QuickLogic Reports Financial Results for its Fiscal Third Quarter 2024

 

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)




September 29, 2024



December 31, 2023


ASSETS









Current assets:









Cash, cash equivalents and restricted cash


$

22,364



$

24,606


Accounts receivable, net of allowance for doubtful accounts of $24 and $34, as of September 29, 2024 and December 31, 2023, respectively



657




1,625


Contract assets



2,331




3,609


Note receivable, current






1,200


Inventories



1,780




2,029


Prepaid expenses and other current assets



2,919




1,561


Total current assets



30,051




34,630


Property and equipment, net



14,137




8,948


Capitalized internal-use software, net



2,352




2,069


Right of use assets, net



828




981


Intangible assets, net



457




537


Non-marketable equity investment



300




300


Goodwill



185




185


Note receivable, non-current



1,260





Other assets



143




142


TOTAL ASSETS


$

49,713



$

47,792


LIABILITIES AND STOCKHOLDERS' EQUITY









Current liabilities:









Revolving line of credit


$

20,000



$

20,000


Trade payables



2,877




4,657


Accrued liabilities



1,457




2,673


Deferred revenue



449




1,052


Notes payable, current



1,798




946


Lease liabilities, current



275




302


Total current liabilities



26,856




29,630


Long-term liabilities:









Lease liabilities, non-current



529




681


Notes payable, non-current



1,314




461


Other long-term liabilities



125




125


Total liabilities



28,824




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; 14,697 and 14,118 shares issued and outstanding as of September 29, 2024 and December 31, 2023, respectively



15




14


Additional paid-in capital



329,965




322,436


Accumulated deficit



(309,091)




(305,555)


Total stockholders' equity



20,889




16,895


TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY


$

49,713



$

47,792



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