QUIK - QuickLogic secures new $3M eFPGA Contract

QuickLogic (NASDAQ:QUIK) has won a new eFPGA contract for a previously announced foundry / process node combination, worth ~$3M. This marks the largest eFPGA contract to date, bringing the aggregate value of all eFPGA engagements since July 2021 to over $9M. Initial revenue from this contract is expected to be recognized beginning this quarter and continue through June 2025, with follow-on revenue expected after the contract period. The semiconductor firm will leverage its Australis eFPGA IP Generator to implement the customer's specific eFPGA configuration. In other news, the company reaffirmed its Q2 revenue guidance range of $4.5M, plus or minus 10%, and its outlook for fiscal 2022 growth, which were provided during its financial results conference call on May 17, 2022. QuickLogic recently reported better-than-expected Q1 results

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QuickLogic secures new $3M eFPGA Contract