QuickLogic Awarded New $3.0 Million eFPGA Contract
QuickLogic Corporation (NASDAQ: QUIK) has secured a significant eFPGA contract worth approximately $3.0 million, marking the largest contract of its kind to date. This contract increases the total value of eFPGA engagements since July 2021 to over $9.0 million. The company plans to utilize its Australis™ eFPGA IP Generator to tailor the eFPGA configuration for the client. Initial revenue is anticipated to commence this quarter and continue through June 2025, with additional revenue expected post-contract.
- Awarded the largest eFPGA contract to date valued at $3.0 million.
- Total eFPGA engagements exceed $9.0 million since July 2021.
- Expected revenue initiation from the new contract in Q2 2022, continuing through June 2025.
- None.
- Represents the Largest eFPGA Contract to Date
SAN JOSE, Calif., June 1, 2022 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK), a developer of ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP (eFPGA), and Endpoint AI solutions, today announced that it was awarded a new eFPGA contract for a previously announced foundry / process node combination, worth approximately
The Company will leverage its Australis™ eFPGA IP Generator, launched in September 2021, to implement the customer's specific eFPGA configuration. This tool quickly generates custom eFPGA IP, optimized for power, performance, and area, for nearly any foundry/process node combination. Further information on the Australis™ eFPGA IP Generator can be found on the Company's website at www.quicklogic.com/products/efpga/efpga-ip2/.
"When we introduced the Australis tool with its high degree of flexibility, we were convinced that its capabilities would result in multiple significant eFPGA design wins," said Brian Faith, president, and CEO of QuickLogic. "Now we are seeing that conviction manifested in actual results, and the pace of new wins is accelerating."
Initial revenue from this contract is expected to be recognized beginning this quarter and continue through June of 2025, with follow-on revenue expected after the contract period.
The second quarter revenue guidance range of
About QuickLogic
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops low power, multi-core semiconductor platforms and Intellectual Property (IP) for Artificial Intelligence (AI), voice and sensor processing. The solutions include embedded FPGA IP (eFPGA) for hardware acceleration and pre-processing, and heterogeneous multi-core SoCs that integrate eFPGA with other processors and peripherals. The Analytics Toolkit from our recently acquired wholly owned subsidiary, SensiML Corporation, completes the end-to-end solution with accurate sensor algorithms using AI technology. The full range of platforms, software tools and eFPGA IP enables the practical and efficient adoption of AI, voice, and sensor processing across mobile, wearable, hearable, consumer, industrial, edge and endpoint IoT. For more information, visit www.quicklogic.com and https://www.quicklogic.com/blog/.
The QuickLogic logo and QuickLogic are registered trademarks of QuickLogic Corporation. All other brands or trademarks are the property of their respective holders and should be treated as such.
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SOURCE QuickLogic Corporation
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