QUIK

Image source: The Motley Fool. Tuesday, Aug. 11, 2026 at 5:30 p.m. ET President and Chief Executive Officer-Brian Faith Senior Vice President and Chief Financial Officer-Elias Nader Operator: Ladies and gentlemen, good afternoon. At this time, I would like to welcome everyone to QuickLogic Corporation's second quarter fiscal 2026 earnings results conference call. As a reminder, today's call is being recorded for replay purposes. I would now like to turn the conference over to Ms. Alison Ziegler of Darrow Associates. Ms. Alison Ziegler, you may begin. Alison Ziegler: Thank you, operator, and thank you to all of you for joining us. Our speakers today are Brian Faith, President and Chief Executive Officer, and Elias Nader, Senior Vice President and Chief Financial Officer. As a reminder, some of the comments QuickLogic makes today are forward-looking statements that involve risks and uncertainties, including but not limited to statements regarding our future profitability, revenue growth and cash flows, expectations regarding our future business, and statements regarding the timing, milestones, and payments related to our government contracts, statements regarding expected contracts and the expected magnitude of such contracts, and statements regarding expected adoption rates and/or orders by our customers. 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. For more detailed discussions on the risks, uncertainties, and assumptions that could result in these differences, please refer to the risk factors discussed in QuickLogic's most recently filed periodic reports with the SEC. QuickLogic assumes no obligation to update any forward-looking statements or information, which speak as of the respective dates of any new information or future events. In today's call, we will be reporting non-GAAP financial measures. You may refer to the earnings release we issued today for a detailed reconciliation of our GAAP and non-GAAP results and other financial statements. We have also posted an updated financial table on our IR webpage that provides current and historical non-GAAP data. Please note, QuickLogic uses its website, the company blog, corporate X account, Facebook page, and LinkedIn page as channels of distribution of information about its business. Such information may be deemed material information, and QuickLogic may use these channels to comply with its disclosure obligations under Regulation FD. A copy of the prepared remarks made on today's call will be posted on QuickLogic's IR webpage shortly after the conclusion of today's earnings call. I'd now like to turn the call over to Brian Faith. Go ahead. Brian Faith: Thank you, Alison Ziegler. Good afternoon, everyone, and thank you all for joining our second quarter 2026 conference call. Since our last conference call, we have made significant progress toward achieving our 2026 goals and have narrowed our full-year growth outlook to a range of 70%-80%. With this anticipated growth, we are continuing to model non-GAAP profitability and cash flow positive operations for the second half of 2026. In addition to contributions from Storefront and RadPro, we anticipate our second half growth will be driven in part by new customers and new market sectors, including automotive, robotics, and commercial satellite applications. We also believe there is good potential to sign an eFPGA IP architectural license late this year. The short story is, 2026 is on target to be a very successful year for QuickLogic, and our accomplishments are positioning us well to continue our growth and market penetration trends in 2027 and beyond. Before I go into what has elevated our confidence in full-year 2026 revenue growth, let's take a moment to touch on what weighed on Q2 and why we will guide for flat revenue in Q3. We anticipated finalizing a seven-figure extension of an existing customer contract in late Q2. The revenue for this extension was forecasted to be recognized in Q2 and Q3. This contract extension has been delayed as the customer is reevaluating what functions it wants to put in embedded FPGA versus the functions that will be locked down in the fixed portion of its ASIC prior to finalizing the design. This delay is the sole reason why Q2 revenue was at the low end of our guidance range and we will forecast flat Q3 revenue. We remain confident in securing this contract extension, but this delay removes it from our 2026 forecast. In addition to this delayed contract extension, we are removing a commercial ASIC design targeting Intel 18A from our second half 2026 forecast. Several uncertainties involving this design arose recently, and in the best case scenario, the eFPGA hard IP contract for this ASIC will be a 2027 opportunity. While these two changes lead us to forecast flat revenue for Q3, the value of contracts and orders that we have on the books and the progress we are realizing in other areas gives us the confidence to raise the low end of our full-year outlook. At the foundation of our anticipated Q4 growth is our ongoing contract with the U.S. government, which was increased last year to a total ceiling value of $89 million. We are forecasting revenue recognition from this contract will contribute a significant percentage of total Q4 revenue. In addition to this, we have a sound base of mature product business, continued demand for RadPro Dev Kits, and ongoing IP contracts that are already on the books scheduled for Q4. Since our last conference call, we have continued to receive and deliver orders for our RadPro Dev Kit. We expect this trend to continue, and with a number of evaluations already underway, we are very optimistic that we will see initial Storefront device demand in 2027. We are continuing our work on the contracts targeting GlobalFoundries' 12LP process that we discussed in our last conference call. This includes the receipt of discrete FPGA test chips that we taped out for the contract with a $2.7 million ceiling value that we announced May 13th. Within the scope of this contract, QuickLogic will be provided test chips that we will characterize and include in a new 12LP eval kit that is scheduled to release in Q4. The eval kit will be compatible with common third-party development environments used by both DIB and commercial customers. This enables customers to accelerate evaluations of discrete and chiplet designs that we can provide as Storefront solutions. Beyond these scheduled contributions is an anticipated extension of our one million LUT contract to target Intel 18A-P and pending contracts with new customers I mentioned earlier. The majority of our development and customer design activity in Intel 18A has shifted to Intel 18A-P. Intel 18A-P is capable of delivering over 9% higher performance at isotropic power, or more than 18% lower power at isotropic performance. Given the fact we have been able to leverage the development work we completed for Intel 18A, the time and cost to develop eFPGA hard IP for Intel 18A-P will be de minimis. As a matter of fact, we anticipate receiving a follow-on contract from the customer that funded our one million LUT developments in Intel 18A for an Intel 18A-P implementation that we are targeting for Q4 delivery. We will continue working with some customers on Intel 18A designs, but we expect most will transition to Intel 18A-P, and that it will also be the focus for new design activity. We believe the release of Intel 18A-P will likely accelerate design activity, and with that, opportunities for our eFPGA hard IP. In addition to the follow-on one million LUT contract, we are working closely with several new customers on ASIC designs that target the incorporation of our eFPGA hard IP. Two of these potential contracts are in late-stage negotiations. The first is a design targeting automotive, industrial automation, and robotic applications. The second is an international customer that is developing an ASIC for a LEO satellite application. We are also working closely with a new customer that has interest in an eFPGA architectural license. Earlier this year, we were awarded a five-figure feasibility study contract to evaluate our eFPGA IP for a particular use case. We have recently completed the contract, and the customer is now investigating if a custom implementation of our IP targeting its proprietary process will meet its PPA requirements. The initial results look promising, and if successful, this will lead to an eFPGA IP architectural license late this year. As most of you are aware, QuickLogic's initial FPGA devices leveraged one-time programmable anti-fuse technology. This is the highly reliable technology used in mature products we have been supplying to defense and aerospace contractors for decades. Beyond the ongoing demand for our mature products, which have recently been designed into new programs, certain DIBs have shown an interest in our existing devices in smaller packages than we currently offer. One in particular has contracted with us to fund and qualify this smaller package for new designs. Our evaluation of this opportunity suggests it could become a new multi-million dollar market for QuickLogic that only requires a minimal ongoing operational investment. We are working closely with this DIB and are in discussions with other DIBs with and aerospace companies to fully leverage this opportunity. In 2025, we launched our digital proof of concept strategy as a very cost-effective way for both QuickLogic and prospective chiplet customers to execute evaluations. This strategy has led to more than five active proposals that include chiplets targeting GlobalFoundries 12LP, Intel 18A, and Intel 18A-P fabrication processes. The 12LP eval kit I mentioned earlier will enhance these efforts by enabling customers to rapidly move beyond software simulations to real hardware evaluations. I believe these and other proposals on the horizon will lead to meaningful chiplet revenue beginning in 2027. With that, I will turn the call over to Elias Nader for his presentation of financial data. Elias Nader: Good afternoon, everyone. Total second quarter revenue was $5.5 million. This was 48.7% from Q2 2025 and up 8.5% from Q1 2026. Due solely to a delay in the extension of an existing contract that Brian Faith previously discussed, this was below the midpoint of our guidance. New product revenue in Q2 was $4.7 million, and mature product revenue was $0.8 million. New product revenue was up 59.7% from Q2 2025 and up 8.6% compared to Q1 2026. Mature product revenue was up 6.9% compared to Q2 2025 and up 8.8% from