QuickLogic Reports Record Fourth Quarter Net Income and Full Year 2023 Non-GAAP Profitability

 

 

QUICKLOGIC CORPORATION

SUPPLEMENTAL RECONCILIATIONS OF US GAAP AND NON-GAAP FINANCIAL MEASURES

(in thousands, except per share amounts and percentages)

(Unaudited)




Three Months Ended



Year Ended




December
31, 2023



January 1,
2023



October 1,
2023



December
31, 2023



January 1,
2023


US GAAP income (loss) from operations


$

2,116



$

(924)



$

1,280



$

70



$

(3,800)


Adjustment for stock-based compensation within:





















Cost of revenue



89




55




73




328




272


Research and development



82




327




171




595




652


Selling, general and administrative



434




306




372




1,599




1,111


Non-GAAP income (loss) from operations


$

2,721



$

(236)



$

1,896



$

2,592



$

(1,765)


US GAAP net income (loss)


$

2,042



$

(1,232)



$

1,192



$

(263)



$

(4,267)


Adjustment for stock-based compensation within:





















Cost of revenue



89




55




73




328




272


Research and development



82




327




171




595




652


Selling, general and administrative



434




306




372




1,599




1,111


Non-GAAP net income (loss)


$

2,647



$

(544)



$

1,808



$

2,259



$

(2,232)


US GAAP net income (loss) per share, basic


$

0.15



$

(0.09)



$

0.09



$

(0.02)



$

(0.34)


Adjustment for stock-based compensation



0.04




0.05




0.04




0.19




0.16


Non-GAAP net income (loss) per share, basic


$

0.19



$

(0.04)



$

0.13



$

0.17



$

(0.18)


US GAAP net income (loss) per share, diluted


$

0.14



$

(0.09)



$

0.08



$

(0.02)



$

(0.34)


Adjustment for stock-based compensation



0.04




0.05




0.05




0.19




0.16


Non-GAAP net income (loss) per share, diluted


$

0.18



$

(0.04)



$

0.13



$

0.17



$

(0.18)


US GAAP gross margin percentage



77.1

%



51.9

%



76.9

%



68.3

%



54.4

%

Adjustment for stock-based compensation included
in cost of revenue



1.2

%



1.3

%



1.1

%



1.6

%



1.7

%

Non-GAAP gross margin percentage



78.3

%



53.2

%



78.0

%



69.9

%



56.1

%


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