For more information on QuickLogic's eFPGA IP licensing and other solutions, please visit www.quicklogic.com. About QuickLogic QuickLogic Corporation is a fabless semiconductor company specializing in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions. QuickLogic's unique approach combines cutting-edge technology with open-source tools to deliver highly customizable, low-power solutions for industrial, aerospace, consumer, and computing markets. For more information, visit www.quicklogic.com. Access ...

QuickLogic (QUIK) closed the most recent trading day at $6.06, moving +2.54% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a gain of 0.18%, and the technology-centric Nasdaq increased by 0.31%. The maker of chips for mobile and portable electronics manufacturers's shares have seen an increase of 15.2% over the last month, surpassing the Computer and Technology sector's gain of 7.63% and the S&P 500's gain of 3.15%.Market partic ...

Company Performance - QuickLogic's stock closed at $5.53, down 5.47% from the previous trading session, underperforming the S&P 500's daily loss of 0.1% [1] - Over the past month, QuickLogic shares gained 4.09%, lagging behind the Computer and Technology sector's gain of 5.94% but outperforming the S&P 500's gain of 2.57% [1] Earnings Expectations - QuickLogic is expected to report an EPS of -$0.21, representing a 250% decline from the prior-year quarter [2] - Revenue is anticipated to be $2.1 million, reflecting a 50.82% drop compared to the same quarter last year [2] Annual Estimates - For the annual period, the Zacks Consensus Estimates predict an EPS of -$0.38 and revenue of $15.7 million, indicating shifts of -1050% and -21.94% respectively from the previous year [3] - Changes in analyst estimates for QuickLogic are crucial as they indicate the evolving nature of near-term business trends [3] Zacks Rank and Industry Performance - QuickLogic currently holds a Zacks Rank of 4 (Sell), with the Zacks Consensus EPS estimate remaining steady over the past month [5] - The Electronics - Semiconductors industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 193, placing it in the bottom 22% of over 250 industries [6]

Core Insights - QuickLogic Corporation is participating in the 17th Annual CEO Investor Summit 2025 on October 7th in Phoenix, Arizona [1] - The event coincides with SEMICON West, a leading event for semiconductor professionals [1] - QuickLogic is recognized for its expertise in embedded FPGA Hard IP, ruggedized FPGAs, and endpoint AI solutions [1]

Core Viewpoint - The article discusses the reliability of Wall Street analysts' recommendations, particularly focusing on QuickLogic (QUIK), and highlights the potential misalignment of brokerage firms' interests with retail investors' needs [1][5][10]. Group 1: Brokerage Recommendations - QuickLogic has an average brokerage recommendation (ABR) of 1.67, indicating a position between Strong Buy and Buy, with 66.7% of recommendations being Strong Buy from three brokerage firms [2][5]. - Despite the positive ABR, relying solely on this information for investment decisions may not be advisable, as studies show brokerage recommendations often fail to guide investors effectively [5][10]. - Brokerage analysts tend to exhibit a strong positive bias in their ratings, with a ratio of five "Strong Buy" recommendations for every "Strong Sell" [6][10]. Group 2: Zacks Rank vs. ABR - The Zacks Rank, a proprietary stock rating tool, categorizes stocks from Strong Buy to Strong Sell and is based on earnings estimate revisions, which correlate strongly with near-term stock price movements [8][11]. - Unlike the ABR, which is based solely on brokerage recommendations, the Zacks Rank is a quantitative model that provides timely insights into future price movements due to its reliance on updated earnings estimates [9][12]. - The Zacks Rank for QuickLogic is currently 4 (Sell), reflecting a significant decline in the Zacks Consensus Estimate for the current year, which has dropped by 129.6% to -$0.38 [13][14]. Group 3: Investment Implications - The decline in earnings estimates and the Zacks Rank suggest that QuickLogic may face downward pressure on its stock price, indicating that the positive ABR should be approached with caution [14].

Core Insights - QuickLogic Corporation is participating as a Silver Sponsor at the GlobalFoundries Technology Summit, showcasing its Australis eFPGA IP Generator for customizable solutions across various markets [1] - The eFPGA IP is now available on GlobalFoundries' 22FDX and 12LP platforms, making it suitable for a wide range of applications [2] - QuickLogic specializes in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions, focusing on low-power and customizable technologies for multiple sectors [3] Company Overview - QuickLogic Corporation is a fabless semiconductor company that combines advanced technology with open-source tools [3] - The company targets markets including aerospace and defense, industrial, consumer, and computing [3]

