QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

October 1, 2023

January 1, 2023

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$

18,625

$

19,201

Accounts receivable, net of allowance for doubtful accounts of $16 and $18, as of
October 1, 2023 and January 1, 2023, respectively

481

2,689

Contract assets

4,015

1,987

Note receivable

1,186

—

Inventories

2,030

2,493

Prepaid expenses and other current assets

1,726

1,570

Total current assets

28,063

27,940

Property and equipment, net

4,547

465

Capitalized internal-use software, net

1,666

1,514

Right of use assets, net

1,082

1,397

Intangible assets, net

564

645

Non-marketable equity investment

300

300

Goodwill

185

185

Other assets

142

140

TOTAL ASSETS

$

36,549

$

32,586

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Revolving line of credit

$

15,000

$

15,000

Trade payables

3,851

2,391

Accrued liabilities

2,047

1,509

Deferred revenue

333

272

Lease liabilities, current

821

850

Total current liabilities

22,052

20,022

Long-term liabilities:

Lease liabilities, non-current

284

544

Other long-term liabilities

173

125

Total liabilities

22,509

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; 13,906 and 13,202 shares issued
and outstanding as of October 1, 2023 and January 1, 2023, respectively

14

13

Additional paid-in capital

321,623

317,174

Accumulated deficit

(307,597)

(305,292)

Total stockholders' equity

14,040

11,895

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

36,549

$

32,586