QuickLogic FY2022 revenue $16.2M (+28% YoY); new product revenue up 50% to $11.7M

Total revenue for the fourth quarter of 2022 was $4.1 million, an increase of 18.1% compared with the third quarter of 2022, and an increase of 10.2% compared with the fourth quarter of 2021. New product revenue was approximately $2.8 million in the fourth quarter of 2022, an increase of $0.6 million, or 26.2%, compared with the third quarter of 2022, and an increase of $0.2 million, or 6.6%, compared with the fourth quarter of 2021. The increase in new product revenue from the same period a year ago was primarily due to increased eFPGA professional services revenue partially offset by decreases in sensor, smart connectivity, and display product revenues. The previously announced $6.9 million government contract contributed to revenue growth in the quarter and will further contribute to revenue growth into 2023. Mature product revenue was $1.2 million in both the fourth quarter and the third quarter of 2022. Mature product revenue in the fourth quarter of 2022 increased 19.5% compared

Total revenue for fiscal year 2022 was $16.2 million, compared with $12.7 million in fiscal year 2021, representing an approximately 28% increase. New product revenue was $11.7 million, increasing 50% from $7.8 million in the prior year. Mature product revenue was $4.5 million, decreasing from $4.9 million in fiscal year 2021. Fiscal year 2022 GAAP gross margin was 54.4%, compared with 58.5% in fiscal year 2021. Non-GAAP gross margin for fiscal year 2022 was 56.1%, compared with 60.7% in fiscal year 2021. GAAP operating expenses for fiscal year 2022 were $12.6 million, compared with $14.9 million in fiscal year 2021. Non-GAAP operating expenses for fiscal year 2022 were $10.8 million, down from $12.7 million in fiscal year 2021. GAAP net loss for fiscal year 2022 was $4.3 million, or $0.34 per share.