Quicklogic Q4 2024 Earnings Report
Key Takeaways
QuickLogic's total revenue for Q4 2024 was $5.7 million, a decrease of 23.7% compared to Q4 2023, but an increase of 33.5% compared to Q3 2024. The company reported a GAAP net loss of $0.3 million, or ($0.02) per share, while non-GAAP net income was $0.6 million, or $0.04 per share.
Awarded $1.1 million eFPGA Hard IP contract with new defense industrial base customer.
Announced $6.6 million fourth tranche of the Strategic Radiation Hardened FPGA Technology US Government contract.
Total revenue for the fourth quarter of fiscal 2024 was $5.7 million, a decrease of 23.7% compared with the fourth quarter of 2023 and an increase of 33.5% compared with the third quarter of 2024.
New product revenue was approximately $4.7 million in the fourth quarter of 2024, a decrease of $2.2 million, or 31.8%, compared with the fourth quarter of 2023 and an increase of $1.1 million, or 31.7%, compared with the third quarter of 2024.
Quicklogic
Quicklogic
Quicklogic Revenue by Segment
Forward Guidance
QuickLogic anticipates sound revenue growth in 2025 and aims to achieve non-GAAP profitability and positive cash flow for the full year.
Positive Outlook
- Continued execution on the Strategic Radiation Hardened FPGA contract with the US government
- Influx of opportunities after a key competitor exited the market
- Being the first, and at this time, only company to offer eFPGA Hard IP for Intel 18A
- Ability to leverage the eFPGA Hard IP established for six unique fabrication processes
- Reuse of Hard IP Cores in our library