Slide 1: Q1 Fiscal 2026 Earnings Conference Call Prepared Remarks
Q1 Fiscal 2026 Earnings Conference Call Prepared Remarks Operator Ladies and gentlemen, good afternoon. At this time, I would like to welcome everyone to QuickLogic Corporation's First Quarter Fiscal 2026 Earnings Results Conference Call. As a reminder, today's call is being recorded for replay purp
Slide 2: Risk factors, non-GAAP measures and CEO opening remarks
For more detailed discussions of the risks, uncertainties and assumptions that could result in those differences, please refer to the risk factors discussed in QuickLogic's most recently filed periodic reports with the SEC. QuickLogic assumes no obligation to update any forward-looking statements or
Slide 3: RadPro FPGA and Intel 18A contracts
must show proof of U.S. Citizenship and their affiliation with a company or academia that is certified through the Joint Certification Program. RadPro is our trademarked brand for radiation-hardened FPGAs. The Test Chip we demonstrated at the HEART Conference with our RadPro Dev Kit was internally f
Slide 4: Architectural enhancements and fourth Intel 18A contract
With these architectural enhancements in place, we can address the lucrative markets that require very high-density eFPGA cores in ASIC designs and very high-density discrete FPGAs. This significantly expands our SAM for eFPGA Hard IP and discrete devices, including chiplets and a variety of Storefr
Slide 5: Idaho Scientific integration and new seven-figure contract
Since our last conference call, Idaho Scientific has been fully integrated with General Dynamics Mission Systems. We believe this integration may lead to new opportunities for QuickLogic. Last year we announced an eFPGA Hard IP contract with a new Defense Industrial Base customer valued at $1.1 mill
Slide 6: Digital Proof of Concept Chiplet program
Digital Proof of Concept Chiplet program as a strategy to move forward prior to customer commitments and with that, accelerate our Storefront Chiplet initiative. Internally, we refer to this as POC. With the support of our large strategic partners, we leveraged our existing eFPGA Hard IP and readily
Slide 7: Q1 2026 revenue, gross margin and net loss
New product revenue was up 14.2% from Q1 2025 and up 50.7% compared to Q4 2025. Mature product revenue was up 31.7% compared to the first quarter of 2025 and down 14.2% from the fourth quarter of 2025. Non-GAAP gross margin in Q1 was 39.6%. This was below our outlook of 45% plus or minus 5%. The sho
Slide 8: Q2 and full-year 2026 outlook
We expect total revenue to be comprised of $5.2 million in new product revenue and $0.8 million in mature product revenue. We anticipate an increase in mature product revenue during the second half that drives the full year total to approximately $4 million. Based on the anticipated Q2 revenue mix,
Slide 9: Q2 cash use, ATM and credit line
Excluding money raised with our ATM, we anticipate Q2 cash use of approximately $500 thousand. Inclusive of money raised with our ATM, we anticipate closing Q2 with just under $12 million in net cash. Please note that our cash use could vary based on the timing of certain payments and receipts from
Slide 10: Summation
Summation: The entire QuickLogic team has worked very hard to accomplish numerous tangible milestones that have set the stage well for 2026 and beyond. This execution, along with Strategic Investments and Strong Customer Alliances are the driving forces for the revenue growth we are forecasting to b
Slide 11: Closing remarks and questions
And I as mentioned earlier, the costs for two of these tape outs will be fully covered by customer contracts that are already on the books. We believe the third tape out will be covered at least in part by a customer contract. Our strong outlook for 2026 is based largely on the foundation we built d