Q1 2026. Non-GAAP gross margin in Q2 was 46.8%. This was above the midpoint of our 42% outlook and a significant increase over our reported 31% in Q2 2025 and 39.6% in Q1 2026. Non-GAAP operating expenses in Q2 were approximately $3.5 million. Due to the allocations of R&D costs between OpEx and COGS and new hires, this was slightly above our $3.3 million outlook. This compares to $2.5 million in Q2 2025 and $3.2 million in Q1 2026. Q2 2026 non-GAAP net loss was $1.1 million, or a loss of $0.06 per share. This compares to a non-GAAP net loss of $1.5 million, or a loss of $0.09 per share in Q2 2025, and a non-GAAP net loss of $1.3 million or a loss of $0.08 per share in the first quarter of fiscal 2026. The difference between our GAAP and non-GAAP results is primarily related to non-cash stock-based compensation expenses, restructuring charges, and the removal of a significant non-recurring gain. Stock-based compensation for Q2 was $753,000 compared to outlook of $900,000. Stock-based compensation was $843,000 in Q2 2025 and $858,000 in Q1 2026. Impairment charges were $0 in Q2 2026 compared with $300,000 in Q2 2025 and $0 in Q1 2026. Restructuring costs were $16,000 in Q2 2026 compared with $21,000 in Q2 2025 and $11,000 in Q1 2026. We also removed a non-recurring gain of $950,000 that was included in our GAAP results in Q2 2026. There were no non-recurring gains in Q2 2025 or Q1 2026. For the second quarter, two customers accounted for 10% or more of total revenue. At the close of Q2, excluding a $5 million drawdown from our line of credit, net cash was $13.5 million. This compares favorably with a projection of slightly less than $12 million and with the $3.8 million in net cash we reported at the close of Q4 2025. This increase of $9.7 million in net cash through the first half of fiscal 2026 is inclusive of $9.8 million raised with our ATM prior to our last conference call. Now moving to our guidance and outlook for our third fiscal quarter, which will end on September 27th, 2026. Based on backlog and customer forecast, our total revenue guidance for Q3 is $5.5 million ±10%. We expect total revenue to be comprised of $4.7 million in new product revenue and $0.8 million in mature product revenue. Earlier this year, we anticipated an increase in second-half mature revenue. However, based on current forecasts, we are now estimating full year 2026 mature revenue will be flat with 2025 at approximately $3.3 million. Based on the anticipated Q3 revenue mix, non-GAAP gross margin for the third quarter is expected to be approximately 47% ±5%. For the full year, we are modeling a non-GAAP gross profit margin of approximately 51%. Please note that given the nature of our industry, we may occasionally need to classify certain expenses to COGS versus OpEx or capitalize certain costs. These classifications are related to labor and tooling for our IP contracts. This may cause variability in our quarterly gross margins and operating expenses that will usually balance out on the operating line. With that in mind, our Q3 non-GAAP operating expense is expected to be approximately $3.6 million ±5%. Due to the variabilities in allocations of R&D costs between OpEx and COGS and new hires, we are raising our full-year outlook for non-GAAP OpEx to a range of $13.7 million-$13.9 million. The forecasted growth of approximately 17% in non-GAAP OpEx over 2025 as compared to our outlook for 70%-80% revenue growth in 2026 illustrates the strong inherent leverage of our business model. After interest and other income, we are forecasting a Q3 net loss of about $900,000 or a loss of approximately $0.05 per share. Based on our current outlook, we still anticipate non-GAAP profitability for the second half of 2026. The main difference between our GAAP and non-GAAP results is related to non-cash stock-based compensation expenses. In Q3, we expect this compensation will be approximately $900,000. This compares to $828,000 in Q3 2025 and $753,000 in Q2 2026. As a reminder, there will be movement in the stock-based compensation during the year, and it may vary quarter-to-quarter based on the timing of grants. We anticipate Q3 cash use of approximately $400,000. With this, we expect to close Q3 with a net cash balance that is slightly over $13 million. Please note that our cash use could vary based on the timing of certain payments and receipts from contracts during the quarter. Based on our current outlook, we anticipate positive cash flow during the second half of 2026. With that, thank you for your time. I will now turn the call over to Brian Faith for his closing comments. Brian Faith: Thank you, Elias Nader. 2026 is shaping up to be a very good year for QuickLogic. Based on contracts and orders we have on the books and the status of our negotiations on a couple of new contracts, we have narrowed our full-year growth outlook to 70%-80%. With this, we are modeling non-GAAP profitability and cash flow positive operations for the second half of 2026. As important as this is, I want to emphasize in parallel, we have laid the groundwork for continued growth and profitability in 2027 and beyond. Earlier this year, we forecasted three completed tape-outs in 2026. The first was completed, and we are scheduled to receive an allotment of test chips that we will incorporate in a 12LP eval kit. This will help our customers accelerate evaluations and we believe will lead to new designs that we can storefront as either discrete devices or chiplets. In addition to this, we have a number of other chiplet opportunities in the works that we believe will lead to new contracts and storefront orders beginning in late 2027. We have two more tape-outs scheduled for late 2026. In one case, we will have access to enough devices to support initial production orders that we can supply through our storefront initiative beginning in 2027. We are continuing to support demand for our RadPro eval kit and anticipate new orders through the second half of 2026. We are optimistic this will lead to initial storefront orders beginning in 2027. We are also optimistic that we will secure a contract for our second-ever eFPGA IP architectural license in 2026, and we will work closely with the end customer as it develops a device targeting its proprietary fabrication process in 2027. We have recently won two new designs for our existing mature products and have been awarded a contract to qualify a new small package option. We believe this will open a multimillion-dollar opportunity to expand into new designs beginning in 2027. With these many accomplishments, I am hopeful you can share my pride in the extraordinary execution by the QuickLogic team and my high level of optimism in our future growth. Thank you. I will now open the call for questions. Operator: Thank you. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Our first question is from Neil Young with Needham & Company. Please proceed. Neil Young: Hey, everyone. Thanks for letting me ask a question. Just looking at the rest of the year, it looks like Q4 is now carrying much of the full-year growth story. I guess, just doubling down on that, what's your confidence level on timing risk? Is any of that revenue recognition contingent on milestones or deliverables that could possibly slip past Q4 into 2027? Then I have one more. Thanks. Brian Faith: That's a great question. We meet regularly between our business and engineering teams to make sure that the technical resources are available and prioritizing the work that is related to revenue recognition. We've looked at these contracts that I was alluding to in the call and when we would need to make delivery of these items, and we are scheduling work now so that we can hit those milestones for rev rec. Now it's a matter of closing on a couple of these contracts in order to make that happen. That's more on the business side to close the contract versus the engineering side and the deliverables. To be clear, we've lined up the engineering team, and in some cases, they're already starting work on these items so that we can deliver and meet the revenue recognition expectations for the numbers that we just talked about. Neil Young: Okay, thanks. My other question, if I heard you right, you were talking about most customers are planning to transition from Intel 18A to 18A-P, and the porting cost will be de minimis given existing dev work. I guess practically, does that mean any revenue from active Intel 18A engagements could get delayed while customers are waiting to redesign for 18A-P? Or does the existing 18A work carry forward unaffected? Anything you could offer there? Thanks. Brian Faith: Yeah. We have multiple 18A opportunities that we've been discussing on these calls. We actually have a revenue stream from one of the customers that's related to the one million LUT IP contract. We are expecting, as I said on the call, that to transition to A-P. There's a couple other proposals that we have out that would still allow us to leverage the work that we've done on our 18A-P core, but they could also kick over to 18A-P. Once we've done the port the first time, doing subsequent licenses or derivative licenses off that very first port to other customers is very cost and time effective for us, meaning that we could hit the revenue targets if we get new contracts on 18A-P or customers that are moving all to 18A-P. I think we've got good coverage. It shows I think the operating leverage we have with our model and the fact that we have the automation with Australis in order to deliver for these customers in a timely fashion. I do think there's a lot of investment that has happened in the ecosystem in general around Intel 18A, not P. Some customers will, I think, make use of that perhaps if they're far down the path on a chip design before they kick over, because you can imagine that in ecosystem in general, everybody has to have certain things done on 18A-P for chip designs to move that direction. I'm talking about all the different IP that you might be integrating into that. I think, like I said, it'll be a gradual transition for some as the ecosystem matures. In some cases, if it's high digital content, we can move a lot faster like we are with our porting. Neil Young: Thank you. Brian Faith: You're welcome. Operator: Our next question is from Tyler Burmeister with Lake Street Capital Markets. Please proceed. Tyler Burmeister: Hey, guys. Good quarter. Brian Faith: Hello Tyler Burmeister: Congrats on the narrowed full year guidance there. I guess maybe first I'll go to the dev kit