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QuickLogic Reports Fiscal 2021 Second Quarter Results
SAN JOSE, Calif., Aug. 17, 2021 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a developer of ultra-low power
About this update from Quicklogic Corporation
[{"type":"text","content":"SAN JOSE, Calif., Aug. 17, 2021 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) (\"QuickLogic\" or the \"Company\"), a developer of ultra-low power multi-core voice enabled SoCs, embedded FPGA IP, and Endpoint AI solutions, today announced its financial results for the second quarter of fiscal 2021, ended July 4, 2021.\n\n \n \n \n \n \n \n\n \nRecent Highlights\nQ2 fiscal 2021 revenue of $2.9 million represents the highest since Q1 of fiscal 2019 Delivered new eFPGA IP license during the quarter Partnered with Microchip Technology, enabling SensiML tools to read sensor data from MPLAB X IDE and generate machine learning models Announced Global Distribution Agreement with Digi-Key Electronics to offer the Basic Edition of SensiML's Analytics Toolkit worldwide Developed an AI-enabled Industrial IoT solution for predictive maintenance applications with aiSensing Launched ZETA-TinyML Development Kit with Zifisense to develop smart IoT applications for embedded AI Presented at COSCUP x RubyConf Taiwan, demonstrating how easy it is to use open source tools Fiscal 2021 Second Quarter Financial Results\nTotal revenue for the second quarter of fiscal 2021 was $2.9 million, an increase of 29% compared with the first quarter of 2021, and an increase of 31% compared with the second quarter of 2020. New product revenue was approximately $1.3 million in the second quarter of 2021, an increase of 17% compared with the first quarter of 2021, and an increase of 54% compared with the second quarter of 2020. The increases were primarily due to higher revenue from our sensor processing and connectivity products. Mature product revenue was $1.6 million in the second quarter of 2021, up 39% compared with the first quarter of 2021, and up 18% compared with the second quarter of 2020.\nSecond quarter 2021 GAAP gross margin was 50.9%, compared with 51.1% in the first quarter of 2021, and 45.7% in the second quarter of 2020.\nSecond quarter 2021 non-GAAP gross margin was 51.5%, compared with 52.7% in the first quarter of 2021, and 47.1% in the second quarter of 2020.\nSecond quarter 2021 GAAP operating expenses were $3.4 million, compared with $3.8 million in the first quarter of 2021, and $3.9 million in the second quarter of 2020.\nSecond quarter 2021 non-GAAP operating expenses were $3.3 million, compared with $3.5 million in the first quarter ...