SAN JOSE, Calif., March 3, 2026 /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 fourth quarter that ended December 28, 2025.
Recent Highlights
- Expanded U.S. Strategic Radiation Hardened (SRH) FPGA government program, increasing total contract ceiling to approximately $89 million and successfully taped out a test chip on GlobalFoundries 12LP process
- Announced $13 million contract tranche for the U.S. SRH FPGA government program
- Received initial orders for SRH FPGA Development Kits (Dev Kits) for Test Chip evaluation
- Incorporated architectural enhancements developed under 1M LUT Feasibility Study Contract that enable QuickLogic to address lucrative markets for very high-density discrete and embedded FPGAs
- Secured multiple, new commercial eFPGA Hard IP design wins, including a high-performance data center production ASIC on a 12nm process node
- Entered the hardware cybersecurity market through a partnership with Idaho Scientific, enabling crypto-agile secure ASIC and SoC designs using QuickLogic eFPGA Hard IP
- Advanced presence in space and high-reliability computing as University of Saskatchewan selected eFPGA IP for a radiation-tolerant RISC-V StarRISC microcontroller platform
- Published customer case study showing 50% power savings when Epson moved from Software to eFPGA for programmable algorithm processing
"We are extremely proud the U.S. Government has expanded the scope of our Prime Contract and awarded us a $13 million tranche last month," said Brian Faith, CEO of QuickLogic. "With this and the milestones we accomplished during 2025, we have entered 2026 on very sound footing, and we believe, positioned for significant revenue growth beginning this year."
Fiscal Fourth Quarter 2025 Financial Results
Total revenue from continuing operations for the fourth quarter of fiscal 2025 was $3.7 million, a decrease of 34.2% compared with the fourth quarter of 2024 and an increase of 84.0% compared with the third quarter of 2025.
New product revenue from continuing operations was approximately $2.8 million in the fourth quarter of 2025, a decrease of $1.8 million, or 38.5%, compared with the fourth quarter of 2024 and an increase of $1.8 million, or 198.6%, compared with the third quarter of 2025.
Mature product revenue from continuing operations was $0.9 million in the fourth quarter of 2025. This compares to $1.0 million in the fourth quarter of 2024 and $1.1 million in the third quarter of 2025.
Fourth quarter 2025 GAAP gross margin from continuing operations was 18.1% compared with 62.7% in the fourth quarter of 2024 and (23.3%) in the third quarter of 2025.
Fourth quarter 2025 non-GAAP gross margin from continuing operations was 20.8% compared with 65.8% in the fourth quarter of 2024 and (11.9%) in the third quarter of 2025.
Fourth quarter 2025 GAAP operating expenses from continuing operations were $4.2 million compared with $3.4 million in the fourth quarter of 2024 and $3.5 million in the third quarter of 2025.
Fourth quarter 2025 non-GAAP operating expenses from continuing operations were $3.5 million compared with $2.6 million in the fourth quarter of 2024 and $2.9 million in the third quarter of 2025.
Fourth quarter 2025 GAAP net loss was ($6.0 million), or ($0.35) per share, compared with a net loss of ($0.3 million), or ($0.02) per share, in the fourth quarter of 2024, and a net loss of ($4.0 million), or ($0.24) per share, in the third quarter of 2025.
Fourth quarter 2025 non-GAAP net loss was ($2.9 million), or ($0.17) per share, compared with a net income of $0.6 million, or $0.04 per share, in the fourth quarter of 2024, and a net loss of ($3.2 million), or ($0.19) per share, in the third 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, March 3, 2026, 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 13758490.
The call recording, which can be accessed by phone, will be archived through March 10, 2026, 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.
QuickLogic uses its website (www.quicklogic.com), the company blog (https://www.quicklogic.com/blog/), corporate X account (@QuickLogic_Corp), Facebook page (https://www.facebook.com/QuickLogic), and LinkedIn page (https://www.linkedin.com/company/13512/) as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and QuickLogic may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the Company's website and its social media accounts in addition to following the Company's press releases, SEC filings, public conference calls, and webcasts.
