QuickLogic Reports Fiscal First Quarter 2026 Financial Results
Rhea-AI Summary
QuickLogic (NASDAQ: QUIK) reported fiscal Q1 2026 revenue of $5.1 million, up 16.8% year over year and 35.3% sequentially. New product revenue was $4.3 million, while mature product revenue was $0.8 million.
GAAP gross margin was 36.5%, non-GAAP 39.6%. GAAP net loss was $2.2 million ($0.13/share); non-GAAP net loss was $1.3 million ($0.08/share). The company highlighted RadPro™ FPGA Dev Kit shipments and new contracts tied to GlobalFoundries 12LP and Intel 18A technologies.
Positive
- Total revenue $5.1M, up 16.8% YoY and 35.3% QoQ
- New product revenue $4.3M, up 14.5% YoY and 50.7% QoQ
- GAAP gross margin improved to 36.5% from 18.1% QoQ
- Non-GAAP gross margin improved to 39.6% from 20.8% QoQ
- GAAP operating expenses fell to $4.0M from $4.2M QoQ
- GAAP net loss narrowed to $2.2M from $5.9M QoQ
Negative
- GAAP gross margin declined to 36.5% from 43.4% YoY
- Non-GAAP gross margin declined to 39.6% from 45.6% YoY
- Non-GAAP operating expenses rose to $3.2M from $3.0M YoY
- Company remains loss-making with $2.2M GAAP net loss
- Non-GAAP net loss increased to $1.3M from $1.1M YoY
News Market Reaction – QUIK
In the May 13 session, QUIK gained 14.59%, reflecting a significant positive market reaction. Argus tracked a peak move of +12.0% during that session. Argus tracked a trough of -25.7% from its starting point during tracking. Our momentum scanner triggered 27 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 03 | Q4 2025 earnings | Positive | +13.0% | Q4 revenue rebound plus expanded SRH FPGA contract near $89M ceiling. |
| Nov 11 | Q3 2025 earnings | Negative | -13.3% | Sharp revenue decline, weakened margins, and wider GAAP and non-GAAP losses. |
| Aug 12 | Q2 2025 earnings | Negative | +3.1% | Revenue and margin erosion with larger net loss despite product and alliance updates. |
| May 13 | Q1 2025 earnings | Negative | -13.3% | Revenue down to $4.3M and swing to GAAP loss from prior-year profit. |
| Feb 25 | Q4 2024 earnings | Positive | +10.9% | Contract wins, improving revenue QoQ, and near break-even GAAP results with non-GAAP profit. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have typically produced sizeable moves, with share reactions mostly aligning with whether results and commentary skew positive or negative.
Across the last five earnings events from Feb 2025 to Mar 2026, QuickLogic’s results have swung between revenue contractions and sequential recoveries, alongside sizable government and eFPGA contracts. Q4 2024 and Q4 2025 featured material contract wins and drove positive price reactions, while Q3 and Q1 2025 saw sharp revenue declines and triggered double‑digit drops. The current Q1 2026 report, highlighting $5.1M in revenue and improving margins versus Q4 2025, fits into a narrative of recovery from a weak 2025 base.
Key Terms
embedded fpga technical
efpga technical
fpga technical
gaap financial
non-gaap financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Recent Highlights
- Demonstrated RadPro™ FPGA Dev Kit at the 41st Hardened Electronics and Radiation Technology (HEART) Conference
- Initial shipments now underway of its RadPro™ FPGA Dev Kit
- Secured new 7-figure contract for Test Chip to be fabricated on GlobalFoundries 12LP process
- Secured a mid-6-figure contract to implement high density architectural enhancements to its eFPGA Hard IP targeting Intel 18A technology
- Appointed Quantum Leap Solutions as an authorized sales representative for QuickLogic's IP and chiplet offerings
"Our progress in 2026 continues to leverage our investments in Intel 18A technology and our internally funded RadPro™ FPGA," said Brian Faith, CEO of QuickLogic. "With the initial shipments of our first RadPro™ Dev Kits, and other developments including our newly signed 12LP contract, our Storefront initiative is building momentum. We believe this progress and our continued execution of strategic objectives position us well to realize our growth objectives for 2026 and beyond."
