QuickLogic Corporation (QUIK): Business Model Canvas [Dec-2025 Updated]

You're trying to figure out where QuickLogic Corporation (QUIK) is placing its bets after its strategic shift, and honestly, it's all about the silicon DNA now. They are laser-focused on monetizing their proprietary embedded FPGA (eFPGA) technology, especially the radiation-hardened stuff for defense clients, which is a high-margin game. With total revenue for the last twelve months ending Q3 2025 hitting $16.18 million, the question isn't what they sell, but how they license it. This is a deep dive into the nine blocks of their Business Model Canvas, showing exactly how they plan to turn specialized IP into predictable revenue, so stick around to see the structure.

QuickLogic Corporation (QUIK) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that power QuickLogic Corporation's strategy, especially as they push their eFPGA IP into advanced nodes and specialized markets like Aerospace & Defense. These partnerships are critical for accessing manufacturing capacity, design ecosystems, and crucial end-markets. Honestly, the revenue volatility we saw in Q3 2025, with total revenue at only $2.0 million, down 52.5% from Q3 2024, really underscores the importance of securing these strategic, often large, IP licensing deals.

Foundry Access and Advanced Node Qualification

Access to leading-edge process technology is non-negotiable for eFPGA IP, and QuickLogic Corporation has been actively securing its place in these critical supply chains. They are clearly prioritizing advanced nodes, which often means larger, more lucrative long-term contracts, even if the near-term revenue recognition is lumpy, as seen by the Q3 2025 new product revenue dropping to $1.0 million.

Key foundry relationships include:

• Intel Foundry: QuickLogic Corporation delivered design-specific eFPGA Hard IP for a customer's Test Chip on the Intel 18A process node in April 2025. They also joined the Intel Foundry Chiplet Alliance during the second quarter of fiscal 2025 to further target this advanced node.
• GlobalFoundries: The company noted success in customer designs targeting the 12nm process at GlobalFoundries, alongside TSMC, as part of their growing engagement in high-density designs.

Defense Contractors and Mission-Critical IP

The focus on the U.S. Military, Aerospace, and Government (USMAG) sector is a major strategic pillar, directly supported by specialized IP development. This segment is expected to drive future revenue, though Q1 2025 revenue saw a decrease of 23.7% year-over-year, partly due to the timing of large eFPGA IP contracts.

Specific activity in this area includes:

• QuickLogic Corporation was awarded an Incremental Funding Modification (IFM) of $1.4 million for its Strategic Radiation Hardened Program in the first quarter of 2025.
• Engineering resources were focused on radiation-hardened (rad-hard) FPGA test chips using the GlobalFoundries 12LP process to enhance U.S. defense system support.

Exclusive Distribution for Aerospace & Defense

To ensure their specialized eFPGA Hard IP reaches the right customers in the defense space, QuickLogic Corporation established a key distribution agreement. This partnership is designed to address obsolescence challenges for ruggedized systems.

The relationship with CTG (a division of Blue Raven Solutions) is structured as follows:

Partner Entity	Role	Sector Focus	Agreement Date Reference
CTG (Blue Raven Solutions)	Sole source distributor for QuickLogic Corporation's eFPGA Hard IP	Aerospace & Defense	August 2024

EDA Tool Vendor Integration

Design flow integration with Electronic Design Automation (EDA) vendors is essential for customer adoption. QuickLogic Corporation is actively enhancing its toolchain compatibility to improve the usability and performance of its IP cores.

The collaboration with Synopsys shows concrete performance improvements:

• The Aurora PRO FPGA User Tool now fully integrates Synopsys Synplify®.
• This integration delivers a measurable 50% better resource utilization and up to 35% faster maximum frequency for designs.

Chiplet Ecosystem Collaboration

The partnership with YorChip is central to QuickLogic Corporation's chiplet strategy, leveraging the open UCIe standard. The first chiplets from this collaboration were expected in early 2025.

Here are the quantitative details of the joint offering:

Metric	Specification	Relevance
Chiplet Size Range	40K LUTs to over 1M LUTs	Covers a wide range of applications from edge IoT to AI/ML
Interconnect Standard	UCIe compatible	Ensures interoperability with other chiplets from major supporters like AMD, Intel, and TSMC
Exhibition Date	January 21-23, 2025	Showcased at the Chiplet Summit in Santa Clara

This flexibility allows customers to license both QuickLogic Corporation's eFPGA IP and YorChip's UCIe IP for prototyping, which is a distinct model compared to traditional discrete FPGA vendors.

