广船国际技术 2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(D)OF THE SECURITIESEXCHANGE ACT OF 1934For the quarterly period endedSeptember 30, 2025or☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(D)OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period fromto Commission File Number001-33387 GSI Technology,Inc.(Exact name of registrant as specified in its charter) Delaware77-0398779(State or other jurisdiction of incorporation or organization)(IRS Employer Identification No.) 1213 Elko DriveSunnyvale,California94089(Address of principal executive offices, zip code) (408)331-8800(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2)has been subject to such filing requirements for the past 90 days.Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was requiredto submit such files).Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”,“smaller reporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer◻Accelerated filer◻Non-accelerated filer⌧Smaller reporting company☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ GSI TECHNOLOGY,INC. FORM10-Q FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2025 PARTI — FINANCIAL INFORMATION Item 1.Financial Statements (unaudited)2Condensed Consolidated Balance Sheets2Condensed Consolidated Statements of Operations3Condensed Consolidated Statements of Comprehensive Loss4Condensed Consolidated Statements of Stockholders’ Equity5Condensed Consolidated Statements of Cash Flows6Notes to Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations20Item 3.Quantitative and Qualitative Disclosures About Market Risk28Item 4.Controls and Procedures28 PARTII — OTHER INFORMATION Item1A.Risk Factors29Item 2.Unregistered Sales of Equity Securities and Use of Proceeds48Item 5.Other information48Item 6.Exhibits48Signatures49 PARTI — FINANCIAL INFORMATION Item 1.Financial Statements(unaudited) GSI TECHNOLOGY,INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) GSI TECHNOLOGY,INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) GSI TECHNOLOGY,INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVELOSS (Unaudited) The accompanying notes are an integral part of these condensed consolidated financial statements. GSI TECHNOLOGY,INC. CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY(Unaudited) GSI TECHNOLOGY,INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS GSI TECHNOLOGY,INC. NOTES TOCONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) NOTE 1—THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed consolidated financial statements of GSITechnology,Inc. and its subsidiaries (“GSI” or the “Company”) have been prepared in accordancewith accounting principles generally accepted in the United States of America (“GAAP”) and pursuantto the instructions to Form10-Q and Article10 of Regulation S-X of the Securities and ExchangeCommission.Accordingly, the interim financial statements do not include all of the information andfootnotes required by GAAP for annual financial statements.These interim financial statementscontain all adjustments (which consist of only normal, recurring adjustments) that are, in the opinionof management, necessary to state fairly the interim financial information included therein.TheCompany believes that the disclosures are adequate to make the information not misleading.However,these financial statements should be read in conjunction with the audited consolidated financialstatements and related notes thereto included in the Company’s Annual Report on Form10-K for thefiscal year ended March 31, 2025. The consolidated results of operations for the six months ended September 30, 2025 are notnecessarily indicative of the results to be expected for the entire fiscal year. Significan