2026

−70% of revenue

▲ +61% (Loss) vs FY2025 (−$10.8M, −53%)

Net income, FY2026

−53% of revenue

▲ +25% (Loss) vs FY2025 (−$10.6M, −52%)

Free cash flow, FY2026

−65% of revenue

▲ +26% (Loss) vs FY2025 (−$13M, −63%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q1 FY2027, the three months to Jun 30, 2026

Revenue: ▲ 0%; vs $6.3M in Q1 FY2026
Net income: ▲ +116% (Loss); vs −$2.2M in Q1 FY2026

Shrinking. Revenue fell 25% in 4 years, from $33.4M in FY2022 to $25.1M in FY2026, about 7% a year.

From similarity search to edge inference The earlier report framed the APU mainly around similarity search and vector search, with edge uses among potential applications; the latest report also emphasizes real-time inference and physical AI in robotics, autonomous platforms and industrial sensing.

Who Do They Compete With?

Competes with NVIDIA, Infineon Technologies, Integrated Silicon Solution, and Renesas Electronics

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