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Quicklogic Corp. (QUIK)
NASDAQ:QUIK
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QuickLogic
(NASDAQ:QUIK)
45Neutral
QuickLogic (QUIK) vs. S&P 500 (SPY)
Market Cap
$84.52M
Dividend YieldN/A
Average Volume (3M)218.90K
Price to Earnings (P/E)―
Beta (1Y)1.63
Revenue Growth-5.12%
EPS Growth-900.38%
CountryUS
Employees59
SectorTechnology
Sector Strength44
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.26
Shares Outstanding15,799,036
10 Day Avg. Volume135,315
30 Day Avg. Volume218,904
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.78
Price to Cash Flow (P/CF)-1291.50
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$12.30Price Target Upside140.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
QuickLogic Business Overview & Revenue Model
Company DescriptionQuickLogic Corporation is a semiconductor company specializing in developing low-power, multi-core semiconductor platforms and intellectual property (IP) for artificial intelligence (AI), voice and sensor processing. Operating in the technology sector, QuickLogic provides its solutions to a range of industries, including consumer electronics, industrial, and IoT (Internet of Things), focusing on enhancing performance and energy efficiency in electronic devices.
How the Company Makes MoneyQuickLogic makes money primarily through the sale of its semiconductor products and licensing of its IP. The company's revenue streams include direct sales of its silicon products, such as Field Programmable Gate Arrays (FPGAs), Application-Specific Integrated Circuits (ASICs), and System-on-Chip (SoC) solutions. Additionally, QuickLogic generates revenue by licensing its AI and voice processing IP to other companies for integration into their products. The company often collaborates with original equipment manufacturers (OEMs), technology partners, and IoT developers to embed its technology in a wide array of applications, which contributes significantly to its earnings.
QuickLogic Financial Statement Overview
Summary
QuickLogic shows revenue growth but faces profitability challenges and negative cash flow. Gross margin improvements and reduced leverage are positive signs, but ongoing net losses and cash management issues are significant risks.Income Statement
QuickLogic's revenue has shown a positive growth trajectory from 2021 to 2024, increasing from $8.63 million in 2021 to $20.11 million in 2024. However, the company has struggled with profitability, consistently reporting net losses over the years. The gross profit margin has improved, reaching 59.10% in 2024, up from 49.20% in 2021, indicating better cost management. However, the net profit margin remains negative, and EBIT margins have also been negative, though EBITDA has improved slightly in 2024.45
Neutral
Balance Sheet
The balance sheet reflects a stable equity position, with stockholders' equity increasing from $12.49 million in 2021 to $24.89 million in 2024. The debt-to-equity ratio has decreased over the years, indicating a reduction in leverage. However, the equity ratio is moderate, showing a balanced mix of debt and equity financing. Return on equity remains negative due to persistent net losses, a key area for improvement.50
Neutral
Cash Flow
QuickLogic's cash flow statement reveals challenges in generating positive free cash flow, which has been negative for several years. Operating cash flow also turned negative in 2024, highlighting cash management issues. The ratio of operating cash flow to net income is unstable due to fluctuating and negative net income levels. Improving cash generation remains critical for financial stability.30
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 20.11M | 21.20M | 16.18M | 12.69M | 8.63M | Gross Profit |
| 11.89M | 14.49M | 8.80M | 7.42M | 4.25M | EBIT |
| -3.43M | 70.00K | -3.74M | -7.52M | -10.12M | EBITDA |
| -637.67K | 2.22M | -3.31M | -5.74M | -9.96M | Net Income Common Stockholders |
| -3.84M | -263.00K | -4.27M | -6.62M | -11.15M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 21.88M | 24.61M | 19.20M | 19.61M | 22.75M | Total Assets |
| 51.93M | 47.79M | 32.59M | 28.97M | 32.89M | Total Debt |
| 21.86M | 22.39M | 16.39M | 16.71M | 18.07M | Net Debt |
| -19.00K | -2.22M | -2.81M | -2.90M | -4.67M | Total Liabilities |
| 27.05M | 30.90M | 20.69M | 19.76M | 20.40M | Stockholders Equity |
| 24.89M | 16.89M | 11.89M | 9.21M | 12.49M |
| Cash Flow | Free Cash Flow | |||
| 0.00 | -1.49M | -4.87M | -3.58M | -7.80M | Operating Cash Flow |
| 0.00 | 4.85M | -4.06M | -2.86M | -6.74M | Investing Cash Flow |
| -6.46M | -6.34M | -814.00K | -718.00K | -1.05M | Financing Cash Flow |
| 0.00 | 6.90M | 4.47M | 434.00K | 9.00M |
QuickLogic Technical Analysis
Negative
5.11
Price Trends
7.02
Negative
7.74
Negative
8.43
Negative
Market Momentum
-0.43
Negative
34.47
Neutral
14.59
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QUIK, the sentiment is Negative. The current price of 5.11 is below the 20-day moving average (MA) of 5.86, below the 50-day MA of 7.02, and below the 200-day MA of 8.43, indicating a bearish trend. The MACD of -0.43 indicates Negative momentum. The RSI at 34.47 is Neutral, neither overbought nor oversold. The STOCH value of 14.59 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QUIK.
