Download PDF

1. Company Snapshot

1.a. Company Description

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable, hearable, tablets, and the Internet-of-Things devices.It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low power field programmable gate arrays (FPGAs); and analytics toolkit, an end-to-end software suite that offers processes for developing pattern matching sensor algorithms using machine learning technology, as well as programming hardware and design software solutions.The company's products include pASIC 3, QuickRAM, QuickPCI, EOS, QuickAI, SensiML Analytics Studio, ArcticLink III, PolarPro 3, PolarPro II, PolarPro, and Eclipse II, as well as silicon platforms, IP cores, software drivers, firmware, and application software.


It delivers its solutions through ultra-low power customer programmable System on Chip (SoC) semiconductor solutions, embedded software, and algorithm solutions for always-on voice and sensor processing, and enhanced visual experiences.In addition, the company licenses FPGA technology for use in other semiconductor companies SoCs. It markets and sells its products to original equipment manufacturers and original design manufacturers through a network of sales managers and distributors in North America, Europe, and the Asia Pacific.QuickLogic Corporation was founded in 1988 and is headquartered in San Jose, California.

Show Full description

1.b. Last Insights on QUIK

Here is a 90-word analysis of the negative drivers behind QuickLogic Corporation's recent stock performance: The recent earnings release revealed a significant year-over-year decline in earnings per share, from $0.18 to $0.04, despite beating estimates. This decline may have sparked concerns about the company's ability to sustain profitability. Additionally, the medical care ratio increase may have contributed to the stock's underperformance. The lack of significant catalysts, such as new product launches or acquisitions, may have also weighed on the stock.

1.c. Company Highlights

2. QuickLogic's Q4 2025 Earnings: A Mixed Bag

QuickLogic Corporation reported a revenue of $3.7 million for Q4 2025, representing a 35% decline from Q4 2024, but an 84% increase from Q3 2025. New product revenue was $2.8 million, down 39% from Q4 2024, but up 199% from Q3 2025. The company's non-GAAP gross margin stood at 20.8%, impacted by $473,000 in inventory reserves and $135,000 in contracted professional services costs. The non-GAAP net loss was $2.9 million or $0.17 per share, missing analyst estimates of -$0.11 EPS.

Publication Date: Mar -08

📋 Highlights
  • Q4 2025 Revenue Decline and Recovery:: Revenue fell 35% YoY to $3.7M but rose 84% QoQ from Q3 2025's $2M, driven by new product revenue surging 199% QoQ to $2.8M.
  • Non-GAAP Margin Pressure:: Gross margin at 20.8% was impacted by $473K inventory reserves and $135K in professional services costs, while operating expenses hit $3.5M, exceeding guidance by $500K.
  • Q1 2026 Guidance and Costs:: Revenue expected at $5.5M (+/-10%), with 45% gross margin, but $3.2M in operating expenses and $1.4M cash burn forecasted amid $13M government contract revenue start.
  • 2026 Revenue Growth Target:: 50–100% growth projected, anchored by $4M mature business, $89M potential government contract, and defense/commercial IP wins, with cash flow breakeven in H2 2026.
  • Strategic Contract and Product Advances:: $13M U.S. government tranche recognized in Q1, SRH FPGA test chip samples received, and $2M+ potential DIB/commercial contracts in negotiation, boosting 2026 revenue outlook.

Operational Highlights

The company has made significant progress on several fronts, including being awarded a $13 million tranche for its ongoing contract with the U.S. government. QuickLogic has also internally funded the development of an SRH FPGA test chip, which has received orders for its dev kit. The company is positioning itself to address both discrete and embedded FPGA designs across the full spectrum of radiation hardness requirements. As noted by CEO Brian Faith, the company is differentiating itself from competitor Menta with its engagement model and eFPGA IP, reflected in its wins, customer base, and average selling price of over $20,000 per IP.

Guidance and Outlook

For Q1 2026, QuickLogic expects total revenue of $5.5 million, plus or minus 10%, comprised of $4.5 million in new product revenue and $1 million in mature product revenue. Non-GAAP gross margin for Q1 is expected to be approximately 45%, plus or minus 5%. The company forecasts a Q1 net loss of about $800,000, or $0.04 per share. For fiscal 2026, they expect to incur costs for 3 multi-project wafer (MPW) tape-outs, with 2 being fully covered by customer contracts and one partially covered.

Valuation and Growth Prospects

QuickLogic's current valuation metrics indicate a P/S Ratio of 10.81 and an EV/EBITDA of -19.54. Analysts estimate next year's revenue growth at 16.0%. The company's expectations of 50% to 100% revenue growth in 2026, driven by its prime U.S. government contract and other defense-related contracts, as well as commercial IP opportunities, will be crucial in determining its future valuation. The company's ability to secure new contracts and execute on its existing projects will be key to achieving its growth targets.

Cash Flow and Funding

The company raised $3.2 million in Q1 using its ATM and expects Q1 cash use to be approximately $1.4 million. QuickLogic anticipates being cash flow positive in the second half of 2026 and net income positive in the same period. The company plans to secure a new banking partner to lower costs and reduce its line of credit from $20 million to $10 million.

