Quicklogic - QUIK STOCK NEWS

SensiML Corporation, known for its AI tools for IoT endpoints, has joined the Arm AI Partner Program as of September 2, 2020. This partnership enhances access to developers using Arm Cortex processors, allowing SensiML to expand its ecosystem. The SensiML Analytics Toolkit provides a complete AI workflow for developers and optimizes performance using Arm's software libraries. The collaboration aims to ease AI deployment on intelligent devices, supporting various markets including industrial and healthcare. The toolkit is now available for developers.

QuickLogic Corporation (NASDAQ: QUIK) announced its participation in the H.C. Wainwright 22nd Annual Global Investment Conference on September 16, 2020. Members of the executive management team will present virtually from 10:00 a.m. to 10:20 a.m. Eastern Time. A webcast of the presentation will be available on the company's IR site. QuickLogic specializes in ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP, and AI solutions, targeting applications in mobile, wearable, and IoT sectors. Investors can schedule one-on-one meetings by contacting Investor Relations.

SensiML Corporation has announced that its SensiML Analytics Toolkit now supports AI-based sensor algorithms on the SensorTile.Box IoT kit from STMicroelectronics. This partnership aims to deliver comprehensive AI solutions for IoT applications. The toolkit, designed for STM32 microcontrollers, streamlines development through automation, significantly reducing time and costs. It enables developers to create complex AI models more rapidly compared to traditional methods, with features for data collection and labeling. The SensiML Analytics Toolkit is now available for purchase.

QuickLogic Corporation (NASDAQ: QUIK) announced its membership in the CHIPS Alliance, promoting open hardware standards in the electronics industry. President Brian Faith emphasized their commitment to enhancing FPGA tools for developers. The company's QuickLogic Open Reconfigurable Computing (QORC) initiative aims to provide broader access to open FPGA technology, collaborating with partners like Google and Antmicro. They launched the QuickFeather™ development kit for low-power IoT devices. Faith will present on open-source FPGA tooling at the CHIPS Alliance Workshop on September 17, 2020.

On August 10, 2020, QuickLogic Corporation (NASDAQ: QUIK) announced that its CEO, Brian Faith, will moderate a panel discussion on COVID-19 AI Screening Solutions on August 12, 2020. This event highlights the importance of AI technology in protecting at-risk populations during the pandemic. The panel will include prominent figures from various organizations, discussing insights related to the current health crisis. The discussion aims to drive impactful solutions to address pressing issues regarding COVID-19 screening and safety.

QuickLogic Corporation (NASDAQ: QUIK) reported its fiscal 2020 second quarter results with total revenue of $2.2 million, marking a 2% increase from Q1 2020 and 5% from Q2 2019. New product revenue surged 69% sequentially to $0.8 million, driven by EOS S3 sales, while mature product revenue fell 18% to $1.4 million. GAAP net loss was $3.0 million or $0.35 per share, an improvement from $3.2 million in the prior quarter. QuickLogic also announced an oversubscribed stock offering raising $8.1 million and joined the Russell Microcap Index.

QuickLogic Corporation (NASDAQ: QUIK) has completed the sale of 141,733 additional shares of common stock, raising approximately $461,341 in net proceeds from the underwriter's option to purchase for over-allotments. This sale is part of a larger public offering that generated around $8.10 million in net proceeds. Following this issuance, QuickLogic now has 11,055,490 shares outstanding. The offering is governed under a shelf registration statement effective since March 29, 2019.

QuickLogic Corporation (NASDAQ: QUIK) has joined the Russell Microcap® Index, effective June 29, 2020. This inclusion enhances visibility among institutional investors and is expected to benefit shareholders. The Russell indexes, utilized by managers for index funds and benchmarks, manage approximately $9 trillion in assets. QuickLogic specializes in ultra-low-power multicore voice-enabled system-on-chips (SoCs), embedded FPGA, and AI solutions, positioning itself for greater exposure as it works toward strategic goals.

QuickLogic Corporation (NASDAQ: QUIK) announced a firm commitment underwritten offering of 2,500,000 shares of common stock at $3.50 per share, totaling approximately $8.75 million. The offering is expected to close around June 22, 2020. Proceeds will be used for working capital, development of next-generation products including AI solutions, and general corporate purposes. An additional 375,000 shares may be purchased by the underwriter within 30 days. Oppenheimer & Co. Inc. is the sole underwriter for this offering.