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on QuickLogic (QUIK), and emphasizes the importance of using these recommendations in conjunction with other analytical tools like the Zacks Rank for making informed investment decisions [1][5][10]. Brokerage Recommendations - QuickLogic has an average brokerage recommendation (ABR) of 1.67, indicating a consensus between Strong Buy and Buy, with 66.7% of the recommendations being Strong Buy from three brokerage firms [2][5]. - Despite the positive ABR, the article cautions against making investment decisions solely based on this metric due to the historical ineffectiveness of brokerage recommendations in predicting stock price increases [5][10]. Analyst Bias - Brokerage analysts tend to exhibit a strong positive bias in their ratings, with a ratio of five "Strong Buy" recommendations for every "Strong Sell" recommendation, which may mislead retail investors [6][10]. - The interests of brokerage firms may not align with those of retail investors, suggesting that brokerage recommendations should be used to validate independent analyses rather than as standalone indicators [7][10]. Zacks Rank Comparison - The Zacks Rank, a proprietary stock rating tool, categorizes stocks based on earnings estimate revisions and is considered a more effective indicator of near-term stock performance compared to the ABR [8][11]. - The Zacks Rank is updated more frequently and reflects real-time changes in earnings estimates, making it a timely tool for predicting future stock prices [12]. QuickLogic's Current Position - The Zacks Consensus Estimate for QuickLogic remains unchanged at -$0.02, indicating stable analyst views on the company's earnings prospects [13]. - Due to the unchanged consensus estimate and other factors, QuickLogic holds a Zacks Rank of 3 (Hold), suggesting caution despite the favorable ABR [14].

[Part I - Financial Information](index=4&type=section&id=Part%20I%20-%20Financial%20Information) This section provides QuickLogic's unaudited condensed consolidated financial statements and management's discussion and analysis for the period ended June 29, 2025 [Item 1. Unaudited Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section presents QuickLogic's unaudited financial statements, including balance sheets, operations, and cash flows, with SensiML classified as a discontinued operation [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $50.2 million, liabilities reduced to $22.6 million, and stockholders' equity increased to $27.7 million as of June 29, 2025 Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 29, 2025 | December 29, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $27,389 | $29,604 | | Cash, cash equivalents and restricted cash | $19,191 | $21,859 | | **Total Assets** | **$50,214** | **$51,933** | | **Total Current Liabilities** | $21,525 | $25,397 | | Revolving line of credit | $15,000 | $18,000 | | **Total Liabilities** | **$22,557** | **$27,046** | | **Total Stockholders' Equity** | **$27,657** | **$24,887** | [Unaudited Condensed Consolidated Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Revenue declined to $3.7 million in Q2 2025, gross profit decreased significantly, and the net loss from continuing operations widened to $2.7 million Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended June 29, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 29, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $3,687 | $4,096 | $8,012 | $9,765 | | Gross Profit | $954 | $2,242 | $2,831 | $6,046 | | Operating Loss | $(2,522) | $(1,200) | $(4,503) | $(1,068) | | Net Loss from Continuing Operations | $(2,661) | $(1,229) | $(4,751) | $(1,156) | | Net Loss | $(2,670) | $(1,550) | $(4,861) | $(1,442) | | Diluted EPS (Continuing Operations) | $(0.17) | $(0.09) | $(0.30) | $(0.08) | [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to $1.5 million, with a $2.7 million overall decrease in cash and equivalents for the six months ended June 29, 2025 Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 29, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(1,498) | $(73) | | Net cash used in investing activities | $(3,001) | $(4,473) | | Net cash provided by financing activities | $1,817 | $3,206 | | **Net decrease in cash** | **$(2,682)** | **$(1,340)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the company's fabless semiconductor business, SensiML discontinuation, liquidity, revenue concentration, debt, and equity financing - In **Q1 2025**, the company **discontinued operations** at its **SensiML subsidiary** to focus resources on its core **eFPGA IP** and **ruggedized FPGA business**, with SensiML now accounted for as **held for sale**[20](index=20&type=chunk)[48](index=48&type=chunk) - The company's primary liquidity sources as of June 29, 2025, include **$19.2 million in cash**, a **$15.0 million advance** from its **revolving credit facility**, and **$5.6 million in net proceeds** from recent **stock sales**[23](index=23&type=chunk) - In **Q2 2025**, the company recorded a **full impairment charge of $0.3 million** on a **non-marketable equity investment**[44](index=44&type=chunk) - For the **six months ended June 29, 2025**, **one customer**, "Customer A", accounted for **64% of revenue** from **continuing operations**[100](index=100&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, strategic shift to core eFPGA IP, revenue decline, gross profit impact, and liquidity for the next twelve months [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Q2 2025 revenue decreased by 10% to $3.7 million, gross profit fell 57%, and operating loss widened to $2.5 million due to lower sales and higher costs Q2 Revenue from Continuing Operations (in thousands) | Product Category | Q2 2025 | Q2 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | New products | $2,918 | $3,026 | $(108) | (4)% | | Mature products | $769 | $1,070 | $(301) | (28)% | | **Total revenue** | **$3,687** | **$4,096** | **$(409)** | **(10)%** | Q2 Gross Profit from Continuing Operations (in thousands) | Metric | Q2 2025 | Q2 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | $3,687 | $4,096 | $(409) | (10)% | | Cost of revenue | $2,733 | $1,854 | $879 | 47% | | **Gross profit** | **$954** | **$2,242** | **$(1,288)** | **(57)%** | - The **decrease in R&D expenses by $0.2 million** in **Q2 2025** compared to Q2 2024 was primarily due to **increased labor allocations** to **Cost of Revenue** for fulfilling revenue contracts[140](index=140&type=chunk) - A **$0.3 million impairment charge** was recorded in **Q2 2025** related to the company's **non-marketable equity investment**[142](index=142&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is supported by $19.2 million cash, a $15.0 million credit facility, and $5.6 million from recent equity offerings, deemed sufficient for the next twelve months - The company secured **net proceeds of approximately $1.5 million** from a **registered direct offering** in **March 2025** and **$4.1 million** from an **ATM offering** as of **June 29, 2025**[167](index=167&type=chunk)[168](index=168&type=chunk) - The revolving line of credit's **maturity date extended to December 31, 2026**, with **$15.0 million outstanding** at an **interest rate of 8.00%** as of June 29, 2025[170](index=170&type=chunk) Summary of Cash Flows (in thousands) | Cash Flow Activity | Six Months Ended June 29, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(1,498) | $(73) | | Net cash used in investing activities | $(3,001) | $(4,473) | | Net cash provided by financing activities | $1,817 | $3,206 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This item is not applicable for the current reporting period - The company has determined that quantitative and qualitative disclosures about market risk are **not applicable** for this reporting period[187](index=187&type=chunk) [Item 4. Controls and Procedures](index=44&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures were effective** at a **reasonable assurance level** as of the end of the period[188](index=188&type=chunk)[189](index=189&type=chunk) - **No changes in internal control over financial reporting** occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[191](index=191&type=chunk) [Part II - Other Information](index=46&type=section&id=Part%20II%20-%20Other%20Information) This section covers legal proceedings, risk factors, and other information, including trading arrangements of directors and officers [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) No legal proceedings are reported for the current period - The company reported **no legal proceedings**[194](index=194&type=chunk) [Item 1A. Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors were reported - There have been **no material changes** to the **risk factors** disclosed in the company's 2024 Annual Report on Form 10-K[195](index=195&type=chunk) [Item 5. Other Information](index=46&type=section&id=Item%205.%20Other%20Information) No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted or terminated by directors or officers during Q2 2025 - **No directors or officers adopted or terminated** any **Rule 10b5-1 or non-Rule 10b5-1 trading arrangements** during the **second quarter of 2025**[197](index=197&type=chunk)

