QuickLogic AGM: Shareholders Back Directors, Pay Plan; CEO Touts eFPGA Wins and $89M Rad-Hard Push

Key Points

• Shareholders overwhelmingly re-elected directors Brian C. Faith and Ron Shelton, approved the company's executive compensation on a non-binding basis, and ratified its auditor, with preliminary tallies showing more than 99% support for the directors and auditor and more than 98% for executive pay.
• CEO Brian Faith touted recent eFPGA commercial and defense wins — citing an Epson ASIC redesign that cut power consumption by about 50% after integrating QuickLogic’s eFPGA Hard IP and Idaho Scientific’s adoption for hardware-based cryptography — and said integration into ASICs/SoCs plus the Australis/Aurora toolset supports scalable growth (company forecast: 50–100% revenue growth with only a 15–20% increase in non-GAAP operating expenses).
• QuickLogic is advancing radiation-hardened FPGA work, delivering test chips on GlobalFoundries’ 12LP and shipping a RadPro dev kit, while a U.S. government prime contract was expanded to a potential $89 million (with a $13M tranche awarded), a program the company says could open a market worth “hundreds of millions” in future revenue.

QuickLogic NASDAQ: QUIK held its 2026 Annual Meeting of Stockholders, where shareholders voted to re-elect two Class III directors, approved the company’s executive compensation on a non-binding advisory basis, and ratified the appointment of the company’s independent auditor. Following the formal business portion of the meeting, President and CEO Brian Faith outlined QuickLogic’s strategy and highlighted recent customer examples and government-funded initiatives tied to embedded FPGA (eFPGA) technology and radiation-hardened FPGA development.

Annual meeting voting results

Faith opened the meeting by introducing directors and corporate officers, as well as representatives from the company’s independent outside auditors, Frank, Rimerman + Co. LLP. He said the company had received proof that notice of the meeting and related materials had been distributed to stockholders of record, and the inspector of election confirmed a quorum was present in person and by proxy.

Shareholders voted on three proposals:

• Election of two Class III directors to serve until the 2029 Annual Meeting of Stockholders (nominees: Brian C. Faith and Ron Shelton)
• A non-binding advisory vote to approve the compensation of the company’s named executive officers, as disclosed in the proxy statement
• Ratification of Frank, Rimerman + Co. LLP as independent registered public accounting firm for the fiscal year ending January 3, 2027

Cathy Weeden of Broadridge Financial Solutions, serving as inspector of election, reported preliminary voting results showing each director nominee received “more than 99%” of votes in favor. Weeden also reported “more than 98%” of votes supported the advisory executive compensation proposal, and “more than 99%” voted to ratify the auditor.

Based on those preliminary results, Faith declared that the two nominees were elected and that the auditor appointment was ratified. He said final confirmed vote totals would be included in the meeting minutes and in a Form 8-K to be filed with the SEC within four business days.

Business overview: programmable logic IP and integration focus

After closing the polls and concluding the official meeting, Faith delivered a business presentation that emphasized QuickLogic’s programmable logic IP and its role in making “hardware as adaptable as software.” He said the company’s discrete and embedded FPGA solutions can allow systems to adapt after deployment to support algorithm updates, new interfaces, and changing mission requirements.

Faith highlighted several drivers he said support demand, including extending product life cycles, reducing power consumption while improving performance, and enabling “advanced security that cannot be effectively executed in software.” He also pointed to the growing cost and time associated with respinning advanced-node ASIC and SoC designs, stating that integrating eFPGA into ASICs and SoCs can lower the risk of respins used to fix errors or make late design updates.

Customer examples: Epson ASIC and Idaho Scientific

Faith provided two recent examples of how customers are using QuickLogic’s eFPGA Hard IP—one commercial and one in the defense industrial base.

