QuickLogic Announces a New $1.5 Million eFPGA Contract

SAN JOSE, Calif. -- March 30, 2022 -- QuickLogic Corporation (NASDAQ: QUIK), a developer of ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP (eFPGA), and Endpoint AI solutions, today announced that it has won a new eFPGA contract. QuickLogic was awarded the contract as the company was able to produce customized eFPGA fabric quickly using its Australis eFPGA IP Generator and due to its prior experience with the process node. The contract is worth approximately $1.5 million, bringing the aggregate value of eFPGA contracts in the last three quarters alone to more than $5 million.

"The Australis IP Generator has tremendous potential across a broad range of industries, and we are seeing accelerating interest from potential new customers," said Brian Faith, president and CEO of QuickLogic. "Part of the reason we are able to provide this quick-turn, but highly flexible solution is the fact that we have decades of experience in delivering outstanding FPGA technology which is silicon-efficient, reliable, low power, and manufacturable at scale."

A small amount of contract revenue was recorded in the first quarter with the remainder to be recognized over the rest of fiscal 2022. There is no change to the first quarter fiscal 2022 revenue guidance range and outlook for fiscal 2022 growth that was provided during the Company's financial results conference call on February 16, 2022. The Company will discuss its first quarter fiscal 2022 results, and business outlook for the remainder of the year, when it holds its financial results conference call in early May.

About QuickLogic
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops low power, multi-core semiconductor platforms and Intellectual Property (IP) for Artificial Intelligence (AI), voice and sensor processing. The solutions include embedded FPGA IP (eFPGA) for hardware acceleration and pre-processing, and heterogeneous multi-core SoCs that integrate eFPGA with other processors and peripherals. The Analytics Toolkit from our recently acquired wholly owned subsidiary, SensiML Corporation, completes the end-to-end solution with accurate sensor algorithms using AI technology. The full range of platforms, software tools and eFPGA IP enables the practical and efficient adoption of AI, voice, and sensor processing across mobile, wearable, hearable, consumer, industrial, edge and endpoint IoT. For more information, visit www.quicklogic.com and https://www.quicklogic.com/blog.