QUICKLOGIC CORPORATION

SUPPLEMENTAL RECONCILIATIONS OF US GAAP AND NON-GAAP FINANCIAL MEASURES

(in thousands, except per share amounts and percentages)

(Unaudited)

Three Months Ended

Year Ended

January 3,
2021

December
29, 2019

September 27,
2020

January 3,
2021

December
29, 2019

US GAAP loss from operations

$

(2,866)

$

(2,928)

$

(2,046)

$

(10,869)

$

(15,363)

Adjustment for stock-based compensation within:

Cost of revenue

82

19

37

162

78

Research and development

597

534

51

670

2,242

Selling, general and administrative

459

101

170

907

824

Restructuring expenses and asset write-
offs (1)

129

2

120

762

4

Non-GAAP loss from operations

$

(1,599)

$

(2,272)

$

(1,668)

$

(8,368)

$

(12,215)

US GAAP net loss

$

(2,942)

$

(3,063)

$

(2,065)

$

(11,151)

$

(15,444)

Adjustment for stock-based
compensation within:

Cost of revenue

82

19

37

162

78

Research and development

597

534

51

670

2,242

Selling, general and administrative

459

101

170

907

824

Restructuring expenses and asset write-
offs (1)

129

2

120

762

4

Non-GAAP net loss

$

(1,675)

$

(2,407)

$

(1,687)

$

(8,650)

$

(12,296)

US GAAP net loss per share, basic and
diluted

$

(0.27)

$

(0.37)

$

(0.19)

$

(1.14)

$

(2.02)

Adjustment for stock-based
compensation

0.11

0.08

0.03

0.18

0.42

Restructuring expenses and asset write-
offs (1)

0.01

*

0.01

0.08

*

Non-GAAP net loss per share, basic and diluted

$

(0.15)

$

(0.29)

$

(0.15)

$

(0.88)

$

(1.60)

US GAAP gross margin percentage

48.2

%

64.9

%

51.9

%

49.2

%

57.3

%

Adjustment for stock-based
compensation included in cost of revenue

3.3

%

0.7

%

2.0

%

1.9

%

0.7

%

Non-GAAP gross margin percentage

51.5

%

65.6

%

53.9

%

51.1

%

58.0

%