Non-GAAP Financial Measures
QuickLogic reports financial information in accordance with United States Generally Accepted Accounting Principles, or U.S. GAAP, but believes that non-GAAP financial measures are helpful in evaluating its operating results and comparing its performance to comparable companies. Accordingly, the Company excludes certain charges related to stock-based compensation, impairments, and restructuring costs, in calculating non-GAAP (i) income (loss) from operations, (ii) net income (loss), (iii) net income (loss) per share, and (iv) gross margin percentage. The Company provides this non-GAAP information to enable investors to evaluate its operating results in a manner like how the Company analyzes its operating results and to provide consistency and comparability with similar companies in the Company's industry.
Management uses the non-GAAP measures, which exclude gains, losses, and other charges that are considered by management to be outside of the Company's core operating results, internally to evaluate its operating performance against results in prior periods and its operating plans and forecasts. In addition, the non-GAAP measures are used to plan for the Company's future periods and serve as a basis for the allocation of the Company's resources, management of operations and the measurement of profit-dependent cash, and equity compensation paid to employees and executive officers.
Investors should note, however, that the non-GAAP financial measures used by QuickLogic may not be the same non-GAAP financial measures and may not be calculated in the same manner as that of other companies. QuickLogic does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures alone or as a substitute for financial information prepared in accordance with U.S. GAAP. A reconciliation of U.S. GAAP financial measures to non-GAAP financial measures is included in the financial statements portion of this press release. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of non-GAAP financial measures with their most directly comparable U.S. GAAP financial measures.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our future profitability and cash flows, expectations regarding our future business and expected revenue growth, and statements regarding the timing, milestones, and payments related to our government contracts and actual results may differ due to a variety of factors including: delays in the market acceptance of the Company's new products; the ability to convert design opportunities into customer revenue; our ability to replace revenue from end-of-life products; the level and timing of customer design activity; the market acceptance of our customers' products; the risk that new orders may not result in future revenue; our ability to introduce and produce new products based on advanced wafer technology on a timely basis; our ability to adequately market the low power, competitive pricing and short time-to-market of our new products; intense competition by competitors; our ability to hire and retain qualified personnel; changes in product demand or supply; general economic conditions; political events, international trade disputes, natural disasters and other business interruptions that could disrupt supply or delivery of, or demand for, the Company's products; and changes in tax rates and exposure to additional tax liabilities. These and other potential factors and uncertainties that could cause actual results to differ materially from the results contemplated or implied are described in more detail in the Company's public reports filed with the U.S. Securities and Exchange Commission (the "SEC"), including the risks discussed in the "Risk Factors" section in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and in the Company's prior press releases, which are available on the Company's Investor Relations website at http://ir.quicklogic.com/, and on the SEC website at www.sec.gov/. In addition, please note that the date of this press release is March 3, 2026, and any forward-looking statements contained herein are based on management's current expectations and assumptions that we believe to be reasonable as of this date. We are not obliged to update these statements due to latest information or future events.
QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.
CODE: QUIK-E
-Tables Follow -
QUICKLOGIC CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(Unaudited)
Three Months Ended Year Ended
December December September December December
28, 2025 29, 2024 28, 2025 28, 2025 29, 2024
Revenue $
3,733 $
5,677 $
2,029 $
13,774 $
19,651
Cost of revenue 3,058 2,118 2,501 10,740 7,558
Gross profit (loss) 675 3,559 (472) 3,034 12,093
Operating expenses:
Research and development 1,436 1,380 1,398 5,295 5,846
Selling, general and administrative 2,728 2,029 2,057 9,283 8,767
Impairment charges 300
Restructuring costs 75
Total operating expense 4,164 3,409 3,455 14,953 14,613
Operating income (loss) (3,489) 150 (3,927) (11,919) (2,520)
Interest expense (79) (111) (87) (371) (406)
Interest and other (expense) income, net 29 9 (28) 24
Income (loss) before income taxes (3,568) 68 (4,005) (12,318) (2,902)
(Benefit from) provision for income taxes 30 (11) (1) 35 3
Net income (loss) from continuing operations (3,598) 79 (4,004) (12,353) (2,905)
Net income (loss) from discontinued operations, net (2,368) (384) (3) (2,481) (936)
of taxes and inclusive of $87 in restructuring
costs for the fiscal year ended December 28,
2025
Net income (loss) $
(5,966) $
(305) $
(4,007) $
(14,834) $
(3,841)
Net income (loss) from continuing operations per
share:
Basic $
(0.21) $
0.01 $
(0.24) $
(0.76) $
(0.20)
Diluted $
(0.21) $
0.01 $
(0.24) $
(0.76) $
(0.20)
Net income (loss) per share:
Basic $
(0.35) $
(0.02) $
(0.24) $
(0.91) $
(0.26)
Diluted $
(0.35) $
(0.02) $
(0.24) $
(0.91) $
(0.26)
Weighted average shares outstanding:
Basic 17,103 14,869 16,516 16,243 14,510
Diluted 17,103 14,869 16,516 16,243 14,510
Note: Net income (loss) equals total comprehensive income (loss) for all periods presented. Additionally, the Company notes that income taxes related to discontinued operations were immaterial in nature for the periods presented and as such, only net income (loss) from discontinued operations was reported herein.
