QuickLogic (QUIK) 10-Q 9 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 02, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	QUICKLOGIC CORPORATION
Entity Central Index Key	0000882508
Current Fiscal Year End Date	--12-30
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		116,318,293
Trading Symbol	QUIK
Entity Shell Company	false
Entity File Number	000-22671
Entity Tax Identification Number	770188504
Entity Address, Address Line One	2220 Lundy Avenue
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95131-1816
City Area Code	(408)
Local Phone Number	990-4000
Entity Current Reporting Status	Yes

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2019	Dec. 30, 2018
Current assets:
Cash and cash equivalents	$ 28,051,000	$ 26,363,000
Restricted cash	100,000	100,000
Accounts receivable, net of allowances for doubtful accounts of $0 and $0	1,519,000	2,209,000
Inventories	3,502,000	3,836,000
Other current assets	1,717,000	1,775,000
Total current assets	34,889,000	34,283,000
Property and equipment, net	1,110,000	1,449,000
Right of use assets	2,417,000
Intangible assets	1,082,000
Goodwill	282,000
Other assets	351,000	354,000
TOTAL ASSETS	40,131,000	36,086,000
Current liabilities:
Revolving line of credit	15,000,000	15,000,000
Trade payables	1,632,000	1,488,000
Accrued liabilities	1,307,000	1,903,000
Lease liabilities-current	777,000	316,000
Total current liabilities	18,716,000	18,707,000
Long-term liabilities:
Lease liabilities-non-current	1,553,000	108,000
Other long-term liabilities		16,000
Total liabilities	20,269,000	18,831,000
Commitments and contingencies (see Note 15)
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.001 par value; 200,000 authorized; 116,121 and 95,513 shares issued and outstanding as of June 30, 2019 and December 30, 2018, respectively	116,000	95,000
Additional paid-in capital	295,670,000	284,974,000
Accumulated deficit	(275,924,000)	(267,814,000)
Total stockholders' equity	19,862,000	17,255,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 40,131,000	$ 36,086,000

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 30, 2018
Current Assets:
Allowance for doubtful accounts	$ 0	$ 0
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	116,121,000	95,513,000
Common stock, shares outstanding	116,121,000	95,513,000

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Income Statement [Abstract]
Revenue	$ 2,087	$ 3,122	$ 5,281	$ 5,886
Cost of revenue	1,065	1,592	2,280	2,967
Gross profit	1,022	1,530	3,001	2,919
Operating expenses:
Research and development	3,215	2,366	6,457	5,065
Selling, general and administrative	2,340	2,610	4,786	5,171
Total operating expenses	5,555	4,976	11,243	10,236
Loss from operations	(4,533)	(3,446)	(8,242)	(7,317)
Interest expense	(124)	(32)	(207)	(56)
Interest income and other (expense), net	50	23	98	9
Loss before income taxes	(4,607)	(3,455)	(8,351)	(7,364)
Provision for (benefit from) income taxes	27	29	(241)	90
Net loss	$ (4,634)	$ (3,484)	$ (8,110)	$ (7,454)
Net loss per share:
Basic and diluted	$ (0.05)	$ (0.04)	$ (0.09)	$ (0.09)
Weighted average shares outstanding:
Basic and diluted	99,226	85,753	98,032	83,176

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Cash flows from operating activities:
Net loss	$ (8,110)	$ (7,454)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	592	675
Stock-based compensation	1,742	911
Write-down of inventories	88	126
Write-off of equipment	2	5
Tax benefit from acquisition	(282)	0
Changes in operating assets and liabilities:
Accounts receivable	690	(1,266)
Inventories	247	(857)
Other assets	(150)	(95)
Trade payables	77	263
Accrued liabilities	(850)	172
Other long-term liabilities	(16)	47
Net cash used in operating activities	(5,970)	(7,473)
Cash flows from investing activities:
Capital expenditures for property and equipment	(523)	(95)
Cash received from business acquisition	20	0
Net cash used in investing activities	(503)	(95)
Cash flows from financing activities:
Payment of finance lease obligations	(194)	(236)
Proceeds from line of credit	20,000	12,000
Payment of line of credit	(20,000)	(12,000)
Proceeds from issuance of common stock	9,439	15,855
Stock issuance costs	(891)	(1,638)
Taxes for net issuance of stock awards	(193)	(125)
Net cash provided by financing activities	8,161	13,856
Net increase in cash, cash equivalents and restricted cash	1,688	6,288
Cash, cash equivalents and restricted cash at beginning of period	26,463	16,527
Cash, cash equivalents and restricted cash at end of period	$ 28,151	$ 22,815

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings
Beginning balance at Dec. 31, 2017	$ 14,878	$ 80	$ 268,833	$ (254,035)
Beginning balance (in shares) at Dec. 31, 2017		80,536
Common stock issued under stock plans and employee stock purchase plan	(47)		(47)
Common Stock issued under stock plans and employee stock purchase plan, shares		91
Stock-based compensation	432		432
Net loss	(3,970)			(3,970)
Ending balance at Apr. 01, 2018	11,293	$ 80	269,218	(258,005)
Ending balance (in shares) at Apr. 01, 2018		80,627
Beginning balance at Dec. 31, 2017	14,878	$ 80	268,833	(254,035)
Beginning balance (in shares) at Dec. 31, 2017		80,536
Net loss	(7,454)
Ending balance at Jul. 01, 2018	22,424	$ 94	283,819	(261,489)
Ending balance (in shares) at Jul. 01, 2018		94,575
Beginning balance at Apr. 01, 2018	11,293	$ 80	269,218	(258,005)
Beginning balance (in shares) at Apr. 01, 2018		80,627
Common stock issued under stock plans and employee stock purchase plan	233		233
Common Stock issued under stock plans and employee stock purchase plan, shares		434
Common stock offering, net of issuance costs	13,903	$ 14	13,889
Common stock offering, net of issuance costs (in shares)		13,514
Stock-based compensation	479		479
Net loss	(3,484)			(3,484)
Ending balance at Jul. 01, 2018	22,424	$ 94	283,819	(261,489)
Ending balance (in shares) at Jul. 01, 2018		94,575
Beginning balance at Dec. 30, 2018	17,255	$ 95	284,974	(267,814)
Beginning balance (in shares) at Dec. 30, 2018		95,513
Common stock issued under stock plans and employee stock purchase plan	740	$ 2	738
Common Stock issued under stock plans and employee stock purchase plan, shares		1,676
Stock-based compensation	951		951
Net loss	(3,476)			(3,476)
Ending balance at Mar. 31, 2019	15,470	$ 97	286,663	(271,290)
Ending balance (in shares) at Mar. 31, 2019		97,189
Beginning balance at Dec. 30, 2018	17,255	$ 95	284,974	(267,814)
Beginning balance (in shares) at Dec. 30, 2018		95,513
Net loss	(8,110)
Ending balance at Jun. 30, 2019	19,862	$ 116	295,670	(275,924)
Ending balance (in shares) at Jun. 30, 2019		116,121
Beginning balance at Mar. 31, 2019	15,470	$ 97	286,663	(271,290)
Beginning balance (in shares) at Mar. 31, 2019		97,189
Common stock issued under stock plans and employee stock purchase plan	210	$ 1	209
Common Stock issued under stock plans and employee stock purchase plan, shares		532
Common stock offering, net of issuance costs	8,025	$ 18	8,007
Common stock offering, net of issuance costs (in shares)		18,400
Stock-based compensation	791		791
Net loss	(4,634)			(4,634)
Ending balance at Jun. 30, 2019	$ 19,862	$ 116	$ 295,670	$ (275,924)
Ending balance (in shares) at Jun. 30, 2019		116,121

