Release Date: February 25, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide more details on the expected revenue increase in Q2 2025 and the factors contributing to it? A: Brian Faith, CEO, explained that the anticipated revenue increase in Q2 2025 is primarily due to two significant IP design contracts. One is a $1.1 million contract expected to be fully recognized in Q2, and the other is related to Intel 18A, valued in the mid-seven figures, also expected to be recognized in Q2. These contracts, combined with the current revenue baseline, suggest Q2 revenue will exceed $6 million, aligning with non-GAAP profitability and positive cash flow projections.
Q: How is QuickLogic planning to leverage the acquisition of FlexLogics by Analog Devices? A: Brian Faith, CEO, mentioned that QuickLogic has hired Andy Jarros, former VP of Sales at FlexLogics, to capitalize on the market void left by FlexLogics' acquisition. Andy's knowledge of the market and existing relationships are expected to accelerate QuickLogic's sales efforts, as evidenced by a recent $1.1 million contract win that he helped secure.
Q: What is the significance of Intel 18A for QuickLogic, and how do you see its potential? A: Brian Faith, CEO, highlighted that Intel 18A represents a significant opportunity due to its advanced process technology, which is in demand by the U.S. government and defense sectors. QuickLogic is the only company offering EFPGA hard IP optimized for Intel 18A, positioning it well to capture multiple customer engagements in this space. The strategic interest in onshore, advanced process technology supports the potential success of Intel 18A.
Q: Can you elaborate on the potential broader use of EFPGA in AI inferencing applications? A: Brian Faith, CEO, explained that QuickLogic's EFPGA technology can significantly reduce energy consumption in AI inferencing applications, particularly in battery-powered systems. This is based on joint research with ETH Zurich, which demonstrated a 20X energy savings using EFPGA for computationally intensive tasks. This capability is attracting interest from customers in various verticals, including a well-known international company.
Q: How do you expect the new distributors to impact QuickLogic's revenue in 2025? A: Brian Faith, CEO, stated that the new distributors are expected to contribute to revenue growth in 2025 by offloading direct sales resources and focusing on strategic accounts. They are generating revenue from both IP licensing and EOSS 3 products, with ongoing opportunities in the pipeline. This approach allows QuickLogic's direct sales team to concentrate on more strategic sales efforts.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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