customers. Is there any way to quantify, I guess, how many of those you think, I guess, I think your comment was moved to Storefront revenue next year. I guess any way to quantify that or think about the number there would be great. Brian Faith: These are related to programs I'm not really allowed to talk about. What I can say is I think that people that would have a need for a strategic Rad-Hard FPGA are ones that we're engaged with. In some cases, they already have dev kits, and I do believe that we will have Storefront revenue next year related to evaluations that are going on those dev kits. As far as how many or what percent, I won't go into that. But I have high confidence that they will lead to Storefront sales next year. Tyler Burmeister: Understood. All right. Sorry to keep asking questions about programs like this. Brian Faith: That's OK. Tyler Burmeister: Maybe another way. You previously bracketed the strategic Rad-Hard opportunity in total, I think at 10 to 20 sockets across multiple programs. I am wondering if, as you have got these dev kits now in the customer's hands, you have had continued conversations with those customers. If you have maybe seen any change to that opportunity set, if that opportunity set has got larger, if these conversations maybe affirm that opportunity set up. I guess any color that you can give on maybe that would be interesting. Thanks. Brian Faith: Yeah, I guess the way I would say it is that we are engaged with more groups now than we were the last time we spoke on our Q1 call. So the opportunity set has expanded, which is a good thing, and I think that is natural as you start having real silicon and real dev kits, you start getting new opportunities that maybe were from people that were in a wait and see mode. But once they see real silicon, they start to move faster. So it is encouraging that it has expanded. That is why we inserted that comment in the script today, that we expect to see more dev kits going out even from now until the end of the year to support additional evaluations. I wish I could give more color on these things, but hopefully you understand the sensitive spot I am in with respect to non-disclosure agreements for these types of programs in particular. Tyler Burmeister: Nope, completely understand. Sorry to put you on the spot like that, but appreciate the color. That is all for me, guys. Brian Faith: Thanks, Tyler Burmeister. Operator: Our next question is from Gus Richard, Northland Capital Markets. Please proceed. Gus Richard: Yes, thanks for taking the questions. Just on the Rad-Hard contract, could you update us on how much you have left? And when do you expect the next tranche? Brian Faith: As far as how much we have left, we haven't disclosed the details of that. But I'll recap for everybody. We are currently operating and executing on the $13 million tranche. We announced that in mid-December of last year, and we have said on the call that we're forecasting it would be fully recognized during this fiscal year, 2026. We also said on the call that we expect Q4 to be a big contributor to the revenue growth. And within Q4, the government contract would be a big contributor to that. So we are forecasting that we will have another tranche in place before the end of the year, which would be supporting that. Gus Richard: Got it. Thank you. That is helpful. Brian Faith: I guess I will give. Hey, Gus Richard, let me just add one more thing to that question. I think that everybody knows that the U.S. government is a large customer for QuickLogic, so you could always look in the queue and see what 10% customers we have and the percentages of those, and you could probably derive it from that. Gus Richard: Got it. Brian Faith: To see how far. Gus Richard: On the eFPGA, I think it sounds like one contract was delayed. They are not sure what they want hard and what they want to be gate array. Do you have any sense on how much revenue you expect over the next couple of quarters from eFPGA licenses? Brian Faith: eFPGA licensing in general, so our bucket is the eFPGA support work, the NRE work that goes from the U.S. government. We do not break it down into, I guess, the level that you are asking about necessarily. But for the second half of the year, I think that overall bucket is probably close to, let me see, about $8 million-$10 million, somewhere in that range off the cuff here. I would say that for the larger IP contracts, we have a few that we are executing on right now that are already signed. I mentioned that in the script itself, that we are operating on ones we have already signed, and then we have a few that are in late-stage negotiations. By the way, we do not have to win all the ones that we are in late-stage negotiations on in order to meet the revenue growth targets that we have outlined for the year of between 70% and 80%. So that is why we are feeling good about that number and where we are with those negotiations. By the way, if I might add, Gus Richard, you brought up the extension that shifted out of 2026, and I would like to just elaborate a moment to make sure everybody is, I guess, fully aware of this. In that design, that was on one process node already, and we had made some deliveries and recognized IP collected on that design. That customer then looked at, for their applications, might wanting to go to a more advanced process node. When they go to a more advanced process node, that is why it would be an extension to a current customer and why it would kick up further revenue for QuickLogic. To some extent, I could understand why they wanted to do sort of a more detailed analysis of what should go into the eFPGA and what should go into the hard logic. Because moving to any more of these advanced process nodes, especially more than what we were already at, is going to be a very significant mass cost for them. I think they wanted to make sure they are doing their diligence from their end customer perspective before they make that call. While it is disappointing from a 2026 revenue perspective, we are confident it will go to 2027 for us. I, again, to some extent, can understand why they are being cautious about the partitioning before they would sign a contract with us. Back to you, Gus Richard. Gus Richard: Got it. Just to be clear on the eFPGA revenue, you threw out an $8 million number. Was that just for the second half, or is that for the full year? Brian Faith: Second half, but that is inclusive of what we are doing on our government side, too, because that is one bucket of revenue for us. It services the IP together. Gus Richard: Okay, got it. All right. Thanks so much. Brian Faith: You are welcome. Operator: Our next question is from Richard Shannon with Craig-Hallum Capital Group. Please proceed. Richard Shannon: Well, hi, Brian Faith, Elias Nader. Thanks for taking my questions as well. Brian Faith: Sure. Richard Shannon. Richard Shannon: Hi. How you guys doing? Let's ask what on the sales guide for the year. The midpoint's the same as you had before here, and we've had a notable contractor move out to 2027, so you must have picked up some business or at least increased confidence some other business here. Can you help us understand the dynamics that led to the midpoint that hasn't changed here? Brian Faith: Yeah. I think the biggest factor there, Richard Shannon, is that when we were outlining our range earlier, we were being conservative, or we weren't putting everything in the kitchen sink in that number we're conveying. Even though we had some movement there, that's why the midpoint stayed the same. Richard Shannon: Okay, fair enough. I want to follow up on an earlier question, I think it was from Tyler Burmeister, about Storefront for next year. I think his question was kind of looking more at the RadPro product line here, but wondering to the degree to which you're going to see Storefront revenues outside of that. Can you elaborate on product customers, applications, and any thought on the scale of the Storefront revenues for next year? Brian Faith: Yeah, it's a good question. The last call, I think, is the first time that we started talking about these multiple tape outs that we were planning for the year, the three. Of course, any Storefront revenue, it's a tangible thing. We have to have a chip to sell in order to get Storefront revenue. If we park for a moment the RadPro stuff, we have this other test chip that we're expecting to get back later this year that we've already taped out, get it on eval kits, and we already have interest from companies in that. They've seen the spec sheet. They know it's coming. And we're in some commercial discussions, in some cases, around how they could get access to those next year for stacking in multi-chip packages. I do think that if you combine that with what we're planning on RadPro, we've talked about single-digit millions of dollars for revenue next year based on all these different test chips. We still have those other two that we've talked about on this call that we're planning to be taping out by the end of the year, and we do think that if you just look at cycle times for silicon, that would also be silicon that's available next year for some level of sale. Early volume for customers. And on top of that, we didn't really give a lot of air time to it today, but there's been a large increase in the number of RFIs and RFPs and RFSs, request for information, request for proposal, request for solution, from different government channels. A significant uptick, actually, in these requests. We've been writing proposals and submitting them, and I'm hopeful at some point, there's a numbers game here, that we'll land one or more of these that would also then contribute to service revenue in the beginning, but potentially even some early device test chip revenue for Storefront by the end of next year, just based on the timelines that the U.S. government's asked for on these and how fast we can react with either current silicon or silicon that we could design fairly quickly. Does that answer your question, Richard Shannon? Richard Shannon: Yeah. That was very helpful. Maybe just a couple more from me and I'll jump out of line here. On the RadPro products here, I want to get any sort of feedback you're getting from customers who have already taken Dev Kits, and is the timeframe that you're hoping for decisions from some of those lead customers, I think you were kind of talking about end of the year, early next year sort of timeframe. Is that still holding from what you understand? Brian