QUICKLOGIC Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data QUICKLOGIC Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	11.4	12.1	12.6	10.3	8.63	12.7	16.2	21.2	19.7	13.8
Cost of revenue	7.65	6.63	6.3	4.41	4.39	5.27	7.38	6.71	7.56	10.7
Gross profit	3.77	5.52	6.33	5.91	4.25	7.42	8.8	14.5	12.1	3.03
Research and development	12.3	9.57	9.95	12.4	7.54	6.93	5	6.45	5.85	5.3
Selling, general and administrative	10.3	9.9	9.98	8.92	6.82	8.01	7.6	7.97	8.77	9.28
Selling and marketing							0.04	0.04	0.04	0.08
Operating income	-18.8	-14	-13.6	-15.4	-10.9	-7.52	-3.8	0.07	-2.52	-11.9
Interest expense	0.18	0.12	0.11	0.35	0.33	0.13	0.15	0.22	0.41	0.37
Other non-operating income	-0.11	0.02	0.08	0.19	0.1	-0.04	-0.22	-0.12	0.02	-0.03
Pre-tax income	-19.1	-14	-13.6	-15.5	-11.1	-6.5	-4.17	-0.26	-2.9	-12.3
Income tax	0.07	0.09	0.15	-0.08	0.05	0.12	0.1	0	0	0.02
Income from continuing operations									-2.91	-12.3
Net income	-19.1	-14.1	-13.8	-15.4	-11.2	-6.62	-4.27	-0.26	-3.84	-14.8
EBITDA	-17.5	-12.6	-12.3	-14.2	-10.1	-6.51	-2.65	1.88	1.46	-6.55
EPS, basic	-0.29	-0.18	-2.16	-2.02	-1.14	-0.57	-0.34	-0.02	-0.26	-0.91
EPS, diluted	-0.29	-0.18	-2.16	-2.02	-1.14	-0.57	-0.34	-0.02	-0.26	-0.91
Shares, basic (weighted)	65.4	77.3	6.37	7.66	9.78	0.01	12.6	13.5	14.5	16.2
Shares, diluted (weighted)	65.4	77.3	6.37	7.66	9.78	11.5	12.6	13.5	14.5	16.2

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	14.9	16.5	26.4	21.5	22.7	19.6	19.2	24.6	21.9	18.8
Receivables	0.84	0.93	2.21	1.99	1.69	1	2.69	1.63	2.43	2.81
Inventory	2.02	3.56	3.84	3.26	2.69	2.08	2.49	2.03	0.94	0.96
Other current assets	0.16	0.16	0.29	1.57	0.18	0.26	0.27	0.14	0.13	0.19
Total current assets	18.8	22	34.3	28.4	28.2	24.2	27.9	34.6	29.6	24.2
Property, plant and equipment	2.77	2.38	1.45	0.83	0.55	0.5	1.4	8.95	15.7	18.2
Lease right-of-use assets				2.2	1.13		0.5	0.98	0.76	0.46
Goodwill				0.19	0.19	0.19	0.19	0.19	0.19
Intangible assets				1.01	0.86	0.75	0.65	0.54	0.38	0.34
Other non-current assets	0.23	0.25	0.35	0.31	0.28	0.31	0.14	0.14	0.12	0.24
Total assets	21.8	24.6	36.1	33.4	32.9	29	32.6	47.8	51.9	44.8
Accounts payable	2.02	1.44	1.49	1	0.94	0.93	2.39	4.66	3.1	2.25
Accrued liabilities	1.58	1.65	1.9	1.13	1.34	1.67	1.51	2.67	1.59	1.78
Deferred revenue	0			0.16	0.05	0.46	0.27	1.05	0.44	0.06
Short-term debt	6.21	6.3	15.3
Total current liabilities	9.81	9.39	18.7	18	18	18.9	20	29.6	25.4	21.3
Long-term debt	0	0.36	0.11		1.19	0	0.44	0.46	1.2	0.93
Lease liabilities								0.68	0.45
Other non-current liabilities	0.05	0.01	0.02		0	0.15	0.13	0.13	0
Total liabilities	9.86	9.76	18.8	19.6	20.4	19.8	20.7	30.9	27	22.3
Total debt	6.21	6.65	15.4					1.4	3.1	2.98
Paid-in capital	252	269	285	297	307	310	317	322	334	347
Retained earnings	-240	-254	-268	-283	-294	-301	-305	-306	-309	-324
Shareholders' equity	12	14.9	17.3	13.8	12.5	9.21	11.9	16.9	24.9	22.5
Total equity	12	14.9	17.3	13.8	12.5	9.21	11.9	16.9	24.9	22.5
Total liabilities and equity	21.8	24.6	36.1	33.4	32.9	29	32.6	47.8	51.9	44.8
Shares outstanding	68.1	80.5	6.82	8.33	11.1	11.9	13.2	14.1	15.3	17.3