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
The Company and Basis of Presentation	Note 1 — The Company and Basis of Presentation QuickLogic Corporation, or QuickLogic or the Company was founded in 1988 and reincorporated in Delaware in 1999. The Company enables Original Equipment Manufacturers, or OEMs to maximize battery life for highly differentiated, immersive user experiences with Smartphone, Wearable, Hearable, Tablet and Internet-of-Things, or IoT devices. QuickLogic delivers these benefits through industry leading ultra-low power customer programmable System on Chip, or SoC semiconductor solutions, embedded software, and algorithm solutions for always-on voice and sensor processing, and enhanced visual experiences. The Company is a fabless semiconductor provider of comprehensive, flexible sensor processing solutions, ultra-low power display bridges, and ultra-low power Field Programmable Gate Arrays, or FPGAs. The Company’s wholly owned subsidiary, SensiML Corporation, or SensiML, provides Analytics Toolkit, which is used in many of the applications where the Company’s ArcticPro™ eFPGA intellectual property, or IP plays a critical role. SensiML Analytics toolkit is an end-to-end software suite that provides OEMs a straightforward process for developing pattern matching sensor algorithms using machine learning technology that are optimized for ultra-low power consumption. The accompanying interim condensed consolidated financial statements are unaudited. In the opinion of the Company’s management, these statements have been prepared in accordance with the United States generally accepted accounting principles, or U.S. GAAP, and include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of results for the interim periods presented. The Company recommends that these interim condensed consolidated financial statements be read in conjunction with the Company's Form 10-K for the year ended December 30, 2018, which was filed with the Securities and Exchange Commission, or SEC, on March 15, 2019, as amended. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the full year. QuickLogic's fiscal year ends on the Sunday closest to December 31 and each fiscal quarter ends on the Sunday closest to the end of each calendar quarter. QuickLogic's second fiscal quarters for 2019 and for 2018 ended on June 30, 2019 and July 1, 2018, respectively. Liquidity The Company has financed its operations and capital investments through sales of common stock, finance leases, bank lines of credit and cash flows from operations. As of June 30, 2019, the Company's principal sources of liquidity consisted of cash and cash equivalents and restricted cash of $28.2 million, including $15.0 million drawn down from its revolving line of credit with Heritage Bank of Commerce, or Heritage Bank. The maturity date for loans under this revolving facility, or the Revolving Facility, is September 28, 2020. On June 21, 2019, the Company issued an aggregate of 18.4 million shares of common stock, $0.001 par value, including the exercise of option for overallotment of 2.4 million shares by the underwriters, in an underwritten public offering at a price of $ 0.50 per share. The company received net proceeds of approximately $8.3 million, after deducting underwriting commissions and other offering-related expenses paid in the second quarter of 2019. Various factors can 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 ArcticLink ® ® 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 the 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 September 2020, and its ability to raise additional capital in the public capital markets will be sufficient to satisfy its operations and capital expenditures. However, the Company cannot provide any assurance that it will be able to raise additional capital, if required, or that such capital will be available on terms acceptable to the Company. The inability of the Company to generate sufficient sales from its new product offerings and/or raise additional capital if needed could have a material adverse effect on the Company’s operations and financial condition, including its ability to maintain compliance with its lender’s financial covenants. Principles of Consolidation The consolidated financial statements include the accounts of QuickLogic and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Foreign Currency The functional currency of the Company's non-U.S. operations is the U.S. dollar. Accordingly, all monetary assets and liabilities of these foreign operations are translated into U.S. dollars at current period-end exchange rates and non-monetary assets and related elements of expense are translated using historical exchange rates. Income and expense elements are translated to U.S. dollars using the average exchange rates in effect during the period. Gains and losses from the foreign currency transactions of these subsidiaries are recorded as interest income and other expense, net in the unaudited condensed consolidated statements of operations. Uses 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 materially from those estimates, particularly in relation to revenue recognition, the allowance for doubtful accounts, sales returns, valuation of investments, valuation of long-lived assets including mask sets, valuation of goodwill 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. Contracts 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 require significant judgment. Judgment is required to determine the Stand-alone Selling Price, or SSP, for each distinct performance obligation. The Company uses a range of amounts to estimate SSP when each of the products and services are sold separately and determines the discount to be allocated based on the relative SSP of the various products and services when products and services sold are bundled. In instances where SSP is not directly observable, such as when the Company does not sell the product or service separately, it determines the SSP using information that may include market conditions and other observable inputs. The Company typically has more than one SSP for individual products and services due to the stratification of those products and services by customers. In these instances, the Company may use information such as the size of the customer, customer tier, type of the technology used, customer demographics, geographic region and other factors in determining the SSP. Concentration of Risk The Company's accounts receivable 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 require collateral. See Note 14 for information regarding concentrations associated with accounts receivable.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2 — Significant Accounting Policies During the six-month period ended June 30, 2019, there were no changes in the Company's significant accounting policies from its disclosures in the Annual Report on Form 10-K for the year ended December 30, 2018 except the new accounting standards adopted during the first six months of 2019. For a discussion of the significant accounting policies, please see the Annual Report on Form 10-K for the fiscal year ended December 30, 2018, filed with the SEC on March 15, 2019, as amended. Revenue Recognition The Company applies Accounting Standards Codification, or ASC, Topic 606, Revenue from Contracts with Customers , to recognize revenue. The guidance states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Under the new standard revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration it expects to receive in exchange for those products or services. The Company determines 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, a performance obligation is satisfied 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 variable consideration. As the Company’s standard payment terms are less than one year, the Company has elected, as a practical expedient, to not assess whether a contract has a significant financing component. The Company allocates the transaction price to each distinct product based on its relative stand-alone selling price. The product price as specified on the purchase order is considered the stand-alone selling price as it is an observable source that depicts the price as if sold to a similar customer in similar circumstances. Leases The Company adopted Accounting Standards Update, or ASU, No. 2016-02, Leases (Topic 842) . Under Topic 842, all significant lease arrangements are generally recognized at lease commencement. Operating lease right-of-use, or ROU, assets and lease liabilities are recognized at the commencement date. A ROU asset and corresponding lease liability is not recorded for leases with an initial term of 12 months or less (short term leases) and the Company recognizes lease expense for these leases as incurred over the lease term. ROU assets represent our right to use an underlying asset during the reasonably certain lease terms and lease liabilities represent our obligation to make lease payments arising from the lease. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company primarily uses its incremental borrowing rate, based on the information available at commencement date, in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments related to initial direct cost and prepayments and excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. Upon adoption of ASU No. 2016-02, the Company recognized right-of-use assets of approximately $975,000 and lease liabilities of approximately $939,000 on the Company’s Consolidated Balance Sheet as of March 31, 2019, with no material impact to its Consolidated Statements of operations. As of June 30, 2019, the Company recognized right-of-use assets of approximately $2.4 million and lease liability of approximately $2.3 million on the Company’s Consolidated Balance Sheet. See Note 8 and 15 to the Unaudited Consolidated Financial Statements for more details. Business Combinations The Company recognizes assets acquired (including goodwill and identifiable intangible assets) and liabilities assumed at fair value on the acquisition date. Subsequent changes to the fair value of such assets acquired and liabilities assumed are recognized in earnings, after the expiration of the measurement period, a period not to exceed 12 months from the acquisition date. Acquisition-related expenses and acquisition-related restructuring costs are recognized in earnings in the period in which they are incurred. Goodwill and Intangible Assets Goodwill represents the excess fair value of consideration transferred over the fair value of net assets acquired in business combinations. The carrying value of goodwill and indefinite lived intangible assets are not amortized, but are annually tested for impairment and more often if there is an indicator of impairment. Intangible assets with finite useful lives are amortized on a straight-line basis over the periods benefited. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset or asset group may not be recoverable. The assessment of possible impairment is based on the Company's ability to recover the carrying value of the asset or asset group from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. The measurement of impairment requires management to estimate future cash flows and the fair value of long-lived assets. Restricted cash Restricted cash represents amounts pledged as cash security related to the Silicon Valley Bank credit cards. New Accounting Pronouncements Recently adopted accounting pronouncements: In January 2017, the FASB issued Accounting Standards Update ASU No. 2017-04, Simplifying the Test for Goodwill Impairment G The guidance will be applied prospectively, and is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for any impairment tests performed on testing dates after January 1, 2017. In February 2018, FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income. In March 2018, FASB issued ASU No. 2018-05, Income Taxes (Topic 740) In June 2018, the FASB issued ASU No. 2018-07 , Improvements to nonemployee share-based payment accounting . Currently, share-based payments to nonemployees are accounted for under Subtopic 505-50, which significantly differs from the guidance for share-based payments to employees under Topic 718. This ASU supersedes Subtopic 505-50 by expanding the scope of Topic 718 to include nonemployee awards and generally aligning the accounting for nonemployee awards with the accounting for employee awards. The Company adopted this ASU on December 31, 2018 with no material impact on its results of operations, financial position and cash flows. Recently issued accounting pronouncements not yet adopted: In August 2018 the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Net Loss Per Share	Note 3 — Net Loss Per Share Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per share was computed using the weighted average number of common shares outstanding during the period plus potentially dilutive common shares outstanding during the period under the treasury stock method. In computing diluted net loss per share, the weighted average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options and warrants. For the three and six months ended June 30, 2019 and July 1, 2018, 8.0 million and 7.3 million of common shares associated with equity awards and the estimated number of shares to be purchased under the current offering period of the 2009 Employee Stock Purchase Plan were outstanding, respectively. These shares were not included in the computation of diluted net loss per share as they were considered anti-dilutive due to the net losses the Company experienced during these periods. Warrants to purchase up to 5.4 million shares were issued in connection with May 29, 2018 stock offering were also not included in the diluted loss per share calculation of the three and six months ended June 30, 2019 as they were also considered anti-dilutive due to the net loss the Company experienced during these periods.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Balance Sheet Components	Note 4 — Balance Sheet Components The following table provides details relating to certain balance sheet line items as of June 30, 2019, and December 30, 2018 (in thousands): June 30, 2019 December 30, 2018 Inventories: Raw materials $ 196 $ - Work-in-process 2,481 3,120 Finished goods 825 716 $ 3,502 $ 3,836 Other current assets: Prepaid expenses $ 1,360 $ 1,483 Other 357 292 $ 1,717 $ 1,775 Property and equipment: Equipment $ 10,729 $ 10,607 Software 1,823 2,788 Furniture and fixtures 55 42 Leasehold improvements 489 712 13,096 14,149 Less: Accumulated depreciation and amortization (11,986 ) (12,700 ) $ 1,110 $ 1,449 Accrued liabilities: Employee related accruals $ 739 $ 1,154 Other 568 749 $ 1,307 $ 1,903

