QuickLogic Corp - QUIK STOCK NEWS

QuickLogic (NASDAQ: QUIK) reported its fiscal Q3 2024 financial results with total revenue of $4.3 million, showing a 35.9% decrease year-over-year but a 3.5% increase quarter-over-quarter. New product revenue was $3.5 million, down 42% from Q3 2023. The company reported a GAAP net loss of ($2.1 million), or ($0.14) per share, compared to net income of $1.2 million in Q3 2023. Notable achievements include delivering eFPGA IP for GlobalFoundries' 12LP process and TSMC's N12e process, while continuing development of eFPGA Hard IP core for Intel 18A process.

QuickLogic (NASDAQ: QUIK), a developer of embedded FPGA IP, ruggedized FPGAs and Endpoint AI solutions, has scheduled its third quarter fiscal 2024 financial results conference call for Monday, November 11, 2024, at 5:30 p.m. ET. The company also announced participation in two upcoming investor events: the Craig-Hallum Alpha Select 1x1 Conference on November 19 and the 13th Annual NYC Summit on December 17. A webcast of the earnings call will be available on QuickLogic's IR Site Events Page for 12 months.

SensiML , a subsidiary of QuickLogic (NASDAQ: QUIK), has announced the integration of RISC-V processor support within its AI development tool suite. This addition offers developers increased flexibility in building intelligent, resource-constrained edge devices with AI/ML sensor data processing. The open-source nature of RISC-V aligns with SensiML's commitment to transparent and accessible solutions for the IoT market.

Developers can now use SensiML's open-source Piccolo AI AutoML tool to create ultra-efficient machine learning models tailored to specific applications using fully open-source hardware and software. This combination unlocks RISC-V's advantages in cost, customization, and scalability. According to Omdia's forecast, RISC-V processors are expected to grow from under 1% market share in 2020 to nearly 25% of global processors sold by 2030.

SensiML, a subsidiary of QuickLogic (NASDAQ: QUIK), has partnered with Efabless to revolutionize IoT development. This collaboration aims to simplify and accelerate the creation of optimized, application-specific AI at the edge using fully open-source hardware and software. The partnership addresses two key challenges:

1. Sourcing low-cost, power-efficient silicon tailored for specific IoT edge products
2. Implementing accurate sensor AI inference models for resource-constrained devices

The joint solution combines Efabless's custom SoC development platform with SensiML's AutoML software, enabling developers to create sophisticated edge AI solutions more efficiently. The partnership leverages open-source technologies, including RISC-V processor cores and SensiML's Piccolo AI™ AutoML toolchain. A live demo showcasing a power-optimized keyword recognition system will be presented at Embedded World USA in Austin, TX.

QuickLogic (NASDAQ: QUIK) has successfully delivered embedded FPGA (eFPGA) IP for TSMC's N12e 12nm process to a large multi-national customer in record time—within three months from finalizing specifications to IP completion. This achievement follows a contract secured in March 2024. The IP is designed for a new ultra-low-power SoC targeting commercial and industrial IoT markets, enabling fast adaptation to evolving AI algorithms while offering significant power and throughput advantages over traditional software solutions.

QuickLogic's CEO, Brian Faith, emphasized the company's commitment to accelerating development schedules, attributing their success to decades of experience and their proprietary Australis IP Generator. The delivered IP is now available for further customization, allowing QuickLogic to meet diverse customer requirements across various industries and adapt to specific needs in a short timeframe.

QuickLogic (NASDAQ: QUIK), a leader in embedded FPGA (eFPGA) Hard IP, ruggedized FPGAs, and endpoint AI solutions, has announced its participation in GlobalFoundries' annual Technology Summit in Munich on September 18, 2024. The company will be exhibiting at Booth 19, showcasing its Bespoke eFPGA IP Core, which supports multiple GF processes and can be custom-tailored for various applications.

QuickLogic's eFPGA IP can be implemented on multiple process nodes, including 65nm, 40nm, 22FDX®, and 12LP/LP+. This versatility enables its use across diverse industries, from aerospace and defense to industrial applications. Attendees will have the opportunity to discuss their specific needs with experts and explore how programmable logic can benefit their projects.

QuickLogic (NASDAQ: QUIK) reported a 41% year-over-year revenue growth for Q2 fiscal 2024. Total revenue reached $4.1 million, with new product revenue at $3.1 million, up 36.9% from Q2 2023. The company's GAAP gross margin improved to 51.0% from 41.2% in Q2 2023. QuickLogic reported a GAAP net loss of $1.6 million, or ($0.11) per share, compared to a net loss of $2.3 million in Q2 2023. Notable achievements include joining Intel Foundry Accelerator IP and USMAG Alliance Programs, receiving a $5.26 million contract tranche, and expanding global distribution partnerships. The company also highlighted growth in its sales funnel to $189 million.

QuickLogic (NASDAQ: QUIK) has announced a strategic partnership with CTG, a division of Blue Raven Solutions, to strengthen the aerospace and defense supply chain. CTG will be the sole source distributor for QuickLogic's embedded FPGA (eFPGA) Hard IP in this sector. This collaboration aims to provide customizable solutions for ruggedized SoCs and ASICs, addressing obsolescence challenges and enhancing flexibility in mission-critical applications.

The partnership leverages CTG's industry experience and network to connect QuickLogic's eFPGA IP solutions with key players in aerospace and defense. QuickLogic's technology offers programmable logic and custom eFPGA IP cores, enabling tailored solutions that can reduce system costs, extend product lifecycles, and lower power consumption for mission-critical applications.

QuickLogic (NASDAQ: QUIK), a developer of embedded FPGA IP, ruggedized FPGAs, and Endpoint AI solutions, has announced its second quarter fiscal 2024 financial results conference call scheduled for August 13, 2024, at 5:30 p.m. ET. The company will also participate in several upcoming investor conferences in the third quarter of 2024, including:

• Oppenheimer Annual Technology, Internet & Communications Conference (August 14)
• Needham Semiconductor & SemiCap 1x1 Conference (August 21/22)
• Jefferies Semiconductor, IT Hardware & Communications Technology Conference (August 27)
• H.C. Wainwright 26th Annual Global Investment Conference (September 10/13)

Webcasts and investor presentations will be accessible from QuickLogic's Investors section on their website.