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-19.1	-14.1	-13.8	-15.4	-11.2	-6.62	-4.27	-0.26	-3.84	-14.8
Depreciation and amortization	1.33	1.37	1.28	1.2	0.82	1	1.15	1.81	3.98	5.37
Stock-based compensation	1.58	1.44	1.9	3.14	1.74	2.53	2.04	2.52	4.61	3.32
Deferred income tax	-0.01	0	0	-0.19	0.01	0.09	0.06	-0	0.03	0
Change in receivables	0.76	-0.09	-1.28	0.22	0.3	0.63	-1.71	1.05	-0.81	-0.38
Change in inventory	0.57	-1.77	-0.66	0.48	0.37	0.39	-0.64	-0.14	0.29	-0.1
Cash from operations	-15.3	-12.9	-12.6	-11.6	-6.74	-2.86	-4.06	4.85	0.03	-3.26
Capital expenditures	-1.95	-0.64	-0.35	-0.58	-0.25	-0.18	-0.14	-5.47	-5.4	-3.16
Cash from investing	-1.95	-0.64	-0.29	-0.92	-1.05	-0.71	-0.81	-6.34	-6.47	-3.69
Debt issued			0	0	1.19
Debt repaid						-0.4	-0.5	-0.7	-1.38	-2.15
Stock issued	10.6	17.6	16.2	9.44	9.3	1.08	4.68	2.31	6.81	9.25
Cash from financing	12.9	15.2	22.9	7.6	9	0.43	4.47	6.9	3.71	3.91
Net change in cash	-4.27	1.66	9.94	-4.92	1.2	-3.14	-0.4	5.41	-2.73	-3.04
Free cash flow	-17.2	-13.6	-13	-12.2	-7	-3.04	-4.2	-0.62	-5.38	-6.43
Interest paid	0.18	0.11	0.09	0.3	0.28	0.08	0.09	0.08	0.34	0.37
Income taxes paid	0.13	0.16	0.17	0.13	0.02	0.07	0.02	0.01	0.03	0.02

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 28, 2026; growth uses fiscal years. Valuation uses the share price of $10.96 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	27.3%	Gross profit / revenue.
Operating margin	-69.0%	Operating income / revenue.
Pre-tax margin	-65.4%	Pre-tax income / revenue.
Net margin	-80.1%	Net income / revenue.
Return on equity (ROE)	-41.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-30.4%	Net income / average total assets.
Return on invested capital (ROIC)	-57.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	36.2%	Research and development expense / revenue.
SG&A / revenue	60.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	14.9%	Stock-based compensation (from the cash flow statement) / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-29.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-74.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-29.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-6.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-549.7%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-12,181.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-9.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	23.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	12.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-13.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	11.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	11.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	8.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	10.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.15x	Current assets / current liabilities.
Quick ratio	1.85x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.71x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.09x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	6.4%	Total debt / total assets.
Liabilities / assets	27.3%	Total liabilities / total assets.
Net debt	-$15.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-38.8x	Operating income / interest expense.
Working capital	$12.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$30.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.38x	Revenue / average total assets.
Fixed asset turnover	0.93x	Revenue / average property, plant and equipment.
Inventory turnover	11.7x	Cost of revenue / average inventory.
Days inventory	31 days	365 x average inventory / cost of revenue.
Receivables turnover	11.0x	Revenue / average receivables.
Days sales outstanding	33 days	365 x average receivables / revenue.
Days payables	68 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-4 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.72	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$0.90	Revenue / diluted weighted shares.
Book value per share	$1.71	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.69	Tangible book value / shares outstanding.
Cash per share	$1.01	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$200.8M	Share price x shares outstanding.
Enterprise value	$185.0M	Market cap + total debt - cash - short-term investments.
P/S	12.3x	Market cap / revenue.
P/B	6.43x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	6.49x	Market cap / tangible book value, when positive.
EV/Sales	11.4x	Enterprise value / revenue.
Earnings yield	-6.5%	Net income / market cap (the inverse of P/E).

What was QUICKLOGIC Corp's revenue in fiscal 2025?

QUICKLOGIC Corp reported revenue of $13.8M for fiscal 2025, 29.9% lower than the year before.

Was QUICKLOGIC Corp profitable in fiscal 2025?

No. It reported a net loss of $14.8M.

How much free cash flow did QUICKLOGIC Corp generate in fiscal 2025?

Cash from operations of $3.3M minus capital expenditures of $3.2M left free cash flow of -$6.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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