QuickLogic Corp - QUIK STOCK NEWS

Everspin Technologies (NASDAQ:MRAM) has signed a contract with QuickLogic (NASDAQ:QUIK) to provide MRAM technology and manufacturing services, valued initially at $2.8M, with potential growth to $8.7M. This project aims to develop Strategic Radiation Hardened (SRH) FPGA technology for Department of Defense applications. Everspin's MRAM technology, noted for its radiation immunity, will be integrated into FPGA products, expanding its market reach. Everspin and QuickLogic express confidence in the collaboration's potential to innovate for harsh environments.

QuickLogic Corporation (NASDAQ: QUIK) has partnered with Hefei ChipMotion Microelectronics to provide turnkey eFPGA design support for SoC designs. This collaboration will enable ChipMotion to enhance its eFPGA distribution in China by integrating QuickLogic's Australis™ eFPGA IP technology. The partnership aims to give SoC developers greater design flexibility post-manufacturing, allowing for custom logic implementations and extended product lifecycles. QuickLogic's eFPGA technology supports multiple process nodes, enhancing profitability and adaptability in competitive markets.

QuickLogic Corporation (NASDAQ: QUIK) announced a registered direct offering of 487,279 shares, raising approximately $3.2 million at a price of $6.57 per share. The offering, supported by current institutional investors, represents about 3.9% of outstanding shares as of September 14, 2022. This funding enhances the Company's balance sheet and working capital, enabling it to continue growth, hire more engineers, and achieve profitability. QuickLogic aims to leverage its $100 million sales funnel as it builds on 30 years of expertise in FPGA technology.

QuickLogic Corporation (NASDAQ: QUIK) has secured a $6.9 million Base Contract from the US Government to develop Strategic Radiation Hardened FPGA technology. This project, sponsored by the DoD's Trusted and Assured Microelectronics Program, begins this month and could expand to $72 million through additional options over multiple years. The company will collaborate with SkyWater Technologies, Everspin Technologies, and others, focusing on high-reliability applications for defense systems.

QuickLogic Corporation (NASDAQ: QUIK) will participate virtually in the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. The company develops ultra-low power multi-core voice-enabled SoCs and AI solutions. A webcast of their presentation will begin on September 12 at 7:00 a.m. ET, with virtual meetings available on September 13 from 8:00 a.m. ET to 11:00 a.m. ET. Interested investors can contact QuickLogic Investor Relations for participation details. More information and resources are available on their website.

QuickLogic Corporation (NASDAQ: QUIK) announced a significant financial milestone with a new eFPGA contract valued at approximately $7 million, marking the largest contract in its history, potentially growing to tens of millions. For Q2 FY2022, total revenue reached $4.5 million, up 58% year-over-year. New product revenue was approximately $3.1 million, reflecting a 148% increase from the same period last year, though down 9.2% from Q1 2022. The company's GAAP net loss improved to $0.5 million from $1.2 million in Q1 2022. Gross margins were 56% GAAP and 58.6% non-GAAP.

QuickLogic Corporation (NASDAQ: QUIK) announced its participation in the Rosenblatt Virtual Technology Summit on August 24, 2022, at 3:00 p.m. Eastern Time. The company focuses on ultra-low power multi-core voice enabled SoCs, embedded FPGA IP, and Endpoint AI solutions. Interested investors can contact QuickLogic Investor Relations for meetings. A webcast of the summit will be available on QuickLogic's website. The company develops low power semiconductor platforms that integrate AI and sensor processing for various applications.

QuickLogic Corporation (NASDAQ: QUIK), a developer of ultra-low power semiconductor solutions, has scheduled a conference call for August 16, 2022, at 5:30 p.m. ET to discuss its second quarter fiscal year 2022 financial results. Investors can join the call using the toll-free number 1-877-407-0792 or internationally at 1-201-689-8263. A replay will be available until August 23, 2022. The company specializes in multi-core voice-enabled SoCs and embedded FPGA IP solutions, catering to AI and sensor processing across diverse applications.

SensiML Corporation announced the successful deployment of an AI-based vibration sensor by its customer, aiSensing, for a leading Taiwanese manufacturer. This intelligent sensor monitors vibration patterns, detects anomalies, and issues maintenance requests, enhancing factory productivity and reducing equipment downtime. The local AI implementation ensures low costs, fast response times, and high data security. Developed on QuickLogic's EOS S3 SoC, this predictive maintenance solution is a significant advancement in smart manufacturing.