Operating margins have deteriorated to -93.3% as of 2025Q4, reflecting a structural inability to cover fixed costs despite the company's strategic shift.
QuickLogic Corporation (QUIK) annual income statement — 28-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Sales/Revenue | 16.3M | 13.77M | 20.11M | 21.2M | 16.18M | 12.69M | 8.63M | 10.31M | 12.63M | 12.15M | 11.42M | 18.96M | 27.84M | 26.07M | 14.94M | 20.97M | 26.2M | 15.07M | 31.91M | 34.42M | 34.92M | 48.26M | 44.61M | 41.97M | 32.58M | 32.31M | 53.34M | 39.78M | 30M |
| Revenue Growth % | -9.42% | -31.51% | -5.12% | 31.01% | 27.55% | 46.92% | -16.26% | -18.36% | 3.95% | 6.37% | -39.75% | -31.92% | 6.8% | 74.46% | -28.73% | -19.96% | 73.8% | -52.76% | -7.28% | -1.45% | -27.63% | 8.17% | 6.3% | 28.81% | 0.85% | -39.44% | 34.08% | 32.62% | - |
| Cost of Goods Sold | 11.84M | 10.74M | 8.23M | 6.71M | 7.38M | 5.27M | 4.39M | 4.41M | 6.29M | 6.63M | 7.65M | 11.41M | 16.8M | 17.3M | 7.88M | 8.52M | 9.61M | 7.71M | 14.94M | 19.41M | 17.74M | 18.12M | 20.88M | 21.02M | 19.57M | 21.82M | 21.07M | 14.96M | 12.6M |
| COGS % of Revenue | - | 77.97% | 40.9% | 31.66% | 45.6% | 41.51% | 50.8% | 42.73% | 49.85% | 54.55% | 66.96% | 60.2% | 60.32% | 66.37% | 52.72% | 40.62% | 36.68% | 51.18% | 46.82% | 56.4% | 50.79% | 37.56% | 46.8% | 50.09% | 60.07% | 67.54% | 39.5% | 37.59% | 42% |
| Gross Profit | 4.45M | 3.03M | 11.89M | 14.49M | 8.8M | 7.42M | 4.25M | 5.91M | 6.33M | 5.52M | 3.77M | 7.54M | 11.05M | 8.77M | 7.07M | 12.45M | 16.59M | 7.36M | 16.97M | 15.01M | 17.18M | 30.14M | 23.73M | 20.95M | 13.01M | 10.49M | 32.27M | 24.83M | 17.4M |
| Gross Margin % | 27.32% | 22.03% | 59.1% | 68.34% | 54.4% | 58.49% | 49.2% | 57.27% | 50.15% | 45.45% | 33.04% | 39.8% | 39.68% | 33.63% | 47.28% | 59.38% | 63.32% | 48.82% | 53.18% | 43.6% | 49.21% | 62.44% | 53.2% | 49.91% | 39.93% | 32.46% | 60.5% | 62.41% | 58% |
| Gross Profit Growth % | - | -74.47% | -17.95% | 64.59% | 18.64% | 74.65% | -28.06% | -6.77% | 14.7% | 46.36% | -49.99% | -31.71% | 26.03% | 24.07% | -43.25% | -24.94% | 125.44% | -56.63% | 13.07% | -12.67% | -42.97% | 26.97% | 13.3% | 61.03% | 24.04% | -67.5% | 29.98% | 42.7% | - |
| Operating Expenses | 15.7M | 14.57M | 15.32M | 14.42M | 12.6M | 14.94M | 15.12M | 21.27M | 19.93M | 19.47M | 22.57M | 24.76M | 23.85M | 20.38M | 19.22M | 19.8M | 17.53M | 16.82M | 22.23M | 26.68M | 27.36M | 26.5M | 30.99M | 26.27M | 39.79M | 31.16M | 26.44M | 22.12M | 17.4M |
| OpEx % of Revenue | - | 105.8% | 76.16% | 68.01% | 77.89% | 117.74% | 175.09% | 206.29% | 157.81% | 160.28% | 197.66% | 130.63% | 85.65% | 78.16% | 128.64% | 94.43% | 66.91% | 111.58% | 69.68% | 77.52% | 78.36% | 54.92% | 69.47% | 62.59% | 122.13% | 96.44% | 49.56% | 55.6% | 58% |
