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Dec 29, 2024
Quicklogic Q4 2024 Earnings Report
QuickLogic reported its fiscal fourth quarter and full year 2024 financial results, showing a decrease in total revenue compared to the previous year's fourth quarter but an increase compared to the third quarter of 2024.
Key Takeaways
QuickLogic's total revenue for the fourth quarter of fiscal 2024 was $5.7 million, a decrease of 23.7% compared to the fourth quarter of 2023, but an increase of 33.5% compared to the third quarter of 2024. The company reported a GAAP net loss of ($0.3 million) and a non-GAAP net income of $0.6 million for the quarter.
Total revenue for Q4 2024 was $5.7 million, a 23.7% decrease year-over-year but a 33.5% increase quarter-over-quarter.
New product revenue was $4.7 million, down 31.8% from Q4 2023 but up 31.7% from Q3 2024.
GAAP net loss for Q4 2024 was ($0.3 million), or ($0.02) per share, compared to net income of $2.0 million in Q4 2023.
Non-GAAP net income for Q4 2024 was $0.6 million, or $0.04 per share, compared to net income of $2.6 million in Q4 2023.
Quicklogic
Quicklogic
Quicklogic Revenue by Segment
Quicklogic Revenue by Geographic Location
Revenue by Segment
New Products Revenue
CapyFin.comMature Products Revenue
CapyFin.comRevenue by Geographic Location
Asia Pacific Revenue
CapyFin.comNorth America Revenue
CapyFin.comEurope Revenue
CapyFin.com Forward Guidance
QuickLogic anticipates returning to sound revenue growth and achieving non-GAAP profitability and positive cash flow in full-year 2025, driven by continued execution on the Strategic Radiation Hardened FPGA contract and new opportunities in the eFPGA Hard IP market.
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.
- First and only company to offer eFPGA Hard IP for Intel 18A.
- Leveraging established eFPGA Hard IP for six unique fabrication processes and reusable Hard IP Cores.
- Positioned to achieve non-GAAP profitability and positive cash flow for full-year 2025.
Challenges Ahead
- Delays in market acceptance of new products.
- Ability to convert design opportunities into customer revenue.
- Ability to replace revenue from end-of-life products.
- Level and timing of customer design activity.
- Market acceptance of customers' products.
Revenue & Expenses
Visualization of income flow from segment revenue to net income