QuickLogic Reports Q2 Earnings with Revenue Growth, Narrowed Guidance
QuickLogic (QUIK) reported Q2 revenue of $5.5 million in fiscal 2026, reflecting an 8.5% sequential increase and a strong year-over-year growth of 48.7%. New product revenue reached $4.7 million, growing by nearly 60%, while mature products contributed $0.8 million with modest gains. The company exceeded its gross margin guidance at 46.8%, up from 31% in the same period a year ago. Despite these positive financials, QuickLogic's results were slightly below expectations due to delays in contract extensions and uncertainties around an Intel 18A-based ASIC project. Management raised full-year revenue growth guidance to between 70-80%, citing strong existing contracts and orders. However, Q3 is expected to be flat at $5.5 million as a result of delayed deals. The company also announced a U.S. government contract with an $89 million ceiling value that will significantly impact fourth-quarter revenue. QuickLogic ended the quarter with $13.5 million in net cash and raised its operating expense guidance for 2026 due to increased R&D spending.
