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

December
31, 2023

January 1,
2023

October 1,
2023

December
31, 2023

January 1,
2023

US GAAP income (loss) from operations

$

2,116

$

(924)

$

1,280

$

70

$

(3,800)

Adjustment for stock-based compensation within:

Cost of revenue

89

55

73

328

272

Research and development

82

327

171

595

652

Selling, general and administrative

434

306

372

1,599

1,111

Non-GAAP income (loss) from operations

$

2,721

$

(236)

$

1,896

$

2,592

$

(1,765)

US GAAP net income (loss)

$

2,042

$

(1,232)

$

1,192

$

(263)

$

(4,267)

Adjustment for stock-based compensation within:

Cost of revenue

89

55

73

328

272

Research and development

82

327

171

595

652

Selling, general and administrative

434

306

372

1,599

1,111

Non-GAAP net income (loss)

$

2,647

$

(544)

$

1,808

$

2,259

$

(2,232)

US GAAP net income (loss) per share, basic

$

0.15

$

(0.09)

$

0.09

$

(0.02)

$

(0.34)

Adjustment for stock-based compensation

0.04

0.05

0.04

0.19

0.16

Non-GAAP net income (loss) per share, basic

$

0.19

$

(0.04)

$

0.13

$

0.17

$

(0.18)

US GAAP net income (loss) per share, diluted

$

0.14

$

(0.09)

$

0.08

$

(0.02)

$

(0.34)

Adjustment for stock-based compensation

0.04

0.05

0.05

0.19

0.16

Non-GAAP net income (loss) per share, diluted

$

0.18

$

(0.04)

$

0.13

$

0.17

$

(0.18)

US GAAP gross margin percentage

77.1

%

51.9

%

76.9

%

68.3

%

54.4

%

Adjustment for stock-based compensation included
in cost of revenue

1.2

%

1.3

%

1.1

%

1.6

%

1.7

%

Non-GAAP gross margin percentage

78.3

%

53.2

%

78.0

%

69.9

%

56.1

%