QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

March 31, 2024

December 31, 2023

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$

27,399

$

24,606

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

1,560

1,625

Contract assets

1,085

3,609

Note receivable

1,214

1,200

Inventories

1,923

2,029

Prepaid expenses and other current assets

2,128

1,561

Total current assets

35,309

34,630

Property and equipment, net

12,420

8,948

Capitalized internal-use software, net

2,147

2,069

Right of use assets, net

916

981

Intangible assets, net

510

537

Non-marketable equity investment

300

300

Goodwill

185

185

Other assets

142

142

TOTAL ASSETS

$

51,929

$

47,792

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Revolving line of credit

$

20,000

$

20,000

Trade payables

4,892

4,657

Accrued liabilities

1,545

2,673

Deferred revenue

778

1,052

Notes payable, current

993

946

Lease liabilities, current

263

302

Total current liabilities

28,471

29,630

Long-term liabilities:

Notes payable, non-current

450

461

Lease liabilities, non-current

636

681

Other long-term liabilities

125

125

Total liabilities

29,682

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; 14,377 and 14,118 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively

14

14

Additional paid-in capital

327,680

322,436

Accumulated deficit

(305,447)

(305,555)

Total stockholders' equity

22,247

16,895

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

51,929

$

47,792