Core Insights - QuickLogic Corporation has launched Aurora PRO, an advanced FPGA design tool that integrates Synopsys Synplify® for enhanced eFPGA designs [1][3][6] Group 1: Product Features - Aurora PRO offers significant performance improvements, achieving up to 50% better resource utilization and over 96% LUT utilization in customer designs [3] - The integration with Synopsys Synplify® results in average frequency increases of up to 10%, enhancing overall system performance [3][4] - The tool is optimized for QuickLogic's eFPGA architecture, specifically targeting embedded carry chains, BRAM, and DSP blocks to reduce critical path delays [4] Group 2: User Experience - Aurora PRO features a redesigned user interface that integrates Synopsys Synplify® synthesis within the Aurora GUI, facilitating easier management of area vs. timing trade-offs [5] - The intuitive environment accelerates experimentation and enables faster iterations for optimal design parameters [5] Group 3: Strategic Importance - The introduction of Aurora PRO is a significant milestone for QuickLogic's eFPGA design capabilities, aimed at accelerating design workflows and enhancing area and timing optimizations [6] - This advancement is expected to empower engineers to maximize performance and efficiency, ultimately reducing time-to-market for innovative products [6]

Company Performance - QuickLogic's stock was down 4.17% at $6.44, lagging behind the S&P 500's daily gain of 0.07% [1] - Prior to the recent trading session, QuickLogic shares had gained 8.91%, outperforming the Computer and Technology sector's gain of 8.22% and the S&P 500's gain of 5.71% [1] Upcoming Earnings - QuickLogic is expected to report an EPS of -$0.07, which is a 40% decline from the prior-year quarter [2] - The consensus estimate projects revenue of $4 million, reflecting a 3.15% decrease from the same quarter last year [2] Fiscal Year Estimates - For the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.02 per share and revenue of $22.75 million, indicating changes of -150% and +13.12% respectively from the previous year [3] - Recent changes to analyst estimates for QuickLogic may indicate shifting business trends, with positive alterations suggesting analyst optimism regarding the company's profitability [3] Zacks Rank and Industry Performance - QuickLogic currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate remaining stagnant over the past month [5] - The Electronics - Semiconductors industry, which includes QuickLogic, ranks in the top 26% of all industries, with a current Zacks Industry Rank of 62 [6]

Core Points - QuickLogic Corporation announced the unexpected death of Board Director Christine Russell on July 11, 2025 [1] - Christine Russell joined the QuickLogic Board in June 2005 and was recognized for her leadership and integrity [2] Company Overview - QuickLogic Corporation is a fabless semiconductor company specializing in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions [2] - The company's technology, combined with open-source development tools, enables customizable and low-power silicon solutions for various markets including aerospace and defense, industrial, consumer, and edge computing [2]

Company Overview - QuickLogic (QUIK) closed at $6.41, reflecting a -4.47% change from the previous day, underperforming the S&P 500's loss of 0.33% [1] - The stock has increased by 13.35% over the past month, outperforming the Computer and Technology sector's gain of 5.24% and the S&P 500's gain of 4.07% [1] Financial Performance - QuickLogic is expected to report an EPS of -$0.07, indicating a 40% decline compared to the same quarter last year [2] - Revenue is projected to be $4 million, showing a 3.15% decrease from the year-ago quarter [2] - For the entire year, the Zacks Consensus Estimates forecast earnings of -$0.02 per share and revenue of $22.75 million, reflecting changes of -150% and +13.12% respectively compared to the previous year [3] Analyst Estimates - Recent adjustments to analyst estimates for QuickLogic are important as they reflect the changing dynamics of short-term business patterns [4] - Upward revisions in estimates indicate analysts' positive outlook on the company's operations and profit generation capabilities [4] - The Zacks Rank system, which incorporates these estimate changes, currently ranks QuickLogic at 3 (Hold) [6] Industry Context - QuickLogic operates within the Electronics - Semiconductors industry, which is part of the Computer and Technology sector [7] - The industry has a Zacks Industry Rank of 87, placing it in the top 36% of over 250 industries [7] - Historically, the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Core Insights - QuickLogic Corporation is participating in the 2025 IEEE Nuclear and Space Radiation Effects Conference (NSREC) from July 14 to 18 in Nashville, Tennessee, showcasing its radiation-tolerant, reprogrammable logic solutions [1] - The company offers the Australis™ eFPGA IP Generator, which automates the creation of custom eFPGA IP cores tailored to specific power, performance, and area (PPA) requirements for aerospace, satellite, and defense applications [2] - With over three decades of experience in the Aerospace and Defense sectors, QuickLogic provides customized, long-life solutions that meet stringent Size, Weight, and Power (SWaP) constraints while addressing security, reliability, and environmental durability challenges [3] Company Overview - QuickLogic Corporation is a fabless semiconductor company specializing in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions [3] - The company's technology, combined with open-source development tools, enables highly customizable and low-power silicon solutions for various markets, including aerospace and defense, industrial, consumer, and edge computing [3]