Faith: Yeah. Again, I can't go into specifics on what customers are saying to this, but there's been a lot of activity with those Dev Kits. There's been a lot of training that we've given, a lot of frequent interaction with those customers on the support side. Yes, I am hopeful that we're going to get some indications by the end of the year, like I said previously. Besides that, like I said, we've actually been exposed to even more groups within these customers that we weren't talking to three months ago. I think that's a good sign that this is expanding beyond the initial set of customers. Those could also use something that could result in test or purchases next year. That's a good thing. It's a good sign. It's expanding, meaning that even if we hear back by the end of the year that some are good with the part and they're going to move forward, I don't think it stops there. I think it continues to grow within these companies as they start having more engineers play with the software, play with the devices, get comfortable with it, and start identifying programs of record to insert us into. Richard Shannon: Okay. That sounds great. My last question, I will jump out of line here. Any chance you are going to tell us the percentage of sales from the 10% customers in the second quarter? Brian Faith: Please check the quarter when we file it. I am not trying to be cheesy. Richard Shannon: All right. Brian Faith: It will be in there. I do not know off the top of my head. Richard Shannon: Okay. I'll wait for that one. That is all from me, guys. Thank you. Brian Faith: Thanks, Richard Shannon. Operator: As a reminder, just star one on your telephone keypad if you would like to ask a question. Our next question is from Rick Nehan with RiverShore Investment Research. Please proceed. Rick Nehan: Thank you. Hi, Brian Faith. Hi, Elias Nader. I am not going to ask you any more questions about how sure are you about your outlook for the year. I have a kind of an off-the-wall question about post-quantum cryptography and how eFPGAs fit into that, given your little demonstration project you are running with the company out of Florida Atlantic, on that. Is that defense-related? Is that non-defense related? How does an eFPGA fit into a pre-emption for quantum computing, and what is the timeframe on that? Brian Faith: Those are great questions. I like those. The stuff that we talked about publicly with respect to post-quantum, it is not limited to just defense, but there is clearly a desire for it to go into defense. Really, you could think about anything with respect to critical infrastructure is something that is a target to be hacked. That could be a defense system, it could be a satellite communication system, it could be water systems that we have been hearing about online. Any of those are, I would say, targets that are ripe for attempted hacking. I think there was actually a presidential order that came out, certainly since last call, that talked about people should start looking at how we protect these systems with more advanced cryptography. The reason why that desire is there is because of the fear that once quantum computing is actually deployed, the conventional cryptographic systems are going to be hacked in the blink of an eye. Now they are looking at, "Well, how do I get the safety mechanisms into these systems?" Post-quantum, PQC, is something that people are looking at, and unfortunately, those algorithms are not fully stabilized yet. They are still evolving. Whenever you hear about something that is critical capability and these systems that is critical infrastructure and standards are evolving, that is the perfect scenario for FPGA or eFPGA, because with eFPGA, as we all know on the call, you can manufacture it into your silicon and program the functionality later. That is a big desire for these people that are looking at post-quantum cryptographic algorithms, because they can run that in the reprogrammable eFPGA core in their ASIC, and they can forward deploy the chips, program it later. That is a big part of the value proposition. We are seeing a lot of interest in that area now, both from defense and non-defense. Again, I think it is reinforced by the fact that the U.S. government is very sensitive in looking at this as well. That is why you started to see some collaborations on the marketing side with us and other partners, and why I think we have done a blog about it as well, because we are seeing definite interest there. Rick Nehan: Yeah, it does. Thank you for that explanation. One follow-up on that, is your relationship with PQSecure similar to the relationship you have or had at ETH Zurich when you developed the Arnold chip as kind of a demonstration project? Or is this the first step toward a commercial product? Brian Faith: Well, this is more advanced than ETH in Zurich. ETH Zurich was a research university, and they were doing a lot of research around low-power computing with eFPGA. In some ways this is similar because it's the beginning stages of a trend, right? That was low power. This is post-quantum cryptographic algorithm deployment. I think the big difference now is that these are actual companies that we're working with. It's not a research institute or university. It's much more, I would say, closer to real products and solving real problems and generating real revenue for QuickLogic versus the ETH Zurich one, which was more of a low-power proof of concept. It did generate interest, but I think what we're seeing now is there's going to be more definitive interest that's going to generate near-term revenue for us. It's a very clear, compelling use case for eFPGA. Very clear. Rick Nehan: Okay. Thank you for all that detail, Brian Faith, and thanks for having me on the call. Brian Faith: My pleasure. Thank you, Rick Nehan. Operator: There are no further questions at this time. I would like to turn the call back over to Brian Faith for closing comments. Brian Faith: Yeah, thank you for participating today. You can catch up with us tomorrow at the Canaccord Genuity Conference here in Boston. We are presenting at 2:30 P.M. Eastern, and there is a webcast available for that, for those of you that are not in Boston. We are also participating in the Needham Virtual Semiconductor & SemiCap Conference next week, the Lake Street conference in September, and the CEO summit at SEMICON West in October. Thank you again, and have a great day. Operator: Thank you. This will conclude today's conference. You may disconnect at this time, and thank you for your participation. Before you buy stock in QuickLogic, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and QuickLogic wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $419,408!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,348,694!* Now, it’s worth noting Stock Advisor’s total average return is 966% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 19, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. QuickLogic (QUIK) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in QuickLogic Corporation? Here are five stocks we like better. Second-quarter revenue rose 48.7% year over year to $5.5 million, driven by new-product growth, while non-GAAP gross margin improved to 46.8%. However, a delayed customer-contract extension kept revenue at the low end of guidance. QuickLogic expects third-quarter revenue to remain flat at approximately $5.5 million and narrowed its full-year revenue-growth outlook to 70%–80%. Management still projects non-GAAP profitability and positive cash flow in the second half of fiscal 2026. The company removed the delayed contract extension and an Intel 18A commercial ASIC design from its 2026 forecast, but highlighted potential 2027 growth from eFPGA IP contracts, RadPro and Storefront demand, and new product opportunities. QuickLogic (NASDAQ:QUIK) reported second-quarter fiscal 2026 revenue of $5.5 million, up 48.7% from the prior-year period and 8.5% sequentially, as growth in new product revenue offset a smaller mature-product business. Management said a delayed extension of an existing customer contract pushed revenue to the low end of its guidance range and will result in a flat outlook for the third quarter. President and Chief Executive Officer Brian Faith said the company has narrowed its full-year revenue growth outlook to 70% to 80%. QuickLogic continues to model non-GAAP profitability and positive cash flow for the second half of fiscal 2026, supported by government-contract activity, existing IP contracts, mature-product sales and demand for RadPro development kits. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat Faith said QuickLogic had expected to finalize a seven-figure extension of an existing customer agreement late in the second quarter, with revenue expected to be recognized across the second and third quarters. The customer is now reassessing which functions should be incorporated into embedded FPGA technology and which should be fixed in the ASIC design before completing the extension. The delay was the “sole reason” second-quarter revenue landed at the low end of guidance and why the company expects third-quarter revenue to remain flat, Faith said. While QuickLogic remains confident it can secure the extension, it has removed the opportunity from its fiscal 2026 forecast. → 3 Dividend Champion Utilities for a Market That Can't Sit Still The company also removed a commercial ASIC design targeting Intel 18A from its second-half forecast because of recently identified uncertainties. Faith said an eFPGA hard-IP contract tied to that design could become a 2027 opportunity. Despite these changes, management maintained the midpoint of its full-year growth outlook while raising the low end of the range. Faith said the outlook is supported by contracts and orders already in hand, including expected fourth-quarter contributions from the company’s U.S. government contract, which has a total ceiling value of $89 million. → Is Wingstop's Growth Story Losing Steam? New product revenue totaled $4.7 million in the second quarter, increasing 59.7% year over year and 8.6% sequentially. Mature product revenue was $800,000, up 6.9% from a year earlier and 8.8% from the first quarter. Non-GAAP gross margin was 46.8%, above the company’s 42% outlook, compared with 31% a year earlier and 39.6% in the first quarter. Non-GAAP operating expenses were about $3.5 million, compared with $2.5 million in the prior-year quarter and $3.2 million in the first quarter. Non-GAAP net loss was $1.1 million, or $0.06 per