QuickLogic Reports Fiscal Second Quarter 2025 Financial Results

SAN JOSE, Calif., Aug. 12, 2025 -- 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 29, 2025.

Recent Highlights

• Signed a new, revenue-generating eFPGA Hard IP License contract for a customer's Intel 18A test chip
• Awarded a feasibility contract for a very high-density eFPGA IP core
• Announced Aurora PRO FPGA User Tool that fully integrates Synopsis Synplify®, delivering 50% better resource utilization and up to 35% faster maximum frequency
• Initiated implementation of major improvements for proprietary Australis IP Generation tool with release scheduled for Q4
• Joined Intel Foundry Chiplet Alliance to expand eFPGA IP and chiplet solutions targeting Intel 18A

"With our growing success in customer designs targeting advanced fabrication nodes, which include 12nm at GlobalFoundries and TSMC, and Intel 18A, we are seeing increasing interest in high density designs," said Brian Faith, CEO of QuickLogic. "In response, we've accelerated the introduction schedule of Australis 2.0, our proprietary IP Generation tool. Australis 2.0 is scheduled for deployment in Q4 and will incorporate many new features driven by customer requirements and existing revenue-generating contracts."

Fiscal Second Quarter 2025 Financial Results

Total revenue from continuing operations for the second quarter of fiscal 2025 was $3.7 million, a decrease of 10.0% compared with the second quarter of 2024 and a decrease of 14.8% compared with the first quarter of 2025.

New product revenue from continuing operations was approximately $2.9 million in the second quarter of 2025, a decrease of $0.1 million, or 3.6%, compared with the second quarter of 2024 and a decrease of $0.8 million, or 22.1%, compared with the first quarter of 2025.

Mature product revenue from continuing operations was $0.8 million in the second quarter of 2025. This compares to $1.1 million in the second quarter of 2024 and $0.6 million in the first quarter of 2025.

Second quarter 2025 GAAP gross margin from continuing operations was 25.9% compared with 54.7% in the second quarter of 2024 and 43.4% in the first quarter of 2025.

Second quarter 2025 non-GAAP gross margin from continuing operations was 31.0% compared with 58.2% in the second quarter of 2024 and 47.1% in the first quarter of 2025.

Second quarter 2025 GAAP operating expenses from continuing operations were $3.5 million compared with $3.4 million in the second quarter of 2024 and $3.9 million in the first quarter of 2025.

Second quarter 2025 non-GAAP operating expenses from continuing operations were $2.5 million compared with $2.8 million in the second quarter of 2024 and $3.0 million in the first quarter of 2025.

Second quarter 2025 GAAP net loss was ($2.7 million), or ($0.17) per share, compared with a net loss of ($1.6 million), or ($0.11) per share, in the second quarter of 2024, and a net loss of ($2.2 million), or ($0.14) per share, in the first quarter of 2025.

Second quarter 2025 non-GAAP net loss was ($1.5 million), or ($0.09) per share, compared with a net loss of ($0.7 million), or ($0.05) per share, in the second quarter of 2024, and a net loss of ($1.1 million), or ($0.07) per share, in the first quarter of 2025.

Conference Call

QuickLogic will hold a conference call at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time today, August 12, 2025, to discuss its current financial results. The conference call will be webcast on QuickLogic's IR Site Events Page at https://ir.quicklogic.com/ir-calendar. To join the live conference, you may dial (877) 407-0792 and international participants should dial (201) 689-8263 by 2:20 p.m. Pacific Time. No Passcode is needed to join the conference call. A recording of the call will be available approximately one hour after completion. To access the recording, please call (844) 512-2921 and reference the passcode 13755041.

The call recording, which can be accessed by phone, will be archived through August 19, 2025, and the webcast will be available for 12 months on the Company's website.

About QuickLogic

QuickLogic is a fabless semiconductor company specializing in embedded FPGA (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 aerospace and defense, industrial, computing, and consumer markets. For more information, visit www.quicklogic.com.