Company Overview - QuickLogic (QUIK) shares increased by 5.9% to $6.32 in the last trading session, with a notable trading volume, and have gained 15.7% over the past four weeks [1] - QuickLogic is positioned as the first available source for eFPGA Hard IP for Intel 18A technology, which is driving growth in both defense and commercial markets [1] Financial Performance - QuickLogic is expected to report a quarterly loss of $0.07 per share, reflecting a year-over-year decline of 40%, with revenues projected at $4 million, down 3.2% from the previous year [2] - The consensus EPS estimate for QuickLogic has remained unchanged over the last 30 days, indicating stability in earnings expectations [4] Industry Context - QuickLogic is part of the Zacks Electronics - Semiconductors industry, where GCT Semiconductor Holding, Inc. (GCTS) experienced a 4.1% decline to $1.42, despite a 39.6% return over the past month [4] - GCT Semiconductor Holding's consensus EPS estimate has also remained unchanged at -$0.14, representing a significant year-over-year change of -600% [5]

Company Overview - QuickLogic's stock closed at $6.00, reflecting a +1.69% change from the previous day's closing price, outperforming the S&P 500 which lost 0.03% [1] - Over the last month, QuickLogic's shares increased by 6.5%, surpassing the Computer and Technology sector's gain of 3.02% and the S&P 500's gain of 0.6% [1] Upcoming Earnings - The upcoming earnings release is projected to show an EPS of -$0.07, indicating a 40.00% decline compared to the same quarter last year [2] - Revenue is estimated at $4 million, down 3.15% from the prior-year quarter [2] Fiscal Year Estimates - For the entire fiscal year, earnings are expected to be -$0.02 per share, reflecting a -150% change from the previous year, while revenue is projected at $22.75 million, indicating a +13.12% increase [3] - Recent changes in analyst estimates are crucial as they reflect short-term business trends, with positive revisions indicating analyst optimism [3] Zacks Rank and Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has shown that 1 ranked stocks have yielded an average annual return of +25% since 1988 [5] - QuickLogic currently holds a Zacks Rank of 3 (Hold), with a 50% decrease in the Zacks Consensus EPS estimate over the last 30 days [5] Industry Context - The Electronics - Semiconductors industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 76, placing it in the top 31% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]

Core Insights - QuickLogic Corporation will exhibit at the 2025 Chips to Systems Conference (DAC) in San Francisco, showcasing its advanced eFPGA Hard IP and chiplet solutions [1][2]. Company Overview - QuickLogic is a fabless semiconductor company specializing in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions, targeting markets such as aerospace, defense, industrial, consumer, and edge computing [4]. Event Details - The DAC 2025 event will take place from June 23–25, 2025, at Booth 2222, Moscone West, 2nd Floor [3]. - Attendees can explore how QuickLogic's solutions can enhance design goals with flexibility and efficiency [3]. Product Offerings - QuickLogic's eFPGA Hard IP enables post-manufacturing flexibility, helping designers reduce time-to-market and costs while achieving performance, power, and area (PPA) goals [2]. - The company's chiplet solutions feature validated, interoperable blocks supported by Universal PHY™, facilitating faster and more efficient heterogeneous integration [2].

