QuickLogic Q1 FY2022 revenue $4.1M (+83% YoY); net loss narrows to $1.2M

QUICKLOGIC Corp

Revenue $4.1M, up 83% YoY; new product revenue $3.5M (+221% YoY) driven by eFPGA IP and smart connectivity.
GAAP net loss $1.2M ($0.10/sh) improved from $1.7M ($0.15/sh) in Q1 2021; non-GAAP net loss $0.8M ($0.06/sh).
GAAP gross margin 60.1% vs 51.1% YoY; non-GAAP gross margin 61.5% vs 52.7% YoY.
Announced two new eFPGA contracts totaling ~$2.5M and appointed Owen Bateman as VP of Worldwide Sales.
Partnership with SkyWater Technology for rad-hard eFPGA IP on RH90 process.

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