Business Acquisition

Business Acquisition	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Business Acquisition	Note 5 — Business Acquisition SensiML Acquisition On January 3, 2019, the Company entered into a stock purchase agreement, or the Stock Purchase Agreement, with SensiML for the purchase of all of its issued and outstanding common stock in exchange for the Company’s common stock, or the SensiML Acquisition. SensiML has a software toolkit enabling IoT developers to quickly and easily create smart devices, transforming rich sensors into actionable event detectors. SensiML’s Analytics Toolkit is an end-to-end software suite that provides OEMs a straightforward process for developing pattern matching sensor algorithms using machine learning technology that are optimized for ultra-low power consumption. The SensiML Analytics Toolkit enables OEMs to quickly and easily leverage the power of local AI in edge, endpoint and wearable designs without the need for significant Data Science or Firmware Engineering resources. The results of operations for the Company for the three and six months ended June 30, 2019 include operating activity for SensiML since its acquisition date of January 3 Purchase Price Allocation Under the purchase accounting method, the total preliminary purchase price was allocated to SensiML’s net tangible and intangible assets based upon their estimated fair values as of the acquisition date. The excess purchase price over the value of the net tangible and identified intangible assets was recorded as goodwill. During the measurement period, which can be no more than one year from the date of acquisition, the Company expects to continue to obtain information to determine the final fair value of the net assets acquired at the acquisition date during the measurement period. Assets acquired and liabilities assumed are recorded based on valuations derived from estimated fair value assessments and assumptions used by the Company. Thus, the provisional measurements of fair value discussed above are subject to change. The Company expects to finalize the valuation as soon as practicable, but not later than one year from the acquisition date. While the Company believes that its estimates and assumptions underlying the valuations are reasonable, different estimates and assumptions could result in different valuations assigned to the individual assets acquired and liabilities assumed, and the resulting amount of goodwill. Intangible assets associated with the acquisition is primarily attributable to the future technology, market presence and knowledgeable and experienced workforce. The fair value assigned to identifiable intangible assets acquired was determined using the income approach taking into account the Company’s consideration of a number of inputs, including an independent third-party analysis that was based upon estimates and assumptions provided by the Company. These estimates and assumptions were determined through established and generally accepted valuation techniques. The estimated fair value of the tangible and intangible assets acquired was allocated at SensiML’s acquisition date. Although goodwill is not amortized for financial accounting purposes, it is amortized in its entirely for tax purposes over fifteen years. Goodwill recognized upon acquisition is not expected to be deductible for income tax purposes. The Stock Purchase Agreement contains customary representations and warranties between the Company and SensiML, who agreed to indemnify each other for certain breaches of representations, warranties, covenants and other specified matters. Approximately $200,000 in value of the Company’s common stock of the purchase price was placed in escrow as security for post-closing working capital adjustments.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 6 — Intangible Assets The following table provides the details of the carrying value of intangible assets recorded from the acquisition of SensiML during the six months of 2019 (in thousands): June 30, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology $ 959 $ (48 ) $ 911 Customer relationships 81 (20 ) 61 Trade names and trade marks 116 (6 ) 110 Total acquired identifiable intangible assets $ 1,156 $ (74 ) $ 1,082 The following table provides the details of annual amortization of intangible assets, based upon the current useful lives as of June 30, 2019 (in thousands): Amount Annual Fiscal Years 2019 (remaining period) $ 75 2020 148 2021 107 2022 107 2023 107 Thereafter 538 Total $ 1,082

Debt Obligations

Debt Obligations	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt Obligations	Note 7 — Debt Obligations Revolving Line of credit On September 28, 2018, the Company entered into a Loan Agreement with Heritage Bank. The Loan Agreement provided for, among other things, a Revolving Facility with aggregate commitments of $9,000,000, which was increased to $15,000,000 by an amended and restated agreement dated December 21, 2018. The maturity date for loans under the Revolving Facility is September 28, 2020. On December 21, 2018, the Company entered into an Amended and Restated Loan and Security Agreement, or the Amended and Restated Loan Agreement with Heritage Bank to replace in its entirety the Loan and Security Agreement entered on September 28, 2018. The Amended and Restated Loan Agreement increases the Revolving Facility from $9,000,000 to $15,000,000. The Amended and Restated Loan Agreement requires the Company to maintain at least $3,000,000 in unrestricted cash at Heritage Bank. The Company was in compliance with all loan covenants under the Amended and Restated Loan Agreement as of the end of the current reporting period. Loans under the Revolving Facility bear interest at a rate equal to one half of one percentage point (0.50%) above the variable rate of interest, per annum, that appears in The Wall Street Journal from time to time, whether or not such announced rate is the lowest rate available from Heritage Bank. As of June 30, 2019 and December 30, 2018, the Company had $15.0 million of revolving debt outstanding with an interest rate of 6.0% per annum.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Note 8 — Leases The Company entered into operating leases for office space for its headquarter, domestic and foreign subsidiaries and sales offices. Finance leases are primarily engineering design software. Operating leases generally have lease terms of 1 year to 5 years. Finance leases are generally 2 years to 3 years. During the second quarter of 2019, the Company recognized right-of-use assets of approximately $1.7 million and lease liability of approximately $1.7 million relating to the new operating leases signed for the premises of its headquarters in San Jose and its subsidiary SensiML in Oregon. The following table provides the details of operating and finance lease costs (in thousands): Three Six Months Ended June 30, 2019 June 30, 2019 Operating lease costs: Fixed $ 259 $ 411 Variable - - Short term 9 27 Total 268 438 Finance lease costs: Amortization of ROU asset 91 182 Interest 5 11 Total $ 96 $ 193 The following table provides the details of supplemental cash flow information (in thousands): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 451 Operating cash flows used for finance leases 10 Financing cash flows used for financing leases 194 Total $ 655 Right-of-use assets obtained in exchange for obligations: Operating leases $ 2,076 Finance leases 341 Total $ 2,417 The following table provides the details of right-of-use assets and lease liabilities as of June 30, 2019 (in thousands): June 30, 2019 Right-of-use assets: Operating leases $ 2,076 Finance leases 341 Total $ 2,417 Lease liabilities: Operating leases 2,100 Finance leases 230 Total $ 2,330 The following table provided the details of future lease payments for operating and finance leases as of June 30, 2019 (in thousands): . Annual Fiscal Years Operating Finance 2019 (Remaining period) $ 339 $ 183 2020 613 64 2021 494 - 2022 409 - 2023 421 - Thereafter 106 - Total lease payments 2,382 247 Less: Interest (282 ) (17 ) Present value of lease liabilities $ 2,100 $ 230 The following table provides the details of lease terms and discount rates as of June 30, 2019: June 30, 2019 Right-of-use assets: Weighted-average remaining lease term (years) Operating leases 4.17 Finance leases 0.76 Weighted-average discount rates: Operating leases 5.99 % Finance leases 7.00 %

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Pursuant to the accounting guidance for fair value measurements and its subsequent updates, fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market and assumptions that market participants would use when pricing the asset or liability. Our cash and cash equivalents include money market account balance of $26.7 million and money market funds of $262,000 as of June 30, 2019 and December 30, 2018, respectively. Investment in money market funds was classified within level 1 of the fair value hierarchy because they were valued using quoted market prices for identical assets. Fair value of the money market account balance with Heritage Bank equals to book value.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity	Note 10 — Stockholders' Equity Common Stock and Preferred Stock As of June 30, 2019, the Company was authorized to issue 200 million shares of common stock and had 10 million shares of authorized but unissued shares of preferred stock. Without any further vote or action by the Company's stockholders, the Board of Directors has the authority to determine the powers, preferences, rights, qualifications, limitations or restrictions granted to or imposed upon any wholly unissued shares of undesignated preferred stock. Issuance of Common Stock On June 21, 2019, the Company issued an aggregate of 18.4 million shares of common stock, including the exercise of option for overallotment of 2.4 million shares by the underwriters, $0.001 par value, in an underwritten public offering at a price of $ 0.50 per share. The company received net proceeds from the offering of approximately $8.3 million, net of underwriter’s commission and other offering expenses paid in the second quarter of 2019. On March 15, 2019, the Company filed a shelf registration statement on Form S-3, under which the Company may, from time to time, sell securities on one or more offerings up to a total amount of $75 million. The Company’s shelf registration statement was declared effective on March 29, 2019. In May, 2018, the company issued an aggregated of 13.5 million shares of common stock, and warrants to purchase up to an aggregate of 5.4 million shares of common stock in a confidentially marketed underwritten offering. The common stock and warrants were issued in units, or the Units, with each Unit consisting of (i) one share of common stock and (ii) a warrant to purchase 0.40 of a share of common stock, at a price of $1.15 per Unit. The Company received total net proceeds from the offering of $13.9 million. The warrants are exercisable any time for a period of 60 months from the date of issuance on May 29, 2018, and are exercisable at a price of $1.38 per share. The Company allocated the proceeds between the common stock and the warrants based on the relative fair value of each on the date of issuance. The estimated grant date fair value was $0.57 per warrant and was calculated based on the following assumptions used in the Black-Scholes model: expected term of 5 years, risk-free interest rate of 2.58%, expected volatility of 52.75% and expected dividend of zero.

