QuickLogic Reports First Quarter Fiscal 2023 Results

 

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)






April 2, 2023



January 1, 2023


ASSETS









Current assets:









Cash, cash equivalents and restricted cash


$

20,902



$

19,201


Accounts receivable, net of allowance for doubtful accounts of $8 and $18, as of April 2, 2023 and January 1, 2023,respectively 2,090 2,689



2,090




2,689


Contract assets



2,328




1,987


Inventories



2,497




2,493


Prepaid expenses and other current assets



2,064




1,570


Total current assets



29,881




27,940


Property and equipment, net



442




465


Capitalized internal-use software, net



1,576




1,514


Right of use assets, net



1,592




1,397


Intangible assets, net



618




645


Non-marketable equity investment



300




300


Goodwill



185




185


Other assets



142




140


TOTAL ASSETS


$

34,736



$

32,586


LIABILITIES AND STOCKHOLDERS' EQUITY









Current liabilities:









Revolving line of credit


$

15,000



$

15,000


Trade payables



2,265




2,391


Accrued liabilities



1,706




1,509


Deferred revenue



299




272


Lease liabilities, current



1,005




850


Total current liabilities



20,275




20,022


Long-term liabilities:









Lease liabilities, non-current



596




544


Other long-term liabilities



190




125


Total liabilities



21,061




20,691


Commitments and contingencies







Stockholders' equity:









Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued and outstanding







Common stock, $0.001 par value; 200,000 authorized; 13,686 and 13,202 shares issued and outstanding as of April 2, 2023 and January 1, 2023, respectively



14




13


Additional paid-in capital



320,181




317,174


Accumulated deficit



(306,520)




(305,292)


Total stockholders' equity



13,675




11,895


TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY


$

34,736



$

32,586



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