QuickLogic Q3 FY2022 revenue $3.5M (-10% YoY); net loss $0.11/share; secures $6.9M gov't contract

QUICKLOGIC Corp

2023-Q3 EPS reported -$0.24 revenue$12,096,000

Total revenue $3.5M, down 10.3% YoY and 23.8% QoQ; new product revenue $2.3M (-18% YoY).
GAAP net loss $1.3M ($0.11/share) vs. net loss $1.3M ($0.11/share) in Q3 FY2021.
Non-GAAP net loss $0.9M ($0.07/share); GAAP gross margin fell to 48.5% from 70.8% a year ago.
Signed $6.9M government eFPGA contract in August 2022; potential expansion to additional $72M over 4 years.
Raised ~$3.2M from institutional investors during the quarter.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

QUICKLOGIC Corp reported third quarter of fiscal 2022 ended October 2, 2022 results: revenue $3.5 million, net income $1.3 million, EPS $0.11 per share.

Period: third quarter of fiscal 2022 ended October 2, 2022
Revenue: $3.5 million
Net income: $1.3 million
EPS: $0.11 per share
Result: reported results

Exact text from the filing

Total revenue for the third quarter of fiscal 2022 was $3.5 million, a decrease of 23.8% compared with the second quarter of 2022, and a decrease of 10.3% compared with the third quarter of 2021 . New product revenue was approximately $2.3 million in the third quarter of 2022 , a decrease of $0.9 million , or 28.1% , compared with the second quarter of 2022, and a decrease of $0.5 million , or 18.3% , compared with the third quarter of 2021 . The decrease in new product revenue from the same period a year ago was primarily due to a reduction in smart connectivity and sensor product revenues offset by higher eFPGA IP license and professional services revenues. Additionally, signing the aforementioned $6.9 million government contract later in the quarter delayed some of the revenue to subsequent quarters. Mature product revenue was $1.2 million in the third quarter of 2022 , a decrease of 14.4% compared with the second quarter of 2022, and an increase of 9.7% compared with the third quar

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Source: SEC EDGAR

accession 0001437749-22-027461

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