QuickLogic Corporation (NASDAQ: QUIK), saw its shares move forward Thursday, as the 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 CEO Brian Faith.
"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, remains unchanged.
QUIK shares took on 16 cents, or 3.2%, early Thursday to $5.20.