Employee Stock Plans

Employee Stock Plans	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employee Stock Plans	2019 Stock Plan On April 24, 2019, the Company’s Board of Directors and shareholders approved the 2019 Stock Plan, or 2019 Plan, to replace the 2009 stock Plan, or the 2009 Plan. Under the 2019 Plan, 5,000,000 shares of common stock are available for grants, plus any shares subject to any outstanding options or other awards granted under the Company’s 2009 Stock Plan that expire, are forfeited, cancelled, returned to the Company for failure to satisfy vesting requirements, settled for cash or otherwise terminated without payment being made thereunder. The remaining balance of available shares under the 2009 Plan of 4,186,979 were cancelled as of April 24, 2019. Employee Stock Purchase Plan The 2009 Employee Stock Purchase Plan, or the 2009 ESPP, was adopted in March 2009. The 2009 ESPP was amended by the Board of Directors in January 2015 and in February 2017, and was approved by the Company's stockholders on April 23, 2015 and April 26, 2017, to reserve an additional 1.0 million and 1.5 million shares of common stock, respectively, for issuance under the 2009 ESPP. As of June 30, 2019, approximately 4.8 million shares of the Company’s common stock were reserved for issuance under the 2009 ESPP. On May 6, 2019, the Board of Directors approved the extension of the term of the 2009 ESSP to March 5, 2029, which also requires the stockholders’ ratification within 12 months of the approval by the Board of Directors. The Company plans to submit the extension of the term of the 2009 ESSP for our stockholders to ratify in the next annual general meeting, if not sooner.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 12 — Stock-Based Compensation Stock-based compensation expense included in the Company's consolidated financial statements for the three and six months ended June 30, 2019 and July 1, 2018 was as follows (in thousands): Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Cost of revenue $ 18 $ 35 $ 44 $ 69 Research and development 532 207 1,187 390 Selling, general and administrative 241 237 511 452 Total costs and expenses $ 791 $ 479 $ 1,742 $ 911 No stock-based compensation was capitalized during any period presented above. No stock options were granted during the three and six-month periods ended June 30, 2019 and July 1, 2018. As of June 30, 2019 and July 1, 2018, the fair value of unvested stock options, net of expected forfeitures, was approximately $102,000 and $200,000, respectively. The remaining unrecognized stock-based compensation expense relating to stock options is expected to be recognized over a weighted average period of 2.59 years as of June 30, 2019. Stock-Based Compensation Award Activity The following table summarizes the activity in the shares available for grant under the 2019 Plan and 2009 Plan during the six months ended June 30, 2019 (in thousands): Shares available for grants 2019 Plan 2009 Plan Balance at December 30, 2018 - 6,760 Authorized 5,000 - RSUs granted (794 ) (3,355 ) RSUs forfeited or expired 184 762 Options forfeited 15 20 Plan shares expired - (4,187 ) Balance at June 30, 2019 4,405 - Stock Options The following table summarizes stock options outstanding and stock option activity under the 2009 Plan and the 2019 Plan, and the related weighted average exercise price, for the six months ended June 30, 2019: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Balance outstanding at December 30, 2018 3,201 $ 2.18 Forfeited or expired (580 ) Exercised (4 ) Balance outstanding at June 30, 2019 2,617 $ 2.29 3.97 $ - Exercisable at June 30, 2019 2,383 $ 2.43 3.65 $ - Vested and expected to vest at June 30, 2019 2,594 $ 2.31 3.94 $ - The aggregate intrinsic value in the table above represents the total pretax intrinsic value, based on the Company's closing stock price of $0.58 as of June 30, 2019, which would have been received by the option holders had all option holders exercised their options as of that date. The total intrinsic value of options exercised during the six months ended June 30, 2019 and July 1, 2018 was $0 as the stock price was lower than exercise price. Total cash received from employees as a result of employee stock option exercises during the six months ended June 30, 2019 and July 1, 2018 was approximately $3,600 and $0, respectively. The Company settles employee stock option exercises with newly issued common shares. In connection with these exercises, there was no tax benefit realized by the Company due to the Company's current loss position. Total stock-based compensation related to stock options was $24,000 and $34,000 for the three months ended June 30, 2019 and July 1, 2018, respectively, and $49,000 and $72,000 for the six months ended June 30, 2019 and July 1, 2018, respectively. Restricted Stock Units The Company grants restricted stock units or RSUs, to employees and directors with various vesting terms. RSUs entitle the holder to receive, at no cost, one common share for each RSU as it vests. In general, the Company's policy is to withhold shares in settlement of employee tax withholding obligations upon the vesting of RSUs. The stock-based compensation related to RSUs was $756,000 and $382,000 for the three months ended and $1.6 million and $722,000 for six months ended June 30, 2019 and July 1, 2018, respectively. As of June 30, 2019 and July 1, 2018, there was approximately $3.1 million and $2.3 million, respectively, in unrecognized compensation expense related to RSUs. The remaining unrecognized stock-based compensation expense is expected to be recorded over a weighted average period of 1.76 years. A summary of activity for the Company's RSUs for the six months ended June 30, 2019 is as follows: RSUs & PRSUs Outstanding Number of Shares Weighted Average Grant Date Fair Value (in thousands) Nonvested at December 30, 2018 2,570 $ 1.23 Granted 4,148 0.85 Vested (926 ) 1.08 Forfeited (401 ) 0.96 Nonvested at June 30, 2019 5,391 $ 1.04 Employee Stock Purchase Plan As of June 30, 2019, 873,000 shares remained available for issuance under the 2009 ESPP. For the three months ended June 30, 2019 and July 1, 2018, the Company recorded stock-based compensation expense related to the 2009 ESPP of $11,000 and $63,000, respectively. For the six months ended June 30, 2019 and July 1, 2018, the Company recorded stock-based compensation expense related to the 2009 ESPP of $60,000 and $117,000, respectively. The weighted average estimated fair value, as defined by the amended authoritative guidance, of rights issued pursuant to the Company's 2009 ESPP during the second quarter ended June 30, 2019 and July 1, 2018, was $0.31 and $0.47, respectively, per right, respectively. The fair value of rights issued pursuant to the Company's 2009 ESPP was estimated on the commencement date of each offering period using the following weighted average assumptions: Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Expected term (months) 6.00 6.0 6.00 6.00 Risk-free interest rate 2.40 % 2.09 % 2.40 % 2.09 % Volatility 53.77 % 44.76 % 53.77 % 44.76 % Dividend yield — — — — As of June 30, 2019, there was no unrecognized stock-based compensation expense relating to the Company's 2009 ESPP.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 13 — Income Taxes The Company recorded a net income tax expense of $27,000 and $29,000 for the three months ended June 30, 2019 and July 1, 2018, respectively. For the six months ended June 30, 2019 and July 1, 2018 the Company recorded a net income tax benefit of $241,000 and tax expense of $90,000 respectively. A majority of the income tax expense for the second quarters of 2019 and 2018 and six months ended July 1, 2018 relates to the Company's foreign subsidiaries, which are cost-plus entities. Income tax benefit for the six months ended June 30, 2019 relates to the deferred tax benefit arising from Intangible assets acquired from the acquisition of SensiML, which was offset by the income taxes from the Company's foreign subsidiaries. The Company believes it is more likely than not that federal and state net deferred tax assets will not be fully realized. In assessing the realizability of deferred tax assets, the Company’s management considers whether it is more likely than not that some portion or all of our deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. A valuation allowance is recorded for loss carryforwards and other deferred tax assets where it is more likely than not that such deferred tax assets will not be realized. Accordingly, the Company continues to maintain a valuation allowance against all of U.S. and certain foreign net deferred tax assets as of June 30, 2019. The Company continues to maintain a full valuation allowance against net federal, state and certain foreign deferred tax assets until there is sufficient evidence to support recoverability of the Company’s deferred tax assets. The Company had no unrecognized tax benefits as of June 30, 2019 and December 30, 2018, which would affect the Company's effective tax rate. The Company does not anticipate any material changes to its unrecognized tax benefits during the next 12 months. Accrued interest and penalties related to unrecognized tax benefits are recognized as part of the income tax provision in the condensed consolidated statements of operations. The Company is subject to U.S. federal income tax as well as income taxes in many U.S. states and foreign jurisdictions in which the Company operates. The U.S. tax years from 1999 forward remain effectively open to examination due to the carryover of unused net operating losses and tax credits. Under the Tax Reform Act of 1986, the amount of and the benefit from net operating loss carryforwards and credit carryforwards may be impaired or limited in certain circumstances. Events which may restrict utilization of a company's net operating loss and credit carryforwards include, but are not limited to, certain ownership change limitations as defined in Internal Revenue Code Section 382 and similar state provisions. In the event the Company has had a change of ownership, utilization of carryforwards could be restricted to an annual limitation. The annual limitation may result in the expiration of net operating loss carryforwards and credit carryforwards before utilization. The Company has not undertaken a study to determine if its net operating losses are limited. In the event the Company previously experienced an ownership change, or should experience an ownership change in the future, the amount of net operating losses and research and development credit carryovers available in any taxable year could be limited and may expire unutilized.

