QUICKLOGIC CORPORATION

SUPPLEMENTAL RECONCILIATIONS OF US GAAP AND NON-GAAP FINANCIAL MEASURES

(in thousands, except per share amounts and percentages)

(Unaudited)

Three Months Ended

March 29, 2020

March 31, 2019

December 29, 2019

US GAAP loss from operations

$

(3,062)

$

(3,709)

$

(2,928)

Adjustment for stock-based compensation within:

Cost of revenue

12

26

19

Research and development

(464)

655

534

Selling, general and administrative

54

270

101

Restructuring expenses

479

—

—

Adjustment for the write-off of equipment:

Selling, general and administrative

—

—

2

Non-GAAP loss from operations

$

(2,981)

$

(2,758)

$

(2,272)

US GAAP net loss

$

(3,165)

$

(3,476)

$

(3,063)

Adjustment for stock-based compensation within:

Cost of revenue

12

26

19

Research and development

(464)

655

534

Selling, general and administrative

54

270

101

Restructuring expenses

479

—

—

Adjustment for the write-off of equipment:

Selling, general and administrative

—

—

2

Non-GAAP net loss

$

(3,084)

$

(2,525)

$

(2,407)

US GAAP net loss per share (1)

$

(0.38)

$

(0.50)

$

(0.37)

Adjustment for stock-based compensation

(0.05)

0.13

0.08

Restructuring expenses

0.06

—

—

Non-GAAP net loss per share

$

(0.37)

$

(0.37)

$

(0.29)

US GAAP gross margin percentage

51.7

%

62.0

%

64.9

%

Adjustment for stock-based compensation

0.5

%

0.8

%

0.7

%

Non-GAAP gross margin percentage

52.2

%

62.8

%

65.6

%

⁽¹⁾

Net loss per share is adjusted to reflect 1-for-14 reverse stock split effected on December 23, 2019.