QuickLogic Announces $1.4 Million Incremental Funding Modification for its Strategic Radiation Hardened Program
QuickLogic (NASDAQ: QUIK) has secured a $1.43 million Incremental Funding Modification (IFM) for its Strategic Radiation Hardened (SRH) Program.
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Rhea-AI Summary
QuickLogic (NASDAQ: QUIK) has secured a $1.43 million Incremental Funding Modification (IFM) for its Strategic Radiation Hardened (SRH) Program. This additional funding supplements the $6.58 million contract awarded in December 2024, bringing the total program value to $8.01 million.
The funding supports the ongoing development and demonstration of high reliability SRH Field Programmable Gate Array (FPGA) technology, designed to meet Department of Defense (DoD) strategic and space system requirements. The company's FPGA and eFPGA Hard IP solutions are specifically engineered for Aerospace and Defense Industrial Base customers.
Positive
- Secured additional $1.43M in funding for Strategic Radiation Hardened Program
- Total program value increased to $8.01M with December 2024 contract
- Expanded scope of ongoing defense contract indicates strong government relationship
Negative
- None.
Details
News Market Reaction – QUIK
The recorded move for QUIK in the trading session of this news was -4.49%.
Data tracked by StockTitan Argus. Session date unavailable.
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"Our FPGA and eFPGA Hard IP solutions are specifically engineered to meet the stringent standards of Aerospace and Defense Industrial Base customers," said Brian Faith, president and CEO of QuickLogic. "This Incremental Funding Modification and the recently expanded scope of our ongoing contract underscore the value of the SRH program's aim to meet identified and future Department of Defense (DoD) strategic and space system requirements."
About QuickLogic
QuickLogic Corporation is a fabless semiconductor company specializing in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions. QuickLogic's unique approach combines cutting-edge technology with open-source tools to deliver highly customizable, low-power solutions for industrial, aerospace, consumer, and computing markets. For more information, visit www.quicklogic.com.
QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.
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SOURCE QuickLogic Corporation
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