3. NewsRoom

Card image cap

QuickLogic (QUIK) Rises As Market Takes a Dip: Key Facts

Mar -19

Source: zacks.com

Card image cap

QuickLogic (QUIK) Advances While Market Declines: Some Information for Investors

Mar -18

Source: zacks.com

Card image cap

QuickLogic Announces Contract for High Density eFPGA Hard IP Optimized for Intel 18A

Mar -17

Source: prnewswire.com

Card image cap

Movellus Advanced Clocking IP Selected for QuickLogic's Strategic Radiation Hardened FPGA Program

Mar -09

Source: globenewswire.com

Card image cap

QuickLogic to Exhibit and Present at GOMACTech 2026

Mar -04

Source: prnewswire.com

Card image cap

QuickLogic Corporation (QUIK) Q4 2025 Earnings Call Transcript

Mar -04

Source: seekingalpha.com

Card image cap

QuickLogic (QUIK) Reports Q4 Loss, Tops Revenue Estimates

Mar -03

Source: zacks.com

Card image cap

QuickLogic Reports Fiscal Fourth Quarter and Full Year 2025 Financial Results

Mar -03

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.90%)

6. Segments

New Products - Embedded Field Programmable Gate Arrays Intellectual Property

Expected Growth: 9.03%

The 9.03% growth of New Products - Embedded Field Programmable Gate Arrays Intellectual Property from QuickLogic Corporation is driven by increasing demand for customizable and adaptable semiconductor solutions, advancements in IoT and AI applications, and the need for low-power, high-performance computing in emerging markets.

Mature Products

Expected Growth: 8.3%

Mature products from QuickLogic Corporation, with 8.3% growth, are driven by increasing demand for low-power, high-performance programmable logic solutions in established markets such as datacenter, networking, and industrial automation. Additionally, the company's focus on cost reduction, operational efficiency, and strategic partnerships contribute to its growth momentum.

New Products - Hardware Products

Expected Growth: 8.43%

QuickLogic Corporation's 8.43% growth in Hardware Products is driven by increasing demand for low-power, customizable, and programmable semiconductor solutions. The company's focus on IoT, AI, and 5G applications, as well as its strategic partnerships and expanding presence in Asia, contribute to this growth.

New Products - Software-as-a-Service & Other

Expected Growth: 14.03%

The 14.03% growth in New Products - Software-as-a-Service & Other from QuickLogic Corporation is driven by increasing adoption of IoT and AI-enabled devices, growing demand for low-power, high-performance SoCs, and expansion into new markets such as automotive and industrial automation.

7. Detailed Products

EOS S3

A low-power, multi-core processor SoC (System-on-Chip) designed for edge AI, IoT, and consumer applications

EOS S3-AI

A high-performance, low-power AI-enabled processor SoC designed for edge AI, IoT, and consumer applications

QuickAI

A hardware-based AI accelerator IP (Intellectual Property) for edge AI applications

Sensors and Sensor Processing

A range of sensor interfaces and processing solutions for IoT, industrial, and consumer applications

Display and Video Processing

A range of display and video processing solutions for IoT, industrial, and consumer applications

FPGA-based SoCs

A range of FPGA-based SoCs for IoT, industrial, and consumer applications

8. QuickLogic Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

QuickLogic Corporation's products are highly specialized and customized, making it difficult for substitutes to emerge. However, the company's reliance on a few key customers increases the threat of substitutes.

Bargaining Power Of Customers

QuickLogic Corporation's customers are large OEMs and ODMs, which gives them significant bargaining power. The company's reliance on a few key customers increases their bargaining power.

Bargaining Power Of Suppliers

QuickLogic Corporation's suppliers are primarily semiconductor foundries and packaging companies, which are numerous and competitive. This reduces their bargaining power.

Threat Of New Entrants

The barriers to entry in the semiconductor industry are high, requiring significant investments in R&D, manufacturing, and talent acquisition. This makes it difficult for new entrants to emerge.

Intensity Of Rivalry

The semiconductor industry is highly competitive, with several established players. However, QuickLogic Corporation's focus on customized, low-power, and high-performance solutions differentiates it from its competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 56.24%
Debt Cost 3.95%
Equity Weight 43.76%
Equity Cost 11.98%
WACC 7.46%
Leverage 128.49%

11. Quality Control: QuickLogic Corporation passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
inTEST

A-Score: 4.3/10

Value: 7.1

Growth: 4.4

Quality: 5.0

Yield: 0.0

Momentum: 6.0

Volatility: 3.3

1-Year Total Return ->

View Full Report
Stock-Card
Everspin Technologies

A-Score: 4.0/10

Value: 3.3

Growth: 4.2

Quality: 4.8

Yield: 0.0

Momentum: 9.0

Volatility: 3.0

1-Year Total Return ->

View Full Report
Stock-Card
QuickLogic

A-Score: 3.4/10

Value: 6.6

Growth: 5.9

Quality: 4.1

Yield: 0.0

Momentum: 2.0

Volatility: 2.0

1-Year Total Return ->

View Full Report
Stock-Card
Transphorm

A-Score: 3.4/10

Value: 6.0

Growth: 3.3

Quality: 3.1

Yield: 0.0

Momentum: 6.0

Volatility: 1.7

1-Year Total Return ->

View Full Report
Stock-Card
Alpha Omega Semi

A-Score: 2.8/10

Value: 8.4

Growth: 1.8

Quality: 3.8

Yield: 0.0

Momentum: 1.0

Volatility: 2.0

1-Year Total Return ->

View Full Report
Stock-Card
Applied Optoelectronics

A-Score: 2.5/10

Value: 6.8

Growth: 0.8

Quality: 4.4

Yield: 0.0

Momentum: 2.5

Volatility: 0.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

9.48$

Current Price

9.48$

Potential

-0.00%

Expected Cash-Flows