QUIK · QuickLogic Corporation

QuickLogic's Q1 2026 results showed revenue growth to $5.1 million, driven primarily by new products at $4.3 million, reflecting 14.5% YoY and strong 50.7% sequential increases, while mature products contributed $0.8 million. Gross margins contracted on a GAAP basis to 36.5% from 43.4% YoY, due to a higher mix of lower-margin new products and likely increased cost of revenue at $3.2 million versus $2.4 million last year. Non-GAAP gross margin was 39.6%. Operating expenses rose modestly to $4.0 million GAAP, with non-GAAP at $3.2 million, reflecting ongoing investments in R&D ($1.5 million) and SG&A ($2.4 million). The GAAP net loss held steady at $2.2 million year-over-year but improved significantly from Q4 2025's $5.9 million total loss, aided by revenue momentum and expense control. CEO Brian Faith highlighted momentum in RadPro™ FPGA dev kits with initial shipments, a new 7-figure GlobalFoundries 12LP test chip contract, and a mid-6-figure Intel 18A eFPGA enhancement deal, plus Quantum Leap Solutions as a sales rep. Balance sheet shows cash down to $6.0 million from $18.8 million at year-end, with revolving credit repaid to zero from $15 million, indicating improved liquidity management. No forward guidance provided, but management expressed confidence in 2026 growth objectives via Storefront initiative and strategic tech investments.