QuickLogic Corporation (QUIK) - Canvas Business Model: Key Activities

You're looking at the core engine driving QuickLogic Corporation (QUIK) right now, which is heavily weighted toward specialized IP development and securing high-value, often government-backed, design wins. The key activities revolve around deep engineering and managing a lean, outsourced manufacturing footprint.

Research and development (R&D) of eFPGA Hard IP and Rad-Hard FPGA technology.

The R&D effort is central, focusing on next-generation embedded FPGA (eFPGA) Hard IP and radiation-hardened (Rad-Hard) technology for defense and high-reliability applications. For the fiscal third quarter ending September 28, 2025, GAAP operating expenses were $3.5 million, with non-GAAP operating expenses at $2.9 million. To be fair, this R&D spending is vital, but it hasn't translated to immediate profitability, as the non-GAAP net loss for Q3 2025 was $3.2 million. We know that in Fiscal Year 2024, R&D expenses were about $6.5 million. Also, for Q3 2025, $300,000 of R&D costs were allocated to Cost of Goods Sold (COGS).

Key R&D Focus Areas:

• Accelerating fabrication of the Strategic Rad Hard FPGA Test Chip.
• Developing high reliability SRH Field Programmable Gate Array (FPGA) technology.
• Integrating eFPGA IP into advanced fabrication nodes like Intel 18A.

Generating custom eFPGA IP cores quickly using the proprietary Australis IP Generator.

This activity is about turning R&D into deployable assets for customers, often under contract. QuickLogic Corporation recently announced improvements to its proprietary Australis IP Generation tool, with a release scheduled for the fourth quarter of 2025. This tool is designed to speed up the creation of custom eFPGA IP cores. The company also highlighted enhancements to its open-source toolchain, noting that the Aurora PRO FPGA User Tool delivers 50% better resource utilization and up to 35% faster maximum frequency when integrated with Synopsis Synplify®.

Securing and executing large government and defense contracts.

This is a major revenue driver and validation point for the Rad-Hard technology. In the third quarter of fiscal 2025, QuickLogic Corporation won a $1 million eFPGA Hard IP contract specifically for a high-performance data-center ASIC, showing commercial traction alongside defense work. On the defense side, the Strategic Radiation Hardened (SRH) Program is key. In March 2025, the company secured a $1.43 million Incremental Funding Modification (IFM) for this program. This IFM added to a $6.58 million contract from December 2024, bringing the total program value to $8.01 million. These contracts are essential, especially when new product revenue for Q3 2025 was only approximately $1.0 million.

Recent Contract Milestones:

• $1 million eFPGA Hard IP contract secured in Q3 2025.
• Total SRH Program value reached $8.01 million as of March 2025.
• Expanded involvement with a Defense Industrial Base entity for cyber-security.

Maintaining and enhancing the open-source FPGA development tools (Aurora Pro).

The commitment to open-source tools is a distinct part of the strategy, helping to lower the barrier to entry and foster a user base around their technology. The Aurora PRO tool enhancement, which promises 50% better resource utilization, is a direct output of this activity. This complements the IP core generation work, ensuring that the IP can be effectively implemented by customers using accessible tools.

Managing the fabless supply chain, from design to outsourced manufacturing.

As a fabless semiconductor company, QuickLogic Corporation does not own fabrication plants. This means key activities include managing relationships with a limited number of third parties for critical steps. The company depends on these independent subcontractors for wafer fabrication, assembly, programming, and testing of its hardware products. For instance, they have noted success in customer designs targeting 12nm at GlobalFoundries and TSMC, and are engaging with Intel 18A.

Here's a quick look at the revenue context for managing this outsourced structure:

Metric	Q3 Fiscal 2025 Amount	Q1 Fiscal 2025 Amount	FY 2024 Annual Revenue
Total Revenue (Continuing Ops)	$2.0 million	$4.3 million	$20.11 million
New Product Revenue	Approx. $1.0 million	Approx. $3.7 million	N/A
Mature Product Revenue	$1.1 million	$0.6 million	N/A
Trailing Twelve Months (TTM) Revenue	$17.99 Million USD	N/A	N/A

The company's current ratio was 1.18, and the quick ratio was 1.14 as of the latest report, which gives you a sense of their short-term liquidity to manage these supply chain obligations.