QUICKLOGIC CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(Unaudited)
December 28, December 29,
2025 2024
ASSETS
Current assets:
Cash, cash equivalents and restricted cash $
18,840 $
21,859
Accounts receivable, net of allowance for credit losses of $0 as of December 28, 2,809 2,426
2025 and December 29, 2024
Contract assets 217 2,682
Inventories 956 940
Prepaid expenses and other current assets 1,382 1,666
Assets of business held for disposal, net 2 31
Total current assets 24,206 29,604
Property and equipment, net 18,234 15,699
Capitalized internal-use software, net 1,116 711
Right of use assets, net 464 758
Intangible assets, net 339 378
Non-marketable equity investment 300
Inventories, non-current 187 718
Note receivable, non-current 1,292
Other assets 240 117
Assets of business held for disposal, net 2,356
TOTAL ASSETS $
44,786 $
51,933
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Revolving line of credit $
15,000 $
18,000
Trade payables 2,251 3,097
Accrued liabilities 1,779 1,587
Deferred revenue 64 444
Notes payable, current 1,870 1,928
Lease liabilities, current 321 284
Liabilities of business held for disposal 57
Total current liabilities 21,285 25,397
Long-term liabilities:
Lease liabilities, non-current 126 447
Notes payable, non-current 926 1,202
Total liabilities 22,337 27,046
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value? 10,000 shares authorized? no shares issued and
outstanding
Common stock, $0.001 par value; 200,000 authorized; 17,290 and 15,336 shares issued 17 15
and outstanding as of December 28, 2025 and December 29, 2024, respectively
Additional paid-in capital 346,662 334,268
Accumulated deficit (324,230) (309,396)
Total stockholders' equity 22,449 24,887
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $
44,786 $
51,933
QUICKLOGIC CORPORATION
SUPPLEMENTAL RECONCILIATIONS OF US GAAP AND NON-GAAP FINANCIAL MEASURES
(in thousands, except per share amounts and percentages)
(Unaudited)
Three Months Ended Year Ended
December December September December December
28, 2025 29, 2024 28, 2025 28, 2025 29, 2024
US GAAP operating income (loss) $
(3,489) $
150 $
(3,927) $
(11,919) $
(2,520)
Adjustment for stock-based compensation within:
Cost of revenue 100 177 231 678 852
Research and development 194 249 96 637 978
Selling, general and administrative 450 538 501 2,036 2,669
Adjustment for impairment charges 300
Adjustment for restructuring costs 75
Non-GAAP operating income (loss) $
(2,745) $
1,114 $
(3,099) $
(8,193) $
1,979
US GAAP net income (loss) from continuing $
(3,598) $
79 $
(4,004) $
(12,353) $
(2,905)
operations
Adjustment for stock-based compensation within:
Cost of revenue 100 177 231 678 852
Research and development 194 249 96 637 978
Selling, general and administrative 450 538 501 2,036 2,669
Adjustment for impairment charges 300
Adjustment for restructuring costs 75
Non-GAAP net income (loss) from continuing $
(2,854) $
1,043 $
(3,176) $
(8,627) $
1,594
operations
US GAAP net income (loss) from discontinued $
(2,368) $
(384) $
(3) $
(2,481) $
(936)
operations
Adjustment for stock-based compensation within:
Research and development (40) (32) 107
Adjustment for impairment charges 2,355 2,355
Adjustment for restructuring costs 87
