Operator

Good afternoon. Thank you for attending GCT Semiconductor Holding, Inc.'s First Quarter 2026 Financial Results Call. [Operator Instructions]

Joining the call today are John Schlaefer, GCT's Chief Executive Officer; and Edmond Cheng, CFO, to discuss our first quarter 2026 results. During this call, certain statements we make will be forward-looking.

These statements are subject to risks and uncertainties, including those set forth in our safe harbor provision for forward-looking statements that can be found at the end of our earnings press release and also in our Form 10-Q that will be filed today, which provide further detail about the risks related to our business.

Additionally, except as required by law, we undertake no obligation to update any forward-looking statements. I will now turn the call over to John Schlaefer.

John Schlaefer
President, CEO & Director

Thank you, and thanks, everyone, for joining us today for our first quarter 2026 earnings call. I'll start by discussing the operational progress we've made during the first quarter as we drive commercial expansion of our 5G products. Following my remarks, our CFO, Edmond Cheng, will walk through the financial results for the first quarter in more detail.

Building on the groundwork we laid at the end of 2025, our first quarter results reflect the advancements we've made on our 5G acceleration, which is reflected by growing 5G chipset shipments, expanding engagement and continued early adoption across leading customers.

In the first quarter, we delivered 3,000 5G chipsets, a sequential increase of 58% versus Q4. This growth is an