Information Concerning Product

Information Concerning Product Lines, Geographic Information and Revenue Concentration	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Information Concerning Product Lines, Geographic Information and Revenue Concentration	Note 14 — Information Concerning Product Lines, Geographic Information and Revenue Concentration The Company identifies its business segment based on business activities, management responsibility and geographic location. For all periods presented, the Company operated in a single reportable business segment. The following is a breakdown of revenue by product line (in thousands): Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Revenue by product line (1) New products $ 711 $ 1,581 $ 1,398 $ 2,881 Mature products 1,376 1,541 3,883 3,005 Total revenue $ 2,087 $ 3,122 $ 5,281 $ 5,886 (1) For all periods presented: New products include all products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP license, Quick AI and Software revenues. Mature products include all products produced on semiconductor processes larger than 180 nanometer. The following is a breakdown of revenue by shipment destination (in thousands): Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Revenue by geography: Asia Pacific (1) $ 537 $ 1,372 $ 1,968 $ 2,293 North America (2) 1,066 1,474 2,229 3,039 Europe 484 276 1,084 554 Total revenue $ 2,087 $ 3,122 $ 5,281 $ 5,886 (1) (2) The following distributors and customers accounted for 10% or more of the Company's revenue for the periods presented: Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Distributor "A" 40 % 32 % 38 % 36 % Distributor "C" * * 12 % * Distributor "E" * 15 % * * Distributor "G" * 10 % 16 % * Customer "B" 18 % 14 % 13 % 12 % Customer "E" 18 % * * * Customer "H" * 16 % * 13 % Customer "I" * 10 % 16 % ` Customer "J" * 15 % * 16 % The following distributors and customers accounted for 10% or more of the Company's accounts receivable as of the dates presented: June 30, 2019 December 30, 2018 Distributor "A" 31 % 35 % Distributor “J” 23 % * Distributor "G" * 10 % Customer "L" 13 % * Customer "M" 10 % 23 % * Represents less than 10% of revenue and accounts receivable as of the date presented. As of June 30, 2019, 11% of the Company's long-lived assets, including property and equipment and other assets, were located outside the United States.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15 — Commitments and Contingencies Commitments The Company's manufacturing suppliers require the forecast of wafer starts several months in advance. The Company is required to take delivery of and pay for a portion of forecasted wafer volume. As of June 30, 2019, and December 30, 2018, the Company had $74,000 and $22,000, respectively, of outstanding commitments for the purchase of wafer and finished goods inventory. The Company has obligations with certain suppliers for the purchase of other goods and services entered into in the ordinary course of business. As of June 30, 2019, total outstanding purchase obligations for other goods and services were $1.2 million, all of which, except for $12,000 were due within the next twelve months.

Litigation

Litigation	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Litigation	Note 16 — Litigation From time to time, the Company may become involved in legal actions arising in the ordinary course of business including, but not limited to, intellectual property infringement and collection matters. Absolute assurance cannot be given that any such third party assertions will be resolved without costly litigation; in a manner that is not adverse to the Company’s financial position, results of operations or cash flows; or without requiring royalty or other payments which may adversely impact gross profit. As of June 30, 2019, the Company was not involved in any litigation.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 17 — Subsequent event Loan Repayment On July 1, 2019, the Company repaid $12.0 of its outstanding debt under the Revolving Facility with Heritage Bank at an interest rate of 6.0%.

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Fiscal period	QuickLogic's fiscal year ends on the Sunday closest to December 31 and each fiscal quarter ends on the Sunday closest to the end of each calendar quarter. QuickLogic's second fiscal quarters for 2019 and for 2018 ended on June 30, 2019 and July 1, 2018, respectively.
Liquidity	Liquidity The Company has financed its operations and capital investments through sales of common stock, finance leases, bank lines of credit and cash flows from operations. As of June 30, 2019, the Company's principal sources of liquidity consisted of cash and cash equivalents and restricted cash of $28.2 million, including $15.0 million drawn down from its revolving line of credit with Heritage Bank of Commerce, or Heritage Bank. The maturity date for loans under this revolving facility, or the Revolving Facility, is September 28, 2020. On June 21, 2019, the Company issued an aggregate of 18.4 million shares of common stock, $0.001 par value, including the exercise of option for overallotment of 2.4 million shares by the underwriters, in an underwritten public offering at a price of $ 0.50 per share. The company received net proceeds of approximately $8.3 million, after deducting underwriting commissions and other offering-related expenses paid in the second quarter of 2019. Various factors can 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 ArcticLink ® ® 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 the 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 September 2020, and its ability to raise additional capital in the public capital markets will be sufficient to satisfy its operations and capital expenditures. However, the Company cannot provide any assurance that it will be able to raise additional capital, if required, or that such capital will be available on terms acceptable to the Company. The inability of the Company to generate sufficient sales from its new product offerings and/or raise additional capital if needed could have a material adverse effect on the Company’s operations and financial condition, including its ability to maintain compliance with its lender’s financial covenants.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of QuickLogic and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated.
Foreign Currency	Foreign Currency The functional currency of the Company's non-U.S. operations is the U.S. dollar. Accordingly, all monetary assets and liabilities of these foreign operations are translated into U.S. dollars at current period-end exchange rates and non-monetary assets and related elements of expense are translated using historical exchange rates. Income and expense elements are translated to U.S. dollars using the average exchange rates in effect during the period. Gains and losses from the foreign currency transactions of these subsidiaries are recorded as interest income and other expense, net in the unaudited condensed consolidated statements of operations.
Uses of Estimates	Uses 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 materially from those estimates, particularly in relation to revenue recognition, the allowance for doubtful accounts, sales returns, valuation of investments, valuation of long-lived assets including mask sets, valuation of goodwill 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. Contracts 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 require significant judgment. Judgment is required to determine the Stand-alone Selling Price, or SSP, for each distinct performance obligation. The Company uses a range of amounts to estimate SSP when each of the products and services are sold separately and determines the discount to be allocated based on the relative SSP of the various products and services when products and services sold are bundled. In instances where SSP is not directly observable, such as when the Company does not sell the product or service separately, it determines the SSP using information that may include market conditions and other observable inputs. The Company typically has more than one SSP for individual products and services due to the stratification of those products and services by customers. In these instances, the Company may use information such as the size of the customer, customer tier, type of the technology used, customer demographics, geographic region and other factors in determining the SSP.
Concentration of Risk	Concentration of Risk The Company's accounts receivable 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 require collateral. See Note 14 for information regarding concentrations associated with accounts receivable.
Revenue Recognition	Revenue Recognition The Company applies Accounting Standards Codification, or ASC, Topic 606, Revenue from Contracts with Customers , to recognize revenue. The guidance states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Under the new standard revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration it expects to receive in exchange for those products or services. The Company determines 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, a performance obligation is satisfied 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 variable consideration. As the Company’s standard payment terms are less than one year, the Company has elected, as a practical expedient, to not assess whether a contract has a significant financing component. The Company allocates the transaction price to each distinct product based on its relative stand-alone selling price. The product price as specified on the purchase order is considered the stand-alone selling price as it is an observable source that depicts the price as if sold to a similar customer in similar circumstances.
Leases	Leases The Company adopted Accounting Standards Update, or ASU, No. 2016-02, Leases (Topic 842) . Under Topic 842, all significant lease arrangements are generally recognized at lease commencement. Operating lease right-of-use, or ROU, assets and lease liabilities are recognized at the commencement date. A ROU asset and corresponding lease liability is not recorded for leases with an initial term of 12 months or less (short term leases) and the Company recognizes lease expense for these leases as incurred over the lease term. ROU assets represent our right to use an underlying asset during the reasonably certain lease terms and lease liabilities represent our obligation to make lease payments arising from the lease. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company primarily uses its incremental borrowing rate, based on the information available at commencement date, in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments related to initial direct cost and prepayments and excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. Upon adoption of ASU No. 2016-02, the Company recognized right-of-use assets of approximately $975,000 and lease liabilities of approximately $939,000 on the Company’s Consolidated Balance Sheet as of March 31, 2019, with no material impact to its Consolidated Statements of operations. As of June 30, 2019, the Company recognized right-of-use assets of approximately $2.4 million and lease liability of approximately $2.3 million on the Company’s Consolidated Balance Sheet. See Note 8 and 15 to the Unaudited Consolidated Financial Statements for more details.
Business Combinations	Business Combinations The Company recognizes assets acquired (including goodwill and identifiable intangible assets) and liabilities assumed at fair value on the acquisition date. Subsequent changes to the fair value of such assets acquired and liabilities assumed are recognized in earnings, after the expiration of the measurement period, a period not to exceed 12 months from the acquisition date. Acquisition-related expenses and acquisition-related restructuring costs are recognized in earnings in the period in which they are incurred.
Intangible Assets and Goodwill	Goodwill and Intangible Assets Goodwill represents the excess fair value of consideration transferred over the fair value of net assets acquired in business combinations. The carrying value of goodwill and indefinite lived intangible assets are not amortized, but are annually tested for impairment and more often if there is an indicator of impairment. Intangible assets with finite useful lives are amortized on a straight-line basis over the periods benefited. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset or asset group may not be recoverable. The assessment of possible impairment is based on the Company's ability to recover the carrying value of the asset or asset group from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. The measurement of impairment requires management to estimate future cash flows and the fair value of long-lived assets.
Restricted cash	Restricted cash Restricted cash represents amounts pledged as cash security related to the Silicon Valley Bank credit cards.
New Accounting Pronouncements	New Accounting Pronouncements Recently adopted accounting pronouncements: In January 2017, the FASB issued Accounting Standards Update ASU No. 2017-04, Simplifying the Test for Goodwill Impairment G The guidance will be applied prospectively, and is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for any impairment tests performed on testing dates after January 1, 2017. In February 2018, FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income. In March 2018, FASB issued ASU No. 2018-05, Income Taxes (Topic 740) In June 2018, the FASB issued ASU No. 2018-07 , Improvements to nonemployee share-based payment accounting . Currently, share-based payments to nonemployees are accounted for under Subtopic 505-50, which significantly differs from the guidance for share-based payments to employees under Topic 718. This ASU supersedes Subtopic 505-50 by expanding the scope of Topic 718 to include nonemployee awards and generally aligning the accounting for nonemployee awards with the accounting for employee awards. The Company adopted this ASU on December 31, 2018 with no material impact on its results of operations, financial position and cash flows. Recently issued accounting pronouncements not yet adopted: In August 2018 the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement
Net Loss Per Share	Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per share was computed using the weighted average number of common shares outstanding during the period plus potentially dilutive common shares outstanding during the period under the treasury stock method. In computing diluted net loss per share, the weighted average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options and warrants.

