QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

December 31,
2023

January 1, 2023

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$

24,606

$

19,201

Accounts receivable, net of allowance for doubtful accounts of $34 and $18, as of
December 31, 2023 and January 1, 2023, respectively

1,625

2,689

Contract assets

3,609

1,987

Note receivable

1,200

—

Inventories

2,029

2,493

Prepaid expenses and other current assets

1,561

1,570

Total current assets

34,630

27,940

Property and equipment, net

9,079

1,398

Capitalized internal-use software, net

1,938

1,514

Right of use assets, net

981

464

Intangible assets, net

537

645

Non-marketable equity investment

300

300

Goodwill

185

185

Other assets

142

140

TOTAL ASSETS

$

47,792

$

32,586

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Revolving line of credit

$

20,000

$

15,000

Trade payables

4,657

2,391

Accrued liabilities

2,673

1,509

Deferred revenue

1,052

272

Note payable, current

946

448

Lease liabilities, current

302

402

Total current liabilities

29,630

20,022

Long-term liabilities:

Note payable, non-current

461

439

Lease liabilities, non-current

681

105

Other long-term liabilities

125

125

Total liabilities

30,897

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; 14,118 and 13,202 shares issued
and outstanding as of December 31, 2023 and January 1, 2023, respectively

14

13

Additional paid-in capital

322,436

317,174

Accumulated deficit

(305,555)

(305,292)

Total stockholders' equity

16,895

11,895

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

47,792

$

32,586