QuickLogic Corporation reported a total revenue of $20.1 million for the fiscal year ending December 29, 2024, a decrease of approximately 5% from $21.2 million in the previous fiscal year. The decline was primarily driven by an $11% drop in new product revenue, which fell to $16.1 million from $18.2 million. This decrease was largely attributed to a significant reduction in eFPGA IP revenue, which dropped by 22% to $13.1 million, while mature product revenue increased by 33% to $4.0 million. The company also recorded a net loss of $3.8 million, compared to a loss of $0.3 million in the prior year, reflecting ongoing challenges in converting design opportunities into revenue.
In terms of operational developments, QuickLogic's employee headcount stood at 59 as of December 29, 2024, with 51 employees based in the United States. The company continues to focus on its eFPGA IP and silicon solutions as key growth drivers, with expectations that revenue from these new products will be sufficient to sustain profitability. The company has also made strategic changes to its manufacturing strategies to reduce costs and enhance product offerings, including the introduction of new silicon platforms and AI software solutions through its subsidiary, SensiML.
QuickLogic's customer base remains concentrated, with one customer accounting for 54% of total revenue in 2024, down from 70% in 2023. The company is actively working to diversify its customer portfolio, particularly in the Aerospace and Defense sectors, where it has secured multiple contracts related to eFPGA technology. The company has also expanded its geographic reach, with sales operations in North America, Europe, and Asia, supported by a network of distributors and sales representatives.
Looking ahead, QuickLogic anticipates continued challenges in achieving cash flow levels sufficient to support operations, particularly as it invests in new product development. The company has indicated that it may need to seek additional financing to fund operations, given its history of operating losses. The outlook for 2025 remains cautious, with expectations of ongoing revenue fluctuations and the potential for further losses in some quarters as the company navigates the competitive semiconductor landscape and works to capitalize on emerging market opportunities.
About QUICKLOGIC Corp
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.