First, he cited a January 2026 blog post featuring a case study of an Epson ASIC that needed to adapt to changing algorithms over its lifecycle. Faith said Epson initially relied on adaptable software running on an embedded processor, but the approach “took way too much power” and battery capacity could not be increased. According to Faith, Epson integrated QuickLogic’s eFPGA Hard IP into its ASIC, the redesign “worked on the first pass,” and power consumption was reduced by 50%.

Second, Faith referenced a December 2025 press release announcing that Idaho Scientific adopted QuickLogic’s eFPGA Hard IP for new designs after using discrete FPGAs in security applications for years. Faith relayed comments from Idaho Scientific’s vice president, saying the eFPGA Hard IP enabled the company to integrate hardware adaptability into its SoC—capabilities it would typically allocate to discrete FPGA devices—to deliver “forward-leaning hardware-based cryptographic solutions” across mobile, IoT, infrastructure, and defense systems.

Faith said U.S. military contractors collectively known as the defense industrial base (DIB) spend more on FPGAs than any other category of semiconductor devices, with ASICs as the second-highest category. He added that similar design trends appear to be growing across other critical infrastructure sectors, including aerospace, industrial, and communications, where long product life cycles and a desire to reduce total chip count are common themes.

Tools, operating leverage, and advanced-node milestones

Faith said QuickLogic’s primary focus is to “eliminate the need for a discrete FPGA” by enabling integration of its eFPGA Hard IP into ASIC and SoC designs, while noting there will remain applications where discrete FPGAs make more sense. He framed “integration” as a central strategy, arguing that the most successful semiconductor companies have historically benefited from being aligned with integration trends.

He also emphasized the leverage and scalability of QuickLogic’s operating model, which he said is supported by the company’s proprietary Australis eFPGA Hard IP generator and Aurora user tools. Faith said the company’s full-year outlook calls for 50% to 100% revenue growth with only a 15% to 20% increase in non-GAAP operating expenses, describing this as evidence of operating leverage.

Faith said Australis helps automate and streamline development of fabrication-specific and customer-specific eFPGA Hard IP, enabling the engineering organization to support multiple programs concurrently and faster than competitors. He stated that QuickLogic has delivered eFPGA Hard IP for Intel 18A and has “already won four modest contracts totaling nearly $2 million,” adding that the company expects “at least one major contract this year.”

Radiation-hardened FPGA efforts and government contract expansion

Faith said work funded by one of the Intel 18A contracts supported architectural enhancements in late 2025 aimed at addressing “very high-density discrete and embedded FPGA designs,” which he said increased QuickLogic’s serviceable available market on advanced process nodes.

He also highlighted a separate internally funded initiative that he said made QuickLogic the first company to deliver eFPGA Hard IP for a radiation-hardened discrete FPGA fabricated in the U.S. on GlobalFoundries’ 12LP process. Faith said the company received test chips earlier in the year and had shipped a number of them along with a new RadPro FPGA development kit for customer evaluations.

In addition, Faith said the U.S. government expanded QuickLogic’s prime contract to develop a strategic radiation-hardened FPGA to a total potential value of $89 million and awarded a $13 million tranche “last February” to fund work during the year. Faith said the company believes the strategic radiation-hardened FPGA market could represent “hundreds of millions of dollars of revenue” for QuickLogic in coming years.

Faith concluded by describing Aurora as a unified development environment that allows customers to target their own IP into QuickLogic programmable logic, supporting both customer adoption and internal execution. He said once customers build workflows and train teams around Aurora and QuickLogic’s eFPGA Hard IP, switching costs and risks increase, potentially improving the company’s chances of winning follow-on designs. Faith added that QuickLogic’s experience over “three decades” delivering discrete FPGAs and integrated solutions, along with infrastructure for fabrication, packaging, test, and inventory, helps it “storefront finished products” for customers and supports its focus on markets with long product life cycles.

About QuickLogic NASDAQ: QUIK

QuickLogic Corporation NASDAQ: QUIK is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company's products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic's technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic's key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.

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