One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
QuickLogic Corporation
QUIK · NCM · Technology · Semiconductors
Current price
$10.03
52-week range
$5.28 - $24.33
Market cap
$183.73M
Balance sheet
Healthy
-29.01x Concerning
Net cash $10.60M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 18.3% last year.
- Risk Return on equity was -36.2% last year — the company lost money on shareholders' equity.
- Risk Operating margin compressed from -23.5% to -31.0% over 3 years.
What this company does
QuickLogic Corporation
QuickLogic designs specialized, flexible computer chips and primarily earns money by licensing its intellectual property (the 'blueprints' for its chip designs) to other companies, particularly those in the defense and government sectors. As a "fabless" company, it avoids the high costs of running its own factories, which allows it to focus on creating valuable designs for advanced technologies like artificial intelligence.
How the company got here
Founded in 1988, QuickLogic started as a "fabless" semiconductor company, meaning it designs chips but hires other companies to actually build them. It went public on the Nasdaq stock exchange in 1999. Over the years, the company has shifted its focus, moving from creating flexible chips for mobile devices to specializing in intellectual property and highly specialized chips for defense, aerospace, and artificial intelligence applications. A key turning point was its move to embrace open-source tools, making its technology more accessible to a wider range of innovators.
What it actually does
QuickLogic designs highly specialized, low-power semiconductor chips and the blueprints for parts of chips, which is known as intellectual property (IP). Think of them as architects for tiny, programmable electronic brains that can be customized for specific tasks. Their technology is not in the phone you buy at the store, but it might be in the equipment used for defense systems, industrial robots, or smart devices that need to perform tasks efficiently without draining the battery. The company is "fabless," which means it focuses on designing these technologies and then outsources the manufacturing (the "fab" or fabrication) to other companies.
eFPGA IP Licensing
This is a major and growing part of QuickLogic's business, where it licenses its embedded Field-Programmable Gate Array (eFPGA) designs to other companies. An eFPGA is like a blank, reconfigurable section on a chip that a customer can program to perform a specific task, offering flexibility after the chip is made. Customers pay QuickLogic for the right to use these blueprints (the intellectual property or IP) in their own chip designs, often for specialized markets like data centers or defense. This segment generates revenue from upfront licensing fees and professional services to help integrate the technology.
FPGA Devices and SoCs
In this segment, QuickLogic sells its own physical chips, known as Field-Programmable Gate Arrays (FPGAs) and Systems-on-a-Chip (SoCs). Unlike a standard chip designed for one purpose, an FPGA is a flexible chip that can be reprogrammed by the customer for different functions. This is particularly useful in industries like aerospace and defense where systems need to be updated or adapted over long periods. This part of the business includes specialized, radiation-hardened chips designed to withstand extreme environments in space or military applications.
Software and Services
This smaller part of the business provides software and support services related to its chips and IP. For example, through its subsidiary SensiML, QuickLogic offers artificial intelligence (AI) and machine learning software that helps developers create smart sensor applications for devices like wearables or industrial monitors. Revenue here comes from software-as-a-service (SaaS) subscriptions and fees for helping customers develop initial concepts.
What management is betting on now
Management is heavily focused on expanding its eFPGA intellectual property (IP) licensing business, especially for advanced applications. A major priority is its partnership with Intel to provide eFPGA IP for their cutting-edge manufacturing processes, which opens up high-value markets. The company is also betting on its specialized, radiation-hardened FPGAs for government, defense, and space programs, which provide a stable base of revenue through large contracts. Finally, they are developing a "storefront" model, aiming to sell more standardized, finished semiconductor devices rather than relying solely on custom development contracts, which they hope will lead to more predictable revenue.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-83.00K
FY2024 Q4
$-1.17M
FY2025 Q1
$-3.48M
FY2025 Q2
$-726.00K
FY2025 Q3
$-1.25M
FY2025 Q4
$-4.80M
FY2026 Q1
$63.00K
FY2026 Q2
$999.00K
Revenue
$5.48M
Net income
$-887.00K
Diluted EPS
-0.05
Operating cash flow
$1.47M
Free cash flow
$999.00K
Fetching…
Sources
Revenue
$5.05M
Net income
$-2.21M
Diluted EPS
-0.13
Operating cash flow
$721.00K
Free cash flow
$63.00K
Fetching…
Sources
Revenue
$3.73M
Net income
$-3.28M
Diluted EPS
-0.36
Operating cash flow
$-2.52M
Free cash flow
$-4.80M
Fetching…
Sources
Revenue
$2.03M
Net income
$-4.01M
Diluted EPS
-0.24
Operating cash flow
$131.00K
Free cash flow
$-1.25M
Fetching…
Sources
Revenue
$3.69M
Net income
$-2.67M
Diluted EPS
-0.17
Operating cash flow
$628.00K
Free cash flow
$-726.00K
Fetching…
Sources
Revenue
$4.33M
Net income
$-2.19M
Diluted EPS
-0.14
Operating cash flow
$-2.13M
Free cash flow
$-3.48M
Fetching…
Sources
Revenue
$5.71M
Net income
$-305.00K
Diluted EPS
-0.02
Operating cash flow
$116.00K
Free cash flow
$-1.17M
Fetching…
Sources
Revenue
$4.27M
Net income
$-2.09M
Diluted EPS
-0.14
Operating cash flow
$-16.00K
Free cash flow
$-83.00K
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $10.03
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $10.6M - more cash than debt. Interest coverage -29.0x.
Net debt
$-10.60M
Interest coverage
-29.01x
QuickLogic Corporation's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
QUIK
BASELINE
QuickLogic Corporation
Total debt $7.88M Interest coverage -29.01x This is the baseline the peer rows are being compared against.
Total debt $17.42M Interest coverage -28.58x Neither company has much profit cushion over interest right now.
Total debt $27.98M Interest coverage -55.74x Neither company has much profit cushion over interest right now.
Total debt $593.70M Interest coverage 12.64x This peer still has a real interest-payment cushion, while QUIK does not.
Total debt $38.08M Interest coverage 3.68x This peer still has a real interest-payment cushion, while QUIK does not.
What you should know
The case for and against QUIK
1 Reward
2 Risks
Rewards
-
Revenue grew 18.3% last year.
Risks
-
Return on equity was -36.2% last year — the company lost money on shareholders' equity.
-
Operating margin compressed from -23.5% to -31.0% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
95.52x
P/B
5.88x
P/S
11.28x
EV/EBITDA
-33.04x
PEG ratio
1.50x
Profitability
How much profit each dollar creates
Gross margin
27.3%
Operating margin
-31.0%
Net margin
-80.1%
ROE
-36.2%
ROA
-15.1%
Health
Liquidity and balance-sheet strength
Debt / equity
0.25x
Current ratio
2.15x
Quick ratio
1.85x
Total debt
$7.88M
Total cash
$18.48M
Growth
How the business has been compounding
Revenue TTM
$16.30M
Revenue 5Y CAGR
2.1%
EPS TTM
-0.62
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-202.00K
Free CF TTM
$-6.43M
FCF margin
-39.4%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—