GCT Reports Q1 Revenue of $1.9M, Exceeding Expectations

Reports Q1 revenue $1.9M, consensus $1.8M. The Company "continues to expect sequential quarterly growth in 5G shipments throughout 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."