share, compared with a loss of $1.5 million, or $0.09 per share, in the second quarter of 2025. At quarter-end, net cash was $13.5 million excluding a $5 million drawdown from the company’s line of credit. Senior Vice President and Chief Financial Officer Elias Nader said the increase in net cash from $3.8 million at the end of fiscal 2025 included $9.8 million raised through the company’s at-the-market program before the prior earnings call. Two customers accounted for at least 10% of second-quarter revenue. For the fiscal third quarter ending Sept. 27, QuickLogic forecast revenue of $5.5 million, plus or minus 10%, including $4.7 million of new product revenue and $800,000 of mature product revenue. It expects non-GAAP gross margin of approximately 47%, plus or minus 5%, and non-GAAP operating expenses of roughly $3.6 million, plus or minus 5%. The company forecast a third-quarter non-GAAP net loss of about $900,000, or approximately $0.05 per share, and cash use of about $400,000. Nader said QuickLogic expects to end the quarter with net cash slightly above $13 million. Management now expects mature-product revenue for the full year to be roughly flat with 2025 at approximately $3.3 million, rather than increasing in the second half as previously anticipated. The company raised its full-year non-GAAP operating expense outlook to a range of $13.7 million to $13.9 million, while projecting a full-year non-GAAP gross margin of about 51%. QuickLogic said it has received discrete FPGA test chips developed under a GlobalFoundries 12LP contract with a $2.7 million ceiling value. The company plans to characterize the chips and incorporate them into a 12LP evaluation kit scheduled for release in the fourth quarter. Faith said the kit will be compatible with third-party development environments and is intended to support evaluations of discrete-device and chiplet Storefront solutions. The company also expects a follow-on contract related to its one-million-LUT development effort for Intel 18A, with the customer transitioning to Intel 18A-P. Faith said the prior development work should make the cost and time required for an Intel 18A-P implementation “de minimis.” Management identified two potential eFPGA hard-IP contracts in late-stage negotiations: one for automotive, industrial automation and robotics applications, and another involving an international customer developing an ASIC for a low-Earth-orbit satellite application. QuickLogic also said it sees potential to secure an eFPGA IP architectural license late this year following a completed feasibility study with another customer. Faith said RadPro development-kit evaluations have expanded to more groups within customer organizations, and the company expects initial Storefront demand in 2027. QuickLogic has also won two new designs for existing mature products and received a contract to qualify a smaller package option, which management believes could support a new multimillion-dollar opportunity beginning in 2027. QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company's products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic's technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical. Among QuickLogic's key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "QuickLogic Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Total Revenue: $5.5 million in Q2 2026, up 48.7% from Q2 2025 and up 8.5% from Q1 2026. New Product Revenue: $4.7 million in Q2, up 59.7% year-over-year and 8.6% sequentially. Mature Product Revenue: $0.8 million in Q2, up 6.9% year-over-year and 8.8% sequentially. Non-GAAP Gross Margin: 46.8% in Q2, above the midpoint of guidance and up from 31% in Q2 2025 and 39.6% in Q1 2026. Non-GAAP Operating Expenses: Approximately $3.5 million in Q2, compared to $2.5 million in Q2 2025 and $3.2 million in Q1 2026. Non-GAAP Net Loss: $1.1 million, or loss of $0.06 per share, in Q2 2026. Net Cash: $13.5 million at the close of Q2, excluding a $5 million drawdown from the line of credit. Q3 Revenue Guidance: $5.5 million, plus or minus 10%, with $4.7 million from new products and $0.8 million from mature products. Q3 Non-GAAP Gross Margin Guidance: Approximately 47%, plus or minus 5%. Q3 Non-GAAP Operating Expense Guidance: Approximately $3.6 million, plus or minus 5%. Q3 Net Loss Guidance: Approximately $900,000, or loss of approximately $0.05 per share. Full-Year Revenue Growth Outlook: Narrowed to 70% to 80% growth for 2026. Full-Year Non-GAAP Gross Margin: Modeled at approximately 51%. Full-Year Non-GAAP OpEx Outlook: Raised to a range of $13.7 million to $13.9 million. Warning! GuruFocus has detected 4 Warning Signs with QUIK. Is QUIK fairly valued? Test your thesis with our free DCF calculator. Release Date: August 11, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Narrowed full-year growth outlook to 70%-80%, with non-GAAP profitability and positive cash flow expected in H2 2026. Q2 revenue grew 48.7% year-over-year, with new product revenue up 59.7%. Non-GAAP gross margin improved significantly to 46.8% in Q2, up from 31% in Q2 2025. Strong cash position with net cash of $13.5 million, up from $3.8 million at end of 2025. Multiple growth drivers: new customers in automotive, robotics, and satellite; potential EFPGA architectural license; and expanding chiplet opportunities. Q2 revenue came in at the low end of guidance due to a delayed seven-figure contract extension, which is now removed from 2026 forecast. Q3 revenue is expected to be flat at $5.5 million, reflecting the contract delay and removal of an Intel 18A ASIC design from H2 forecast. Mature product revenue is now expected to be flat for the full year, down from earlier expectations of growth. Non-GAAP operating expenses are rising, with full-year OpEx guidance increased to $13.7-$13.9 million. The company still expects a net loss in Q3, with cash use of approximately $400,000. Q: What is the company's confidence level in meeting its Q4 revenue targets, and are there risks that revenue recognition could slip into 2027?A: Brian Faith, President and CEO, stated that the company meets regularly between business and engineering teams to ensure technical resources are available and prioritizing work related to revenue recognition. They are scheduling work now to hit milestones, and the main risk is closing contracts on the business side rather than engineering deliverables, as the engineering team is already starting work on these items to meet expectations. Q: How will the transition from Intel 18A to Intel 18AP affect existing design engagements and revenue?A: Brian Faith explained that most customers are transitioning to Intel 18AP, which offers over 9% higher performance or more than 18% lower power. The porting cost is de minimis due to leveraged development work. While some customers may delay to redesign for 18AP, the company has good coverage with multiple opportunities, and the operating leverage from automation (Astralis) allows timely delivery. The transition will be gradual as the ecosystem matures. Q: Can you quantify the expected storefront revenue from RADPRO Dev Kit customers for next year?A: Brian Faith noted that while he cannot disclose specific program details due to NDAs, he has high confidence that evaluations from RADPRO Dev Kits will lead to storefront revenue in 2027. The opportunity set has expanded since the last call, with more groups engaged, and the company expects to ship more dev kits through the end of the year to support additional evaluations. Q: What is the status of the US government contract, and how much revenue remains to be recognized?A: Brian Faith recapped that the company is executing on the $13 million tranche announced in mid-December 2025, which is forecast to be fully recognized in fiscal 2026. Q4 is expected to be a big contributor to revenue growth, with the government contract being a significant portion. The company forecasts having another tranche in place before year-end to support this. Q: What is the expected revenue from EFPGA licenses over the next couple of quarters?A: Brian Faith indicated that the EFPGA bucket, including support work and NRE from the US government, is expected to be approximately $8 million to $10 million in the second half of the year. The company has several signed contracts and a few in late-stage negotiations, and does not need to win all pending contracts to meet the 70% to 80% revenue growth target. Q: How did the company maintain its full-year guidance midpoint despite the delayed contract extension and removal of the Intel 18A design?A: Brian Faith explained that the initial guidance range was conservative and did not include all potential opportunities. Even with the movement of some contracts out of 2026, the midpoint remained unchanged because the company had not factored in every possible win, providing a buffer for such delays. Q: Can you elaborate on the scale and sources of storefront revenues expected for next year beyond RADPRO?A: Brian Faith detailed that beyond RADPRO, the company has a test chip already taped out that will be available on eval kits, with commercial discussions underway for multi-chip package stacking. Combined with two more planned tape-outs by year-end, the company expects single-digit millions in storefront revenue next year. Additionally, there has been a significant uptick in RFIs/RFPs from government channels, which could contribute to service and early device revenue. Q: What feedback are you receiving from RADPRO Dev Kit customers, and is the timeline for decisions still on track?A: Brian Faith stated that while he cannot share specifics, there has been a lot of activity, training, and interaction with customers. He is hopeful for indications by the end of the year, and the engagement has expanded to more groups within existing customers, suggesting continued growth and potential test chip purchases next year. Q: How do EFPGAs fit into post-quantum cryptography, and what is the timeframe for this opportunity?A: Brian Faith explained that post-quantum cryptography is a perfect use case for EFPGAs because algorithms are still evolving, and EFPGAs allow for reprogrammability in silicon. This is relevant for defense and critical infrastructure. The company is seeing significant interest from both defense and non-defense sectors, reinforced by government directives, and this is closer to real products and revenue generation compared to earlier research collaborations. Q: Is the relationship with PQ Secure similar to the ETH Zurich collaboration, or is it a step toward a commercial product?A: Brian Faith clarified that the PQ Secure collaboration is more advanced than the ETH Zurich research project. While ETH Zurich was a low-power proof of concept, the current work involves actual companies solving real problems, which is much closer to generating near-term revenue for QuickLogic. The post-quantum use case is very clear and compelling for EFPGA adoption. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Narrowed full-year 2026 revenue growth outlook to 70%-80%, supported by a significant $89 million ceiling value U.S. government contract and expanding design activity in automotive and robotics. Attributed Q2 revenue landing at the low end of guidance to a seven-figure contract extension delay caused by a customer re-evaluating the partitioning of functions between eFPGA and fixed ASIC logic. Shifted the majority of Intel-based development from 18A to 18A-P, citing the latter's ability to deliver 9% higher performance or 18% lower power at isotropic performance levels. Leveraged the Australis automation tool to ensure that porting eFPGA hard IP from Intel 18A to 18A-P remains de minimis in terms of time and cost, preserving operating leverage. Expanded the 'Storefront' strategy by taping out discrete FPGA test chips on GlobalFoundries 12LP, intended to accelerate customer hardware evaluations via new development kits. Identified a new multi-million dollar market opportunity for mature products by qualifying existing anti-fuse technology in smaller packaging formats requested by defense contractors. Positioned eFPGA as a critical solution for post-quantum cryptography, allowing customers to update evolving security algorithms in hardware after chips are deployed in the field. Anticipate non-GAAP profitability and positive cash flow for the second half of 2026, driven by high-margin IP contracts and government milestones. Forecast Q3 revenue to remain flat at approximately $5.5 million due to the removal of a delayed contract extension and a commercial ASIC design from the 2026 forecast. Expect meaningful 'Storefront' revenue to begin in 2027, supported by current RadPro evaluations and three scheduled tape-outs in 2026. Targeting the signing of an eFPGA IP architectural license late in 2026 following the successful completion of a feasibility study for a customer's proprietary process. Projecting full-year 2026 mature product revenue to remain flat with 2025 levels at approximately $3.3 million, despite earlier expectations for an increase. Removed a $950,000 non-recurring gain from GAAP results in Q2 2026 to reflect core operational performance in non-GAAP metrics. Raised full-year non-GAAP operating expense outlook to $13.7 million-$13.9 million due to R&D cost allocations and new hiring to support growth. Noted that Q4 revenue growth is heavily dependent on meeting specific technical milestones for the U.S. government contract and closing late-stage negotiations on new IP licenses. Management noted that while the broader ecosystem's transition to Intel 18A-P may be gradual, QuickLogic's automation tools and de minimis porting costs allow them to maintain revenue targets and deliver for customers in a timely fashion. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management confirmed that engineering resources are already prioritized to meet technical milestones for revenue recognition. Noted that meeting the 70%-80% growth target does not require winning every contract currently in late-stage negotiations, providing a buffer for the forecast. Stated that while some customers far along in design will stay on 18A, most new activity is shifting to 18A-P for its superior power and performance profile. Emphasized that QuickLogic can move faster than the general ecosystem in this transition because their porting process is highly automated. Reported an increase in the number of engaged customer groups for Rad-Hard FPGAs since Q1, moving beyond the initial 10-20 socket opportunity set. Expressed high confidence that current evaluations of RadPro development kits will translate into initial Storefront device orders in 2027. Explained that eFPGA is uniquely suited for PQC because cryptographic standards are still evolving; reprogrammability allows for hardware updates to counter future quantum threats. Confirmed active collaborations with commercial partners, moving beyond earlier university-led research into near-term revenue-generating use cases.

SAN JOSE, Calif., Aug. 11, 2026 /PRNewswire/ -- QuickLogic® Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a developer of embedded FPGA (eFPGA) Hard IP, Strategic Radiation Hardened and Antifuse FPGAs, and ruggedized programmable logic solutions, today announced its financial results for the fiscal second quarter that ended June 28, 2026. Recent Highlights Received a feasibility study contract to evaluate QuickLogic eFPGA IP for potential architectural license Received a contract to develop and qualify new packaging for QuickLogic OTP discrete FPGAs to meet new program requirements Shipped multiple RadPro™ FPGA Dev Kits, enabling customer evaluations of its U.S.-fabricated radiation-hardened FPGA Demonstrated that using its eFPGA Hard IP fabric, PQSecure's CRYSTAL-1000C post-quantum cryptographic IP core can be efficiently implemented as a reprogrammable function within SoCs Added as a member of the broad-market Russell 3000® Index and the small-cap Russell 2000® Index "We see 2026 shaping up to be a very successful year for QuickLogic," said Brian Faith, CEO of QuickLogic. "As a result, we have narrowed our full-year growth outlook to a range of 70% to 80%. With this anticipated growth, we are modeling non-GAAP profitability and cash flow positive operations for the second half of 2026." Fiscal Second Quarter 2026 Financial Results Total revenue from continuing operations for the second quarter of fiscal 2026 was $5.5 million, an increase of 48.7% compared with the second quarter of 2025 and an increase of 8.5% compared with the first quarter of 2026. New product revenue from continuing operations was approximately $4.7 million in the second quarter of 2026, an increase of $1.7 million, or 59.7%, compared with the second quarter of 2025 and an increase of $0.4 million, or 8.6%, compared with the first quarter of 2026. Mature product revenue from continuing operations was $0.8 million in the second quarter of 2026. This compares to $0.8 million in the second quarter of 2025 and $0.8 million in the first quarter of 2026. Second quarter 2026 GAAP gross margin from continuing operations was 43.9% compared with 25.9% in the second quarter of 2025 and 36.5% in the first quarter of 2026. Second quarter 2026 non-GAAP gross margin from continuing operations was 46.8% compared with 31.0% in the second quarter of 2025 and 39.6% in the first quarter of 2026. Second quarter 2026 GAAP operating expenses from continuing operations were $4.1 million compared with $3.5 million in the second quarter of 2025 and $4.0 million in the first quarter of 2026. Second quarter 2026 non-GAAP operating expenses from continuing operations were $3.5 million compared with $2.5 million in the second quarter of 2025 and $3.2 million in the first quarter of 2026. Second quarter 2026 GAAP net loss was ($0.9 million), or ($0.05) per share, compared with a net loss of ($2.7 million), or ($0.17) per share, in the second quarter of 2025, and a net loss of ($2.2 million), or ($0.13) per share, in the first quarter of 2026. Second quarter 2026 non-GAAP net loss was ($1.1 million), or ($0.06) per share, compared with a net loss of ($1.5 million), or ($0.09) per share, in the second quarter of 2025, and a net loss of ($1.3 million), or ($0.08) per share, in the first quarter of 2026. Conference Call QuickLogic will hold a conference call at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time today, August 11, 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 13761588. The call recording, which can be accessed by phone, will be archived through August 18, 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 U.S. GAAP, but believes that non-GAAP financial measures are helpful in evaluating its operating results and comparing its performance to comparable companies. Accordingly, the Company excludes certain charges related to stock-based compensation, impairment charges, and restructuring costs, as well as significant non-recurring gains, in calculating non-GAAP (i) income (loss) from operations, (ii) net income (loss), (iii) net income (loss) per share, and (iv) gross margin percentage. The Company provides this non-GAAP information to enable investors to evaluate its operating results in a manner consistent with how the Company analyzes its operating results and to provide consistency and comparability with similar companies in the Company's industry. 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 U.S. GAAP. A reconciliation of U.S. GAAP financial measures to non-GAAP financial measures is included in the financial statements portion of this press release. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of non-GAAP financial measures with their most directly comparable U.S. GAAP financial measures. 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, revenue growth, and cash flows, expectations regarding our future business and statements regarding the timing, milestones, and payments related to our government contracts, statements regarding expected contracts and the expected magnitude of such 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 U.S. Securities and Exchange Commission (the "SEC"), including the risks discussed in the "Risk Factors" section in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and in the Company's prior press releases, which are available on the Company's Investor Relations website at http://ir.quicklogic.com/ and on the SEC website at www.sec.gov/. In addition, please note that the date of this press release is August 11, 2026, and any forward-looking statements contained herein are based on management's current expectations and assumptions that we believe to be reasonable as of this date. We are not obliged to update these statements due to latest information or future events. 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 – 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/quicklogic-reports-fiscal-second-quarter-2026-financial-results-302848818.html

