earnings
confidence high
sentiment positive
materiality 0.80
QuickLogic Q3 GAAP net income $1.2M; record non-GAAP net income $1.8M on revenue up 93% YoY
QUICKLOGIC Corp
2023-Q3 EPS reported
-$0.17
revenue$13,719,000
- Revenue $6.7M, up 128% QoQ and 93% YoY; new product revenue $6.1M up 171% YoY driven by $15M government eFPGA contract phase two.
- GAAP net income $0.08 diluted EPS vs ($0.11) YoY; non-GAAP net income $0.13 diluted EPS vs ($0.07) YoY.
- GAAP gross margin 76.9% vs 41.2% prior Q; non-GAAP gross margin 78.0% vs 44.2% prior Q.
- Sales funnel grew to record $162M; management reaffirms 30% full-year revenue growth and non-GAAP profitability for 2023.
- Top-tier MCU company launched private-label SensiML AI/ML; initial revenues expected in Q4.