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what it is
QuickLogic sells programmable chip tech so customers can add custom hardware without designing everything from scratch.
how it gets paid
Last year Quicklogic made $20M in revenue. eFPGA IP was the main engine at $8.0M, or 40% of sales.
what just happened
The quarter was all about revenue hitting $10M, but the loss still came in at -$0.56 per share.
At a glance
C++ balance sheet — some cracks in the foundation
30/100 earnings predictability — expect surprises
-$0.90 fy2025 eps est
$2B fy2026 rev est
17.1% operating margin
xvary composite: 41/100 — below average
What they do
QuickLogic sells programmable chip tech so customers can add custom hardware without designing everything from scratch.
QuickLogic is tiny, with just 59 employees, but that is the point. You hire it when your chip problem is too specific for mass-market vendors and you need custom logic fast. Its February 2026 contract win was $13 million, against just $20 million in trailing revenue, which tells you one customer program can move the whole company.
How they make money
$20M
annual revenue
eFPGA IP
$8.0M
FPGA SoCs
$4.0M
Discrete FPGAs
$5.0M
Services and other
$3.0M
The products that matter
government and aerospace chips
Radiation-Hardened FPGAs
$13M award tied to the program
This is the most important near-term proof point. A $13M government award matters a lot when trailing revenue is just $16.2M.
contract-driven
programmable chip designs
eFPGA IP & FPGA SoCs
$2.8M in the last quarter
These new products were 76% of the last quarter's $3.7M revenue. That's the growth engine management is asking you to underwrite.
76% of Q4 revenue
legacy product sales
Mature Products
$0.9M in the last quarter
This bucket was 24% of quarterly revenue and declined 10%. It helps fund the business, but it is not where the growth case lives.
declining base
Key numbers
$1M
long-term debt
Long-term debt is just $1 million, or 0% of capital, so lenders are not what breaks this story.
17.1%
operating margin
Operating margin → profit after running the business → so what: QuickLogic still loses money before you even get to financing noise.
$13M
new contract
A single contract equals 65% of trailing $20M revenue, which is why this stock can look brilliant or fragile quarter to quarter.
23.5%
gross margin
Gross margin → money left after direct product costs → so what: only $2.35 stays from each $10 of sales before overhead.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
- long-term debt $1M (0% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for QUIK right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The quarter was all about revenue hitting $10M, but the loss still came in at -$0.56 per share.
Revenue jumped 395% vs. prior year, but the business still posted a deep loss and only 23.5% gross margin. Translation: more sales arrived, but not enough profit arrived with them.
$10M
revenue
$0.56
eps
23.5%
gross margin
the number that mattered
$10M matters because one quarter produced half of trailing annual revenue, which shows both momentum and how concentrated this business still is.
source: company earnings report, 2026
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What could go wrong
The #1 risk is the 2026 revenue ramp not showing up in reported quarters. On a $16.2M revenue base, a single delayed program can move the whole narrative.
med
Guidance risk
Management is guiding for 50%–100% revenue growth in 2026 after a weak quarter. That is a big promise for a company that just posted $3.7M in quarterly revenue.
If Q1 comes in well below the $5.5M guide range, the market will have to reprice the entire ramp story.
med
Margin and cash-burn pressure
Q4 non-GAAP gross margin was 20.8%, and the quarter still produced a $6M net loss. Revenue growth alone is not enough if reserves and low-margin mix keep eating the business.
Thin gross margin means each operational mistake matters more. There is not much cushion here.
med
Contract concentration
The $13M government award is meaningful because it is large relative to trailing revenue. It is also a reminder that one contract can matter too much.
Any delay, scope change, or timing issue would hit a small revenue base directly.
A weak quarter would not just be a bad quarter. It would directly challenge the only thing holding up the current growth case.
source: institutional data · regulatory filings · risk analysis
Pay attention to
q1 2026 earnings
Does revenue get near $5.5M
Management guided to $5.5M, plus or minus 10%, for Q1. This is the first real test of whether the 2026 ramp is operational or just aspirational.
gomactech 2026
Government and aerospace customer signal
This is the kind of venue where the rad-hard story should start turning into more program visibility. For a niche supplier, these events matter.
quarterly trend
Sequential revenue growth
You want to see quarterly revenue building from $3.7M, not bouncing around. Small companies can be lumpy. Repeated lumpiness is a different problem.
margin risk
Whether gross margin rebounds from 20.8%
Inventory reserves hurt Q4. If margin stays stuck near this level, more revenue may still not be enough to produce a clean path to profitability.
Analyst rankings
earnings predictability
30 / 100
In human-speak, analysts do not view these results as steady. Expect surprises, and not always the good kind.
price stability
10 / 100
This score is a volatility warning. The stock has moved inside a $4–$10 range over the last 52 weeks.
source: institutional data
Institutional activity
institutional ownership data for QUIK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$9
current price
n/a
target midpoint · n/a from current
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