Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | 1 QuickLogic Corporation ("QuickLogic" or, the "Company"), was founded in 1988 1999. QuickLogic’s fiscal year ends on the Sunday closest to December 31. 2021 2020 2019 January 2, 2022 January 3, 2021 December 29, 2019 COVID- 19 On January 30, 2020, 19 February 28, 2020, 19 19 19 As such, while COVID- 19 three twelve January 2, 2022, 19 2022 may 19. 19 19 may may 19 Restructuring In January 2020, January 24, 2020. twelve 2020, 2020. Liquidity The Company has financed its operations and capital investments through sale of common stock, capital and operating leases, a revolving line of credit and cash flows from operations. As of January 2, 2022 million including $15.0 million dra On September 28, 2018, On December 21, 2018, On November 6, 2019, one September 28, 2021. one one five one one On December 11, 2020, one September 28, 2022 one one On August 16, 2021, On November 16, 2021, December 21, 2018 ( December 31, 2023 December 31, 2021 On January 2, 2022 January 3, 2021, Note 7 On June 21, 2019, 11 to the Consolidated Financial Statements for additional information. On June 22, 2020, 11. On September 22, 2021, shares of our common stock (the “Private Placement”). On September 30, 2021, shares of our common stock, in a registered direct offering pursuant to our effective shelf registration statement on Form S- 3 No. 333 230352 2021, February 2022, February 2022 16. The Company currently uses its cash to fund its working capital, to accelerate the development of next generation products and for general corporate purposes. Based on past performance and current expectations, the Company believes that its existing cash and cash equivalents, together with $1.5 million gross cash proceeds from the February 2022 twelve Various factors affect the Company’s liquidity, including, among others: the level of revenue and gross profit as a result of the cyclicality of the semiconductor industry; the conversion of design opportunities into revenue; market acceptance of existing and new products including solutions based on its eFPGA IP, ArcticLink ® ® S3 Over the longer term, the Company anticipates that sales generated from its new product offerings, existing cash and cash equivalents, together with financial resources from its Revolving Facility with Heritage Bank, assuming renewal of the Revolving Facility or the Company entering into a new debt agreement with an alternative lender prior to the expiration of the revolving line of credit in December 2023, Principles of Consolidation The consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles, in the United States of America or ("US GAAP"), and the applicable rules and regulations of the Securities and Exchange Commission, ("SEC"), and include the accounts of QuickLogic and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Critical Accounting Policies and Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates, particularly in relation to revenue recognition; the allowance for doubtful accounts; sales returns; valuation of long-lived assets including mask sets; valuation of goodwill; capitalized internal-use software and related amortizable lives and intangibles related to the acquisition of SensiML, including the estimated useful lives of acquired intangible assets, valuation of inventories including identification of excess quantities, market value and obsolescence; measurement of stock-based compensation awards; accounting for income taxes and estimating accrued liabilities. The methods, estimates and judgments we use in applying our most critical accountin may Licensed Intellectual Property The Company licenses intellectual property that is incorporated into its products. Costs incurred under license agreements prior to the establishment of technological feasibility are included in research and development expense as incurred. Costs incurred for intellectual property once technological feasibility has been established and that can be used in multiple products are capitalized as a long-term asset. Once a product incorporating licensed intellectual property has production sales, the amount is amortized over the estimated useful life of the asset, generally up to five Revenue Recognition We recognize revenue in accordance with ASC Topic No. 606 10 not 606 Revenue arrangements with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may not not may one may We supply standard products that must be programmed before they can be used in an application. Our products may third Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We determine revenue recognition through the following steps: ● Identification of the contract, or contracts, with a customer, ● Identification of the performance obligations in the contract, ● Determination of the transaction price, ● Allocation of the transaction price to the performance obligations in the contract, and ● Recognition of revenue when, or as, we satisfy a performance obligation. As part of its assessment of each contract, the Company evaluates certain factors including the customer’s ability to pay, or credit risk. For each contract, the Company considers the promise to transfer products, each of which is distinct, to be the identified performance obligations. In determining the transaction price, the price stated on the purchase order is typically fixed and represents the net consideration to which the Company expects to be entitled, and therefore there is no one not Product Revenue The Company generates most of its revenue by supplying standard hardware products, which must be programmed before they can be used in an application. The Company’s contracts with customers are generally for product only, and do not The Company recognizes hardware product revenue at the point of time when control of products is transferred to the customers, when the Company’s performance obligation is satisfied, which typically occurs upon shipment from the Company’s manufacturing site or its headquarters. Intellectual Property and Software License Revenue The Company also generates revenue from licensing their intellectual property or IP, software tools and royalties from licensing its technology. The Company recognizes IP and Software License revenue at the point of time when the control of IP or software license has been transferred. Some of the IP and Software Licensing contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The Company determines the standalone selling prices based on our overall pricing objectives, taking into consideration market conditions and other factors, including the value of our contracts, type of the customer, customer tier, type of the technology used, customer demographics, geographic locations, and other factors. There are no Professional Services Revenue Professional Services revenue consists of professional engineering fees associated with custom integration of the Company's technology