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QuickLogic Corporation (QUIK+0.90%) has filed its Form 10-K filing for the fiscal year ended December 29, 2024.
The filing reports total revenue of $20.1 million, a decrease from $21.2 million in the previous year. The decrease was primarily due to a reduction in eFPGA IP revenue, which was partially offset by an increase in mature product revenue.
Gross profit for the year was $11.9 million, down from $14.5 million in the previous year, with a gross margin of 59% compared to 68% in the prior year.
Operating expenses increased to $15.3 million from $14.4 million in the previous year, primarily due to higher selling, general, and administrative expenses.
The company reported a net loss of $3.8 million, compared to a net loss of $0.3 million in the previous year.
QuickLogic's cash and cash equivalents were $21.9 million as of December 29, 2024, with $18 million drawn from its revolving credit facility.
The company continues to focus on its new product offerings, including eFPGA IP licenses, professional services, and AI/ML software, as key drivers for future growth.
QuickLogic's management believes that existing cash resources, along with the revolving credit facility, will be sufficient to fund operations over the next twelve months.
The company has identified a number of risks, including competition in the semiconductor industry, reliance on a limited number of customers, and potential supply chain disruptions.
QuickLogic plans to continue investing in research and development to support its growth strategy and maintain competitiveness in its target markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the QuickLogic Corporation annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.