QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

September 29, 2024

December 31, 2023

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$

22,364

$

24,606

Accounts receivable, net of allowance for doubtful accounts of $24 and $34, as of September 29, 2024 and December 31, 2023, respectively

657

1,625

Contract assets

2,331

3,609

Note receivable, current

—

1,200

Inventories

1,780

2,029

Prepaid expenses and other current assets

2,919

1,561

Total current assets

30,051

34,630

Property and equipment, net

14,137

8,948

Capitalized internal-use software, net

2,352

2,069

Right of use assets, net

828

981

Intangible assets, net

457

537

Non-marketable equity investment

300

300

Goodwill

185

185

Note receivable, non-current

1,260

—

Other assets

143

142

TOTAL ASSETS

$

49,713

$

47,792

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Revolving line of credit

$

20,000

$

20,000

Trade payables

2,877

4,657

Accrued liabilities

1,457

2,673

Deferred revenue

449

1,052

Notes payable, current

1,798

946

Lease liabilities, current

275

302

Total current liabilities

26,856

29,630

Long-term liabilities:

Lease liabilities, non-current

529

681

Notes payable, non-current

1,314

461

Other long-term liabilities

125

125

Total liabilities

28,824

30,897

Commitments and contingencies

Stockholders' equity:

Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued and outstanding

—

—

Common stock, $0.001 par value; 200,000 authorized; 14,697 and 14,118 shares issued and outstanding as of September 29, 2024 and December 31, 2023, respectively

15

14

Additional paid-in capital

329,965

322,436

Accumulated deficit

(309,091)

(305,555)

Total stockholders' equity

20,889

16,895

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

49,713

$

47,792