GCT Semiconductor Holding Inc. has reported its financial results for the first quarter ending March 31, 2025. The company's net revenues amounted to $0.5 million, marking an 84.8% decrease from $3.3 million in the same period the previous year. The gross margin was reported at 17.7%, representing a 42.1 percentage point decrease from the previous year's 59.8%. The company experienced a net loss of $7.0 million, a significant decline of 1020.5% from a net income of $0.8 million in the first quarter of 2024. This drastic change was primarily attributed to a one-time gain on extinguishment of liability amounting to $14.6 million in the previous year's first quarter. Total operating expenses (income) increased by 248.2%, reaching $7.8 million from $(5.3) million. Excluding the one-time gain, operating expenses would have decreased by $1.5 million, or 16.3%. In terms of business operations, GCT announced that the sampling of its 5G chipsets is expected to commence at the end of May 2025. This follows the completion of fabrication and wafer processing, and the delivery of finalized 5G chipsets to GCT's facility. The company anticipates an increase in volume shipments through the third and fourth fiscal quarters of 2025. Additionally, GCT has filed a shelf registration to enhance financial flexibility, providing up to $200 million in capacity, including a $75 million at-the-market $(ATM.UK)$ facility.