Core Insights - QuickLogic Corporation has joined the Intel Foundry Chiplet Alliance, enhancing its strategy to deliver secure, interoperable eFPGA-based chiplets for defense and commercial markets [1][3] Group 1: Collaboration and Membership - Membership in the Intel Foundry Chiplet Alliance allows QuickLogic to access Intel Foundry's advanced process and packaging roadmaps, which will expedite the market introduction of its customizable eFPGA chiplets [1][3] - The Chiplet Alliance aims to create a secure, standards-based ecosystem that supports both U.S. Military, Aerospace & Government (USMAG) and high-volume commercial customers [1][2] Group 2: Technical Advantages - QuickLogic's participation in the Chiplet Alliance extends its collaboration to the package level, enabling seamless interoperability of its reconfigurable logic blocks with other members' dies in a multi-chip package [2] - The alliance provides early visibility and technical access to Intel Foundry's advanced processes, packaging technologies, and training, which will help reduce prototype cycles and costs [4] Group 3: Strategic Importance - The CEO of QuickLogic emphasized that joining the Chiplet Alliance is a logical step that will benefit customers needing secure and flexible solutions for aerospace, defense, and commercial applications [3]

Part I [Unaudited Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Unaudited Q1 2025 financials reveal decreased assets, a $2.2 million net loss, negative operating cash flow, and SensiML as discontinued operations [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $49.1 million by March 30, 2025, primarily due to reduced cash, while liabilities also fell and equity rose Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | March 30, 2025 | December 29, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash, cash equivalents and restricted cash | $17,546 | $21,859 | | Accounts receivable, net | $1,586 | $2,426 | | Total current assets | $25,337 | $29,604 | | TOTAL ASSETS | $49,077 | $51,933 | | **Liabilities & Equity** | | | | Revolving line of credit | $15,000 | $18,000 | | Total current liabilities | $21,482 | $25,397 | | Total liabilities | $22,760 | $27,046 | | Total stockholders' equity | $26,317 | $24,887 | | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $49,077 | $51,933 | [Unaudited Condensed Consolidated Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 saw a 24% revenue decline to $4.3 million, leading to a $2.1 million net loss from continuing operations and a diluted loss per share of $0.14 Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended Mar 30, 2025 | Three Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | Revenue | $4,325 | $5,669 | | Gross Profit | $1,877 | $3,804 | | Operating Income (Loss) | $(1,981) | $132 | | Net Income (Loss) from Continuing Operations | $(2,090) | $73 | | Net Income (Loss) | $(2,191) | $108 | | Diluted EPS (Continuing Operations) | $(0.14) | $0.01 | [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 experienced a $4.3 million net decrease in cash, driven by $2.1 million used in operations and $1.5 million in investing activities Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Three Months Ended Mar 30, 2025 | Three Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(2,126) | $147 | | Net cash provided by (used in) investing activities | $(1,492) | $(651) | | Net cash provided by (used in) financing activities | $(708) | $3,297 | | Net increase (decrease) in cash | $(4,326) | $2,793 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail SensiML's discontinuation, liquidity sources including $17.5 million cash and $2.7 million from equity, and high revenue concentration from a single customer - The company has discontinued operations at its wholly-owned subsidiary, SensiML Corporation, and is actively exploring its sale to focus resources on its core eFPGA Hard IP and ruggedized FPGA business[19](index=19&type=chunk)[50](index=50&type=chunk) - In Q1 2025, the company raised approximately **$2.7 million** in net proceeds through a registered direct offering (**$1.5 million**) and an At Market Issuance (ATM) offering (**$1.2 million**)[24](index=24&type=chunk)[25](index=25&type=chunk)[78](index=78&type=chunk) - As of March 30, 2025, the company had **$15.0 million** outstanding on its revolving line of credit with Heritage Bank at an interest rate of **8.00%**. The loan maturity was extended to December 31, 2026[23](index=23&type=chunk)[71](index=71&type=chunk) Revenue from Continuing Operations by Product Family (in thousands) | Product Family | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | New products | $3,747 | $4,538 | | Mature products | $578 | $1,131 | | **Total revenue** | **$4,325** | **$5,669** | - Revenue concentration remains high, with 'Customer A' accounting for **78%** of revenue from continuing operations in Q1 2025, up from **66%** in Q1 2024[101](index=101&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 24% revenue decline, 51% gross profit drop, increased