QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

April 2, 2023

January 1, 2023

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$

20,902

$

19,201

Accounts receivable, net of allowance for doubtful accounts of $8 and $18, as of April 2, 2023 and January 1, 2023,respectively 2,090 2,689

2,090

2,689

Contract assets

2,328

1,987

Inventories

2,497

2,493

Prepaid expenses and other current assets

2,064

1,570

Total current assets

29,881

27,940

Property and equipment, net

442

465

Capitalized internal-use software, net

1,576

1,514

Right of use assets, net

1,592

1,397

Intangible assets, net

618

645

Non-marketable equity investment

300

300

Goodwill

185

185

Other assets

142

140

TOTAL ASSETS

$

34,736

$

32,586

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Revolving line of credit

$

15,000

$

15,000

Trade payables

2,265

2,391

Accrued liabilities

1,706

1,509

Deferred revenue

299

272

Lease liabilities, current

1,005

850

Total current liabilities

20,275

20,022

Long-term liabilities:

Lease liabilities, non-current

596

544

Other long-term liabilities

190

125

Total liabilities

21,061

20,691

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; 13,686 and 13,202 shares issued and outstanding as of April 2, 2023 and January 1, 2023, respectively

14

13

Additional paid-in capital

320,181

317,174

Accumulated deficit

(306,520)

(305,292)

Total stockholders' equity

13,675

11,895

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

34,736

$

32,586