Summary of QuickLogic Corporation Q2 2026 Earnings Call

1Key Financial Results and Metrics

Q2 Revenue: $5.5 million, up 48.7% year-over-year and 8.5% quarter-over-quarter.

New Product Revenue: $4.7 million, a 59.7% increase from Q2 2025, and an 8.6% increase from Q1 2026.

Mature Product Revenue: $0.8 million, up 6.9% year-over-year and 8.8% quarter-over-quarter.

Non-GAAP Gross Margin: 46.8%, exceeding the 42% outlook and significantly up from 31% in Q2 2025.

Non-GAAP Operating Expenses: Approximately $3.5 million, slightly above the $3.3 million outlook.

Net Loss: $1.1 million, or $0.06 per share, an improvement from a loss of $1.5 million in Q2 2025.

Net Cash: $13.5 million at the end of Q2, up from $3.8 million at the end of Q4 2025.

2Strategic Updates and Business Highlights

QuickLogic has narrowed its full-year revenue growth outlook to 70%-80%, expecting continued non-GAAP profitability and cash flow positive operations in the second half of 2026.

The company is focusing on new market sectors such as automotive, robotics, and commercial satellites, with anticipated growth driven by new customers and contracts.

A significant government contract with a ceiling value of $89 million is expected to contribute notably to Q4 revenue.

Development of a new 12LP evaluation kit is underway, enhancing customer evaluations and supporting future design opportunities.

QuickLogic is optimistic about securing an eFPGA IP architectural license by the end of 2026.

3Forward Guidance and Outlook

Q3 Revenue Guidance: $5.5 million ±10%, with expectations for flat revenue due to a delayed contract extension.

Q3 Non-GAAP Gross Margin: Expected to be approximately 47% ±5%.

Full-Year 2026 Guidance: Non-GAAP operating expenses raised to $13.7 million-$13.9 million, with an anticipated net loss of about $900,000 for Q3.

The company remains confident in achieving positive cash flow in the second half of 2026.

4Bad News, Challenges, or Points of Concern

A delay in finalizing a seven-figure contract extension has led to flat revenue guidance for Q3 and the removal of a commercial ASIC design from the 2026 forecast.

The transition from Intel 18A to 18A-P may cause delays in revenue recognition as customers re-evaluate their designs.

The company has not provided specific details on revenue from eFPGA licenses, which could create uncertainty regarding future earnings.

5Notable Q&A Insights

Confidence in Revenue Recognition: Management expressed confidence in meeting revenue recognition milestones despite the delays, emphasizing proactive scheduling and resource allocation.

Transition to Intel 18A-P: The shift to the newer process node is expected to be smooth, with minimal costs for existing customers, although it may cause some delays in current engagements.

Storefront Revenue Potential: There is optimism about future Storefront revenues from ongoing evaluations of RadPro Dev Kits, though specific quantification was not provided.

Interest in Post-Quantum Cryptography: QuickLogic is exploring opportunities in post-quantum cryptography, which is gaining traction in both defense and non-defense sectors, potentially leading to new revenue streams. This summary encapsulates the key aspects of QuickLogic's Q2 2026 earnings call, highlighting financial performance, strategic initiatives, future outlook, and challenges faced by the company.