Fiscal First Quarter 2026 Financial Results
Total revenue from continuing operations for the first quarter of fiscal 2026 was
New product revenue from continuing operations was approximately
Mature product revenue from continuing operations was
First quarter 2026 GAAP gross margin from continuing operations was
First quarter 2026 non-GAAP gross margin from continuing operations was
First quarter 2026 GAAP operating expenses from continuing operations were
First quarter 2026 non-GAAP operating expenses from continuing operations were
First quarter 2026 GAAP net loss was (
First quarter 2026 non-GAAP net loss was (
Conference Call
QuickLogic will hold a conference call at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time today, May 12, 2026, to discuss its current financial results. The conference call will be webcast on QuickLogic's IR Site Events Page at https://ir.quicklogic.com/ir-calendar. To join the live conference, you may dial (877) 407-0792 and international participants should dial (201) 689-8263 by 2:20 p.m. Pacific Time. No Passcode is needed to join the conference call. A recording of the call will be available approximately one hour after completion. To access the recording, please call (844) 512-2921 and reference the passcode 13760179.
The call recording, which can be accessed by phone, will be archived through May 19, 2026, and the webcast will be available for 12 months on the Company's website.
About QuickLogic
QuickLogic is a fabless semiconductor company specializing in embedded FPGA (eFPGA) Hard IP, Strategic Radiation Hardened and Antifuse FPGAs, and ruggedized programmable logic solutions. QuickLogic's unique approach combines cutting-edge technology with open-source tools to deliver highly customizable low-power solutions for aerospace and defense, industrial, computing, and consumer markets. For more information, visit www.quicklogic.com.
QuickLogic uses its website (www.quicklogic.com), the company blog (https://www.quicklogic.com/blog/), corporate X account (@QuickLogic_Corp), Facebook page (https://www.facebook.com/QuickLogic), and LinkedIn page (https://www.linkedin.com/company/13512/) as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and QuickLogic may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the Company's website and its social media accounts in addition to following the Company's press releases, SEC filings, public conference calls, and webcasts.
Non-GAAP Financial Measures
QuickLogic reports financial information in accordance with United States Generally Accepted Accounting Principles, or
Management uses the non-GAAP measures, which exclude gains, losses, and other charges that are considered by management to be outside of the Company's core operating results, internally to evaluate its operating performance against results in prior periods and its operating plans and forecasts. In addition, the non-GAAP measures are used to plan for the Company's future periods and serve as a basis for the allocation of the Company's resources, management of operations and the measurement of profit-dependent cash, and equity compensation paid to employees and executive officers.
Investors should note, however, that the non-GAAP financial measures used by QuickLogic may not be the same non-GAAP financial measures and may not be calculated in the same manner as that of other companies. QuickLogic does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures alone or as a substitute for financial information prepared in accordance with
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our future profitability and cash flows, expectations regarding our future business and statements regarding the timing, milestones, and payments related to our government contracts, statements regarding the expected magnitude of potential contracts, and statements regarding expected adoption rates and/or orders by our customers, and actual results may differ due to a variety of factors including: delays in the market acceptance of the Company's new products; the ability to convert design opportunities into customer revenue; our ability to replace revenue from end-of-life products; the level and timing of customer design activity; the market acceptance of our customers' products; the risk that new orders may not result in future revenue; our ability to introduce and produce new products based on advanced wafer technology on a timely basis; our ability to adequately market the low power, competitive pricing, and short time-to-market of our new products; intense competition by competitors; our ability to hire and retain qualified personnel; changes in product demand or supply; general economic conditions; political events, international trade disputes, natural disasters, and other business interruptions that could disrupt supply or delivery of, or demand for, the Company's products; and changes in tax rates and exposure to additional tax liabilities. These and other potential factors and uncertainties that could cause actual results to differ materially from the results contemplated or implied are described in more detail in the Company's public reports filed with the
QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.
CODE: QUIK-E
–Tables Follow –
QUICKLOGIC CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (Unaudited) | ||||||||||||
Three Months Ended | ||||||||||||
March 29, 2026 | March 30, 2025 | December 28, | ||||||||||
Revenue | $ | 5,051 | $ | 4,325 | $ | 3,733 | ||||||
Cost of revenue | 3,209 | 2,448 | 3,058 | |||||||||
Gross profit (loss) | 1,842 | 1,877 | 675 | |||||||||
Operating expenses: | ||||||||||||
Research and development | 1,512 | 1,268 | 1,436 | |||||||||
Selling, general and administrative | 2,437 | 2,536 | 2,728 | |||||||||
Restructuring costs | 11 | 54 | — | |||||||||
Total operating expense | 3,960 | 3,858 | 4,164 | |||||||||
Operating income (loss) | (2,118) | (1,981) | (3,489) | |||||||||
Interest expense | (54) | (97) | (78) | |||||||||
Interest and other (expense) income, net | (33) | (7) | — | |||||||||
Income (loss) before income taxes | (2,205) | (2,085) | (3,567) | |||||||||
(Benefit from) provision for income taxes | (3) | 5 | 13 | |||||||||
Net income (loss) from continuing operations | (2,202) | (2,090) | (3,580) | |||||||||
Net income (loss) from discontinued operations, net of taxes and | (4) | (101) | (2,368) | |||||||||
Net income (loss) | $ | (2,206) | $ | (2,191) | $ | (5,948) | ||||||
Net income (loss) from continuing operations per share: | ||||||||||||
Basic | $ | (0.13) | $ | (0.14) | $ | (0.21) | ||||||
Diluted | $ | (0.13) | $ | (0.14) | $ | (0.21) | ||||||
Net income (loss) per share: | ||||||||||||
Basic | $ | (0.13) | $ | (0.14) | $ | (0.35) | ||||||
Diluted | $ | (0.13) | $ | (0.14) | $ | (0.35) | ||||||
Weighted average shares outstanding: | ||||||||||||
Basic | 17,463 | 15,290 | 17,103 | |||||||||
Diluted | 17,463 | 15,290 | 17,103 | |||||||||
Note: Net income (loss) equals total comprehensive income (loss) for all periods presented. Additionally, the Company notes that income taxes related to discontinued operations were immaterial in nature for the periods presented and as such, only net income (loss) from discontinued operations was reported herein.
