AI Earnings Predictions for GCT Semiconductor Holding Inc. (GCTS)

EX-99.1

2 exhibit99-1.htm

PRESS RELEASE, DATED AUGUST 10, 2026, OF GCT SEMICONDUCTOR HOLDING, INC.

Exhibit 99.1

GCT Semiconductor Holding, Inc. Provides Business Update and Reports Second Quarter 2026 Financial Results

5G Chipset Shipments in Q2 2026 Increased Approximately 71% Sequentially

SAN JOSE, CA – August 10, 2026 – GCT Semiconductor Holding, Inc. (“GCT” or the “Company”) (NYSE: GCTS), a leading designer and supplier of 5G semiconductors powering the AI data pipeline with wireless connectivity, today provided an update on business developments and reported financial results for the second quarter ended June 30, 2026.

Scaling the 5G Opportunity Toward Broad Commercial Ramp

Development, integration, certification and sales activities continued progressing across GCT’s 5G customer pipeline. Although customer restructuring and evolving deployment schedules shifted the timing of certain launches, customer engagement and underlying demand remain strong, culminating in the shipment of over 5,100 5G chipsets during Q2, reinforcing the expected commercial ramp across GCT’s three strategic growth markets:

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Terrestrial Broadband: Advanced multiple FWA and CPE programs, and carrier certification activities supporting future device launches including for AI data applications.

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Partners include: Airspan, MaxLinear, Orbic, a leading global telecom supplier as well as a major U.S. carrier.

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Satellite and Non-Terrestrial Connectivity: Progressed multiple

direct-to-device and hybrid satellite-cellular programs, including ongoing development and certification activities supporting the next generation of ubiquitous 5G connectivity to support the AI data pipeline.

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Partners include: Globalstar as well as one of the world’s largest satellite communications providers, among others.

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IoT and Specialized Networks: Expanded GCT’s addressable market through programs spanning IoT including wearables, and defence applications, including UAV connectivity, positioning, navigation and timing (PNT), and aviation connectivity.

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Partners include: Gogo, Airspan as well as other potential large strategic partners.

“We made continued progress during the second quarter as we advanced our 5G semiconductor platform across three key growth areas: terrestrial broadband, satellite and non-terrestrial connectivity, and IoT and specialized networks,” said John Schlaefer, CEO of GCT. “5G chipset shipments increased approximately 71% sequentially from last quarter as we continued supporting customer programs across a broad range of applications, including fixed wireless access, satellite connectivity, private networks, industrial IoT and other specialized connectivity solutions. We also expanded into new connectivity markets through a recent strategic collaboration, leveraging GCT’s IoT technology and module capabilities to support UAV control and communications applications across commercial and defense-related use cases. This collaboration highlights the versatility of our technology platform and our ability to address an expanding range of connectivity needs.”

Schlaefer added, “While broader market dynamics, including industry consolidation, restructuring activities and shifting customer deployment schedules, have impacted the timing of certain programs, we remain encouraged by the strength of our customer engagement and expanding opportunity pipeline. As we look ahead, we remain focused on advancing customer programs toward commercialization and believe the breadth of our 5G platform, growing ecosystem of partnerships and diversified market opportunities position GCT well to capitalize on the significant long-term growth opportunities across 5G connectivity markets.  With these developments, we now have greater visibility and are building the demand for our 5G products across multiple fronts.”

Second Quarter 2026 Financial Results

Results compare the 2026 fiscal second quarter ended June 30, 2026, to the 2025 fiscal second quarter ended June 30, 2025.

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Net revenues were $1.0 million, a 17.9% decrease from $1.2 million.

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Gross margin was negative as we continue to experience low product revenue, which is currently not sufficient to fully absorb production overhead costs and not representative of our expectations regarding profitability of our products and services in future reporting periods. We expect gross margins to improve as 5G product sales ramp up and contribute more significantly to revenue. Gross margin for the three months ended June 30, 2025 was 32%.

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Total operating expenses were $7.2 million, a 9.8% decrease from $8.0 million.

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Net Loss was $20.4 million, a 50.5% increase from $13.5 million. Net loss for the second quarter of 2026 included $12.3 million in losses from change in fair value of common stock warrant liabilities.

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Adjusted EBITDA loss was $6.6 million, a decrease of 1.7% from $6.7 million.

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Cash and Cash equivalents of $30.2 million as of June 30, 2026.

“Our reported second

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): June 18, 2026

GCT Semiconductor Holding, Inc.

(Exact Name of Registrant as Specified in Its Charter)

001-41013

(Commission File Number)

Delaware

86-2171699

(State or Other Jurisdiction of Incorporation)

(I.R.S. Employer Identification No.)

2290 North 1st Street, Suite 201

San Jose, CA 95131

(Address of principal executive offices, including zip code)

(408) 434-6040

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(g) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

GCTS

NYSE

Warrants, each whole warrant exercisable for one share of Common Stock for $11.50 per share

GCTS.WS

NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

tem 8.01. Other Events.