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of supplemental balance sheet disclosures	The following table provides details relating to certain balance sheet line items as of June 30, 2019, and December 30, 2018 (in thousands): June 30, 2019 December 30, 2018 Inventories: Raw materials $ 196 $ - Work-in-process 2,481 3,120 Finished goods 825 716 $ 3,502 $ 3,836 Other current assets: Prepaid expenses $ 1,360 $ 1,483 Other 357 292 $ 1,717 $ 1,775 Property and equipment: Equipment $ 10,729 $ 10,607 Software 1,823 2,788 Furniture and fixtures 55 42 Leasehold improvements 489 712 13,096 14,149 Less: Accumulated depreciation and amortization (11,986 ) (12,700 ) $ 1,110 $ 1,449 Accrued liabilities: Employee related accruals $ 739 $ 1,154 Other 568 749 $ 1,307 $ 1,903

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table provides the details of annual amortization of intangible assets, based upon the current useful lives as of June 30, 2019 (in thousands): Amount Annual Fiscal Years 2019 (remaining period) $ 75 2020 148 2021 107 2022 107 2023 107 Thereafter 538 Total $ 1,082
Sensi ML
Schedule of Finite-Lived Intangible Assets	The following table provides the details of the carrying value of intangible assets recorded from the acquisition of SensiML during the six months of 2019 (in thousands): June 30, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology $ 959 $ (48 ) $ 911 Customer relationships 81 (20 ) 61 Trade names and trade marks 116 (6 ) 110 Total acquired identifiable intangible assets $ 1,156 $ (74 ) $ 1,082

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Summary of Operating and Finance Lease Costs	The following table provides the details of operating and finance lease costs (in thousands): Three Six Months Ended June 30, 2019 June 30, 2019 Operating lease costs: Fixed $ 259 $ 411 Variable - - Short term 9 27 Total 268 438 Finance lease costs: Amortization of ROU asset 91 182 Interest 5 11 Total $ 96 $ 193
Summary of Supplemental Cash Flow Information	The following table provides the details of supplemental cash flow information (in thousands): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 451 Operating cash flows used for finance leases 10 Financing cash flows used for financing leases 194 Total $ 655 Right-of-use assets obtained in exchange for obligations: Operating leases $ 2,076 Finance leases 341 Total $ 2,417
Details of Right-of-Use Assets and Lease Liabilities	The following table provides the details of right-of-use assets and lease liabilities as of June 30, 2019 (in thousands): June 30, 2019 Right-of-use assets: Operating leases $ 2,076 Finance leases 341 Total $ 2,417 Lease liabilities: Operating leases 2,100 Finance leases 230 Total $ 2,330
Schedule of Future Lease Payments for Leases	The following table provided the details of future lease payments for operating and finance leases as of June 30, 2019 (in thousands): . Annual Fiscal Years Operating Finance 2019 (Remaining period) $ 339 $ 183 2020 613 64 2021 494 - 2022 409 - 2023 421 - Thereafter 106 - Total lease payments 2,382 247 Less: Interest (282 ) (17 ) Present value of lease liabilities $ 2,100 $ 230
Schedule of Lease Terms and Weighted Average Discount Rate	The following table provides the details of lease terms and discount rates as of June 30, 2019: June 30, 2019 Right-of-use assets: Weighted-average remaining lease term (years) Operating leases 4.17 Finance leases 0.76 Weighted-average discount rates: Operating leases 5.99 % Finance leases 7.00 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of stock based compensation expense	Stock-based compensation expense included in the Company's consolidated financial statements for the three and six months ended June 30, 2019 and July 1, 2018 was as follows (in thousands): Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Cost of revenue $ 18 $ 35 $ 44 $ 69 Research and development 532 207 1,187 390 Selling, general and administrative 241 237 511 452 Total costs and expenses $ 791 $ 479 $ 1,742 $ 911
Summary of the activity in the shares available for grant	The following table summarizes the activity in the shares available for grant under the 2019 Plan and 2009 Plan during the six months ended June 30, 2019 (in thousands): Shares available for grants 2019 Plan 2009 Plan Balance at December 30, 2018 - 6,760 Authorized 5,000 - RSUs granted (794 ) (3,355 ) RSUs forfeited or expired 184 762 Options forfeited 15 20 Plan shares expired - (4,187 ) Balance at June 30, 2019 4,405 -
Summary of stock options outstanding and stock option activity and the related weighted average exercise price	The following table summarizes stock options outstanding and stock option activity under the 2009 Plan and the 2019 Plan, and the related weighted average exercise price, for the six months ended June 30, 2019: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Balance outstanding at December 30, 2018 3,201 $ 2.18 Forfeited or expired (580 ) Exercised (4 ) Balance outstanding at June 30, 2019 2,617 $ 2.29 3.97 $ - Exercisable at June 30, 2019 2,383 $ 2.43 3.65 $ - Vested and expected to vest at June 30, 2019 2,594 $ 2.31 3.94 $ -
Summary of activity for RSUs and PRSUs	A summary of activity for the Company's RSUs for the six months ended June 30, 2019 is as follows: RSUs & PRSUs Outstanding Number of Shares Weighted Average Grant Date Fair Value (in thousands) Nonvested at December 30, 2018 2,570 $ 1.23 Granted 4,148 0.85 Vested (926 ) 1.08 Forfeited (401 ) 0.96 Nonvested at June 30, 2019 5,391 $ 1.04
Summary of the fair value of rights issued pursuant to ESPP	The fair value of rights issued pursuant to the Company's 2009 ESPP was estimated on the commencement date of each offering period using the following weighted average assumptions: Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Expected term (months) 6.00 6.0 6.00 6.00 Risk-free interest rate 2.40 % 2.09 % 2.40 % 2.09 % Volatility 53.77 % 44.76 % 53.77 % 44.76 % Dividend yield — — — —

Information Concerning Produc_2

Information Concerning Product Lines, Geographic Information and Revenue Concentration (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of revenue by product line	The following is a breakdown of revenue by product line (in thousands): Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Revenue by product line (1) New products $ 711 $ 1,581 $ 1,398 $ 2,881 Mature products 1,376 1,541 3,883 3,005 Total revenue $ 2,087 $ 3,122 $ 5,281 $ 5,886 (1) For all periods presented: New products include all products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP license, Quick AI and Software revenues. Mature products include all products produced on semiconductor processes larger than 180 nanometer.
Schedule of revenue by shipment destination	The following is a breakdown of revenue by shipment destination (in thousands): Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Revenue by geography: Asia Pacific (1) $ 537 $ 1,372 $ 1,968 $ 2,293 North America (2) 1,066 1,474 2,229 3,039 Europe 484 276 1,084 554 Total revenue $ 2,087 $ 3,122 $ 5,281 $ 5,886 (1) (2)
Summary of distributors and customers accounting for 10% or more of revenue	The following distributors and customers accounted for 10% or more of the Company's revenue for the periods presented: Three Months Ended Six Months Ended June 30, 2019 July 1, 2018 June 30, 2019 July 1, 2018 Distributor "A" 40 % 32 % 38 % 36 % Distributor "C" * * 12 % * Distributor "E" * 15 % * * Distributor "G" * 10 % 16 % * Customer "B" 18 % 14 % 13 % 12 % Customer "E" 18 % * * * Customer "H" * 16 % * 13 % Customer "I" * 10 % 16 % ` Customer "J" * 15 % * 16 %
Schedule of distributors and customers accounting for 10% or more of accounts receivable	The following distributors and customers accounted for 10% or more of the Company's accounts receivable as of the dates presented: June 30, 2019 December 30, 2018 Distributor "A" 31 % 35 % Distributor “J” 23 % * Distributor "G" * 10 % Customer "L" 13 % * Customer "M" 10 % 23 % * Represents less than 10% of revenue and accounts receivable as of the date presented.

