QuickLogic announced its financial results for the fiscal fourth quarter ended January 1, 2023.
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Total revenue for the fourth quarter of fiscal 2022 was $4.1 million, an increase of 18.1% compared with the third quarter of 2022, and an increase of 10.2% compared with the fourth quarter of 2021.
New product revenue was approximately $2.8 million in the fourth quarter of 2022, an increase of $0.6 million, or 26.2%, compared with the third quarter of 2022, and an increase of $0.2 million, or 6.6%, compared with the fourth quarter of 2021.
The increase in new product revenue from the same period a year ago was primarily due to increased eFPGA professional services revenue partially offset by decreases in sensor, smart connectivity, and display product revenues. The previously announced $6.9 million government contract contributed to revenue growth in the quarter and will further contribute to revenue growth into 2023.
Mature product revenue was $1.2 million in both the fourth quarter and the third quarter of 2022. Mature product revenue in the fourth quarter of 2022 increased 19.5% compared with the fourth quarter of 2021.
Fourth quarter 2022 GAAP gross margin was 51.9% compared with 48.5% in the third quarter of 2022, and 56.1% in the fourth quarter of 2021.
Fourth quarter 2022 non-GAAP gross margin was 53.2% compared with 49.8% in the third quarter of 2022, and 60.1% in the fourth quarter of 2021.
Fourth quarter 2022 GAAP operating expenses were $3.0 million compared with $2.9 million in the third quarter of 2022, and $3.7 million in the fourth quarter of 2021.
Fourth quarter 2022 non-GAAP operating expenses were $2.4 million, compared with $2.5 million in the third quarter of 2022, and $2.7 million in the fourth quarter of 2021.
Fourth quarter 2022 GAAP net loss was $1.2 million, or $0.09 per share, compared with a net loss of $1.3 million, or $0.11 per share, in the third quarter of 2022, and a net loss of $1.6 million, or $0.13 per share, in the fourth quarter of 2021.
Fourth quarter 2022 non-GAAP net loss was $0.5 million, or $0.04 per share, compared with a net loss of $0.9 million, or $0.07 per share, in the third quarter of 2022, and a net loss of $0.5 million, or $0.04 per share, in the fourth quarter of 2021. ■