ARM Architecture

QuickLogic Studies Fiscal 2022 Second Quarter Outcomes


Secured new eFPGA contract value roughly $7 million, the biggest thus far, with the potential to extend to tens of hundreds of thousands of {dollars}

SAN JOSE, Calif., Aug. 16, 2022 — QuickLogic Company (NASDAQ: QUIK) (“QuickLogic” or the “Firm”), a developer of ultra-low energy multi-core voice enabled SoCs, embedded FPGA IP, and Endpoint AI options, as we speak introduced its monetary outcomes for the second quarter of fiscal 2022, ended July 3, 2022.

Current Highlights

  • On August 8, 2022, the Firm signed an roughly $7 million buyer contract. The Firm’s deliverables can be due over the course of twelve months. As well as, topic to completion of such deliverables and on the choice of the client, the overall contract worth may improve to tens of hundreds of thousands of {dollars}.
  • Launched the business’s first disaggregated eFPGA-enabled chiplet template resolution, based mostly on QuickLogic’s Australis™ eFPGA IP Generator and chiplet interfaces from eTopus.
  • SensiML deployed an endpoint AI-based vibration sensor to detect anomalies for vacuum pumps and chilling machines utilized in its manufacturing movement for a big multi-national producer in Asia.
  • Second Quarter Fiscal 2022 income elevated roughly 58% from the identical quarter a 12 months in the past.
  • New product income up 148% from the identical quarter a 12 months in the past.

Fiscal 2022 Second Quarter Monetary Outcomes

Complete income for the second quarter of fiscal 2022 was $4.5 million, a rise of 10.9% in contrast with the primary quarter of 2022, and a rise of 57.6% in contrast with the second quarter of 2021.

New product income was roughly $3.1 million within the second quarter of 2022, a lower of $0.3 million, or 9.2%, in contrast with the primary quarter of 2022, and a rise of $1.9 million, or 148.1%, in contrast with the second quarter of 2021. The rise in new product income from the identical interval a 12 months in the past was primarily as a consequence of greater eFPGA IP-related income, in addition to a rise in sensible connectivity product income.

Mature product income was $1.4 million within the second quarter of 2022, a rise of 118.3% in contrast with the primary quarter of 2022, and a lower of 13.0% in contrast with the second quarter of 2021.

Second quarter 2022 GAAP gross margin was 56.0% in contrast with 60.1% within the first quarter of 2022, and 50.9% within the second quarter of 2021.

Second quarter 2022 non-GAAP gross margin was 58.6% in contrast with 61.5% within the first quarter of 2022, and 51.5% within the second quarter of 2021.

Second quarter 2022 GAAP working bills had been $3.2 million, in contrast with $3.5 million within the first quarter of 2022, and $3.4 million within the second quarter of 2021.

Second quarter 2022 non-GAAP working bills had been $2.8 million, in contrast with $3.1 million within the first quarter of 2022, and $3.3 million within the second quarter of 2021.

Second quarter 2022 GAAP web loss was $0.5 million, or $0.04 per share, in contrast with a web lack of $1.2 million, or $0.10 per share, within the first quarter of 2022, and a web lack of $2.1 million, or $0.18 per share, within the second quarter of 2021.

Second quarter 2022 non-GAAP web loss was $47 thousand, or $0.00 per share, in contrast with a web lack of $0.8 million, or $0.06 per share, within the first quarter of 2022, and a web lack of $1.9 million, or $0.16 per share, within the second quarter of 2021.

Monetary tables

To learn monetary tables, click on right here

Convention Name

QuickLogic will maintain a convention name at 2:30 p.m. Pacific Time / 5:30 p.m. Jap Time as we speak, August 16, 2022, to debate its present monetary outcomes. The convention name can be webcast on QuickLogic’s IR Website Occasions Web page at https://ir.quicklogic.com/ir-calendar. To affix the stay convention, you might dial (877) 407-0792 and worldwide contributors ought to dial (201) 689-8263 by 2:20 p.m. Pacific Time. No Passcode is required to hitch the convention name. A recording of the decision can be obtainable beginning roughly one hour after completion. To entry the recording, please name (412) 317-6671 and reference the passcode 13731882.

The decision recording, which could be accessed by telephone, can be archived by means of August 23, 2022, and the webcast can be obtainable for 12 months on the Firm’s web site.

About QuickLogic

QuickLogic is a fabless semiconductor firm that develops low energy, multi-core semiconductor platforms and Mental Property (IP) for Synthetic Intelligence (AI), voice and sensor processing. The options embrace an embedded FPGA IP (eFPGA) for {hardware} acceleration and pre-processing, and heterogeneous multi-core SoCs that combine eFPGA with different processors and peripherals. The Analytics Toolkit from the Firm’s wholly owned subsidiary, SensiML Company, completes the end-to-end resolution with correct sensor algorithms utilizing AI expertise. The complete vary of platforms, software program instruments and eFPGA IP allows the sensible and environment friendly adoption of AI, voice and sensor processing throughout the multitude of cellular, wearable, hearable, shopper, industrial, edge and endpoint IoT functions. For extra data, go to www.quicklogic.com and https://www.quicklogic.com/weblog/.

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