(Bloomberg) -- CoreWeave Inc. shares have been on a roll lately after a monthslong slump. Now, the neocloud provider’s earnings after the close Tuesday can give investors a sense of whether the rally is sustainable. Most Read from Bloomberg China Unleashes $28 Trillion Capital Markets to Challenge US in AI Nvidia Taps Wall Street for $500 Billion Funding Commitment Trump Makes Sweeping New Demands on Iran as Deal Hopes Dim Stocks Churn as Hormuz Standoff Spurs Rally in Oil: Markets Wrap Iran Shakes Up Security Team After Saying Oman Deal ‘Very Close’ The problem is, quarterly results tend to bring out the worst in the stock, which has fallen after each of the company’s last five earnings reports, according to data compiled by Bloomberg. “It almost doesn’t matter what they say on their earnings,” said Willy Lee, principal at venture firm Neostellar, which has held shares of CoreWeave since before its initial public offering. “The market’s still I think locked in on pieces of their earnings where I’m not sure if people fully understand parts of the story, and I think it’s just taken time for people to digest.” It’s been a rocky ride in the stock market for CoreWeave, which rents cloud-computing power for artificial intelligence, since going public in March 2025. The shares have been whip-lashed by the expiration of early investor lockups and shifting sentiment surrounding AI. They more than tripled in their first few months of trading, gave back a good chunk of that gain over the next few months, and have flipped between periods of steep gains and sharp losses ever since. Through it all, the stock is up 120% since the IPO and 23% this year. However it’s still down 41% from the all-time high it hit almost exactly a year ago. The latest downturn started in May after the company’s first-quarter earnings report featured a disappointing forecast that sparked concerns about slowing growth. The stock plunged 56% from a high in May to a low in July. But it has recovered almost half that loss, with a 21% jump in a single session after CoreWeave and Leidos Holdings Inc. announced they were developing AI cloud services for US defense and intelligence operations, followed by last week’s 26% gain, its best performance in over a year. After all that, the company’s earnings will offer a clearer view of where CoreWeave stands at this critical juncture. The company has been spending to build more data center capacity, and it has said that the benefits of those investments should start showing up in the second half of this year, making management’s forward guidance even more crucial than they’ve ever been. “It’s great if you can bring on capacity, but you have to make money from that,” said BNP Paribas analyst Stefan Slowinski, who has an outperform rating on the stock. “The risk is if they’re cautious on that Q3 guidance on the operating profits, then it may not answer those concerns people have. And if all of that has to come in the fourth quarter, then just like with any stock it creates risk if you’re sort of putting all of your eggs into the Q4 basket.” Wall Street expects the Livingston, New Jersey-based company to report a 111% rise in second-quarter revenue to $2.6 billion, and an adjusted net loss of $649 million compared with $131 million a year ago. Analysts have grown increasingly skeptical about this report, raising their projections for CoreWeave’s adjusted loss by 8.4% in the last month and 18% over the last three months. CoreWeave also is expected to post an adjusted operating margin of 2.9% in the second quarter. The figure will be key for investors after falling to about 1% in the first quarter. “I’m hoping that that margin was the low that we’ll see for the year, and that when they report this quarter, it’ll be up from the March trough and they guide to increases each and every quarter in margin,” said Paul Meeks of Freedom Capital Markets. “That’ll make me feel that the ding in short term property profitability is indeed behind us.” The optimism is reasonable considering the biggest AI spenders like Alphabet Inc., Meta Platforms Inc. and Microsoft Corp. are maintaining or raising their capital expenditure plans. The three companies make up roughly 80% of CoreWeave’s revenue, according to data compiled by Bloomberg. At the same time, the field is becoming increasingly competitive. Elon Musk’s SpaceX has inked a number of deals to sell AI computing power, and Meta is reportedly developing plans to do the same. Still, Wall Street remains bullish on CoreWeave due to the overwhelming demand for AI infrastructure. Of the 43 analysts tracked by Bloomberg who cover the company, 29 have buy ratings. The average price target of around $138 implies shares will climb 57% over the next 12 months. “AI infrastructure demand remains exceptionally strong and capacity largely sold out,” Citi’s Tyler Radke, who has a buy rating on the stock, wrote in an August 4 note to clients. Of course, the stock’s position — up from a recent trough but still significantly below its all-time high — also sets up a potential buying opportunity. That is, as long as CoreWeave can deliver a solid outlook that calms concerns around its return on investment and gives investors confidence that it will be able to borrow at a cheaper cost of capital and deliver profits before long. “If they can do that, then it’s kind of a self-fulfilling prophecy,” BNP Paribas’s Slowinski said. “All that has to come together to increase confidence in the company and in the business model.” Tech Chart of the Day Top Tech Stories Tencent Holdings Ltd.’s early success with WorkBuddy may give the Chinese Internet giant a chance to catch up after lagging peers in the artificial intelligence race for the past few years. Intel Corp. raised $20 billion in an upsized share sale, a third more than it was targeting when it announced the deal Monday morning. US investment giants including Apollo Global Management Inc., Blackstone Inc., BlackRock Inc. and Brookfield Asset Management are partnering with Nvidia Corp. to source $500 billion in financing for artificial intelligence infrastructure. Anthropic PBC has struck a $9.1 billion deal with Riot Platforms Inc., a Bitcoin mining company that recently began selling AI data center capacity, people familiar with the matter said, underscoring the Claude maker’s efforts to secure enough computing power to meet its customers’ demand. Apple Inc. is still planning to offer a glass-centric overhaul of the iPhone for the device’s 20th anniversary, people familiar with the matter said, countering an analyst report that the move had been canceled. Earnings Due Earnings Premarket: Earnings Postmarket: --With assistance from Subrat Patnaik and David Watkins. Most Read from Bloomberg Businessweek Lululemon Is At War With Itself Supercharged by Social Media, the GLP-1 Boom Is Warping Teen Psyches Canada Stares Down ‘Quebexit’ Risk How Apple and India Built an Alternative iPhone Production Hub The $5 Billion Cosmetics Company Behind the High-Flying Rhode Brand ©2026 Bloomberg L.P.

Nova Ltd. (NVMI) came out with quarterly earnings of $2.51 per share, beating the Zacks Consensus Estimate of $2.41 per share. This compares to earnings of $2.2 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +4.15%. A quarter ago, it was expected that this maker of monitoring systems used in chip manufacturing would post earnings of $2.2 per share when it actually produced earnings of $2.33, delivering a surprise of +5.91%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Nova Ltd., which belongs to the Zacks Electronics - Semiconductors industry, posted revenues of $254.96 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.87%. This compares to year-ago revenues of $219.99 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Nova Ltd. shares have added about 22.5% since the beginning of the year versus the S&P 500's gain of 12.8%. While Nova Ltd. has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Nova Ltd. was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.58 on $275.5 million in revenues for the coming quarter and $10.23 on $1.06 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Semiconductors is currently in the top 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, QuickLogic (QUIK), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 11. This maker of chips for mobile and portable electronics manufacturers is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +55.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. QuickLogic's revenues are expected to be $6 million, up 62.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nova Ltd. (NVMI) : Free Stock Analysis Report QuickLogic Corporation (QUIK) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in QuickLogic Corporation? Here are five stocks we like better. QuickLogic reported stronger Q1 fiscal 2026 revenue of $5.1 million, up 16.5% year over year, and said it remains on track for 50% to 100% full-year revenue growth with second-half profitability still expected. The company highlighted progress on RadPro radiation-hardened FPGA products and Intel 18A eFPGA contracts, including shipped development kits, a growing pipeline, and a potential multimillion-dollar commercial award expected in Q3. QuickLogic guided Q2 revenue to $6 million, plus or minus 10%, and expects non-GAAP profitability and positive cash flow in the second half of 2026 as storefront and chiplet opportunities expand. QuickLogic (NASDAQ:QUIK) reported higher first-quarter fiscal 2026 revenue and reiterated expectations for strong full-year growth, as management highlighted progress in radiation-hardened FPGA products, embedded FPGA intellectual property and chiplet-related opportunities. President and Chief Executive Officer Brian Faith said the company has made “significant progress” toward its goal of delivering 50% to 100% year-over-year revenue growth in 2026. He said QuickLogic continues to expect its storefront initiative and its new RadPro FPGA to contribute to anticipated revenue growth and second-half profitability. → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? Senior Vice President and Chief Financial Officer Elias Nader said first-quarter revenue was $5.1 million, up 16.5% from the prior-year period and up 35.3% from the fourth quarter of fiscal 2025. Revenue was about $450,000 below the midpoint of the company’s guidance because of a delayed contract award that was finalized after the quarter ended. Nader said new product revenue totaled $4.3 million in the quarter, up 14.2% from the first quarter of fiscal 2025 and up 50.7% sequentially. Mature product revenue was $0.8 million, up 31.7% year over year and down 14.2% from