Non-GAAP net income (loss) from discontinued $
(13) $
(424) $
(3) $
(71) $
(829)
operations
Non-GAAP net income (loss) $
(2,867) $
619 $
(3,179) $
(8,698) $
765
US GAAP net income (loss) from continuing $
(0.21) $
0.01 $
(0.24) $
(0.76) $
(0.20)
operations per share, basic
Adjustment for stock-based compensation 0.04 0.06 0.05 0.21 0.31
Adjustment for impairment charges 0.02
Adjustment for restructuring costs
Non-GAAP net income (loss) from continuing $
(0.17) $
0.07 $
(0.19) $
(0.53) $
0.11
operations per share, basic
US GAAP net income (loss) from discontinued $
(0.14) $
(0.03)
$ $
(0.15) $
(0.06)
operations per share, basic
Adjustment for stock-based compensation
Adjustment for impairment charges 0.14 0.14
Adjustment for restructuring costs 0.01
Non-GAAP net income (loss) from discontinued
$ $
(0.03)
$
$ $
(0.06)
operations per share, basic
Non-GAAP net income (loss) per share, basic $
(0.17) $
0.04 $
(0.19) $
(0.53) $
0.05
US GAAP net income (loss) from continuing $
(0.21) $
0.01 $
(0.24) $
(0.76) $
(0.20)
operations per share, diluted
Adjustment for stock-based compensation 0.04 0.06 0.05 0.21 0.31
Adjustment for impairment charges 0.02
Adjustment for restructuring costs
Non-GAAP net income (loss) from continuing $
(0.17) $
0.07 $
(0.19) $
(0.53) $
0.11
operations per share, diluted
US GAAP net income (loss) from discontinued $
(0.14) $
(0.03) $
(0.15) $
(0.06)
operations per share, diluted
Adjustment for stock-based compensation
Adjustment for impairment charges 0.14 0.14
Adjustment for restructuring costs 0.01
Non-GAAP net income (loss) from discontinued
$ $
(0.03)
$
$ $
(0.06)
operations per share, diluted
Non-GAAP net income (loss) per share, diluted $
(0.17) $
0.04 $
(0.19) $
(0.53) $
0.05
18.1 62.7
% % % %
US GAAP gross margin percentage from % (23.3) 22.0 61.5
continuing operations
Adjustment for stock-based compensation included 2.7 3.1
% % % %
% 11.4 4.9 4.4
in cost of revenue
20.8 65.8
% % % %
Non-GAAP gross margin percentage from % (11.9) 26.9 65.9
continuing operations
QUICKLOGIC CORPORATION
SUPPLEMENTAL DATA
(Unaudited)
Percentage of Revenue Change in Revenue
Q4 2025 Q4 2024 Q3 2025 Q4 2025 to Q4 2025 to
Q4 2024 Q3 2025
COMPOSITION OF REVENUE
Revenue by product: (1)
New products 76 81 47
% %
% % % (39) 199
Mature products 24 18 53
% %
% % % (15) (18)
Discontinued Operations:
New products % 1 % (100)
% % %
Revenue by geography:
Asia Pacific 10 10 47
% %
% % % (32) (62)
North America 81 85 51
% %
% % % (38) 191
Europe 9 5 2
% %
% % % 23 869
Discontinued Operations:
Asia Pacific % % % (100)
% %
North America % % % (100)
% %
Europe % % % % %
_____________________
(1) New products include all products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP intellectual property, professional services, and
QuickAI and SensiML AI software as a service (SaaS) revenue. Mature products include all products produced on semiconductor processes larger than 180
nanometer and includes related royalty revenue.
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SOURCE QuickLogic Corporation
Company Contact, Elias Nader, Chief Financial Officer, (408) 990-4000, ir@quicklogic.com; IR Contact, Alison Ziegler, Darrow Associates, Inc., (201) 220-2678, ir@quicklogic.com