QuickLogic Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 16.5% year-over-year in Q1 2026, with strong new product momentum and multiple strategic contracts signed. Guidance for 2026 remains 50%-100% revenue growth, with profitability and positive cash flow expected in the second half.
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The meeting covered director elections, executive compensation, and auditor ratification, all passing with overwhelming support. Strategic initiatives focused on eFPGA integration, capital-efficient growth, and major government contracts, with significant long-term revenue opportunities highlighted.
Fiscal Year 2025
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Fiscal 2025 revenue declined due to contract delays, but major milestones—including a $13M U.S. government contract tranche and new commercial wins—position the company for 50%-100% revenue growth in 2026, with profitability expected in the second half.
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Q3 revenue fell sharply year-over-year and sequentially, with a significant net loss and negative gross margin. Q4 guidance is wide due to timing of a large contract, but 2026 revenue is expected to rebound, driven by new storefront and eFPGA initiatives.
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Q2 revenue declined due to strategic resource shifts, but investments in Rad-Hard FPGA and Australis 2.0 are expected to drive a strong Q4 rebound and position the company for major defense and high-density eFPGA opportunities. Cash remains solid, with positive profitability targeted for Q4.
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Q1 revenue declined year-over-year due to timing of large IP contracts, but exceeded guidance midpoint. Strategic wins in Intel 18A and Faraday partnerships position for strong H2 rebound, with full-year outlook for revenue growth, profitability, and positive cash flow.
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QuickLogic is leveraging automation, open-source tools, and a diversified business model to drive growth in embedded FPGA IP and government contracts, with a strong focus on aerospace and defense. The company is poised to benefit from competitor consolidation, expects continued profitability, and is divesting non-core AI/ML assets to sharpen its focus.
Fiscal Year 2024
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Q4 2024 revenue declined year-over-year due to contract timing, but sequential growth and recent contract wins set up a strong rebound in Q2 and for full year 2025. Strategic investments in eFPGA hard IP, especially for Intel 18A, and new market opportunities are expected to drive higher margins and cash flow.
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Q3 revenue declined year-over-year due to contract timing, but sequential growth and strong gross margin were achieved. Major contract delays shifted $4 million in revenue into 2025, but new customer inquiries and strategic investments in Intel 18A eFPGA IP position the company for growth and improved profitability next year.
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The company is leveraging its programmable logic and AI/ML software platforms to serve a $1 billion market, with strong growth in defense, industrial, and IoT sectors. Automation and strategic partnerships drive operating leverage, while major contracts and new distributor relationships support a positive financial outlook and margin expansion.
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Q2 revenue grew 41% year-over-year but fell sequentially, prompting a full-year growth outlook cut to 15% due to customer-driven contract delays. A sharp Q4 rebound is expected, with strong IP, storefront, and chiplet opportunities ahead, and SensiML on track for record revenue.
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Programmable logic is undergoing rapid growth, driven by automation, open-source adoption, and demand in defense and industrial sectors. Strong revenue and margin performance are fueled by embedded FPGA IP, with a strategic focus on chiplets and storefront expansion over the next few years.