operating expenses, and the strategic focus on core eFPGA business after SensiML's discontinuation [Overview](index=31&type=section&id=Overview) QuickLogic, a fabless semiconductor company, is refocusing on its core eFPGA and ruggedized FPGA business after discontinuing SensiML operations - The company is focusing on its core business of eFPGA IP, SoCs, and discrete FPGAs after discontinuing operations at its SensiML subsidiary[109](index=109&type=chunk)[110](index=110&type=chunk) - Business growth is expected to be driven mainly by eFPGA IP and silicon solutions[117](index=117&type=chunk) - Total revenue from continuing operations in Q1 2025 was **$4.3 million**, a **24%** decrease YoY. New product revenue was **$3.7 million**, a **17%** decrease YoY[127](index=127&type=chunk) [Results of Operations - Continuing Operations](index=35&type=section&id=Results%20of%20Operations%20-%20Continuing%20Operations) Continuing operations revenue declined 24% to $4.3 million in Q1 2025, with gross profit falling 51% to $1.9 million and operating expenses increasing 5% Revenue Comparison (Continuing Operations, in thousands) | Product Category | Q1 2025 | Q1 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | New products | $3,747 | $4,538 | $(791) | (17)% | | Mature products | $578 | $1,131 | $(553) | (49)% | | **Total revenue** | **$4,325** | **$5,669** | **$(1,344)** | **(24)%** | Gross Profit Comparison (Continuing Operations, in thousands) | Metric | Q1 2025 | Q1 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Gross Profit | $1,877 | $3,804 | $(1,927) | (51)% | | Gross Margin | 43% | 67% | - | - | - The decrease in gross profit was caused by a **24%** revenue decline and a **31%** increase in cost of revenue, primarily from higher depreciation, amortization, and labor costs[137](index=137&type=chunk) - Total operating expenses increased by **5%** YoY, driven by an **$0.2 million** increase in SG&A from higher compensation and consulting services[139](index=139&type=chunk)[141](index=141&type=chunk) [Results of Operations - Discontinued Operations](index=38&type=section&id=Results%20of%20Operations%20-%20Discontinued%20Operations) Discontinued SensiML operations generated minimal revenue of $11 thousand in Q1 2025, a 97% decrease, with $109 thousand in operating expenses including restructuring costs Financials for Discontinued Operations (in thousands) | Metric | Q1 2025 | Q1 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | $11 | $338 | $(327) | (97)% | | Gross Profit | $8 | $179 | $(171) | (96)% | | Total Operating Expenses | $109 | $138 | $(29) | (21)% | - Operating expenses for discontinued operations in Q1 2025 included **$87 thousand** in restructuring costs and **$13 thousand** in SG&A[148](index=148&type=chunk)[151](index=151&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity as of March 30, 2025, includes $17.5 million cash, a $15.0 million drawn credit facility, and $2.7 million from stock sales, deemed sufficient for the next twelve months - Principal sources of liquidity as of March 30, 2025, include **$17.5 million** in cash, a **$15.0 million** drawn-down from its revolving credit facility, and **$2.7 million** in net proceeds from recent stock sales[156](index=156&type=chunk) - The company's revolving credit facility with Heritage Bank was amended to extend the maturity date to December 31, 2026[161](index=161&type=chunk) Consolidated Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash from operating activities | $(2,126) | $147 | | Net cash from investing activities | $(1,492) | $(651) | | Net cash from financing activities | $(708) | $3,297 | - Management believes existing cash, revenues, and available financing will be sufficient to fund operations and capital expenditures for the next twelve months[162](index=162&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable for the current reporting period - Not Applicable[177](index=177&type=chunk) [Controls and Procedures](index=44&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 30, 2025, with no material changes to internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective as of March 30, 2025[178](index=178&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, internal controls[181](index=181&type=chunk) Part II [Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) No legal proceedings were reported for the period - None[184](index=184&type=chunk) [Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported from the 2024 Annual Report on Form 10-K - No material changes to the risk factors set forth in the 2024 Annual Report on Form 10-K[185](index=185&type=chunk) [Other Information](index=46&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q1 2025 - During the first quarter of 2025, none of the company's directors or officers adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements[187](index=187&type=chunk) [Exhibits](index=46&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with or incorporated by reference into the Form 10-Q, including agreements and certifications