QuickLogic Corp. Files Q3 2024 10-Q Report

TL;DR

QuickLogic's Q3 2024 10-Q is in. Check financials.

AI Summary

QuickLogic Corp. reported its Q3 2024 results for the period ending September 29, 2024. The company's financial statements indicate a fiscal year end of December 31. Key financial figures and operational details are presented in this 10-Q filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of QuickLogic Corp., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks beyond those typically associated with public companies.

Key Numbers

• 10,000 — Shares (Total shares outstanding as of September 29, 2024.)
• 14,697 — Shares (Shares outstanding as of December 31, 2023.)
• 14,118 — Shares (Shares outstanding as of January 1, 2024.)

Key Players & Entities

• QUICKLOGIC Corp (company) — Filer
• 20240929 (date) — Reporting period end date
• 20241113 (date) — Filing date
• San Jose, CA (location) — Company headquarters location
• June 14, 2027 (date) — Operating lease expiration date

FAQ

Key Financial Figures

• $0.001 — of registrant's common stock, par value $0.001 per share, outstanding. Table of Conte

Filing Documents

• quicklo20240916_10q.htm (10-Q) — 1268KB
• ex_724408.htm (EX-31.1) — 15KB
• ex_724409.htm (EX-31.2) — 15KB
• ex_724410.htm (EX-32.1) — 6KB
• ex_724411.htm (EX-32.2) — 6KB
• 0001437749-24-034931.txt ( ) — 6282KB
• quik-20240929.xsd (EX-101.SCH) — 58KB
• quik-20240929_cal.xml (EX-101.CAL) — 50KB
• quik-20240929_def.xml (EX-101.DEF) — 401KB
• quik-20240929_lab.xml (EX-101.LAB) — 346KB
• quik-20240929_pre.xml (EX-101.PRE) — 432KB
• quicklo20240916_10q_htm.xml (XML) — 932KB

- Financial Information

Part I - Financial Information 3 Item 1. Unaudited Condensed Consolidated Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Operations 4 Unaudited Condensed Consolidated Statements of Cash Flows 5 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 24

- Other Information

Part II - Other Information 24 Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 3. Defaults Upon Senior Securities 24 Item 5. Other Information 24 Item 6. Exhibits 24

Signatures

Signatures 25 Table of Contents

Financial Information

PART I. Financial Information

Unaudited Condensed Consolidated Financial Statements

Item 1. Unaudited Condensed Consolidated Financial Statements QUICKLOGIC CORPORATION UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value amount) September 29, December 31, 2024 2023 ASSETS Current assets: Cash, cash equivalents and restricted cash $ 22,364 $ 24,606 Accounts receivable, net of allowance for doubtful accounts of $ 24 and $ 34 , as of September 29, 2024 and December 31, 2023, respectively 657 1,625 Contract assets 2,331 3,609 Note receivable, current — 1,200 Inventories, net 1,780 2,029 Prepaid expenses and other current assets 2,919 1,561 Total current assets 30,051 34,630 Property and equipment, net 14,137 8,948 Capitalized internal-use software, net 2,352 2,069 Right of use assets, net 828 981 Intangible assets, net 457 537 Non-marketable equity investment 300 300 Goodwill 185 185 Note receivable, non-current 1,260 — Other assets 143 142 TOTAL ASSETS $ 49,713 $ 47,792 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Revolving line of credit $ 20,000 $ 20,000 Trade payables 2,877 4,657 Accrued liabilities 1,457 2,673 Deferred revenue 449 1,052 Note payable, current 1,798 946 Lease liabilities, current 275 302 Total current liabilities 26,856 29,630 Long-term liabilities: Lease liabilities, non-current 529 681 Notes payable, non-current 1,314 461 Other liabilities, non-current 125 125 Total liabilities 28,824 30,897 Commitments and contingencies (see Note 13) Stockholders' equity: Preferred stock, $ 0.001 par value; 10,000 shares authorized; no shares issued and outstanding — — Common stock, $ 0.001 par value; 200,000 authorized; 14,697 and 14,118 shares issued and outstanding as of September 29, 2024 and December 31, 2023, respectively 15 14 Additional paid-in capital 329,965 322,436 Accumulated deficit ( 309,091 ) ( 305,555 ) Total stockholders' equity 20,889 16,895 TOTAL LIABILITIES AND STOCK

View Full Filing

View this 10-Q filing on SEC EDGAR