| Selling, General & Admin | 9.77M | 9.28M | 8.77M | 7.97M | 7.6M | 8.01M | 6.82M | 8.92M | 9.98M | 9.9M | 10.31M | 10.62M | 11.66M | 12M | 10.48M | 9.96M | 10.07M | 10.62M | 14.05M | 17.16M | 18.06M | 16.86M | 15.9M | 15.77M | 15.25M | 16.89M | 17.14M | 12.62M | 9.4M |
| SG&A % of Revenue | - | 67.36% | 43.62% | 37.59% | 46.98% | 63.13% | 78.99% | 86.5% | 79.04% | 81.49% | 90.27% | 56.02% | 41.89% | 46.03% | 70.14% | 47.52% | 38.45% | 70.43% | 44.03% | 49.87% | 51.72% | 34.93% | 35.65% | 37.57% | 46.8% | 52.27% | 32.13% | 31.72% | 31.33% |
| Research & Development | 5.9M | 5.29M | 6.54M | 6.45M | 5M | 6.93M | 7.54M | 12.35M | 9.95M | 9.57M | 12.27M | 14.14M | 12.19M | 8.38M | 8.74M | 9.84M | 7.46M | 6.2M | 8.19M | 9.52M | 9.3M | 9.65M | 11.88M | 10.5M | 13.11M | 14.27M | 9.3M | 7.36M | 6.3M |
| R&D % of Revenue | - | 38.44% | 32.54% | 30.42% | 30.91% | 54.61% | 87.38% | 119.79% | 78.77% | 78.79% | 107.39% | 74.61% | 43.76% | 32.12% | 58.51% | 46.91% | 28.47% | 41.15% | 25.65% | 27.65% | 26.64% | 19.99% | 26.64% | 25.02% | 40.25% | 44.17% | 17.43% | 18.49% | 21% |
| Other Operating Expenses | 27K | 0 | 0 | 0 | 0 | 1 | 753K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.2M | 0 | 11.43M | 0 | 0 | 2.15M | 1.7M |
| Operating Income | -11.25M | -11.54M | -3.43M | 70K | -3.8M | -7.52M | -10.87M | -15.36M | -13.6M | -13.95M | -18.8M | -17.51M | -12.8M | -11.79M | -12.16M | -7.35M | -941K | -9.67M | -7.78M | -11.67M | -10.18M | 3.63M | -7.26M | -5.32M | -27.56M | -21.29M | 5.84M | 2.71M | 0 |
| Operating Margin % | -69.02% | -83.77% | -17.06% | 0.33% | -23.49% | -59.25% | -125.89% | -149.01% | -107.66% | -114.82% | -164.63% | -92.39% | -45.97% | -45.22% | -81.36% | -35.05% | -3.59% | -64.15% | -24.38% | -33.92% | -29.15% | 7.53% | -16.27% | -12.68% | -84.6% | -65.89% | 10.94% | 6.81% | - |
| Operating Income Growth % | - | -236.32% | -5001.43% | 101.84% | 49.44% | 30.85% | 29.25% | -13% | 2.54% | 25.81% | -7.36% | -36.82% | -8.56% | 3.02% | -65.44% | -680.98% | 90.27% | -24.29% | 33.35% | -14.67% | -380.29% | 150.05% | -36.38% | 80.7% | -29.49% | -464.67% | 115.47% | - | - |
| EBITDA | -5.75M | -5.87M | -637.67K | 2.22M | -3.05M | -6.81M | -10.15M | -14.16M | -12.32M | -12.58M | -17.47M | -16.1M | -11.29M | -10.45M | -10.94M | -6.13M | 295K | -7.92M | -5.57M | -8.73M | -7.06M | 6.27M | -2.96M | -843K | -23.58M | -17.63M | 8.78M | 4.86M | 1.7M |
| EBITDA Margin % | -35.28% | -42.64% | -3.17% | 10.46% | -18.87% | -53.7% | -117.58% | -137.36% | -97.55% | -103.52% | -152.96% | -84.95% | -40.55% | -40.09% | -73.17% | -29.23% | 1.13% | -52.54% | -17.44% | -25.36% | -20.21% | 12.99% | -6.63% | -2.01% | -72.37% | -54.58% | 16.45% | 12.21% | 5.67% |
