GCT Semiconductor Holding Inc., a leading provider of advanced 5G and 4G semiconductor solutions, reported a decrease in net revenues for the second quarter of 2025, amounting to $1.2 million, down 19.0% from $1.5 million in the same period of 2024. The company also experienced a significant decline in gross margin, which fell to 32.0% from 62.7% in the previous year. Despite the revenue decrease, total operating expenses remained stable at $8.0 million. GCT's liquidity as of June 30, 2025, included cash and cash equivalents of $1.3 million, net accounts receivable of $3.8 million, and inventory valued at $3.0 million. Following a recent registered direct offering, the company has access to an ATM offering program up to $75 million and approximately $114 million remaining from its $200 million shelf registration. Significant business updates include the delivery of initial 5G chipset samples to lead customers, with plans for mass production and volume shipments anticipated in the second half of fiscal 2025. The company expects to commence production of its finalized inaugural 5G chipsets during the third quarter of 2025, with volume shipments slated for the fourth quarter.