The Company and Basis of Pres_3

The Company and Basis of Presentation - Liquidity (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Jun. 21, 2019	Sep. 28, 2018	May 31, 2018	Jun. 30, 2019	Jun. 30, 2019	Jul. 01, 2018	Dec. 30, 2018
Liquidity [Line Items]
Cash, cash equivalents and restricted cash				$ 28,200	$ 28,200
Revolving line of credit				$ 15,000	$ 15,000		$ 15,000
Common stock, par value (in dollars per share)	$ 0.001			$ 0.001	$ 0.001		$ 0.001
Shares issued price per share (in dollars per share)	$ 0.50
Net proceeds from issuance of common stock			$ 13,900	$ 8,300	$ 9,439	$ 15,855
Heritage Bank | Revolving Line of Credit
Liquidity [Line Items]
Revolving line of credit				$ 15,000	$ 15,000		$ 15,000
Line of credit facility, maturity date		Sep. 28, 2020			Sep. 28, 2020
Common stock
Liquidity [Line Items]
Aggregate shares of common stock issued	18.4		13.5
Exercise of Option for Overallotment of Shares by Underwriters | Common stock
Liquidity [Line Items]
Aggregate shares of common stock issued	2.4

Significant Accounting Polici_2

Significant Accounting Policies (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Accounting Policies [Abstract]
Right of use assets	$ 2,417,000	$ 975,000
Lease Liabilities	$ 2,330,000	$ 939,000
Fair value of assets acquired and liabilities, Description	The Company recognizes assets acquired (including goodwill and identifiable intangible assets) and liabilities assumed at fair value on the acquisition date. Subsequent changes to the fair value of such assets acquired and liabilities assumed are recognized in earnings, after the expiration of the measurement period, a period not to exceed 12 months from the acquisition date. Acquisition-related expenses and acquisition-related restructuring costs are recognized in earnings in the period in which they are incurred

Net Loss Per Share (Details)

Net Loss Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018	May 31, 2018	May 29, 2018
Common stock | Maximum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants to purchase aggregate shares of common stock					5,400,000	5,400,000
2009 Stock Plans
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common shares (in shares)	8,000,000	7,300,000	8,000,000	7,300,000

Balance Sheet Components (Detai

Balance Sheet Components (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 30, 2018
Inventories:
Raw materials	$ 196
Work-in-process	2,481	$ 3,120
Finished goods	825	716
Inventories	3,502	3,836
Other current assets:
Prepaid expenses	1,360	1,483
Other	357	292
Other current assets	1,717	1,775
Property and equipment:
Property and equipment, gross	13,096	14,149
Less: Accumulated depreciation and amortization	(11,986)	(12,700)
Property and equipment, net	1,110	1,449
Accrued liabilities:
Employee related accruals	739	1,154
Other	568	749
Accrued liabilities	1,307	1,903
Equipment
Property and equipment:
Property and equipment, gross	10,729	10,607
Software
Property and equipment:
Property and equipment, gross	1,823	2,788
Furniture and fixtures
Property and equipment:
Property and equipment, gross	55	42
Leasehold improvements
Property and equipment:
Property and equipment, gross	$ 489	$ 712

Business Acquisition - Addition

Business Acquisition - Additional Information (Details) - Sensi ML - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jan. 03, 2019
Restructuring Cost And Reserve [Line Items]
Business Acquisition, Date of Agreement		Jan. 3, 2019
Amortization of intangible assets	$ 38,000	$ 74,000
Acquisition costs		$ 104,000
Common stock escrow security			$ 200,000

Intangible Assets - Schedule of

Intangible Assets - Schedule of Carrying Value of Intangible Assets (Details) $ in Thousands	Jun. 30, 2019USD ($)
Restructuring Cost And Reserve [Line Items]
Net Carrying Amount	$ 1,082
Sensi ML
Restructuring Cost And Reserve [Line Items]
Gross Carrying Amount	1,156
Accumulated Amortization	(74)
Net Carrying Amount	1,082
Sensi ML | Developed Technology
Restructuring Cost And Reserve [Line Items]
Gross Carrying Amount	959
Accumulated Amortization	(48)
Net Carrying Amount	911
Sensi ML | Customer Relationships
Restructuring Cost And Reserve [Line Items]
Gross Carrying Amount	81
Accumulated Amortization	(20)
Net Carrying Amount	61
Sensi ML | Trade Names and Trade Marks
Restructuring Cost And Reserve [Line Items]
Gross Carrying Amount	116
Accumulated Amortization	(6)
Net Carrying Amount	$ 110

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Annual Amortization of Intangible Assets (Details) $ in Thousands	Jun. 30, 2019USD ($)
Finite Lived Intangible Assets Future Amortization Expense [Abstract]
2019 (remaining period)	$ 75
2020	148
2021	107
2022	107
2023	107
Thereafter	538
Net Carrying Amount	$ 1,082

Debt Obligations - Revolving Li

Debt Obligations - Revolving Line of Credit (Details) - USD ($)	Sep. 28, 2018	Jun. 30, 2019	Dec. 30, 2018	Dec. 21, 2018
Liquidity [Line Items]
Revolving line of credit		$ 15,000,000	$ 15,000,000
Heritage Bank | Revolving Line of Credit
Liquidity [Line Items]
Line of credit aggregate commitments	$ 9,000,000			$ 15,000,000
Line of credit facility, maturity date	Sep. 28, 2020	Sep. 28, 2020
Minimum cash required for covenant related to credit facility				$ 3,000,000
Line of credit interest rate	0.50%
Revolving line of credit		$ 15,000,000	$ 15,000,000
Interest rate		6.00%	6.00%

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	Jun. 30, 2019USD ($)
Right of use asset	$ 2,076
Lease liability	2,100
Premises
Right of use asset	1,700
Lease liability	$ 1,700
Minimum
Operating leases, lease terms	1 year
Finance leases, lease terms	2 years
Maximum
Operating leases, lease terms	5 years
Finance leases, lease terms	3 years

Leases - Summary of Operating a

Leases - Summary of Operating and Finance Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Operating lease costs:
Fixed	$ 259	$ 411
Short term	9	27
Total	268	438
Finance lease costs:
Amortization of ROU asset	91	182
Interest	5	11
Total	$ 96	$ 193

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 451
Operating cash flows used for finance leases	10
Financing cash flows used for financing leases	194
Total	655
Right-of-use assets obtained in exchange for obligations:
Operating leases	2,076
Finance leases	341
Total	$ 2,417

Leases - Details of Right-of-Us

Leases - Details of Right-of-Use Assets and Lease Liabilities (Details) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
Right-of-use assets:
Operating leases	$ 2,076,000
Finance leases	341,000
Total	2,417,000	$ 975,000
Lease liabilities:
Operating leases	2,100,000
Finance leases	230,000
Total	$ 2,330,000	$ 939,000

Leases - Schedule of Future Lea

Leases - Schedule of Future Lease Payments for Leases (Details) $ in Thousands	Jun. 30, 2019USD ($)
Lessee Disclosure [Abstract]
Operating lease, 2019 (Remaining period)	$ 339
Operating lease, 2020	613
Operating lease, 2021	494
Operating lease, 2022	409
Operating lease, 2023	421
Operating lease, Thereafter	106
Operating lease, Total lease payments	2,382
Operating lease, Less: Interest	(282)
Operating leases	2,100
Finance lease, 2019 (Remaining period)	183
Finance lease, 2020	64
Finance lease, Total lease payments	247
Finance lease, Less: Interest	(17)
Finance lease, Present value of lease liabilities	$ 230

Leases - Schedule of Lease Term

Leases - Schedule of Lease Terms and Weighted Average Discount Rate (Details)	Jun. 30, 2019
Weighted-average remaining lease term (years)
Operating leases	4 years 2 months 1 day
Finance leases	9 months 3 days
Weighted-average discount rates:
Operating leases	5.99%
Finance leases	7.00%

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	Jun. 30, 2019	Dec. 30, 2018
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 26,700,000	$ 262,000

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock and Preferred Stock (Details) - shares	Jun. 30, 2019	Dec. 30, 2018
Equity [Abstract]
Common stock authorized to issue (in shares)	200,000,000	200,000,000
Preferred stock, authorized but unissued (in shares)	10,000,000	10,000,000