QuickLogic Corporation (QUIK) - Canvas Business Model: Key Resources

The Key Resources for QuickLogic Corporation as of late 2025 are centered on its intellectual property portfolio, specialized development tools, and strategic industry access.

Proprietary eFPGA Hard IP and Rad-Hard IP Portfolio

QuickLogic Corporation possesses a portfolio of embedded FPGA (eFPGA) Hard Intellectual Property (IP) that is silicon-proven across multiple fabrication nodes. A key strategic focus is the Rad-Hard eFPGA IP, designed to meet the stringent requirements of mission-critical sectors like U.S. Military, Aerospace & Government (USMAG). The company has delivered the world's first eFPGA technology on the Intel 18A process node.

• eFPGA Hard IP established across multiple fabrication nodes for commercial and Defense customers.
• The technology supports applications ranging from high-performance data processing to low-power, battery-operated devices.
• The IP enables rapid iteration of new cryptographic techniques and security solutions, reducing design risk and cost.

Australis IP Generator, a key software tool for rapid IP creation

The proprietary Australis IP Generator is central to the company's ability to deliver customized logic blocks efficiently. This tool allows QuickLogic Corporation to meet specific Power, Performance, and Area (PPA) needs for customers.

Metric	Timeframe/Value
Time to deliver fab-specific Hard IP on new process node	Four to six months
Time to deliver customer-specific variants (post-fab-specific IP)	Weeks
Supported Process Technologies (as of March 2025)	Intel 18A, GlobalFoundries 12LP and 22FDX, TSMC N12e, UMC 22nm
Supported FPGA Tool Suites	Aurora (100% open-source) and Aurora Pro (integrates Synopsys Synplify)

Highly specialized engineering talent focused on low-power, customizable logic

The engineering capability is grounded in deep domain expertise, which has been applied to porting the core architecture to advanced nodes like Intel 18A. The company has over 30 years of FPGA expertise. In Q2 2025, engineering resources were focused on strategic initiatives for rad-hard FPGA test chips using the GlobalFoundries 12LP process.

Strategic alliances providing early access to advanced process nodes like Intel 18A

QuickLogic Corporation maintains critical partnerships that secure access to leading-edge manufacturing technologies and ecosystem support. The company joined the Intel Foundry Chiplet Alliance in June 2025. This extended existing collaboration, which already included offering eFPGA Hard IP on the Intel 18A node via the Intel Foundry IP and USMAG Alliance programs. Alliance membership provides early visibility into process and packaging roadmaps and access to multi-project-wafer (MPW) shuttles to reduce prototype cycles and costs.

• Participation in MPW shuttles shortens prototype cycles and reduces cost.
• Forum to help define interoperable infrastructure leveraging the UCIe standard.

Cash and equivalents, which ended Q2 2025 at $19.2 million

Liquidity is a key resource, though it has seen recent utilization due to development costs. The cash position reflects financing activities including utilization of a credit facility and ATM sales.

Financial Metric	Amount (in thousands, unless noted)
Cash, cash equivalents and restricted cash (End of Q2 2025)	$19,191
Cash, cash equivalents and restricted cash (End of Q3 2025)	$17.3 million
Cash, cash equivalents and restricted cash (End of FY 2024)	$21,859
Cash usage during Q3 2025	Approximately $1.9 million
Credit Facility Utilization (End of Q2 2025)	$15 million utilized from a $20 million facility

QuickLogic Corporation (QUIK) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a customer chooses QuickLogic Corporation (QUIK) over a standard ASIC or off-the-shelf FPGA solution. It boils down to flexibility, speed, and mission assurance, especially in high-stakes environments.

Embedded FPGA (eFPGA) for silicon customization and post-silicon flexibility.