solutions into its customers’ products. An initial software arrangement may The Company customization services revenue based on the duration of the project and specific terms and deliverables unique to each contract: ● an over time model, measured using the input method such as units of labor ● an over time model measured using the output method such as specific deliverables produced ● Time and Material for professional engineering services For time and material derived revenue, the Company estimates a fully-burdened overhead rate for the labor and any materials required Due to the nature of the work performed in these arrangements, the estimation of the over-time model is complex and involves significant judgment. In the case of the input methods, the key factors reviewed by management to estimate costs to complete each contract is the estimated labor days-effort necessary to complete the project, budgeted hours, hourly cost to the Company, profit margins, and engineering hours at cut-off when projects extend beyond a reporting period. In relation to the output method, key factors reviewed by the Company are the specific deliverables specified in the contracts with customers. The Company has methods and controls in place for tracking labor-days incurred in completing customization and other professional services as well as quantifying changes in estimates. Customization professional engineering services contract revenue inclusive of eFPGA IP and customization was approximately million f or the year ended January 2, 2022. 2021, 2020, 2019, The Company has entered into a revenue contract with a non-affiliate customer, where the customer, will provide cash in addition to shares of common stock as payment in exchange for IP license, know how, and professional engineering services. The customer is a privately-held company, and as such, the common stock is not January 2, 2022, $300,000 9 14. Contract Balances Timing of revenue recognition may Related to the Company's professional services revenue, the Company had Contract assets of approximately $0.3 million included in accounts receivable on its Consolidated Balance Sheet at January 2, 2022 none January 3, 2021. January 2, 2022, none January 3, 2021. 14. Software as a Service Revenue, or SaaS Revenue Software products that are offered to customers with a right to use the hosted software over the contract period without taking the possession of it are billed on a subscription basis. Revenue that are billed on a subscription basis is recognized ratably over the contract period. Maintenance Revenue The Company recognizes revenue from maintenance ratably over the term of the underlying maintenance contract term. Renewals of maintenance contracts create new performance obligations that are satisfied over the term with the revenues recognized ratably over the term. Royalty Revenue The Company recognizes royalty revenue when the later of the following events occurs: (a) The subsequent sale or usage occurs. (b) The performance obligation to which some or all of the sales-based royalty has been allocated has been satisfied Deferred Revenue Receivables are recognized in the period we ship the product. Payment terms on invoiced amounts are based on contractual terms with each customer. When we receive consideration, or such consideration is unconditionally due, prior to transferring goods or services to the customer under the terms of a sales contract, we record deferred revenue, which represents a contract liability. We recognize deferred revenue as net sales once control of goods and/or services have been transferred to the customer and all revenue recognition criteria have been met and any constraints have been resolved. We defer the product costs until recognition of the related revenue occurs. Variable Consideration The Company does not Assets Recognized from Costs to Obtain a Contract with a Customer The Company recognizes an asset for the incremental costs of obtaining a contract with a customer, if it expects the benefit of those costs to be longer than one none 606 January 2, 2022 January 3, 2021 no January 2, 2022, January 3, 2021. Practical Expedients and Exemptions (i) Taxes collected from customers and remitted to government authorities and that are related to the sales of our products are excluded from revenues. (ii) Sales commissions are expensed when incurred because the amortization period would have been one (iii) We do not one We record allowance for sales returns. Amounts recorded for sales returns for the year ended January 2, 2022 January 3, 2021 were and , respectively on the Company's Consolidated Statement of Operations. The allowance for sales returns is based on a historical returns analysis performed on a quarterly basis. Cost of Revenue We record all costs associated with product sales and professional services in cost of revenue. These costs include the cost of materials, contract manufacturing fees, shipping costs and quality assurance. Cost of revenue also includes indirect costs such as warranty, excess and obsolete inventory charges, general overhead costs, depreciation and amortization of certain capitalized software. Cost of revenue related to professional services for fiscal 2021 2020 2019. Valuation of Inventories Inventories are stated at the lower of standard cost or net realizable value. Standard cost approximates actual cost on a first first may Our semiconductor products have historically had an unusually long product life cycle and obsolescence has not may Fair Value The guidance for the fair value option for financial assets and financial liabilities provides companies the irrevocable option to measure many financial assets and liabilities at fair value with changes in fair value recognized in earnings or equity. The Company has not to measure any financial assets or liabilities at fair value that were not The Company holds a non-marketable equity investment in a privately-held, non-affiliated company which is recorded at fair value measured on a non-recurring basis. If an impairment or observable change in fair-value occurs in the period, the changes in fair value are recorded in the consolidated statement of operations. The investment is valued using observable and unobservable inputs or data in an inactive market and the valuation requires significant judgment due to the absence of market prices and inherent lack of liquidity. The estimated fair value is based on quantitative and qualitative factors including subsequent financing activities by the investee. At January 2, 2022, 9. Concentration of Risk The Company’s accounts receivables are denominated in U.S. dollars and are derived primarily from sales to customers located in North America, Asia Pacific, and Europe. The Company performs ongoing credit evaluations of its customers and generally does not 14 Reverse Stock Split On November 26, 2019, 1 1 December 6, 2019. 1 $1.00 January 9, 2020, |