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QuickLogic Reports 41% Year-over-Year Revenue Growth for Second Quarter Fiscal 2024
SAN JOSE, Calif., Aug. 13, 2024 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a developer of embedded FPGA (eFPGA)
About this update from Quicklogic Corporation
[{"type":"text","content":"SAN JOSE, Calif., Aug. 13, 2024 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) (\"QuickLogic\" or the \"Company\"), a developer of embedded FPGA (eFPGA) IP, ruggedized FPGAs and Endpoint AI solutions, today announced its financial results for the fiscal second quarter that ended June 30, 2024.\n\n \n \n \n \n \n \n\n \nRecent Highlights\nAwarded $5.26 million third tranche of the Strategic Radiation Hardened FPGA Technology US Government ContractJoined Intel Foundry Accelerator IP and USMAG Alliance Programs to deliver customer-definable eFPGA Hard IP cores optimized for the Intel 18A process nodeReceived a BAE Systems 'Partner 2 Win' Supplier of the Year award in the category of \"FAST Labs™ Technology Innovation Partner of the Year\"Grew the sales funnel to $189 millionAnnounced new distribution agreement with Spur Microwave Inc. to strengthen presence across the growing India marketAnnounced new distribution agreement with Astute Electronics to expand global reach, supporting customers across Europe, as well as in Australia, Israel, Turkey, and New ZealandEntered into a strategic partnership with CTG to enhance our aerospace and defense supply chain capabilities and to deliver custom solutions, cost savings, and efficiency for Aerospace and DefenseSensiML launched its open-source initiative Piccolo AI™, the first open-source AutoML solution for IoT edge AISensiML released a new Generative AI feature to enhance Data Studio, enabling embedded device developers to utilize text-to-speech (\"TTS\") and AI voice generation\"QuickLogic's inclusion in Intel Foundry Accelerator IP and USMAG Alliances marked a significant milestone in the Company's strategic growth plan, and we believe this will position QuickLogic as a leading source for eFPGA Hard IP available for Intel 18A technology,\" said Brian Faith, CEO of QuickLogic. \"In addition to this, we are on schedule to deliver customer-specific eFPGA Hard IP for multiple 12nm designs by the close of 2024 that will be fabricated by two different foundries and execute on the Strategic Radiation Hardened FPGA program for the U.S. Department of Defense.\"\nFiscal Second Quarter 2024 Financial Results\nTotal revenue for the second quarter of fiscal 2024 was $4.1 million, an increase of 41.3% compared with the second quarter of 2023 and a decrease of 31.3% compared with the first qua...