QuickLogic Corporation (QUIK) offers eFPGA Hard IP that lets you build reconfigurable logic directly into your System-on-Chip (SoC). This isn't just theoretical; we delivered a customer-specific eFPGA Hard IP variant for a high-performance Data Center ASIC fabricated on a 12 nm process, with IP delivery scheduled for Q4 2025. This capability is powered by the proprietary Australis IP Generator, which allows us to target established fabrication nodes and deliver customer variants in just weeks. For entirely new nodes, delivery takes only four to six months. Our FPGA User Tools support this flexibility, offering a 100% open-source version named Aurora, alongside Aurora Pro, which includes Synopsys® Synplify® Logic Synthesis. Furthermore, the planned FPGA Chiplet product line expansion targets devices ranging from 40K LUTs to over one million LUTs.

Low-power consumption, crucial for battery-operated Industrial IoT and edge devices.

QuickLogic Corporation (QUIK) focuses on delivering highly customizable, low-power solutions. This characteristic is key for extending battery life in Industrial IoT and edge computing applications where every milliwatt counts. While specific power consumption figures are customer-dependent, the core value is enabling hardware re-programmability without the typical power penalty associated with traditional FPGAs.

Radiation-Hardened (Rad-Hard) technology for secure, mission-critical Aerospace & Defense applications.

For the most demanding environments, QuickLogic Corporation (QUIK) provides Strategic Radiation Hardened (SRH) technology. We are positioned as the only source for SRH eFPGA hard IP fabricated in the U.S. by a U.S. company. This commitment is backed by significant government funding; for instance, a $6.575 million contract was awarded in December 2024 to continue SRH development, bringing total program awards to over $33 million since August 2022. We also received multiple contract awards under the US Government's SRH program in 2024. The investment in accelerating the SRH FPGA Test Chip fabrication is seeing strong customer interest, anticipating orders for the upcoming SRH FPGA Dev Kit.

Accelerated time-to-market via a robust chiplet ecosystem and open-source tools.

The ecosystem partnerships and open-source approach directly translate to faster product realization for you. QuickLogic Corporation (QUIK) joined the Intel Foundry Chiplet Alliance in June 2025 to gain early access to advanced process and packaging roadmaps. This collaboration supports standards-based, multi-chip solutions leveraging the UCIe interconnect. Participation in the Chiplet Alliance also includes access to multi-project-wafer (MPW) shuttles, which shorten prototype cycles and reduce cost. This ecosystem development occurs against a backdrop where the global chiplet market size was estimated at USD 9.06 billion in 2024 and is projected to hit USD 223.56 billion by 2033, growing at a CAGR of 43.7% from 2025 to 2033.

Reduced ASIC design risk and extended product lifecycles for customers.

The silicon-proven nature of our eFPGA IP is specifically designed to help customers reduce design risk and accelerate schedules. This is demonstrated by the recent $1 million eFPGA Hard IP contract for a Data Center ASIC. For space applications, integrating our flexible logic directly into SoCs helps extend mission lifetimes and reduce redesign costs. The open-source Aurora tool suite further supports this by ensuring full code transparency for long-term maintainability.

Here's a quick look at the tangible deliverables supporting these value propositions:

Value Proposition Metric	Metric/Data Point	Context/Application
eFPGA Customization Speed (Established Node)	Weeks	Delivery time for customer-specific eFPGA Hard IP variants
eFPGA Customization Speed (New Node)	Four to six months	Delivery time for eFPGA Hard IP on new fabrication nodes
Recent eFPGA Contract Value	$1 million	Value of the Q4 2025 scheduled Data Center ASIC IP contract
Rad-Hard Program Total Awards (as of Dec 2024)	Over $33 million	Total funding awarded for the Strategic Radiation Hardened Program
Rad-Hard Program Contract Value (Dec 2024 Tranche)	$6.575 million	Funding tranche awarded in December 2024
Chiplet Market CAGR (2025-2033)	43.7%	Projected Compound Annual Growth Rate for the global chiplet market
Chiplet Ecosystem Prototype Cycle Improvement	Shorten prototype cycles	Benefit from participation in MPW shuttles via Chiplet Alliance

If you are evaluating the Q3 2025 results, note that total revenue from continuing operations was $2.0 million, with new product revenue at approximately $1.0 million. The non-GAAP gross margin for that quarter was (11.9%). The company's market capitalization stood at $107.67 million as of early December 2025.

For your next steps, Finance needs to model the revenue impact from the anticipated SRH FPGA Dev Kit orders expected in the coming weeks.

