GSI Technology’s Gemini-II Achieves 3-Second Edge TTFT at 30W Versus Qualcomm and NVIDIA
Preliminary tests show GSI’s Gemini-II processor achieved a 3-second time-to-first-token running a 12B vision-language model at ~30 W, versus 12 seconds at 30 W on Qualcomm’s Snapdragon X Elite and 3 seconds at >100 W on NVIDIA Jetson Thor. They highlight Gemini-II’s low-latency, energy-efficient edge inference for drones, smart cities and defense systems.
1. Third Quarter Revenue and Profitability
GSI Technology reported net revenues of $6.1 million for the third fiscal quarter ended December 31, 2025, representing a 12% year-over-year increase from $5.4 million in the prior year period. Gross margin for the quarter was 52.7%, down from 54.0% a year earlier, driven primarily by a shift in product mix. The company’s operating loss widened to $6.9 million versus a $4.1 million loss in the third quarter of fiscal 2025, as research and development expenses climbed to $7.5 million—nearly double the $4.0 million spent in the year-ago quarter—and selling, general and administrative expenses declined modestly to $2.6 million from $3.0 million.
2. Cash Generation and Capital Structure
At quarter-end, GSI Technology held $70.7 million in cash and equivalents, up sharply from $25.3 million at the start of the period, driven by $46.9 million in net proceeds from a Registered Direct Offering in October 2025. Operating activities consumed $7.9 million of cash, while investing outflows totaled $0.3 million and financing activities provided $53.5 million. Working capital improved to $71.7 million from $16.4 million at March 31, 2025, and stockholders’ equity rose to $83.6 million from $28.2 million over the same interval.
3. Commercial Milestones and Technology Validation
During the quarter, GSI advanced its Gemini-II compute-in-memory APU: third-party benchmarks demonstrated a multimodal edge inference workload achieving a 3-second time-to-first-token at ~30 watts system power, outperforming GPU-based alternatives at substantially higher power. The company also entered a proof-of-concept agreement with G2 Tech and two government agencies for an autonomous perimeter security system using drones and real-time video analytics, with approximately $1 million in expected government funding.
4. Near-Term Outlook and Guidance
For the fourth quarter of fiscal 2026, GSI Technology projects net revenues in the range of $5.7 million to $6.5 million and gross margin of approximately 54% to 56%. Management anticipates sustained demand for its SRAM solutions, particularly from chip design and simulation systems customers in the first half of calendar 2026. The company is also targeting initial design wins for Gemini-II in defense programs and select commercial edge deployments, supported by its recent equity financing and growing validation data.