QuickLogic Risk Analysis
QuickLogic disclosed 40 risk factors in its most recent earnings report. QuickLogic reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
QuickLogic Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $167.27B | 102.89 | 2.89% | ― | 13.69% | 91.75% | |
68 Neutral | $26.19B | 85.88 | 4.71% | 3.73% | -44.31% | -86.74% | |
64 Neutral | $7.61B | 118.72 | 8.71% | ― | -30.90% | -76.39% | |
57 Neutral | $20.97B | 10.32 | -14.01% | 2.49% | 4.46% | -23.38% | |
56 Neutral | $98.33B | ― | -18.31% | 2.20% | -2.08% | -1212.72% | |
45 Neutral | $84.52M | ― | -18.39% | ― | -5.12% | -900.38% |
* Technology Sector Average
Performance Comparison
QUIK
QuickLogic
5.11
-11.00
-68.28%
AMD
Advanced Micro Devices
102.74
-80.60
-43.96%
INTC
Intel
22.71
-21.35
-48.46%
LSCC
Lattice Semiconductor
52.45
-25.51
-32.72%
MCHP
Microchip
48.41
-39.15
-44.71%
QuickLogic Earnings Call Summary
Earnings Call Date: Feb 25, 2025 | % Change Since: -22.46% | Next Earnings Date: May 20, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook. While there were significant achievements in securing new contracts and potential growth with Intel 18A, short-term challenges such as revenue declines and reduced gross margins were highlighted. The company anticipates a strong rebound in Q2 2025 and beyond, driven by new contracts and strategic investments.Highlights
Successful eFPGA Hard IP Contracts
QuickLogic finalized a $1.1 million eFPGA Hard IP contract with a new defense industrial base customer and anticipates additional contracts in the near-term, signaling expected revenue and profitability rebound starting in Q2 2025.
Strategic Radiation Hardened FPGA Contract Expansion
Awarded the fourth tranche of the Strategic Radiation Hardened FPGA government contract valued at $6.6 million, bringing the total to $34 million, with a potential total contract value of $72 million.
Intel 18A Opportunity
QuickLogic is positioned as the only company offering eFPGA Hard IP optimized for Intel 18A, projecting significant returns from investments made in 2024.
Increased Revenue from New Products
Q4 2024 new product revenue was $4.7 million, up 32% compared to Q3 2024.
Lowlights
Q4 2024 Revenue Miss
Revenue for Q4 2024 was $5.7 million, a 24% decrease from Q4 2023, primarily due to delays in certain large eFPGA IP contracts.
Lower Q1 2025 Revenue Outlook
Expected Q1 2025 revenue is approximately $4 million, down due to delayed IP contracts, impacting short-term financial performance.
Reduced Gross Margin
Q4 2024 non-GAAP gross margin was 62%, down from 78.3% in Q4 2023, affecting profitability.
Net Income Decline
Q4 2024 non-GAAP net income was $0.6 million, a significant decrease from $2.6 million in Q4 2023.
Company Guidance
During QuickLogic Corporation's fiscal fourth quarter and full year 2024 earnings call, the company provided guidance for upcoming quarters, emphasizing a significant rebound in revenue and profitability starting in Q2 2025 after reporting Q4 2024 revenue slightly below the midpoint of their guidance due to contract delays. The company anticipates Q1 2025 revenue to be around $4 million, with approximately $3.4 million from new products and $0.6 million from mature products, leading to a non-GAAP gross margin of about 50%, plus or minus 5 percentage points. Non-GAAP operating expenses are expected to be approximately $3.2 million, with a forecasted Q1 non-GAAP net loss of approximately $1.2 million to $1.4 million, or $0.07 to $0.09 per share. QuickLogic expects solid revenue growth, non-GAAP profitability, and positive cash flow for the full year 2025, with significant contributions anticipated from new eFPGA Hard IP contracts, including a $1.1 million contract with a new defense industrial base customer and a potential seven-figure contract with another new customer.QuickLogic Corporate Events
Business Operations and StrategyFinancial Disclosures
QuickLogic Reports Q4 2024 Financial Results and Contracts
Neutral
Feb 25, 2025
On February 25, 2025, QuickLogic Corporation announced its financial results for the fiscal fourth quarter and full year ending December 29, 2024. The company reported a total revenue of $5.7 million for the fourth quarter, marking a 23.7% decrease compared to the same period in 2023, but a 33.5% increase from the previous quarter. The decline in revenue was attributed to the timing of large eFPGA IP contract awards. Despite the revenue drop, QuickLogic secured significant contracts, including a $1.1 million eFPGA Hard IP contract with a new defense customer and a $6.6 million tranche of a US Government contract. The company is optimistic about returning to revenue growth in 2025, leveraging its unique position as the sole provider of eFPGA Hard IP for Intel 18A and aiming for non-GAAP profitability and positive cash flow.
M&A TransactionsBusiness Operations and Strategy
QuickLogic Explores Strategic Options for SensiML Subsidiary
Positive
Jan 7, 2025
QuickLogic Corporation’s Board of Directors is actively exploring strategic options for its subsidiary, SensiML, including a potential sale, as the company plans to focus on strengthening its core business model centered around its successful eFPGA Hard IP and ruggedized FPGA products. This strategic shift is driven by recent achievements, such as design wins, expansions in government contracts, and changes in the competitive landscape, positioning QuickLogic to capitalize on opportunities within its programmable logic technology segment.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.