QuickLogic Corporation (QUIK) - Canvas Business Model: Customer Relationships

You're looking at how QuickLogic Corporation secures and manages its customer base across its specialized semiconductor IP and product lines as of late 2025. The approach is segmented, matching the relationship intensity to the customer type, which is key for a fabless semiconductor firm focused on niche, high-value markets.

Dedicated, high-touch engagement for large government and defense contracts.

QuickLogic Corporation maintains deep, direct relationships with entities in the Defense Industrial Base (DIB) and U.S. Government (USG) programs. This high-touch model is necessary for mission-critical applications requiring ruggedized or radiation-hardened solutions. For instance, in February 2025, QuickLogic Corporation announced selection by a DIB company for eFPGA IP, valued at a $1.1 million contract; IP delivery for this was scheduled during Q2 2025. Furthermore, the company expanded its involvement with a DIB entity specializing in cyber-security for strategic and tactical weapons systems. There is also an anticipated rebound from the USG Strategic Radiation Hardened FPGA Program expected to contribute to fourth-quarter revenue growth in fiscal 2025.

• Engagement involves custom, design-specific solutions.
• Focus on SWaP-C-optimized programmable logic.
• Addressing obsolescence challenges for lifecycle management.

Direct sales and engineering support for strategic eFPGA IP licensing customers.

For strategic eFPGA Intellectual Property (IP) licensing, the relationship is direct, involving licensing agreements negotiated straight with QuickLogic Corporation. This is where engineering support is crucial for integration into Application Specific Integrated Circuit (ASIC) products. For the three months ended June 29, 2025, eFPGA IP revenue, which was primarily professional services revenue, totaled $2.6 million. A recent win in Q3 2025 involved a $1 million eFPGA Hard IP contract for a high-performance data-center ASIC. Another licensing agreement was signed in Q2 2025 for a customer's Intel 18A test chip. QuickLogic Corporation can deliver customer-specific IP variants in just weeks once a fab-specific Hard IP is established.

The following table summarizes key financial and contract data points related to these customer engagements in 2025:

Customer/Segment Type	Metric/Event	Amount/Value	Period/Date
Defense Industrial Base (DIB)	eFPGA IP Contract Value	$1.1 million	Announced Feb 2025
Strategic eFPGA Licensing	eFPGA Revenue (3 Months)	$2.6 million	Ended June 29, 2025
Commercial ASIC Licensing	eFPGA Hard IP Contract Value	$1.0 million	Announced Q3 2025
Total Revenue (Continuing Ops)	Total Revenue	$2.0 million	Q3 Fiscal 2025
New Product Revenue	Revenue Contribution	Approx. $1.0 million	Q3 Fiscal 2025

Self-service and community support via open-source tools for developers.

QuickLogic Corporation supports a developer base by combining its technology with open-source tools, which helps ensure longevity and transparency for users building on their platforms. The company's eFPGA IP is supported by two tool suites, one of which is Aurora, described as a 100% open-source version. This approach helps developers start using the technology without heavy upfront licensing costs for basic tool access, fostering a community around the technology.

Distributor-led relationships for the Aerospace & Defense sector (via CTG).

For the Aerospace & Defense sector, QuickLogic Corporation utilizes a structured channel partner relationship. CTG, a division of Blue Raven Solutions, was appointed the sole source distributor for QuickLogic Corporation's eFPGA Hard IP specifically within the Aerospace & Defense sector, announced in August 2024. This relationship leverages CTG's established network to connect QuickLogic Corporation's programmable logic and custom eFPGA IP cores with key players in the defense industry. CTG's location is listed as One Odell Plaza, Suite 139, Yonkers, NY 10701.

• CTG handles distribution for eFPGA Hard IP in A&D.
• This channel addresses obsolescence challenges for customers.
• CTG's network connects to key players in the sector.

Finance: draft 13-week cash view by Friday.

QuickLogic Corporation (QUIK) - Canvas Business Model: Channels

You're looking at how QuickLogic Corporation moves its specialized IP and silicon to market as of late 2025. The channels are a mix of high-touch direct engagement for complex IP and broader digital/distribution paths for discrete products.

