10-Q · May 13, 2026
QuickLogic Corporation (QUIK) reported Q1 2026 revenues of $5.1 million, a 35% increase sequentially but fell short of estimates by 8.3%. The company posted a net loss of $2.2 million or ($0.08) per share, worse than…
Earnings analysis · 10-Q
QUIK earnings analysis
Filed August 12, 2026 · Our reading of the company's report
The latest report
QuickLogic delivered strong year-over-year improvement in Q2 2026, with revenue up 49% to $5.482 million, gross margin rising to 44%, and the continuing-operations loss narrowing to $0.9 million. Growth was concentrated…
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QuickLogic delivered strong year-over-year improvement in Q2 2026, with revenue up 49% to $5.482 million, gross margin rising to 44%, and the continuing-operations loss narrowing to $0.9 million. Growth was concentrated in eFPGA IP and professional services, while new-product hardware declined 21% year over year and the company remains dependent on contract timing. Six-month operating cash flow turned positive at $2.190 million, but liquidity is supported by $9.5 million of ATM equity proceeds and continued losses remain a material risk. Management expects 70%-80% full-year 2026 growth and non-GAAP profitability with positive cash flow in the second half.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.06
What stood out
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eFPGA IP Drives 49% Revenue Growth
Second-quarter continuing-operations revenue was $5.482 million, up 49% from $3.687 million year over year and 9% sequentially from approximately $5.0 million. Revenue was primarily driven by eFPGA IP and professional services, which generated $4.409 million, up 70% year over year.
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Gross Margin Expanded Sharply
Gross profit increased 152% year over year to $2.407 million from $0.954 million, while gross margin expanded to 44% from 26% and 36.5% in the prior quarter.
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Operating Loss Narrowed
Operating loss improved to 31% of revenue, or approximately $1.7 million, from 68% of revenue in the prior-year quarter and 41.9% in the prior quarter. Net loss from continuing operations narrowed to $0.9 million from $2.7 million year over year and $2.2 million sequentially.
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Operating Cash Flow Turned Positive
Six-month operating cash flow improved to $2.190 million provided, compared with $1.498 million used in the prior-year period. Investing cash use declined to $1.435 million from $3.001 million, primarily reflecting lower spending on licensed software, internal-use software, and semiconductor tooling.
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Liquidity Supports Next Twelve Months
Liquidity remained substantial at $18.5 million of cash and cash equivalents as of June 28, 2026, including a $5.0 million advance from the revolving credit facility. Management stated that cash, operating revenues, financing availability, and $9.5 million of first-half ATM proceeds should fund operations and capital expenditures for the next twelve months.
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Vendor Payable Gain Boosted Results
The company recognized a $0.950 million gain from extinguishment of a vendor payable, contributing to the improvement in reported earnings and cash-flow presentation but representing a nonrecurring benefit.
What to watch
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Losses and High Operating Cost Base
The company remains loss-making despite improvement: the six-month net loss was $3.1 million, and second-quarter operating expenses were $4.124 million, or 75% of revenue, including R&D of $1.556 million and SG&A of $2.552 million.
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Contract Timing and IP Concentration
Revenue is increasingly dependent on eFPGA IP and professional services, which generated $8.613 million, or 82% of six-month revenue, versus $0.337 million for new-product hardware. Management also attributes quarterly growth to the timing of related contracts, creating potential period-to-period volatility.
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Financing and Dilution Dependence
The company used equity financing to support liquidity, selling 903 thousand shares for approximately $9.5 million of net proceeds during the first six months. As of June 28, 2026, it also had $2.6 million of notes payable and a $5.0 million revolving-credit advance.
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Inventory Obsolescence Risk
Management identified increased inventory-obsolescence risk in non-Aerospace and Defense markets because those opportunities may have shorter product life cycles. Six-month cost of revenue included $0.3 million of inventory write-downs, and standard manufacturing lead times exceed binding customer forecasts.
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Liquidity Sensitive to Revenue Growth
Cash declined by $0.4 million from December 28, 2025, while liabilities decreased by $10.6 million, including $10.0 million of net revolving-line repayments. Longer-term liquidity depends on revenue growth and the ability to raise additional capital while maintaining lender covenant compliance.
Management's outlook
Management expects full-year 2026 revenue growth of 70%-80% and expects non-GAAP profitability and positive cash flow from operations in the second half of 2026. The filing does not provide numeric EPS or revenue-dollar guidance, and the prior outlook is not quantified for comparison.
Earlier filings 4
10-K · March 27, 2026
QuickLogic positions itself as a specialist fabless programmable-logic company focused on eFPGA IP licensing, discrete FPGA devices and tools with an emphasis on aerospace/defense and mission‑critical markets. The…
10-Q · November 12, 2025
QuickLogic reported Q3 2025 revenue of $2.029 million and a GAAP net loss of $4.007 million (diluted EPS $(0.24)), with gross loss of $0.472 million and operating loss of $3.927 million — all materially worse versus Q3…
10-Q · May 14, 2025
QuickLogic reported Q1 revenue of $4,325 (in thousands) and a GAAP net loss of $2,191 (in thousands), or diluted loss per share of $0.14. Gross profit was $1,877 (in thousands) (43.4% margin) and the company recorded an…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.