| EBITDA Growth % | -190.06% | -821.01% | -128.75% | 172.65% | 55.18% | 32.9% | 28.32% | -14.95% | 2.04% | 28.01% | -8.48% | -42.64% | -8.01% | 4.41% | -78.41% | -2177.63% | 103.72% | -42.29% | 36.22% | -23.65% | -212.59% | 312.01% | -250.77% | 96.42% | -33.73% | -300.91% | 80.69% | 185.71% | - |
| D&A (Non-Cash Add-back) | 4.59M | 5.67M | 2.79M | 2.15M | 747K | 704K | 717K | 1.2M | 1.28M | 1.37M | 1.33M | 1.41M | 1.51M | 1.34M | 1.22M | 1.22M | 1.24M | 1.75M | 2.21M | 2.95M | 3.12M | 2.64M | 4.3M | 4.48M | 3.98M | 3.65M | 2.94M | 2.15M | 1.7M |
| EBIT | -10.37M | -11.95M | -3.43M | 70K | -4.02M | -6.32M | -10.12M | -15.17M | -13.6M | -13.93M | -18.8M | -17.62M | -12.8M | -11.61M | -12.16M | -7.35M | 52K | -9.72M | -9.18M | -11.67M | -10.18M | 3.63M | -7.26M | -5.32M | -26.78M | -20.67M | 5.84M | 2.71M | 0 |
| Net Interest Income | -149K | -370K | -406K | -331K | -148K | -173K | -231K | -161K | -31K | -94K | -281K | -189K | -211K | -211K | -138K | -195K | -113K | -93K | -225K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 142K | 0 | 0 | 0 | 0 | 0 | 97K | 189K | 77K | 21K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 291K | 370K | 406K | 331K | 148K | 173K | 328K | 350K | 108K | 115K | 281K | 189K | 211K | 211K | 138K | 36K | 67K | 93K | 225K | 0 | 0 | 2.58M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 589K | -778K | -407K | -331K | -369K | 1.02M | -231K | -161K | -31K | -94K | -281K | -189K | -211K | -30K | -138K | -195K | 880K | -147K | -1.63M | 614K | 1.04M | -1.11M | -1.57M | 602K | -3.72M | -6.84M | 0 | 0 | 0 |
| Pretax Income | -10.66M | -12.32M | -3.84M | -261K | -4.17M | -6.5M | -11.1M | -15.52M | -13.63M | -14.04M | -19.08M | -17.7M | -13.01M | -11.82M | -12.3M | -7.54M | -61K | -9.82M | -9.41M | -11.06M | -9.14M | 2.52M | -7.26M | -4.6M | -42.81M | -28.13M | 0 | 0 | 0 |
| Pretax Margin % | -65.4% | -89.42% | -19.08% | -1.23% | -25.77% | -51.22% | -128.56% | -150.57% | -107.9% | -115.6% | -167.09% | -93.38% | -46.73% | -45.34% | -82.28% | -35.98% | -0.23% | -65.13% | -29.49% | -32.13% | -26.18% | 5.22% | -16.27% | -10.97% | -131.39% | -87.07% | - | - | - |
| Income Tax | 29K | 18K | 3K | 2K | 98K | 119K | 51K | -80K | 152K | 87K | 65K | 146K | 68K | 455K | 18K | 50K | -184K | -63K | -54K | 75K | 71K | 169K | 6.31M | -1.32M | 20.53M | 13.27M | -3.79M | -452K | -200K |
| Effective Tax Rate % | -0.27% | -0.15% | -0.08% | -0.77% | -2.35% | -1.83% | -0.46% | 0.52% | -1.12% | -0.62% | -0.34% | -0.82% | -0.52% | -3.85% | -0.15% | -0.66% | 301.64% | 0.64% | 0.57% | -0.68% | -0.78% | 6.71% | -86.92% | 28.7% | -47.97% | -47.19% | - | - | - |