QUICKLOGIC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (Unaudited) | ||||||||
March 29, 2026 | December 28, | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash, cash equivalents and restricted cash | $ | 6,047 | $ | 18,840 | ||||
Accounts receivable | 1,723 | 2,809 | ||||||
Contract assets | 1,183 | 217 | ||||||
Inventories | 1,022 | 956 | ||||||
Prepaid expenses and other current assets | 1,206 | 1,399 | ||||||
Assets of business held for disposal, net | — | 2 | ||||||
Total current assets | 11,181 | 24,223 | ||||||
Property and equipment, net | 18,620 | 18,233 | ||||||
Capitalized internal-use software, net | 1,210 | 1,117 | ||||||
Right of use assets, net | 386 | 464 | ||||||
Intangible assets, net | 330 | 339 | ||||||
Inventories, non-current | 57 | 187 | ||||||
Other assets | 607 | 241 | ||||||
TOTAL ASSETS | $ | 32,391 | $ | 44,804 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current liabilities: | ||||||||
Revolving line of credit | $ | — | $ | 15,000 | ||||
Trade payables | 2,497 | 2,251 | ||||||
Accrued liabilities | 2,077 | 1,779 | ||||||
Deferred revenue | 78 | 64 | ||||||
Notes payable, current | 1,654 | 1,870 | ||||||
Lease liabilities, current | 331 | 321 | ||||||
Total current liabilities | 6,637 | 21,285 | ||||||
Long-term liabilities: | ||||||||
Lease liabilities, non-current | 32 | 126 | ||||||
Notes payable, non-current | 1,467 | 926 | ||||||
Total liabilities | 8,136 | 22,337 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity: | ||||||||
Preferred stock, | — | — | ||||||
Common stock, | 18 | 17 | ||||||
Additional paid-in capital | 350,655 | 346,662 | ||||||
Accumulated deficit | (326,418) | (324,212) | ||||||
Total stockholders' equity | 24,255 | 22,467 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 32,391 | $ | 44,804 | ||||
QUICKLOGIC CORPORATION SUPPLEMENTAL RECONCILIATIONS OF US GAAP AND NON-GAAP FINANCIAL MEASURES (in thousands, except per share amounts and percentages) (Unaudited) | ||||||||||||
Three Months Ended | ||||||||||||
March 29, 2026 | March 30, 2025 | December 28, | ||||||||||
US GAAP operating income (loss) | $ | (2,118) | $ | (1,981) | $ | (3,489) | ||||||
Adjustment for stock-based compensation within: | ||||||||||||
Cost of revenue | 156 | 95 | 100 | |||||||||
Research and development | 208 | 205 | 194 | |||||||||
Selling, general and administrative | 494 | 636 | 450 | |||||||||
Adjustment for restructuring costs | 11 | 54 | — | |||||||||
Non-GAAP operating income (loss) | $ | (1,249) | $ | (991) | $ | (2,745) | ||||||
US GAAP net income (loss) from continuing operations | $ | (2,202) | $ | (2,090) | $ | (3,580) | ||||||
Adjustment for stock-based compensation within: | ||||||||||||
Cost of revenue | 156 | 95 | 100 | |||||||||
Research and development | 208 | 205 | 194 | |||||||||
Selling, general and administrative | 494 | 636 | 450 | |||||||||
Adjustment for restructuring costs | 11 | 54 | — | |||||||||
Non-GAAP net income (loss) from continuing operations | $ | (1,333) | $ | (1,100) | $ | (2,836) | ||||||
US GAAP net income (loss) from discontinued operations | $ | (4) | $ | (101) | $ | (2,368) | ||||||
Adjustment for stock-based compensation within: | ||||||||||||
Research and development | — | (32) | — | |||||||||
Adjustment for impairment charges | — | — | 2,355 | |||||||||
Adjustment for restructuring costs | — | 87 | — | |||||||||
Non-GAAP net income (loss) from discontinued operations | $ | (4) | $ | (46) | $ | (13) | ||||||
Non-GAAP net income (loss) | $ | (1,337) | $ | (1,146) | $ | (2,849) | ||||||
