QuickLogic Announces a New Approximately $1M eFPGA Contract

SAN JOSE, Calif., March 10, 2022 -- QuickLogic Corporation (NASDAQ: QUIK), a developer of ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP (eFPGA), and Endpoint AI solutions, today announced that it has won a new eFPGA contract worth approximately $1 million.

This new contract was made possible by the Company's Australis™ eFPGA IP Generator that was launched in September 2021. The tool can quickly generate custom eFPGA IP, optimized for power, performance and area, for nearly any foundry/process node combination. Australis is a culmination of the Company's three decades of experience in delivering outstanding FPGA technology used to create devices which are silicon-efficient, reliable, high quality, and manufacturable at scale.

"With the Australis eFPGA IP Generator, we provide developers an easy, highly automated way to define and implement customized eFPGA IP, enabling QuickLogic to work at the speed of the customer," said Brian Faith, president, and CEO of QuickLogic. "The delivery of the eFPGA IP within just two to three months is only possible with our deep FPGA / eFPGA domain experience and the automation engendered by Australis. We continue to experience growing interest in Australis across multiple market segments and believe there will be many more eFPGA-based contracts in 2022."

The contract revenue is expected to be recognized during the first half of fiscal 2022. The first quarter fiscal 2022 revenue guidance range and outlook for fiscal 2022 growth, previously provided during the Company's financial results conference call on February 16, 2022, remains unchanged.

About QuickLogic

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops low power, multi-core semiconductor platforms and Intellectual Property (IP) for Artificial Intelligence (AI), voice and sensor processing. The solutions include embedded FPGA IP (eFPGA) for hardware acceleration and pre-processing, and heterogeneous multi-core SoCs that integrate eFPGA with other processors and peripherals. The Analytics Toolkit from our recently acquired wholly owned subsidiary, SensiML Corporation, completes the end-to-end solution with accurate sensor algorithms using AI technology. The full range of platforms, software tools and eFPGA IP enables the practical and efficient adoption of AI, voice, and sensor processing across mobile, wearable, hearable, consumer, industrial, edge and endpoint IoT. For more information, visit www.quicklogic.com and https://www.quicklogic.com/blog/.