QuickLogic's 2024Q4 Earnings Call: Unpacking Contradictions on Intel 18A, Revenue Projections, and Sales Funnel Dynamics

These are the key contradictions discussed in QuickLogic's latest 2024Q4 earnings call, specifically including: Intel 18A Opportunities and Strategic Positioning, Revenue Expectations, and Funnel Metrics:



Revenue and Profitability Challenges:
- QuickLogic reported Q4 2024 revenue of $5.7 million, below the midpoint of their guidance, and forecast lower Q1 2025 revenue.
- The reduction in revenue was due to external delays pushing out key contract awards.

Rebound in Revenue and Profitability:
- The company anticipates a significant rebound in revenue and profitability beginning in Q2 2025, driven by new contracts.
- This includes a $1.1 million eFPGA Hard IP contract with a new defense industrial base customer and contracts with multiple new Defense Industrial Base customers.

Intel 18A Opportunities:
- QuickLogic expects to be awarded the first of two eFPGA Hard IP contracts with Intel in weeks, with all revenue recognition in Q2 2025.
- The investments made during 2024 to be the only supplier of eFPGA Hard IP for Intel 18A are expected to provide solid returns.

Competitive Landscape and Market Opportunities:
- The acquisition of FlexLogix by Analog Devices has created a market void, which QuickLogic aims to fill with its eFPGA IP.
- With the hire of FlexLogix's former VP of Sales, QuickLogic is focusing on converting existing FlexLogix customers to its technology.