US GAAP net income (loss) from continuing operations per share, | $ | (0.13) | $ | (0.14) | $ | (0.21) | ||||||
Adjustment for stock-based compensation | 0.05 | 0.06 | 0.04 | |||||||||
Adjustment for restructuring costs | — | 0.01 | — | |||||||||
Non-GAAP net income (loss) from continuing operations per share, | $ | (0.08) | $ | (0.07) | $ | (0.17) | ||||||
US GAAP net income (loss) from discontinued operations per share, | $ | — | $ | (0.01) | $ | (0.14) | ||||||
Adjustment for stock-based compensation | — | — | — | |||||||||
Adjustment for impairment charges | — | — | 0.14 | |||||||||
Adjustment for restructuring costs | — | 0.01 | — | |||||||||
Non-GAAP net income (loss) from discontinued operations per | $ | — | $ | — | $ | — | ||||||
Non-GAAP net income (loss) per share, basic | $ | (0.08) | $ | (0.07) | $ | (0.17) | ||||||
US GAAP net income (loss) from continuing operations per share, | $ | (0.13) | $ | (0.14) | $ | (0.21) | ||||||
Adjustment for stock-based compensation | 0.05 | 0.06 | 0.04 | |||||||||
Adjustment for restructuring costs | — | 0.01 | — | |||||||||
Non-GAAP net income (loss) from continuing operations per share, | $ | (0.08) | $ | (0.07) | $ | (0.17) | ||||||
US GAAP net income (loss) from discontinued operations per share, | $ | — | $ | (0.01) | $ | (0.14) | ||||||
Adjustment for stock-based compensation | — | — | — | |||||||||
Adjustment for impairment charges | — | — | 0.14 | |||||||||
Adjustment for restructuring costs | — | 0.01 | — | |||||||||
Non-GAAP net income (loss) from discontinued operations per | $ | — | $ | — | $ | — | ||||||
Non-GAAP net income (loss) per share, diluted | $ | (0.08) | $ | (0.07) | $ | (0.17) | ||||||
US GAAP gross margin percentage from continuing operations | 36.5 | % | 43.4 | % | 18.1 | % | ||||||
Adjustment for stock-based compensation included in cost of revenue | 3.1 | % | 2.2 | % | 2.7 | % | ||||||
Non-GAAP gross margin percentage from continuing operations | 39.6 | % | 45.6 | % | 20.8 | % | ||||||
QUICKLOGIC CORPORATION SUPPLEMENTAL DATA (Unaudited) | ||||||||||||||||||||
Percentage of Revenue | Change in Revenue | |||||||||||||||||||
Q1 2026 | Q1 2025 | Q4 2025 | Q1 2026 to | Q1 2026 to | ||||||||||||||||
COMPOSITION OF REVENUE | ||||||||||||||||||||
Revenue by product: (1) | ||||||||||||||||||||
New products | 85 | % | 87 | % | 76 | % | 15 | % | 51 | % | ||||||||||
Mature products | 15 | % | 13 | % | 24 | % | 32 | % | (14) | % | ||||||||||
Discontinued Operations: | ||||||||||||||||||||
New products | — | % | — | % | — | % | (100) | % | — | % | ||||||||||
Revenue by geography: | ||||||||||||||||||||
10 | % | 8 | % | 10 | % | 37 | % | 35 | % | |||||||||||
88 | % | 90 | % | 81 | % | 15 | % | 48 | % | |||||||||||
2 | % | 2 | % | 9 | % | 9 | % | (75) | % | |||||||||||
Discontinued Operations: | ||||||||||||||||||||
— | % | — | % | — | % | (100) | % | — | % | |||||||||||
— | % | — | % | — | % | (100) | % | — | % | |||||||||||
— | % | — | % | — | % | (100) | % | — | % | |||||||||||
_____________________ | ||
(1) | New products include all products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP and related professional services, and SensiML AI software as a service (SaaS) revenue. Mature products include all products produced on semiconductor processes larger than 180 nanometer. Associated royalty revenues are included within their respective device's classification. | |
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SOURCE QuickLogic Corporation