Here's a quick look at the financial context for the period ending September 28, 2025, which informs the current channel effectiveness:

Metric (Q3 Fiscal 2025)	Amount	Comparison Context
Total Revenue from Continuing Operations	$2.0 million	Decrease of 51.8% vs Q3 2024
New Product Revenue	Approx. $1.0 million	Decrease of 72.6% vs Q3 2024
Mature Product Revenue	$1.1 million	Increase vs $0.7 million in Q3 2024
Trailing 12-Month Revenue (as of Sep 30, 2025)	$16.2M	Down -24.58% year-over-year

The company is targeting total Q4 2025 revenue between $3.5 million and $6 million based on backlog and forecasts.

Direct Sales Team for eFPGA Hard IP Licensing and Non-Recurring Engineering (NRE) Services

The direct sales effort focuses heavily on securing eFPGA Hard IP licensing and NRE services, which are the core of QuickLogic Corporation's new product revenue strategy. The VP of IP Sales, Andy Jaros, was appointed in Q4 2024 to strengthen this area.

Tangible wins show this channel is active:

• Won a $1 million eFPGA Hard IP contract for a high-performance data-center ASIC, with IP delivery scheduled for Q4 2025.
• The CEO noted that license revenue may surpass NRE revenue for the first time in Q3 2025.
• The company anticipates receiving several new eFPGA Hard IP contracts during the weeks following the Q3 2025 report.

Semiconductor Foundries as a Channel for IP Availability

QuickLogic Corporation uses foundry partnerships as a critical channel to ensure their eFPGA IP is available on leading-edge process nodes, which is essential for securing large ASIC design wins. This availability is a key part of the value proposition for the direct sales channel.

The current foundry ecosystem supporting QuickLogic Corporation's IP includes:

• Intel Foundry: QuickLogic Corporation joined the Intel Foundry Chiplet Alliance and signed a contract for a customer's Intel 18A test chip. The first eFPGA Hard IP core optimized for Intel 18A was on track for completion in Q1 2025.
• GlobalFoundries: Customer designs are targeting 12nm at GlobalFoundries. A defense contract secured in late 2024 targeted the GlobalFoundries' 12LP process.
• TSMC: Customer designs are also targeting TSMC processes, including 12nm.

Specialized Distributors like CTG for the U.S. Military, Aerospace & Government (USMAG) Market

While specific distributor names like CTG aren't explicitly linked to 2025 revenue figures in the provided data, the USMAG market remains a significant channel, primarily served through direct engagement and specialized government programs.

The defense channel activity includes:

• A significant rebound of the USG Strategic Radiation Hardened FPGA Program is expected to contribute to Q4 2025 revenue growth.
• In Q4 2024, QuickLogic Corporation announced a $6.6 million fourth tranche of the Strategic Radiation Hardened FPGA Technology US Government contract.
• A $1.1 million eFPGA Hard IP contract with a new defense industrial base customer was awarded in Q4 2024, with delivery scheduled for Q2 2025.
• The company expanded its involvement with a Defense Industrial Base entity specializing in cyber-security for strategic and tactical weapons systems in Q3 2025.

Online Presence and Developer Kits (QuickFeather) for Discrete FPGA Product Sales

Discrete FPGA product sales fall under the Mature Product revenue category, which was $1.1 million in Q3 2025, up from $0.7 million in Q3 2024. The online presence serves as a key touchpoint for these products and for general company information distribution.

The digital and developer kit channels involve:

• QuickLogic Corporation uses its website, company blog, corporate Twitter account, Facebook page, and LinkedIn page as channels of distribution for information.
• Specific developer kits mentioned include the QuickFeather Lite Kit, Qomu MCU Kit, and QuickFeather Alexa.
• The company anticipates receiving orders for its upcoming SRH FPGA Dev Kit in the weeks following Q3 2025.

Finance: finalize Q4 2025 revenue mix projections based on the $3.5M-$6M guidance range by next week.

QuickLogic Corporation (QUIK) - Canvas Business Model: Customer Segments

You're looking at the customer base for QuickLogic Corporation as of late 2025, focusing on where the revenue and strategic focus are landing. The company clearly segments its market approach across high-reliability government/defense work and expanding commercial IP licensing.

