Fiscal Second Quarter 2026
Filed Aug 11, 2026QuickLogic Reports Fiscal Second Quarter 2026 Financial Results
Revenue from continuing operations increased 48.7% year over year and 8.5% sequentially, while GAAP and non-GAAP gross margins improved materially. Losses narrowed from the prior-year and prior-quarter periods, and management narrowed its full-year growth outlook to 70% to 80%, although the company remained loss-making in the quarter.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $5,482 (in thousands) | 8.5% | 48.7% |
| Cost of revenueGAAP | $3,075 (in thousands) | – | – |
| Gross profitGAAP | $2,407 (in thousands) | – | – |
| Gross margin from continuing operationsGAAP | 43.9% | – | – |
| Gross margin from continuing operationsnon-GAAP | 46.8% | – | – |
| Research and development expenseGAAP | $1,556 (in thousands) | – | – |
| Selling, general and administrative expenseGAAP | $2,552 (in thousands) | – | – |
| Impairment chargesGAAP | — | – | – |
| Restructuring costsGAAP | $16 (in thousands) | – | – |
| Total operating expenseGAAP | $4,124 (in thousands) | – | – |
| Operating lossGAAP | $(1,717) (in thousands) | – | – |
| Operating lossnon-GAAP | $(947) (in thousands) | – | – |
| Interest expenseGAAP | $(71) (in thousands) | – | – |
| Interest income and other income (expense), netGAAP | $(41) (in thousands) | – | – |
| Gain on extinguishment of vendor payableGAAP | $950 (in thousands) | – | – |
| Net loss from continuing operationsGAAP | $(882) (in thousands) | – | – |
| Net loss from continuing operationsnon-GAAP | $(1,062) (in thousands) | – | – |
| Net lossGAAP | $(887) (in thousands) | – | – |
| Net lossnon-GAAP | $(1,067) (in thousands) | – | – |
| Net loss per share, basicGAAP | $(0.05) | – | – |
| Net loss per share, dilutedGAAP | $(0.05) | – | – |
| Net loss per share, basicnon-GAAP | $(0.06) | – | – |
| Net loss per share, dilutednon-GAAP | $(0.06) | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| New productsNew products include all products manufactured on 180 nanometer or smaller semiconductor processes, and eFPGA IP and related professional services. | approximately $4.7 million | 8.6% | 59.7% |
| Mature productsMature product revenue was $0.8 million in the second quarter of 2026, compared to $0.8 million in the second quarter of 2025 and $0.8 million in the first quarter of 2026. | $0.8 million | – | – |
full-year 2026 outlook
- Revenuegrowth outlook to a range of 70% to 80%
- Notemodeling non-GAAP profitability and cash flow positive operations for the second half of 2026
What drove it
- New product revenue from continuing operations was approximately $4.7 million, an increase of $1.7 million, or 59.7%, compared with the second quarter of 2025 and an increase of $0.4 million, or 8.6%, compared with the first quarter of 2026.
- New products represented 85% of revenue in Q2 2026, compared with 79% in Q2 2025 and 85% in Q1 2026.
- North America represented 88% of revenue in Q2 2026, with revenue change of 64% from Q2 2025 and 8% from Q1 2026.
- QuickLogic received a feasibility study contract to evaluate QuickLogic eFPGA IP for potential architectural license.
- QuickLogic received a contract to develop and qualify new packaging for QuickLogic OTP discrete FPGAs to meet new program requirements.
- QuickLogic shipped multiple RadPro™ FPGA Dev Kits, enabling customer evaluations of its U.S.-fabricated radiation-hardened FPGA.
Concerns
- GAAP net loss was $(0.9 million), or $(0.05) per share, and non-GAAP net loss was $(1.1 million), or $(0.06) per share.
- GAAP operating expenses from continuing operations were $4.1 million, compared with $3.5 million in the second quarter of 2025 and $4.0 million in the first quarter of 2026.
- Asia Pacific represented 8% of revenue in Q2 2026, with revenue change of (30)% from Q2 2025 and (9)% from Q1 2026.
- Mature product revenue from continuing operations was $0.8 million in the second quarter of 2026, the same as in the second quarter of 2025 and the first quarter of 2026.
- The GAAP result included a $950 (in thousands) gain on extinguishment of vendor payable, while the non-GAAP reconciliation treated it as a significant non-recurring gain.
What to watch
- Delivery against the narrowed full-year 2026 growth outlook of 70% to 80%.
- Management's target of non-GAAP profitability and cash flow positive operations for the second half of 2026.