| Net Income | -13.07M | -14.82M | -3.84M | -263K | -4.27M | -6.62M | -11.15M | -15.44M | -13.78M | -14.13M | -19.15M | -17.85M | -13.08M | -12.28M | -12.31M | -7.59M | 123K | -9.75M | -9.36M | -11.13M | -9.21M | 2.35M | -8.83M | -4.72M | -31.29M | -26.48M | 9.63M | 3.16M | 200K |
| Net Margin % | -80.18% | -107.56% | -19.1% | -1.24% | -26.37% | -52.16% | -129.15% | -149.8% | -109.11% | -116.31% | -167.66% | -94.15% | -46.97% | -47.09% | -82.4% | -36.22% | 0.47% | -64.71% | -29.32% | -32.35% | -26.38% | 4.87% | -19.8% | -11.24% | -96.03% | -81.96% | 18.05% | 7.95% | 0.67% |
| Net Income Growth % | -79.97% | -285.73% | -1360.46% | 93.84% | 35.5% | 40.67% | 27.8% | -12.08% | 2.49% | 26.2% | -7.28% | -36.46% | -6.54% | 0.31% | -62.15% | -6273.98% | 101.26% | -4.27% | 15.98% | -20.84% | -492.09% | 126.61% | -87.16% | 84.92% | -18.16% | -374.95% | 204.65% | 1480.5% | - |
| Net Income (Continuing) | -10.69M | -12.34M | -3.84M | -263K | -4.27M | -6.62M | -11.15M | -15.44M | -13.78M | -14.13M | -19.15M | -17.85M | -13.08M | -12.28M | -12.31M | -7.59M | 123K | -9.75M | -9.36M | -11.13M | -9.21M | 2.35M | -8.83M | -4.72M | -31.29M | -26.48M | 9.63M | 3.16M | 200K |
| Discontinued Operations | -1.01M | -2.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.73 | -0.91 | -0.26 | -0.02 | -0.34 | -0.57 | -1.14 | -2.02 | -2.16 | -2.56 | -0.29 | -0.32 | -0.24 | -0.27 | -0.29 | -0.21 | 0.00 | -0.32 | -0.32 | -0.38 | -0.32 | 0.08 | -0.35 | -0.20 | -1.34 | -1.24 | 0.45 | 2.66 | 0.22 |
| EPS Growth % | -65.78% | -250% | -1233.33% | 94.26% | 40.35% | 50% | 43.56% | 6.48% | 15.63% | -782.76% | 9.38% | -33.33% | 11.11% | 6.9% | -38.1% | - | 101% | 0% | 15.79% | -18.75% | -500% | 122.86% | -75% | 85.07% | -8.06% | -375.56% | -83.08% | 1109.09% | - |
| EPS (Basic) | - | -0.91 | -0.26 | -0.02 | -0.34 | -0.57 | -1.14 | -2.02 | -2.16 | -2.56 | -0.29 | -0.32 | -0.24 | -0.27 | -0.29 | -0.21 | 0.00 | -0.32 | -0.32 | -0.38 | -0.32 | 0.09 | -0.35 | -0.20 | -1.34 | -1.24 | 0.49 | 5.88 | 0.37 |
| Diluted Shares Outstanding | 17.79M | 16.24M | 14.51M | 13.45M | 12.59M | 11.54M | 9.78M | 7.66M | 6.37M | 5.52M | 4.67M | 56.47M | 55.4M | 45.76M | 41.83M | 36.79M | 39.04M | 30.74M | 29.65M | 29.04M | 28.48M | 28.04M | 25.49M | 24.11M | 23.29M | 21.41M | 21.61M | 1.17M | 892.86K |
| Basic Shares Outstanding | 17.79M | 16.24M | 14.51M | 13.45M | 12.59M | 11.54M | 9.78M | 7.66M | 6.36M | 5.52M | 4.67M | 56.47M | 55.4M | 45.76M | 41.83M | 36.79M | 35.73M | 30.74M | 29.65M | 29.04M | 28.48M | 26.95M | 25.49M | 24.11M | 23.29M | 21.41M | 19.49M | 543.93K | 543.93K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying QUIK stock.
