실적분석 2026년 8월 11일

QuickLogic ($QUIK) Q2 2026 Earnings Analysis — Revenue and Adjusted EPS Both Miss Estimates; After-Hours Weakness

Earnings Scorecard

Revenue: $5.5 million (+48.7% YoY, vs. $6.0 million estimate) � Miss

EPS (Earnings Per Share): Adjusted -$0.06 (vs. -$0.04 estimate) ❌ Miss

Guidance: Full-year growth outlook narrowed to 70–80% · Modeling non-GAAP profit and positive cash flow in H2 2026

Stock Reaction: After-hours -6.54% ($13.30) — as of 06:07 KST, 08-12

The Positives

Revenue Growth: Q2 revenue of $5.5 million, up 48.7% year over year

Margin Improvement: GAAP gross margin rose sharply to 43.9% from 25.9% a year earlier

New Product Momentum: New product revenue of approximately $4.7 million, up 59.7% year over year

Embedded FPGA (eFPGA) and defense/radiation-hardened products led the growth. Business momentum also continued with feasibility study contracts, a one-time programmable device packaging development contract, and inclusion in the Russell Index.

The Negatives

Revenue Miss: Roughly $0.5 million short of the $6.0 million consensus

Adjusted Loss Shortfall: Adjusted EPS of -$0.06, a wider loss than the -$0.04 estimate

Persistent Losses: GAAP net loss of approximately $0.9 million, with operating expenses also higher year over year

A one-time gain from the extinguishment of an accounts payable balance (approximately $0.95 million) partly masked the GAAP figures, while on an adjusted basis the company remained in the red. Mature product revenue stalled at $0.8 million.

What Management Said

Management said it expects 2026 to be a very successful year, narrowed the full-year growth outlook, and noted that based on this projected growth, it is modeling non-GAAP profitability and positive cash flow in the second half. The market appeared to weigh the quarterly miss more heavily than the upbeat annual messaging.

Market Reaction and Key Points Ahead

With revenue and adjusted EPS both missing consensus and losses persisting, the market appears to have reacted to the quarterly shortfall first, rather than to the upbeat annual outlook.

It remains to be seen whether H2 revenue actually tracks the 70–80% full-year growth path.

Watch for the non-GAAP profit and positive cash flow inflection to materialize in Q3 and Q4.

Keep an eye on when feasibility study and packaging contracts translate into actual revenue and licensing income.