- Conversion of the eFPGA IP feasibility study and customer evaluations of RadPro™ FPGA Dev Kits into revenue.
- The trajectory of new-product revenue, which was approximately $4.7 million in the second quarter of 2026.
- Gross-margin progression following Q2 2026 GAAP gross margin of 43.9% and non-GAAP gross margin of 46.8%.
Balance sheet and cash flow
- Cash and cash equivalents: $18,475 (in thousands) as of June 28, 2026, compared with $18,840 (in thousands) as of December 28, 2025.
- Revolving line of credit: $5,000 (in thousands) as of June 28, 2026, compared with $15,000 (in thousands) as of December 28, 2025.
- Notes payable, current: $1,645 (in thousands) as of June 28, 2026, compared with $1,870 (in thousands) as of December 28, 2025.
- Notes payable, non-current: $923 (in thousands) as of June 28, 2026, compared with $926 (in thousands) as of December 28, 2025.
- Total liabilities: $11,719 (in thousands) as of June 28, 2026, compared with $22,337 (in thousands) as of December 28, 2025.
- Total stockholders' equity: $31,241 (in thousands) as of June 28, 2026, compared with $22,467 (in thousands) as of December 28, 2025.
- Operating cash flow and free cash flow were not reported.
Analysis
QuickLogic reported fiscal second-quarter revenue of $5,482 (in thousands), with the company describing total revenue from continuing operations as $5.5 million, up 48.7% from the second quarter of 2025 and up 8.5% from the first quarter of 2026. New products drove the expansion, with approximately $4.7 million of revenue, up $1.7 million, or 59.7%, year over year and up $0.4 million, or 8.6%, sequentially. New products accounted for 85% of revenue, while mature-product revenue remained $0.8 million across the reported periods.
Margins improved substantially. GAAP gross margin from continuing operations reached 43.9%, compared with 25.9% in the second quarter of 2025 and 36.5% in the first quarter of 2026. Non-GAAP gross margin reached 46.8%, compared with 31.0% and 39.6%, respectively. Gross profit was $2,407 (in thousands), compared with $954 (in thousands) a year earlier and $1,842 (in thousands) in the preceding quarter.
The company remained unprofitable despite the stronger revenue and gross-margin performance. GAAP operating loss was $(1,717) (in thousands), compared with $(2,522) (in thousands) in the prior-year quarter and $(2,118) (in thousands) in the prior quarter. GAAP net loss was $(887) (in thousands), or $(0.05) per share, while non-GAAP net loss was $(1,067) (in thousands), or $(0.06) per share. The GAAP result included a $950 (in thousands) gain on extinguishment of vendor payable, which was excluded from the non-GAAP reconciliation.
On the balance sheet, cash and cash equivalents were $18,475 (in thousands) as of June 28, 2026, compared with $18,840 (in thousands) at December 28, 2025. The revolving line of credit was $5,000 (in thousands), compared with $15,000 (in thousands), and total liabilities were $11,719 (in thousands), compared with $22,337 (in thousands). No operating cash flow or free cash flow was reported in the filing.
Management narrowed its full-year 2026 growth outlook to a range of 70% to 80% and said it is modeling non-GAAP profitability and cash flow positive operations for the second half of 2026. The release highlighted eFPGA IP evaluation activity, a new OTP discrete FPGA packaging contract, and RadPro™ FPGA Dev Kit shipments. Revenue concentration remained pronounced in North America, which represented 88% of Q2 revenue, while Asia Pacific revenue declined (30)% from Q2 2025 and (9)% from Q1 2026.
Management, verbatim
We see 2026 shaping up to be a very successful year for QuickLogic.
Brian Faith, CEO of QuickLogic
As a result, we have narrowed our full-year growth outlook to a range of 70% to 80%.
Brian Faith, CEO of QuickLogic
With this anticipated growth, we are modeling non-GAAP profitability and cash flow positive operations for the second half of 2026.
Brian Faith, CEO of QuickLogic
Not in the filing
stated, not guessed- Prior outlook was not provided, so comparison of actual results with prior guidance is unavailable.
- Operating cash flow was not reported.
- Free cash flow was not reported.
- Share repurchases were not reported.
- Dividends were not reported.
- Quantitative gross-margin guidance was not reported.
- Quantitative operating-expense guidance was not reported.
- Quantitative tax-rate guidance was not reported.
- Quantitative quarterly revenue guidance was not reported.
- Formal reportable business-segment revenue was not reported.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.