GCT (GCTS) Q1 2026 Earnings Transcript

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DATE

Wednesday, March 25, 2026 astatine 4:30 p.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — John Schlaefer

• Chief Financial Officer — Fong (Edmond) Cheng

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Full Conference Call Transcript

John Schlaefer: Thank you, and thanks, everyone, for joining america contiguous for our archetypal 4th 2026 net call. I'll commencement by discussing the operational advancement we've made during the archetypal 4th arsenic we thrust commercialized enlargement of our 5G products. Following my remarks, our CFO, Edmond Cheng, volition locomotion done the fiscal results for the archetypal 4th successful much detail. Building connected the groundwork we laid astatine the extremity of 2025, our archetypal 4th results bespeak the advancements we've made connected our 5G acceleration, which is reflected by increasing 5G chipset shipments, expanding engagement and continued aboriginal adoption crossed starring customers. In the archetypal quarter, we delivered 3,000 5G chipsets, a sequential summation of 58% versus Q4.

This maturation is an important indicator that customers are continuing to determination done the last stages of investigating and into archetypal deployments. While 5G merchandise shipment measurement contiguous remains humble comparative to the semipermanent accidental ahead, we are successful an aboriginal but captious measurement of the merchandise cycle. Customer assurance successful the performance, reliability and integration of our 5G chipset is building, and we expect 5G chipset shipments to proceed trending upward arsenic customers beforehand their programs. We are besides broadening the scope and extent of our lawsuit relationships and chipset usage cases.

We proceed to enactment a increasing fig of programs crossed aggregate verticals, FWA, IoT, and NTN, and we are moving intimately with our pb customers arsenic they determination done integration, certification and deployment planning. These engagements often propulsion beyond accepted licensing into deeper platform-level collaboration wherever our exertion serves arsenic the instauration for next-generation systems and idiosyncratic instrumentality development. Early plan wins and level integrations stay captious successful establishing the model for aboriginal measurement shipments and semipermanent adoption. Notably, we expanded our antecedently announced engagement with 1 of the world's largest outer connection providers to fast-track planetary 5G deployment done a notation level agreement.

Under this framework, we volition supply a notation plan based connected our 4G and 5G chipsets to assistance accelerate the improvement of our partners' next-generation idiosyncratic equipment, enabling precocious bandwidth and high-speed communications crossed outer and terrestrial networks. This statement reinforces GCT's relation successful enabling seamless connectivity crossed some terrestrial and nonterrestrial networks and broadens the deployment scope of our technology. It besides highlights the increasing value of GCT's exertion successful enabling converged connectivity solutions that span aggregate web environments. We presumption this arsenic a multiphase accidental that tin thrust incremental adoption of our solution implicit clip arsenic next-generation idiosyncratic instrumentality platforms are introduced.