u/EqualNo2867

For context I'm a freelance full stack dev, currently working solo on projects for small clients

Am I the only one recently experiencing that every client I have I am constantly arguing with ChatGPT/Other AI's?

My most recent client (not technical at all) send me a 12 page technical document, along with 3 other 12 page documents after I had started the project, these documents were directing me on database structure, schema expectations, workflow sequencing, and many other technical requirements, which she had no idea how to defend upon questioning on a call. She also requested an ERD which is fine, however after sending a extremely client friendly dumbed down version of the ERD, I recieved 6 questions all over a paragraph long which she (ChatGPT) wanted me to respond to in detail, along with another 30 pages total of documentation over 2 documents.

I have recieved over 70 pages of documentation in 2 days and I have called off the project after 3 weeks due to constantly explaining my thought process and arguing the technical direction to an AI which I'm assuming she hasnt provided all the context to, it also keeps trying to expand the scope after every new message.

Am I the only person experiencing this, this cannot turn into the new normal.

$GCTS I thought I would map out our currently known revenue streams so you guys are reminded of the potential we have.

Major satellite partner - Management guided "million units plus" annual shipment volumes once this partnership ramps. At a low ASP of $75, that is $75 million annual revenue alone.

MaxLinear - This one is hard to size. No volume, ASP or customer commitment has been disclosed on either side. If this converts it extends GCT's terrestrial broadband pillar.

Skylo / GSAT - Globalstar already uses the GDM7243i chip in the RM200M product. The part worth diving deeper into is Skylo's proposed ANT4 filing, which would authorise up to 250 million devices operating on a spectrum that is majority Globalstar owned (1610mhz-1617mhz exclusively and 2483mhz-2500mhz) which Skylo's existing ANT1-3 device categories already run on. GCT supplies two chips relevant here, GDM7243i, which covers 600-960MHz and 1.7 - 2.7ghz, enough to reach the S band portion but falling short on the L band linkup. The other chip being GDM7243SL, which spans 380mhz to 3800mhz which comfortably covers both bands in full. This chip is positioned as a low cost single chip solution, using managements guidance that 5g ASP is roughly 4x 4g chips, a reasonable ASP of these chips is $20-40 per unit. If we calculate ANT4's 250 million devices and GCT captures even 2% of this at $20, that's 5 million devices and $100 M revenue. The uncertainty lies not in the technical fit, it's that no design win has been disclosed for this specific chip on this specific opportunity, unlike GDM7243i's position in the RM200M. This should be treated as a contingent on both FCC approval of ANT4 and a GCT design win, not a probable near term revenue line.

Current Price & re-rate math - GCTS currently is trading around $2 to $2.35, of a market roughly $170 - 195M and an EV of roughly $195-$220M once you account for the $55.1M debt and $30 million cash on the balance sheet. Put against the analyst consensus revenue of $21.6M, that's about 9-10x forward EV/sales, not cheap and not expensive.

Price To Earnings (P/E) - 1,000,000 annual units would result in roughly $75m annual revenue, with a gross margin of 50% this leaves $37.5m. After assuming opex rises to support this we could be left with $12.5m, after taxes $10.5m. EPS = 10,500,000 (net income) / 90,000,000 (diluted shares) = $0.117 EPS. Growth semi plays entering mass commercialisation command 50 - 60x forward P/E resulting in $6.44 per share.

The jump from 2 to 6-7 represents a single contract execution, the path to 20 or even 30+ occurs when GCT transitions from a single supplier into the platform for multiple hybrid networks. Eg core satellite partner, skylo IOT, terrestrial broadband resulting in $200m ish revenue. $200m x 0.52 = $104m gross profit. If OPEX scaled even more to cover this eg $40m, we'd be left with an EBIT of $64,000,000, post taxes $50m. EPS = 50,000,000 / 90,000,000 = $0.555 EPS. A foward P/E of 40-50x applied to this yields $22.2 to $27.5 per share.

Please note I made a few assumptions here. In the calculations they are fully diluted (90m) shares. Currently, there are about 66m shares. If GCTS current cash runway allows them to survive without diluting this would positively impact the EPS pushing GCTS to $34+ per share. To make GCTS really take off, they need to diversify with at least one additional major platform.

There are a few things I will keep a strong eye on with this stock -

Skylo must officially approve GCT's GDM7243SL in their network. - https://www.skylo.tech/certified-devices

Amazon Leo deployment timelines - Amazon has already requested an extension. GCT's near-term upside depends on reference design adoption ahead of those constellation ramps.

Run rate - in H1 their revenue was $2.89m, with an operating cash outflow of $4m a month. They need to address this directly or they will continue utilising the ATM.

This is not financial advice, this is my own DD and I encourage you to do your own.

12764 shares @ 1.6 avg
There is also a great community on Stocktwits

$GCTS Here is what stood out to me this earnings:

- The Customer Delay: Confirmed the delay is on the customers side (which major provider had a delay🤫).

- Shipment volumes were still up 71%, the hardware is moving into integration.

- Satellites will be their largest business stream heading into 2027, plus expansion into gov contracts / industrial drones.

-Production Capacity: Foundry capacity is fully prepaid and locked through EOY (that april filing we found)

- Cash flow is a lot healthier this quarter, can easily cover any unexpected expenses without going out of business.

Overall this does not change my thesis at all, I will continue to hold / buy. If anything I am even more bullish now they have finally given us some solid guidance.

TDLR: had two great dates with a girl last week, for the third date she said she’d let me know as she had to discuss with a friend. Today I asked if shes had a chance to talk to her friend and that I’d still like to see her at about 12, now 6pm with no response. I’m not sure if I’m being ridiculous or not? I wouldn’t care normally but considering the context of the question it has struck a nerve

I completed Crib Goch 2 weeks ago and I absolutely loved the scrambling element of it. I'm not naive enough to think I can jump straight to a grade 2 or 3, I was wondering if the Tryfan North Ridge is a good stepping stone or are there other routes you'd recommend doing first?

Cheers

Hey everyone,

I’m currently working in a role where I use SQL and SQL only. I'd consider my SQL to be pretty good. However, I’m looking at the job market right now and almost every DE listing heavily requires some form of Python. The issue is, my Python skills are horrid, I've never really used it and when I try to do some Leetcode my brain feels like it's melting.

If you had to learn Python completely from scratch got DE, but you already had a strong foundation in SQL, how would you approach it?

Got a pack of these because they’re all my shop had in stock. Haven’t tried them. The smell alone makes me gag.

Pulled off a crazy overtake, went to watch it back in replay and every camera angle is basically glued to my bumper, and the engine sound is stuck in first gear revving the whole time. Complete and utter garbage, who tested this and thought "Yeah, we've done a seriously good job here"

How do flies actually view humans?

They’ll fly into my room through a MASSIVE open window, spend 20 minutes being a huge inconvenience, perfectly dodge every attack, then refuse to leave through the exact same window they came in from.

Do they see us as entertainment? A threat? Or are they genuinely too stupid to remember where they entered?

Basically had a stock at 1.3 average, ran up to 2+ and I got out to lock in profits as a week prior it did the same move and went back to 1.3. However, this move was caused via a bank revealing warrants.

The move of 1.3 to 2 occurred in two hours.

My plan is to buy back in if it dips but honestly unsure if it will.

Overall, I’m in this company for the long term but because of its volatility if I can get an extra 400 shares I wouldn’t complain.

So I’ve FINALLY got enough to finally get a fiesta st. I’m torn between the 8 and 8.5 but the grill on the 8.5 is growing on me.

Are there any other differences between the two other than the grill?