For fiscal year 2025, QuickLogic Corporation (QUIK) reported total revenue of $13.8M. This represents a 54.1% decline compared to $30.0M in 1998.
QuickLogic Corporation (QUIK) reported a net loss of $14.8M for the fiscal year ending 2025.
QuickLogic Corporation (QUIK) reported an operating income of $-11.5M, resulting in an operating profit margin of -83.8%. This margin reflects the operational efficiency of the business before interest and taxes.
QuickLogic Corporation (QUIK) generated $3.0M in gross profit for the year, representing a gross profit margin of 22.0%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent Revenue Contraction
Metrics are mathematically derived from official filings.
Revenue Contraction Challenges Strategic Pivot
As reported in recent financial statements, QuickLogic's revenue has experienced a significant downturn, with the most recent quarterly figures showing a 34.6% year-over-year decline, suggesting that the transition from legacy hardware to high-margin IP licensing is failing to provide the necessary top-line stability for growth.
The volatility in revenue, characterized by sharp quarterly swings, indicates that the company remains overly dependent on lumpy, project-based NRE fees rather than a predictable recurring revenue stream. Investors should monitor whether this contraction reflects a permanent loss of market share in legacy segments or merely a delayed ramp-up of the eFPGA platform.
Structural Margin Erosion Warrants Concern
Based on the company's reported figures, gross margins have deteriorated from a peak of 77.1% in 2023Q4 to a low of 18.1% in 2025Q4, indicating that the firm is struggling to maintain pricing power while navigating a difficult shift in its underlying product mix.
This collapse in gross profitability suggests that the company may be forced to offer aggressive pricing to secure design wins, or that legacy inventory is being liquidated at unfavorable terms. Such margin compression is particularly concerning for a semiconductor firm that relies on high-margin IP to offset its substantial fixed R&D costs.
Operating Leverage Remains Severely Constrained
According to the provided income statement data, QuickLogic's operating margin has plummeted to -93.3% as of 2025Q4, demonstrating that the company's current revenue scale is insufficient to absorb its fixed operating expenses, which continue to weigh heavily on the bottom line despite recent cost-cutting efforts.
The inability to achieve operating leverage suggests that the company's R&D-heavy cost structure is not scaling with its current revenue base. Without a significant inflection in top-line growth, the firm appears trapped in a cycle of persistent operating losses that will likely necessitate further capital infusions.
Earnings Quality Obscured by Volatility
As indicated by the financial data, the company's net income has remained consistently negative over the last several quarters, with stock-based compensation periodically inflating the expense base and further diluting the value for shareholders during periods of significant operational underperformance.
The reliance on non-operating adjustments and the absence of consistent GAAP profitability make it difficult to assess the underlying health of the business. Investors should be wary of the impact that recurring stock-based compensation has on the share count, especially when the core business is failing to generate positive cash flow.
Sustainability of Current Business Model
While management emphasizes the potential of its eFPGA and SensiML platforms, the financial evidence suggests a high risk of continued cash burn, as the company's operating losses have widened significantly compared to the profitable quarters observed in late 2023.
Short-sellers would likely focus on the rapid depletion of cash reserves and the inability of the new IP-centric strategy to replace the revenue lost from legacy hardware. The lack of a clear path to break-even suggests that the company's long-term viability may be contingent on external financing rather than operational success.