GCT Semiconductor Holding

GCTS

Semiconductors · Technology

Price

$2.10

-0.02 (-0.94%)

Market Cap

$120.1M

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+20.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 43.9M (2021) → 52.9M (2025)

GCT Semiconductor designs chips that help devices connect to cellular networks, including 4G LTE and 5G. Its main products are modem chipsets used in things like routers, industrial equipment, and connected devices. The company sells to equipment makers and network operators, mostly in markets where affordable wireless connectivity is being built out.

GCT makes money by selling its chips and licensing its technology to manufacturers. It operates primarily in Asia and North America, and with a market cap of around $200 million, it is a small player in a semiconductor industry dominated by much larger companies like Qualcomm and MediaTek. The company is currently losing money, with deeply negative margins, which means it is spending far more than it earns — the biggest risk is whether it can grow revenue fast enough to reach profitability before running out of financial runway.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+287.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+0.0% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$14M/ year

↓ Declining (-19% vs prior year)

488.7% of revenue

32.6x the sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

22.9%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~3 months

$7M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

GCT Semiconductor Holding grew revenue 287% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

49.3%

Healthy — 49.3% gross margin

Operating Margin

-319.4%

Losing money on operations — -319.4%

ROCE

N/A

—

Data not available

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Growth

Sales YoY

-32.5%

Shrinking sales (-32.5% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-757.8%

Burning cash (-757.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

—

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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