GCT Semiconductor Holding, Inc. (the “Company”) is filing this Current Report on Form 8-K for the purpose of filing a copy of the legal opinion, attached as Exhibit 5.1 hereto, as to the legality of shares of common stock of the Company issuable under the At Market Issuance Sales Agreement (the “Sales Agreement”) dated April 1, 2025, between the Company and sales agents named therein, pursuant to a prospectus supplement filed on June 18, 2026, which supplements the registration statement on Form S-3 (File No. 333-286316) that was declared effective by the SEC on April 9, 2025.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the shares of Common Stock discussed herein, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Index

Exhibit

Number

Description

5.1

Opinion of Morgan, Lewis & Bockius LLP

23.1

Consent of Morgan, Lewis & Bockius LLP (included in Opinion of Morgan, Lewis & Bockius LLP filed as Exhibit 5.1)

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GCT SEMICONDUCTOR HOLDING, INC.

June 18, 2026

By:

/s/ Edmond Cheng

Name:

Edmond Cheng

Title:

Chief Financial Officer

EX-99.1

6 exhibit99-1.htm

GCT Semiconductor Holding, Inc. Provides Business Update and Reports First Quarter 2026 Financial Results

Q1 2026 Total Revenue Increased Approximately 287% Year-Over-Year

5G Chipsets Shipments in Q1 2026 Increased Approximately 58% Sequentially

SAN JOSE, CA – May 12, 2026 – GCT Semiconductor Holding, Inc. (“GCT” or the “Company”) (NYSE: GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, today provided an update on business developments and reported financial results for the first quarter ended March 31, 2026.

Recent Operational Highlights

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5G chipset shipments in Q1 of 2026 increased sequentially by approximately 58% to 3,000

units, signaling the anticipated commercial ramp, which is expected to continue throughout the year as additional orders from lead customers are received.

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Expanded licensing agreement with one of the world's largest satellite communications providers to include additional GCT 5G and 4G chipset integrations across next-generation user equipment, reinforcing the Company’s role in enabling seamless satellite-terrestrial connectivity, broadening deployment scope, and supporting a multi-phase pathway for increased chipset adoption. The initial 5G chipset shipments to this partner remain on track to begin in the second half of 2026.

“Following the foundational progress of our commercial 5G operations at the end of 2025, our first quarter 2026 results demonstrate that we have now entered a new phase defined by increasing customer shipments,” said John Schlaefer, Chief Executive Officer of GCT. “In the first quarter we delivered a substantial 58% sequential increase in 5G chipset shipments, a clear indicator that customers are continuing to transition from evaluation into early deployment. At the same time, we are expanding the scope and depth of our customer relationships and chipset use cases. Our broadened licensing agreement with one of the world’s largest global satellite communications providers highlights the growing importance of GCT technology in enabling converged connectivity across both terrestrial and non-terrestrial networks. We view this as a multi-phase opportunity that can drive incremental adoption of our solutions over time as next generation user equipment platforms are introduced.

“Looking ahead, our focus remains on scaling 5G chipset production by strengthening our supply chain and operational infrastructure to support higher volumes. While we are still in the early stages of this ramp, we believe the progress achieved in the first quarter reinforces our expectation, and aligns with our previous experience in 4G. We expect sequential growth in 5G chipset shipments as commercialization ramps throughout the year.”

"Our first quarter results reflect a meaningful step from last quarter but remain modest in comparison to our mid-and-long-term expectations," said Edmond Cheng, Chief Financial Officer of GCT. "Our revenue increased 287%

year-over-year, driven by increased 5G shipments and continued contribution from our service and new contracts win, as we support our lead customers in their transition to 5G. Moving further into 2026, our priorities remain consistent: maintaining financial flexibility and disciplined capital allocations to support 5G chipset commercialization and volume production readiness to ensure we are positioned to capitalize on the expanding 5G opportunity.”

First Quarter 2026 Financial Results

Results compare the 2026 fiscal first quarter ended March 31, 2026, to the 2025 fiscal first quarter ended March 31, 2025.

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Net revenues were $1.9 million, a 287.1% increase from $0.5 million.

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Gross margin for the three months ended March 31, 2026 increased to 49.3% compared to 17.7% in the period ended March 31, 2025, primarily due to higher margins from the Company’s service offerings and increased share of 5G platform sales throughout the 2026 fiscal first quarter.

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Total operating expenses were $7.1 million, a 9.6% decrease from $7.8 million.

Liquidity

The Company's existing sources of liquidity as of March 31, 2026, include cash and cash equivalents of $7.2 million, net accounts receivable of $2.4 million, and inventory of $1.6 million. In the second fiscal quarter of 2025, GCT filed a universal shelf registration statement on Form S-3 that allows the Company to raise up to $200.0 million through the issuance of securities, including the $75.0 million for the ATM Offering.

5G Outlook

The Company continues to expect sequential quarterly growth in 5G shipments throughout 2026.

Conference Call

The Company will hold a conference call and live webcast at 4:30 p.m. ET or 1:30 p.m. PST, which will be open to the public. During the conference call, the Company will discuss business updates and review the financial results, followed by a Q&A period.

Date: Tuesday, May 12, 2026

Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)

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