Financial Data and Key Metrics Changes - In Q2 2024, revenue rose 41% year-over-year to $4.1 million but decreased 31% compared to Q1 2024, primarily due to contract timing and lower Connectivity revenue [19] - Non-GAAP gross margin for Q2 was 53.1%, up from 44.2% in Q2 2023 but down from 70.3% in Q1 2024 [19] - Non-GAAP net loss was $0.7 million, or $0.05 per share, compared to a loss of $1.7 million, or $0.12 per share, in Q2 2023 [20] Business Line Data and Key Metrics Changes - New product revenue in Q2 was $3.1 million, up 37% year-over-year but down 37% from Q1 2024 [19] - Mature product revenue was $1.1 million, up 56% year-over-year and flat compared to Q1 2024 [19] Market Data and Key Metrics Changes - The company anticipates Q3 2024 revenue of approximately $4.2 million, with $3.5 million from new products and $0.7 million from mature products [22] - The total cash at the end of Q2 was $23.3 million, down from $27.4 million at the end of Q1 2024 [21] Company Strategy and Development Direction - The company aims to leverage its eFPGA Hard IP business across new customers and market sectors, with a focus on expanding its fabrication nodes [8] - The partnership with CTG is expected to enhance demand fulfillment and creation, particularly within the Defense Industrial Base [15][40] - The company is targeting to be the first eFPGA provider to offer Hard eFPGA IP on Intel's 18A node, with significant interest from customers [28] Management's Comments on Operating Environment and Future Outlook - Management has lowered the full-year growth projection to 15% due to scheduling push-outs, but expects a sharp rebound in Q4 2024 [5][22] - The company is optimistic about future revenue growth from its IP contracts and anticipates cash flow positivity for fiscal 2024 [23] Other Important Information - The company has received a $5.26 million tranche for a Strategic Radiation Hardened FPGA government contract, with a total potential value of $72 million [7] - The company is on track to report record revenue for SensiML in 2024, driven by its open-source strategy [17] Q&A Session Summary Question: Revenue push-outs and their impact - Management confirmed that approximately $3 million of revenue is being pushed into next year due to customer-related delays [28] Question: Status on Intel 18A node - Management believes they will be the first eFPGA company to offer Hard eFPGA IP on the Intel 18A node [28] Question: Storefront revenue and sales funnel - More than half of the $189 million sales funnel is related to storefront deals, with actual storefront revenue expected to be significantly higher [29] Question: Strategic Rad Hard deal and future revenues - The $72 million contract is for development, with potential storefront revenue expected to be in the hundreds of millions once the device is completed [31] Question: Consistency of push-outs - Push-outs are primarily due to funding issues and project schedule shifts, mainly in aerospace and defense sectors [35] Question: Impact of CTG partnership - The CTG partnership is expected to accelerate qualified opportunities in the sales funnel, enhancing both demand fulfillment and creation [40]

QuickLogic (QUIK) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of $0.01. This compares to loss of $0.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -600%. A quarter ago, it was expected that this maker of chips for mobile and portable electronics manufacturers would post earnings of $0.06 per share when it actually produced earnings of $0.11, delivering a surprise of 83.33%. Over t ...

Exhibit 99.1 QuickLogic Reports 41% Year-over-Year Revenue Growth for Second Quarter Fiscal 2024 SAN JOSE, Calif. – August 13, 2024 - QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a developer of embedded FPGA (eFPGA) IP, ruggedized FPGAs and Endpoint AI solutions, today announced its financial results for the fiscal second quarter that ended June 30, 2024. Recent Highlights • Awarded $5.26 million third tranche of the Strategic Radiation Hardened FPGA Technology US Government Contra ...

SAN JOSE, Calif., Aug. 13, 2024 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a developer of embedded FPGA (eFPGA) IP, ruggedized FPGAs and Endpoint AI solutions, today announced its financial results for the fiscal second quarter that ended June 30, 2024. Recent Highlights Awarded $5.26 million third tranche of the Strategic Radiation Hardened FPGA Technology US Government Contract Joined Intel Foundry Accelerator IP and USMAG Alliance Programs to deliver customer-d ...

QuickLogic Corporation (QUIK) is slated to release second-quarter 2024 results on Aug 13. For the second quarter, the Zacks Consensus Estimate for revenues is currently pegged at $4.5 million, which suggests growth of 54.1% year over year. The consensus mark for earnings stands at a penny per share, which remained unchanged in the past 60 days. This implies a strong improvement from the year-ago quarter's loss of 12 cents per share. QUIK's earnings beat the Zacks Consensus Estimate in two of the trailing fo ...

Embedded FPGAs (eFPGAs) Deliver Custom Solutions, Cost Savings, and Efficiency for Aerospace and Defense SAN JOSE, Calif., Aug. 7, 2024 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK), a leader in embedded FPGA (eFPGA) Hard IP, ruggedized FPGAs and endpoint AI solutions, today announced a new strategic partnership with CTG, a division of Blue Raven Solutions. CTG has been appointed the sole source distributor for QuickLogic's eFPGA Hard IP in the Aerospace & Defense sector. QuickLogic eFPGA IP technol ...

In the latest trading session, QuickLogic (QUIK) closed at $8.91, marking a -1.66% move from the previous day. This change lagged the S&P 500's daily gain of 1.04%. At the same time, the Dow added 0.76%, and the tech-heavy Nasdaq gained 1.03%. Heading into today, shares of the maker of chips for mobile and portable electronics manufacturers had lost 15.88% over the past month, lagging the Computer and Technology sector's loss of 13.91% and the S&P 500's loss of 6.74% in that time. Investors will be eagerly ...

Announces Participation in Upcoming Investor Conferences SAN JOSE, Calif., Aug. 5, 2024 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK), a developer of embedded FPGA (eFPGA) IP, ruggedized FPGAs and Endpoint AI solutions, today announced it has scheduled a conference call to discuss its second quarter fiscal 2024 financial results on Tuesday, August 13, 2024. Date: Tuesday, August 13, 2024 Time: 5:30 p.m. ET/2:30 p.m. PT Dial-in: Toll Free: 1-877-300-8521; International: 1-412-317-6026 Passcode: No pa ...

SAN JOSE, Calif., July 31, 2024 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK), a developer of embedded FPGA (eFPGA) Hard IP, ruggedized FPGAs, and endpoint AI solutions, is pleased to announce a distribution agreement with Astute Electronics. This partnership will enhance QuickLogic's global reach by supporting customers across Europe, as well as in Australia, Israel, Turkey, and New Zealand. This strategic alliance is set to drive growth and innovation, providing customers in Europe, Australia, Isr ...

QuickLogic (QUIK) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Revisions to Earnings Estimates For the next fiscal year, the consensus earnings estimate of $0.61 indicates a change of +22% from what QuickLogic is expected to report a year ago. Over the past month, the estimate has remained unchanged. Even though a company's earnings growth is arguably the best ...