QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

January 1, 2023

January 2, 2022

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$             19,201

$             19,605

Accounts receivable, net

4,676

1,294

Inventories

2,493

2,078

Other current assets

1,570

1,181

Total current assets

27,940

24,158

Property and equipment, net

465

499

Capitalized internal-use software, net

1,514

1,241

Right of use assets

1,397

1,529

Intangible assets, net

645

752

Goodwill

185

185

Non-marketable equity investment

300

300

Other assets

140

309

TOTAL ASSETS

$             32,586

$             28,973

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Revolving line of credit

$             15,000

$             15,000

Trade payables

2,391

934

Accrued liabilities

1,509

1,665

Deferred revenue

272

455

Lease liabilities, current

850

819

Total current liabilities

20,022

18,873

Long-term liabilities:

Lease liabilities, non-current

544

744

Other long-term liabilities

125

147

Total liabilities

20,691

19,764

Stockholders' equity:

Common stock, par value

13

12

Additional paid-in capital

317,174

310,222

Accumulated deficit

(305,292)

(301,025)

Total stockholders' equity

11,895

9,209

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$             32,586

$             28,973