QUICKLOGIC Corp

Listed Company

QUIKCIK 0000882508NasdaqNon-AcceleratedSmaller ReportingSemiconductors & Related DevicesCaliforniaFY ends Jan 3

Period

FY 2025

Revenue

$13.77M

Net Income

$-14.82M

Total Assets

$44.80M

Equity

$22.47M

Shares Out

17.72M

Op. Cash Flow

$-3.26M

Business

QUICKLOGIC Corp provides programmable silicon and software platforms enabling customers to develop custom hardware with fast time-to-market and low power consumption. It offers eFPGA IP licensing and professional services, low-power multi-core SoCs, discrete FPGAs, and AI/ML software via its SensiML subsidiary, plus FPGA user tools and design services. Key business areas include eFPGA IP and integration services, silicon solution platforms (SoCs and discrete FPGAs), and an AI/ML software suite for sensor analytics. The company sells through direct sales, channel partners, and distributors across North America, Europe, and Asia, serving Aerospace and Defense, Consumer/Industrial IoT, and Consumer Electronics markets.

Summary from filing dated 2025-03-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	14	20	21	16	13
Cost of revenue	11	8	7	7	5
Gross profit	3	12	14	9	7
Research and development	5	6	6	5	7
Selling, general and administrative	9	9	8	8	8
Asset Impairment Charges	300,000	0	—	—	—
Restructuring costs	75,000	0	—	—	—
Operating income (loss)	−12	−3	70,000	−4	−8
Interest expense	−370,000	−406,000	−215,000	−148,000	−130,000
Interest income and other (expense) income, net	−28,000	24,000	−116,000	−221,000	−43,000
Income (loss) from continuing operations before income taxes	−12	−3	−261,000	−4	−6
(Benefit from) provision for income taxes	18,000	3,000	2,000	98,000	119,000
Net income (loss) from continuing operations	−12	−3	—	—	—
Net income (loss) from discontinued operations, net of taxes	−2	−936,000	—	—	—
Net income (loss)	−15	−4	−263,000	−4	−7
Basic (in dollars per share)	−0.76	−0.2	—	—	—
Diluted (in dollars per share)	−0.76	−0.2	—	—	—
Basic (in dollars per share)	−0.91	−0.26	−0.02	−0.34	−0.57
Diluted (in dollars per share)	−0.91	−0.26	—	—	—
Basic (in shares)	16	15	13	13	11,535
Diluted (in shares)	16	15	—	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-06-30	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	19	—	22	25	19
Accounts receivable	3	—	2	2	3
Contract assets	217,000	—	3	4	2
Inventories	956,000	—	940,000	2	2
Prepaid expenses and other current assets	1	—	2	2	2
Assets of business held for disposal, net	2,000	—	31,000	—	—
Total current assets	24	—	30	35	28
Property and equipment, net	18	—	16	9	1
Capitalized internal-use software, net	1	—	711,000	2	2
Operating and Finance Lease, Right of Use Asset	464,000	—	758,000	981,000	464,000
Intangible assets, net	339,000	—	378,000	537,000	645,000
Non-marketable equity investment	0	300,000	300,000	300,000	300,000
Inventories, non-current	187,000	—	718,000	0	—
Financing Receivable, after Allowance for Credit Loss, Noncurrent	0	—	1	0	—
Other assets	241,000	—	117,000	142,000	140,000
Assets of business held for disposal, net	0	—	2	—	—
TOTAL ASSETS	45	—	52	48	33
Revolving line of credit	15	—	18	20	15
Trade payables	2	—	3	5	2
Accrued liabilities	2	—	2	3	2
Deferred revenue	64,000	—	444,000	1	272,000
Notes payable, current	2	—	2	946,000	448,000
Lease liabilities, current	321,000	—	284,000	302,000	402,000
Liabilities of business held for disposal	0	—	57,000	—	—
Total current liabilities	21	—	25	30	20
Lease liabilities, non-current	126,000	—	447,000	681,000	105,000
Notes payable, non-current	926,000	—	1	461,000	439,000
Total liabilities	22	—	27	31	21
Commitments and Contingencies (Note 16)	—	—	—	—	—
Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued or outstanding	0	—	0	0	0
Common stock, $0.001 par value; 200,000 shares authorized; 17,290 and 15,336 shares issued and outstanding as of December 28, 2025 and December 29, 2024, respectively	17,000	—	15,000	14,000	13,000
Additional paid-in capital	347	—	334	322	317
Accumulated deficit	−324	—	−309	−306	−305
Total stockholders' equity	22	—	25	17	12
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	45	—	52	48	33

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	5	4	2	1	1
ROU asset amortization	294,000	269,000	348,000	345,000	325,000
Stock-based compensation	3	5	3	2	3
Write-down of inventories	613,000	82,000	606,000	224,000	225,000
Impairment of investment in non-affiliate	300,000	0	—	—	—
Impairment of assets held by SensiML entity	2	0	—	—	—
Expected credit loss expense	7,000	−4,000	—	18,000	62,000
Non-cash interest expense	11,000	0	—	—	—
Loss on disposal of equipment	5,000	0	—	—	−5,000
Accounts receivable	−379,000	−807,000	1	−2	627,000
Contract assets	2	927,000	−2	−2	−295,000
Inventories	−98,000	289,000	−142,000	−639,000	385,000
Other assets	−361,000	233,000	−958,000	−220,000	−444,000
Trade payables	−2	−4	91,000	1	−2,000
Accrued liabilities	158,000	−1	1	−156,000	325,000
Deferred revenue	−390,000	−598,000	780,000	−183,000	403,000
Lease liabilities	−284,000	−298,000	−389,000	−366,000	−339,000
Other long-term liabilities	0	−125,000	0	−22,000	147,000
Net cash provided by (used in) operating activities	−3	27,000	5	−4	−3
Capital expenditures for property and equipment	−3	−5	−5	−142,000	−180,000
Capitalized internal-use software	−525,000	−967,000	−872,000	−672,000	−533,000
Purchases of intangible assets	0	−94,000	0	0	—
Net cash provided by (used in) investing activities	−4	−6	−6	−814,000	−713,000
Payment of notes payable	−2	−1	−701,000	−452,000	−378,000
Proceeds from notes payable	0	0	105,000	0	0
Proceeds from line of credit	60	78	65	60	60
Repayment of line of credit	−63	−80	−60	−60	−60
Proceeds from issuance of common stock	308,000	310,000	200,000	253,000	263,000
Proceeds from issuance of common stock to investors	9	7	2	5	1
Stock issuance costs	−496,000	−24,000	−20,000	−17,000	−45,000
Net cash provided by (used in) financing activities	4	4	7	4	434,000
Net increase (decrease) in cash, cash equivalents and restricted cash	−3	−3	5	−404,000	−3
Interest paid	368,000	344,000	81,000	86,000	77,000
Income taxes paid	23,000	33,000	14,000	16,000	73,000
Purchases of assets with financing arrangements	2	3	1	650,000	690,000
Stock-based compensation capitalized as internal-use software	50,000	49,000	248,000	0	0
Stock-based compensation capitalized as tooling and fixed assets	0	9,000	0	0	—
Purchases of property and equipment in accounts payable and accrued liabilities	973,000	2	2	1,000	1,000

Filings

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