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]

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) 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]

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]

Core Insights - QuickLogic Corporation has delivered eFPGA Hard IP optimized for Intel 18A technology, marking a significant milestone as the first delivery for a sub-5nm process node, which is expected to set new standards for low power consumption, high performance, and optimal silicon area utilization [1] - The development of the eFPGA Hard IP for Intel 18A was achieved in just six months using QuickLogic's proprietary Australis™ IP Generator, allowing for faster delivery of customer-specific variants [2] - QuickLogic's eFPGA Hard IP is now available and can be tailored with varying resources of LUTs, Block RAM, and DSP Blocks to meet specific application requirements for both commercial and Defense Industrial Base designs [3] Company Overview - QuickLogic Corporation is a fabless semiconductor company that specializes in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions, combining cutting-edge technology with open-source tools to deliver customizable, low-power solutions across various markets [5]

Core Insights - QuickLogic Corporation has been awarded an Incremental Funding Modification (IFM) of $1.43 million for its Strategic Radiation Hardened (SRH) Program, in addition to a previous contract of $6.58 million received in December 2024 [1][2] Group 1: Company Overview - QuickLogic Corporation is a fabless semiconductor company that specializes in embedded FPGA (eFPGA) Hard IP, discrete FPGAs, and endpoint AI solutions [2] - The company focuses on delivering highly customizable, low-power solutions for various markets including industrial, aerospace, consumer, and computing [2] Group 2: Strategic Initiatives - The IFM supports the continued development and demonstration of high reliability SRH FPGA technology, which is designed to meet the stringent standards of Aerospace and Defense Industrial Base customers [1][2] - The expanded scope of the ongoing contract highlights the program's aim to fulfill current and future Department of Defense (DoD) strategic and space system requirements [2]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $5.7 million, down 24% from Q4 2023 but up 34% compared to Q3 2024 [38] - New product revenue in Q4 was $4.7 million, down 32% from Q4 2023 and up 32% compared to Q3 2024 [38] - Non-GAAP gross margin in Q4 was 62%, compared to 78.3% in Q4 2023 and 60% in Q3 2024 [39] - Non-GAAP net income was $0.6 million, or $0.04 per diluted share, compared to $2.6 million, or $0.18 per diluted share, in Q4 2023 [40] - Total cash at the end of Q4 was $21.9 million, down from $22.4 million at the end of Q3 [42] Business Line Data and Key Metrics Changes - Mature product revenue was $1.0 million, up from $0.7 million in both Q4 2023 and Q3 2024 [38] - The company anticipates significant revenue growth and non-GAAP profitability beginning in Q2 2025 due to new contracts [10][45] Market Data and Key Metrics Changes - The company has established eFPGA Hard IP for six unique fabrication process technologies and expects to expand this to nine or ten during 2025 [55] - The acquisition of FlexLogix by Analog Devices has created a market opportunity for QuickLogic to fill the void left by FlexLogix's eFPGA IP [18] Company Strategy and Development Direction - The company is focusing on diversifying its end markets beyond the defense industrial base, including industrial and consumer sectors [90] - Investments made in 2024 are expected to yield solid returns as the company is positioned as the only supplier of eFPGA Hard IP optimized for Intel 18A [54][55] - The company plans to leverage existing contracts and new customer engagements to drive revenue growth [59] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about a significant rebound in revenue and profitability starting in Q2 2025, driven by new contract awards [10][45] - The company is confident in achieving cash flow positivity in Q2 and for the full year 2025 [51] Other Important Information - The company is exploring options for SensiML, including a potential sale, with a conclusion expected before the next earnings call [36] - The company plans to implement an At-The-Market (ATM) offering to provide flexibility for managing cash flow and investments [52] Q&A Session Summary Question: What are the expectations for Q2 revenue? - Management expects Q2 revenue to exceed $6 million, driven by significant IP design contracts [66] Question: How is the funnel for new opportunities progressing? - The funnel has grown, primarily due to new eFPGA opportunities, although specific quantitative metrics were not provided [71][72] Question: What is the outlook for Intel 18A opportunities? - Management believes there is strong demand for Intel 18A, particularly from the U.S. government and defense sectors, regardless of Intel's corporate structure [78][80] Question: What is the expected timeframe for converting FlexLogix customers? - Management anticipates a shorter timeframe for converting FlexLogix customers into revenue, aided by the new VP of IP Sales [84] Question: How does the company plan to diversify its end markets? - The company is actively pursuing opportunities outside aerospace and defense, including industrial and consumer markets, leveraging the expertise of the new VP of IP Sales [90][92]