Defense Industrial Base (DIB) entities securing seven-figure eFPGA IP contracts represent a high-value segment for QuickLogic Corporation's embedded FPGA (eFPGA) IP. This segment is characterized by securing significant, non-recurring engineering (NRE) revenue through IP licensing agreements for custom ASIC designs. For instance, QuickLogic Corporation announced selection by a DIB company for eFPGA IP targeting the GlobalFoundries' 12LP process, with an associated contract value of $1.1 million, with delivery scheduled during Q2 2025. Furthermore, the company expanded its involvement with a DIB entity specializing in cyber-security for strategic and tactical weapons systems in Q3 2025. The CEO anticipated receiving several new eFPGA Hard IP contracts during the weeks following Q3 2025.

The U.S. Military, Aerospace & Government (USMAG) segment is a key driver for QuickLogic Corporation's ruggedized and radiation-hardened (Rad-Hard) offerings. The company highlighted that a significant rebound of the USG Strategic Radiation Hardened FPGA Program was expected to contribute to fourth-quarter revenue growth following Q3 2025. This positions the company strongly in the US military, aerospace, and government sectors, particularly with its Strategic Radiation Hardened (SRH) FPGA Test Chip investment.

For fabless semiconductor companies and ASIC designers needing embedded logic, the focus is on eFPGA Hard IP licensing for commercial applications. A notable win in this area was the selection of eFPGA Hard IP for a new high-performance Data Center ASIC, announced in October 2025, with an associated contract value of $1 million, with delivery scheduled for Q4 2025. This contract marked QuickLogic Corporation's first eFPGA Hard IP contract for the high-performance commercial data center market. The company's ability to deliver customer-specific eFPGA Hard IP in weeks, or four to six months for new fabrication nodes, using the Australis IP Generator, is a key enabler for this segment.

The Industrial IoT and computing markets requiring low-power, flexible endpoint AI solutions are primarily served by QuickLogic Corporation's new product revenue stream, which includes Endpoint AI/ML solutions. For the fiscal third quarter of 2025, new product revenue was $1.0 million, representing approximately half of the total revenue of $2.0 million for the period ended September 28, 2025. This compares to new product revenue of $2.9 million in Q2 2025. The company's overall trailing twelve months (TTM) revenue as of late 2025 stood at $17.99 Million USD. The low-power, customizable solutions are aimed at industrial, computing, and consumer markets.

Here's a look at the reported revenue components for the third quarter of fiscal 2025, which reflects the current mix of business across these segments:

Revenue Component / Segment Focus	Amount (Q3 FY2025)	Notes
Total Revenue (Continuing Operations)	$2.0 million	Down 51.8% compared with Q3 2024.
New Product Revenue (Endpoint AI/eFPGA IP)	$1.0 million	Includes eFPGA IP licensing and Endpoint AI solutions.
Mature Product Revenue (Discrete FPGAs)	$1.1 million	Compares to $0.7 million in Q3 2024.
Data Center eFPGA Contract Award	$1.0 million	New contract announced in Q4 2025 delivery schedule.
DIB eFPGA IP Contract Award	$1.1 million	Awarded in Q2 2025.

The customer base relies on QuickLogic Corporation's distinct product lines:

• eFPGA Hard IP: Targeting DIB and Commercial ASIC designers on nodes like GlobalFoundries 12LP and Intel 18A.
• Ruggedized/Rad-Hard FPGAs: Directly serving USMAG and defense applications.
• Endpoint AI/ML Solutions: Driving the New Product Revenue for Industrial IoT and computing.

The company's GAAP operating expenses for Q3 2025 were $3.5 million.

QuickLogic Corporation (QUIK) - Canvas Business Model: Cost Structure

You're looking at the core expenditures QuickLogic Corporation incurs to keep its eFPGA IP and discrete FPGA business running as of late 2025. The cost structure is heavily weighted toward future development, which is typical for a company driving advanced silicon IP.

High R&D costs are a constant here, defintely necessary for developing advanced embedded FPGA (eFPGA) IP on new process nodes, like the work mentioned on Intel 18A technology. This investment is key to maintaining a competitive edge in offering flexible logic directly into system-on-chips (SoCs).

The operating burn rate is clearly visible in the quarterly figures. For the third quarter of fiscal 2025, QuickLogic Corporation reported that Non-GAAP Operating Expenses were $2.9 million from continuing operations. This figure compares to $3.0 million in the third quarter of 2024 and $2.5 million in the second quarter of 2025.