Core Insights - QuickLogic Corporation has appointed Ron Shelton to its Board of Directors, effective August 7, 2025, where he will also serve as Chair of the Audit Committee [1][3] Group 1: Company Overview - QuickLogic Corporation is a fabless semiconductor company specializing in embedded FPGA (eFPGA) Hard IP, discrete FPGAs, and endpoint AI solutions [4] - The company focuses on delivering highly customizable, low-power solutions for various markets, including aerospace, defense, industrial, consumer, and computing [4] Group 2: Leadership Appointment - Ron Shelton brings over 25 years of financial and operational leadership experience to QuickLogic, currently serving as CFO of Syntiant Corp [2] - Shelton has held CFO roles at notable companies such as Navitas Semiconductor, Adesto Technologies, GigOptix, and Cirrus Logic, showcasing a diverse background in both public and private sectors [2] - Shelton expressed enthusiasm for QuickLogic's momentum in eFPGA Hard IP solutions and aims to contribute to the company's growth and financial governance [3] Group 3: Strategic Focus - The addition of Shelton to the board is expected to provide valuable insights as QuickLogic expands its eFPGA IP licensing and FPGA Storefront business [3] - The company aims to deepen its engagement with high-reliability markets, including aerospace and defense, under Shelton's financial oversight [3]

Group 1 - QuickLogic reported a quarterly loss of $0.09 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.07, and compared to a loss of $0.05 per share a year ago [1] - The company's revenues for the quarter ended June 2025 were $3.69 million, missing the Zacks Consensus Estimate by 7.83%, and down from $4.13 million year-over-year [3] - QuickLogic has surpassed consensus EPS estimates two times over the last four quarters, but this quarterly report represents an earnings surprise of -28.57% [2][3] Group 2 - The stock has underperformed significantly, losing about 48.9% since the beginning of the year, while the S&P 500 has gained 8.4% [4] - The current consensus EPS estimate for the coming quarter is $0.06 on revenues of $6.4 million, and for the current fiscal year, it is -$0.02 on revenues of $22.75 million [8] - The Zacks Industry Rank for Electronics - Semiconductors is currently in the bottom 31% of over 250 Zacks industries, indicating potential challenges for the sector [9]