QuickLogic Reports 17% Revenue Growth to $5.1 Million in Q1 2026

QuickLogic Corporation reported its financial results for the first quarter of 2026, revealing a total revenue of $5.1 million, which represents a 17% increase compared to $4.3 million in the same quarter of the previous year. The company experienced a 35% increase in revenue from the prior quarter, driven primarily by a 51% rise in new product revenue, which reached $4.3 million. However, mature product revenue decreased by 14% from the previous quarter, totaling $0.8 million. The gross profit for the quarter was $1.8 million, a slight decline of 2% from the previous year, attributed to a 31% increase in the cost of revenue.

In terms of profitability, QuickLogic reported a net loss of $2.2 million for the first quarter of 2026, an improvement from a net loss of $3.6 million in the prior quarter and a loss of $2.1 million in the same quarter last year. The company’s operating expenses increased to $4.0 million, primarily due to higher research and development costs, which rose by 19% to $1.5 million. Selling, general, and administrative expenses decreased by 4% to $2.4 million.

The company has also made significant operational changes, including the ongoing evaluation of its subsidiary, SensiML, which has been classified as a discontinued operation. QuickLogic has incurred costs related to the disposal of SensiML, amounting to $11,000 in the first quarter of 2026, down from $141,000 in the same period last year. The company is focusing its resources on its core business, particularly in the eFPGA IP and ruggedized FPGA markets, which have shown promising growth.

As of March 29, 2026, QuickLogic's total assets decreased to $32.4 million from $44.8 million at the end of the previous fiscal year, primarily due to a reduction in cash and cash equivalents. The company reported $6.0 million in cash and cash equivalents, down from $18.8 million. Total liabilities also decreased significantly to $8.1 million, reflecting the repayment of its revolving line of credit. Stockholders' equity increased to $24.3 million, bolstered by net proceeds from the sale of common stock.

Looking ahead, QuickLogic anticipates that its existing cash, along with proceeds from its recent stock offerings and revenues from operations, will be sufficient to fund its operations and capital expenditures for the next twelve months. The company remains focused on expanding its eFPGA IP business and developing new programmable logic devices, while also navigating the challenges posed by the semiconductor industry's cyclicality and market conditions.