QuickLogic Q1 revenue $6.0M (+45% YoY); GAAP net income turns positive at $0.01/share

QUICKLOGIC Corp

2023-Q1 EPS reported $0.01 revenue$6,007,000

Revenue $6.0M (+45% YoY); new product revenue $4.9M (+59.6% YoY).
GAAP net income $0.1M ($0.01/sh) vs loss $1.2M YoY; non-GAAP net income $1.7M ($0.12/sh).
GAAP gross margin 66.3% (vs 57.8% YoY); non-GAAP gross margin 70.3% (vs 59.7% YoY).
Reaffirmed 30%+ revenue growth target for 2024; sales funnel at record $179M.
Signed two eFPGA IP contracts for 12nm nodes; SensiML secured six-figure license with major MCU.

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 1.0

QUICKLOGIC Corp reported the fiscal first quarter ended March 31, 2024 results: revenue $6.0 million, net income $0.1 million, EPS $0.01 per basic and diluted share.

Period: the fiscal first quarter ended March 31, 2024
Revenue: $6.0 million
Net income: $0.1 million
EPS: $0.01 per basic and diluted share
Result: reported results

Exact text from the filing

the expansion of SensiML's business model to include open-source licensing." Fiscal First Quarter 2024 Financial Results Total revenue for the first quarter of fiscal 2024 was $6.0 million, an increase of 45.3% compared with the first quarter of 2023 and a decrease of 19.7% compared with the fourth quarter of 2023. New product revenue was approximately $4.9 million

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Source: SEC EDGAR

accession 0001437749-24-016233

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