QuickLogic Corporation reported its financial results for the second quarter of 2025, revealing a total revenue of $3.7 million, a decrease of 10% compared to $4.1 million in the same quarter of the previous year. For the first half of 2025, revenue totaled $8.0 million, down 18% from $9.8 million in the first half of 2024. The company experienced a significant decline in gross profit, which fell to $954,000 in the second quarter, a 57% decrease from $2.2 million year-over-year. This decline was attributed to a combination of reduced revenues and a 47% increase in the cost of revenue, primarily due to higher depreciation and labor costs.
In terms of operational changes, QuickLogic has been restructuring its business, including the discontinuation of operations at its subsidiary, SensiML Corporation, in early 2025. The company is currently exploring options for the sale of SensiML or its assets. This strategic shift is aimed at refocusing resources on its core business, particularly in the embedded FPGA (eFPGA) and silicon solutions markets. The company reported a net loss from continuing operations of $2.7 million for the second quarter, compared to a loss of $1.2 million in the same quarter last year.
QuickLogic's customer base remains concentrated, with significant revenue contributions from a few key customers. The company reported that 80% of its revenue in the second quarter came from North America, with $2.9 million generated in the U.S. alone. The company has also seen fluctuations in its mature product revenue, which increased by 33% from the previous quarter but decreased by 28% year-over-year, indicating variability in demand.
Looking ahead, QuickLogic anticipates that its new product offerings, particularly in eFPGA IP and silicon solutions, will drive future revenue growth. The company has emphasized its commitment to investing in product development and marketing to enhance its competitive position in the semiconductor industry. As of June 29, 2025, QuickLogic had $19.2 million in cash and cash equivalents, along with a $15 million outstanding balance on its revolving line of credit, which it believes will be sufficient to fund operations and capital expenditures for the next twelve months.
About QUICKLOGIC Corp
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