the prior quarter. → MercadoLibre Boldly Invests in Growth: Discount Deepens Non-GAAP gross margin was 39.6%, below the company’s outlook of 45%, plus or minus five percentage points. Nader attributed the shortfall to roughly $298,000 in inventory reserves. Non-GAAP operating expenses were approximately $3.3 million, compared with $3 million in the prior-year quarter and $3.5 million in the fourth quarter of fiscal 2025. QuickLogic posted a non-GAAP net loss of $1.3 million, or $0.08 per share. That compared with a non-GAAP net loss of $1.1 million, or $0.07 per share, in the first quarter of fiscal 2025, and a non-GAAP net loss of $2.8 million, or $0.17 per share, in the fourth quarter of fiscal 2025. Nader said the primary difference between GAAP and non-GAAP results was non-cash stock-based compensation. → MP Materials Is Quietly Building a Rare Earth Powerhouse At the end of the first quarter, QuickLogic had net cash of $6 million, up from $3.8 million at the end of the prior quarter. The increase included $3.2 million raised through the company’s at-the-market stock offering program during the quarter. Faith highlighted QuickLogic’s RadPro FPGA, the company’s trademarked brand for radiation-hardened FPGAs. He said QuickLogic introduced and demonstrated the RadPro FPGA and development kit at the Hardened Electronics and Radiation Technology, or HEART, Conference. The test chip shown at the conference was internally funded and independent of the company’s U.S. government contract. The RadPro test chips were fabricated on GlobalFoundries’ 12LP process, which Faith said is used by many Defense Industrial Base companies for radiation-hardened ASICs. He said the demonstration showed both the company’s discrete RadPro FPGA capabilities and its ability to support embedded FPGA, or eFPGA, requirements in radiation-hardened ASICs and systems-on-chip fabricated on the same process. Faith said meetings with Defense Industrial Base customers at HEART “went very well,” and the company has shipped multiple RadPro development kits. He said those shipments will provide a low six-figure contribution to second-quarter revenue. While he expects Defense Industrial Base customers to take until the end of 2026 to fully evaluate the new RadPro FPGA, QuickLogic has already signed a memorandum of understanding with one such customer to accelerate evaluation of a potential RadPro chiplet application. In response to an analyst question, Faith said the timing of customer evaluations aligns with the company’s targeted programs. He added that QuickLogic funded its own test chip to ensure the devices would be available within the evaluation window. Faith also discussed QuickLogic’s progress around Intel 18A technology. He said the company announced its fourth contract targeting Intel 18A in March, bringing the total value of the initial contracts to nearly $2 million. While the first contracts have been smaller, Faith said they form the framework for larger contracts the company expects to book later this year. The first two contracts were for Intel 18A test chips, and QuickLogic expects to receive its test chip allocation from the first contract later this quarter. The third contract was for a 1 million-LUT feasibility study, which Faith said led to architectural enhancements that can be used across advanced fabrication nodes. The fourth contract calls for QuickLogic to deliver hard IP for a very large Intel 18A eFPGA core supporting a customer ASIC design, with the test chip targeted for tape-out in the second half of 2026. Faith said QuickLogic anticipates a fifth mid-six-figure contract from the same customer in the second half of 2026. He also said discussions have expanded to the potential for QuickLogic to provide storefront services for a customer-designed ASIC that would include its eFPGA hard IP. Separately, Faith said QuickLogic is working closely with a large commercial customer on an Intel 18A-based contract valued at several million dollars. The company had previously expected an award in late second quarter, but Faith said the customer is evaluating a larger and more functional eFPGA core. QuickLogic now forecasts that contract award during the third quarter. For the second fiscal quarter, which ends June 28, 2026, QuickLogic guided for total revenue of $6 million, plus or minus 10%. Nader said that is expected to include $5.2 million in new product revenue and $0.8 million in mature product revenue. He also said mature product revenue is expected to increase in the second half, bringing the full-year total to approximately $4 million. QuickLogic expects second-quarter non-GAAP gross margin of approximately 42%, plus or minus five percentage points, and non-GAAP operating expenses of approximately $3.3 million, plus or minus five percentage points. For the full year, the company continues to model non-GAAP gross margin of about 57% and non-GAAP operating expenses of approximately $13.5 million. Nader forecast a second-quarter net loss of about $800,000, or approximately $0.04 per share, after interest and other income. He said the company continues to anticipate non-GAAP profitability in the second half of 2026 and positive cash flow during the same period. QuickLogic raised approximately $6.4 million in net proceeds through its existing at-the-market program during the second quarter. Nader said that, based on the current outlook, the company does not anticipate further sales under the program for the balance of fiscal 2026. Inclusive of the funds raised, QuickLogic expects to close the second quarter with just under $12 million in net cash. Faith said QuickLogic is seeing traction in chiplet markets, with proposals at various stages involving direct U.S. government, Defense Industrial Base and commercial applications. These opportunities target fabrication processes including GlobalFoundries 12LP and Intel 18A. He also said the company plans three multi-project wafer tape-outs this year for chips it intends to sell through its storefront program. The costs for two of those tape-outs are expected to be fully covered by customer contracts already on the books, while the third is expected to be covered at least in part by a customer contract. During the question-and-answer session, Faith said storefront products should resemble a traditional semiconductor device business, with QuickLogic running the supply chain and recognizing revenue and gross margin when products ship. He said the company is modeling mid-to-high 60% gross margins for such devices, which he described as more predictable than services-based revenue. Faith closed the call by saying QuickLogic’s investments in Intel 18A eFPGA hard IP and its RadPro FPGA test chip have given the company “unique positioning” and helped build customer alliances that management believes can support growth in 2026 and beyond. QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company's products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic's technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical. Among QuickLogic's key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "QuickLogic Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

This article first appeared on GuruFocus. Release Date: May 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. QuickLogic Corp (NASDAQ:QUIK) is on track to achieve 50% to 100% year-over-year revenue growth in 2026, with significant progress made in the first quarter. The introduction and demonstration of the new RadPro FPGA at the HART Conference has generated interest, leading to multiple shipments of RADPRO dev kits. QuickLogic has secured multiple contracts, including a fourth contract targeting Intel 18A technology, with a total value nearing $2 million, setting the framework for larger contracts expected later in the year. The company has a strong cash position, with net cash increasing to $6 million at the close of Q1 2026, up from $3.8 million in Q4 2025. QuickLogic anticipates non-GAAP profitability for the second half of 2026, driven by strategic investments and strong customer alliances. Revenue for Q1 2026 was $450,000 below the midpoint of guidance due to a delay in the award of a certain contract. Non-GAAP gross margin in Q1 was 39.6%, below the outlook of 45% plus or minus 5%, due to inventory reserves. The company reported a non-GAAP net loss of $1.3 million or a loss of $0.08 per share for Q1 2026. There is uncertainty regarding the timing of funding for certain contracts, which could impact future revenue recognition. QuickLogic faces intense competition and challenges in converting design opportunities into customer revenue, which could affect future growth. Warning! GuruFocus has detected 8 Warning Signs with QUIK. Is QUIK fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide assurance that the timeline for the RadPro dev kits aligns with key programs? A: Brian Faith, CEO: We've modeled these key programs from the start, and our timeline aligns well. We invested in our own test ship to ensure timely availability of dev kits, and we're seeing strong interest following the HART conference. Q: What are the next steps with customers evaluating the RadPro dev kits? A: Brian Faith, CEO: Customers will conduct functional evaluations and possibly radiation testing throughout the year. By year-end, we expect feedback on interest in integrating these into architectures, aligning with our schedule for new silicon in 2027. Q: What is the breadth of opportunities for Intel 18A technology? A: Brian Faith, CEO: We're tracking several opportunities beyond the initial customer, including both defense and commercial sectors. We aim for a commercial win this year, leveraging architectural enhancements for larger density applications. Q: How does the revenue growth profile for 2026 look, and are you leaning towards the low or high end of the 50-100% growth target? A: Brian Faith, CEO: We're on track for 50-100% growth, with Q1 and Q2 already covering 80% of last year's revenue. We're progressing well across IP, RadPro FPGA, and new proposals, with mature business expected to strengthen in the second half. Q: What factors are driving the expected increase in gross margins from the 40s to 57% for the year? A: Elias Nader, CFO: The second half will see a higher gross margin mix, with more product sales and less reliance on lower-margin professional services. We're targeting a 57% gross margin, acknowledging some variability. For the complete transcript of the earnings call, please refer to the full earnings call transcript.