QuickLogic Reports 41% Year-over-Year Revenue Growth for Second Quarter Fiscal 2024

 

QUICKLOGIC CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(Unaudited)




June 30, 2024



December 31,
2023


ASSETS









Current assets:









Cash, cash equivalents and restricted cash


$

23,266



$

24,606


Accounts receivable, net of allowance for doubtful accounts of $24 and $34, as of June
30, 2024 and December 31, 2023, respectively



928




1,625


Contract assets



2,254




3,609


Inventories



1,751




2,029


Prepaid expenses and other current assets



1,686




1,561


Total current assets



29,885




33,430


Property and equipment, net



12,043




8,948


Capitalized internal-use software, net



2,287




2,069


Right of use assets, net



896




981


Intangible assets, net



484




537


Non-marketable equity investment



300




300


Goodwill



185




185


Note receivable



1,229




1,200


Other assets



142




142


TOTAL ASSETS


$

47,451



$

47,792


LIABILITIES AND STOCKHOLDERS' EQUITY









Current liabilities:









Revolving line of credit


$

20,000



$

20,000


Trade payables



1,449




4,657


Accrued liabilities



1,277




2,673


Deferred revenue



756




1,052


Notes payable, current



890




946


Lease liabilities, current



266




302


Total current liabilities



24,638




29,630


Long-term liabilities:









Lease liabilities, non-current



609




681


Notes payable, non-current



274




461


Other long-term liabilities



125




125


Total liabilities



25,646




30,897


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; 14,458 and 14,118 shares issued
and outstanding as of June 30, 2024 and December 31, 2023, respectively



14




14


Additional paid-in capital



328,788




322,436


Accumulated deficit



(306,997)




(305,555)


Total stockholders' equity



21,805




16,895


TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY


$

47,451



$

47,792



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