The total cost picture includes both GAAP and non-GAAP views, which helps you see the impact of non-cash items like stock-based compensation, which was $0.8 million in Q3 2025. Here's a quick look at the key expense metrics for Q3 2025:

Cost Component	Q3 2025 Amount (Continuing Operations)	Sequential Comparison
Non-GAAP Operating Expenses	$2.9 million	Up from $2.5 million in Q2 2025
GAAP Operating Expenses	$3.5 million	Down from $4.1 million in Q3 2024
R&D Costs Allocated to COGS	$300,000	Contributed to negative Non-GAAP Gross Margin

Cost of Goods Sold (COGS) covers the direct costs associated with discrete FPGA product sales and any Non-Recurring Engineering (NRE) services provided under IP contracts. The margin performance here is sensitive to revenue mix; for instance, the Non-GAAP gross margin from continuing operations was a negative (11.9%) in Q3 2025. This compares to 64.7% in Q3 2024 and 31.0% in Q2 2025. The lower Q3 2025 margin was partly due to unfavorable absorption of fixed costs because of lower revenue, plus the fact that $300,000 of R&D costs were allocated to COGS.

The Sales, General, and Administrative (SG&A) component is wrapped up within the GAAP and Non-GAAP Operating Expenses. These costs cover the IP sales team salaries, marketing efforts to expand into commercial markets like data centers, and general overhead to run the fabless operation. While a specific SG&A number isn't broken out separately from the GAAP Operating Expenses of $3.5 million, you know the Non-GAAP figure, which excludes stock-based compensation, was $2.9 million.

As a fabless semiconductor company, QuickLogic Corporation avoids the massive capital expenditure of owning fabrication plants. Still, costs are present in the supply chain, which you see reflected in COGS:

• Foundry costs are incurred when engaging manufacturing partners for silicon production.
• Packaging costs are necessary to prepare the chips for end-use integration.
• The fabless model allows for flexibility, such as working with partners prior to IP licensing to a System-on-Chip (SoC) company.

QuickLogic Corporation (QUIK) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for how QuickLogic Corporation brings in cash, which is key for understanding their path forward, especially given the recent revenue dip. The business model clearly leans on both upfront development work and recurring IP value.

The core of QuickLogic Corporation's revenue streams centers on its intellectual property (IP) offerings, specifically the embedded FPGA (eFPGA) Hard IP, alongside sales of their discrete FPGA products.

• The majority of QuickLogic Corporation's revenue is derived from sales of eFPGA IP licenses and professional services.
• The Chief Executive Officer noted that license revenue could surpass Non-Recurring Engineering (NRE) revenue for the first time in the third quarter of 2025.
• A recent highlight included securing a $1 million contract for eFPGA Hard IP targeting a high-performance data-center ASIC.

Non-Recurring Engineering (NRE) fees are collected for custom IP development and integration work, which often precedes the larger licensing agreements.

Product Sales are segmented into New Product revenue, which includes items like the Radot FPGA, and Mature Product revenue.

Here's a quick look at the recent and near-term revenue figures:

Metric	Q3 2025 Actual (Ending Sept 28, 2025)	Q4 2025 Guidance (Low End)	Q4 2025 Guidance (High End)
Total Revenue (Continuing Operations)	$2.0 million	$3.5 million	$6.0 million
New Product Revenue	Approximately $1.0 million	$2.5 million	$5.0 million
Mature Product Revenue	$1.1 million	$1.0 million	Not specified separately from New Product at high end

The total revenue for the last twelve months ending Q3 2025 was $16.18 million. This compares to the Q3 2025 revenue of $2.0 million, which was down 45.0% compared to the second quarter of 2025.

The Q4 2025 revenue guidance range of $3.5 million to $6 million is contingent on the timing of a key commercial contract valued at nearly $3 million. If that contract pushes into the first quarter of 2026, the Q4 total revenue would be at the lower end of the range, $3.5 million.

• Total revenue for the last twelve months ending Q3 2025 was $16.18 million.
• Q3 2025 revenue was $2.0 million.
• Q4 2025 guidance is set between $3.5 million and $6 million.

Finance: draft 13-week cash view by Friday.