Stockholders' Equity - Issuance

Stockholders' Equity - Issuance of Common Stock and Warrants (Details)	Jun. 21, 2019$ / sharesshares	May 29, 2018$ / sharesshares	May 31, 2018USD ($)$ / sharesshares	Jun. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Jul. 01, 2018USD ($)	Mar. 29, 2019USD ($)offering	Dec. 30, 2018$ / shares
Class Of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.001			$ 0.001	$ 0.001			$ 0.001
Shares issued price per share (in dollars per share) | $ / shares	$ 0.50
Net proceeds from issuance of common stock | $			$ 13,900,000	$ 8,300,000	$ 9,439,000	$ 15,855,000
Shelf registration, number of offerings | offering							1
Shelf registration, maximum offering | $							$ 75,000,000
Number of common stock contain in each unit			1
Number of warrant contain in each unit			0.40
Exercise price of each unit | $ / shares			$ 1.15
Exercisable period of warrants		60 months
Strike price of warrants (in dollars per share) | $ / shares		$ 1.38
Fair value assumptions of warrants, expected term		5 years
Measurement Input, Share Price
Class Of Stock [Line Items]
Warrants and Rights Outstanding, Measurement Input		0.57
Measurement Input, Risk Free Interest Rate
Class Of Stock [Line Items]
Warrants and Rights Outstanding, Measurement Input		2.58
Measurement Input, Price Volatility
Class Of Stock [Line Items]
Warrants and Rights Outstanding, Measurement Input		52.75
Measurement Input, Expected Dividend Rate
Class Of Stock [Line Items]
Warrants and Rights Outstanding, Measurement Input		0
Common stock
Class Of Stock [Line Items]
Aggregate shares of common stock issued	18,400,000		13,500,000
Common stock | Maximum
Class Of Stock [Line Items]
Warrants to purchase aggregate shares of common stock		5,400,000	5,400,000
Exercise of Option for Overallotment of Shares by Underwriters | Common stock
Class Of Stock [Line Items]
Aggregate shares of common stock issued	2,400,000

Employee Stock Plans - 2019 Sto

Employee Stock Plans - 2019 Stock Plan (Details) - 2019 Plan	Apr. 24, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock are available for grants	5,000,000
Cancellation of Available shares	4,186,979

Employee Stock Plans - Employee

Employee Stock Plans - Employee Stock Purchase Plan (Details) - 2009 ESPP - shares	Apr. 26, 2017	Apr. 23, 2015	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares of common stock reserved for issuance (in shares)	1,500,000	1,000,000
Shares reserved for issuance (in shares)			4,800,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Allocation of Recognized Period Cost (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total costs and expenses	$ 791,000	$ 479,000	$ 1,742,000	$ 911,000
Stock-based compensation, capitalized costs	0	0	0	0
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total costs and expenses	18,000	35,000	44,000	69,000
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total costs and expenses	532,000	207,000	1,187,000	390,000
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total costs and expenses	$ 241,000	$ 237,000	$ 511,000	$ 452,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018	Dec. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of unvested stock options, net of unvested forfeitures	$ 102,000	$ 200,000	$ 102,000	$ 200,000
Share price (in dollars per share)	$ 0.58		$ 0.58
The total intrinsic value of options exercised			$ 0	0
Total cash received from employees as a result of employee stock option exercises			3,600	0
Total stock-based compensation	$ 791,000	$ 479,000	$ 1,742,000	$ 911,000
Weighted average estimated fair value (in dollars per share)	$ 1.04		$ 1.04		$ 1.23
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted in period	0	0	0	0
Total stock-based compensation	$ 24,000	$ 34,000	$ 49,000	$ 72,000
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, weighted average period			2 years 7 months 2 days
Unrecognized compensation expense	$ 0		$ 0
Common Stock are available for grants	873,000		873,000
Stock-based compensation expense	$ 11,000	$ 63,000	$ 60,000	$ 117,000
Weighted average estimated fair value (in dollars per share)	$ 0.31	$ 0.47	$ 0.31	$ 0.47
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 756,000	$ 382,000	$ 1,600,000	$ 722,000
Unrecognized compensation expense	$ 3,100,000	$ 2,300,000	$ 3,100,000	$ 2,300,000
Unrecognized stock-based compensation expense weighted average period			1 year 9 months 3 days

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Stock Based Compensation Award Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2019shares
Shares Available for Grant
RSUs granted (in shares)	(4,148)
Forfeited or expired (in shares)	401
2019 Plan | RSUs and Performance RSUs
Shares Available for Grant
Authorized (in shares)	5,000
Options forfeited (in shares)	15
Balance at end of period (in shares)	4,405
2019 Plan | Restricted Stock Units (RSUs)
Shares Available for Grant
RSUs granted (in shares)	(794)
Forfeited or expired (in shares)	184
2009 Plan | RSUs and Performance RSUs
Shares Available for Grant
Balance at beginning of period (in shares)	6,760
Options forfeited (in shares)	20
Plan shares expired (in shares)	(4,187)
2009 Plan | Restricted Stock Units (RSUs)
Shares Available for Grant
RSUs granted (in shares)	(3,355)
Forfeited or expired (in shares)	762

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Stock Options Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Number of Shares
Balance outstanding at beginning of period, (in shares) | shares	3,201
Forfeited or expired, (in shares) | shares	(580)
Exercised (in shares) | shares	(4)
Balance outstanding at end of period, (in shares) | shares	2,617
Exercisable, (in shares) | shares	2,383
Vested and expected to vest, (in shares) | shares	2,594
Weighted Average Exercise Price
Balance outstanding at beginning of period, (in dollars per share) | $ / shares	$ 2.18
Forfeited or expired, (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Balance outstanding at end of period, (in dollars per share) | $ / shares	2.29
Exercisable, (in dollars per share) | $ / shares	2.43
Vested and expected to vest, (in dollars per share) | $ / shares	$ 2.31
Weighted Average Remaining Term
Balance outstanding	3 years 11 months 19 days
Exercisable	3 years 7 months 24 days
Vested and expected to vest	3 years 11 months 8 days

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of Restricted Stock and Restricted Stock Units Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Number of Shares
Nonvested at beginning of period, (in shares) | shares	2,570
Granted, (in shares) | shares	4,148
Vested, (in shares) | shares	(926)
Forfeited, (in shares) | shares	(401)
Nonvested at end of period, (in shares) | shares	5,391
Weighted Average Grant Date Fair Value
Nonvested at beginning of period, (in dollars per share) | $ / shares	$ 1.23
Granted, (in dollars per share) | $ / shares	0.85
Vested, (in dollars per share) | $ / shares	1.08
Forfeited, (in dollars per shares) | $ / shares	0.96
Nonvested at end of period, (in dollars per share) | $ / shares	$ 1.04

Stock-Based Compensation - Sc_5

Stock-Based Compensation - Schedule of Employee Stock Purchase Plan (Details) - ESPP	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (months)	6 months	6 months	6 months	6 months
Risk-free interest rate	2.40%	2.09%	2.40%	2.09%
Volatility	53.77%	44.76%	53.77%	44.76%
Dividend yield	0.00%	0.00%	0.00%	0.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018	Dec. 30, 2018
Income Tax Disclosure [Abstract]
Net income tax expense (benefit)	$ 27,000	$ 29,000	$ (241,000)	$ 90,000
Unrecognized tax benefits that would affect effective tax rate	$ 0		$ 0		$ 0

Information Concerning Produc_3

Information Concerning Product Lines, Geographic Information and Revenue Concentration - Schedule of Revenue by Product Line (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Revenue from External Customer [Line Items]
Total revenue	$ 2,087	$ 3,122	$ 5,281	$ 5,886
New products
Revenue from External Customer [Line Items]
Total revenue	711	1,581	1,398	2,881
Mature products
Revenue from External Customer [Line Items]
Total revenue	$ 1,376	$ 1,541	$ 3,883	$ 3,005

Information Concerning Produc_4

Information Concerning Product Lines, Geographic Information and Revenue Concentration - Schedule of Revenue by Shipment Destination (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 2,087	$ 3,122	$ 5,281	$ 5,886
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	537	1,372	1,968	2,293
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	1,066	1,474	2,229	3,039
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	484	276	1,084	554
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 330	$ 632	$ 764	$ 1,000
Japan | Total Revenue
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of total revenue	16.00%	20.00%	14.00%	17.00%
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 119	$ 466	$ 1,100	$ 602
China | Total Revenue
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of total revenue	6.00%	15.00%	20.00%	10.00%
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 1,100	$ 1,400	$ 2,200	$ 3,000
United States | Total Revenue
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of total revenue	51.00%	46.00%	42.00%	50.00%

Information Concerning Produc_5

Information Concerning Product Lines, Geographic Information and Revenue Concentration - Schedule of Customer and Distributor Concentration (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018	Dec. 30, 2018
Distributor A
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers	40.00%	32.00%	38.00%	36.00%
Percentage of accounts receivable from major customer	31.00%		31.00%		35.00%
Distributor C
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers			12.00%
Distributor E
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers		15.00%
Distributor G
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers		10.00%	16.00%
Percentage of accounts receivable from major customer					10.00%
Customer B
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers	18.00%	14.00%	13.00%	12.00%
Customer E
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers	18.00%
Customer H
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers		16.00%		13.00%
Customer J
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers		15.00%		16.00%
Customer I
Revenue, Major Customer [Line Items]
Percentage of revenue from major distributors and customers		10.00%	16.00%
Distributor J
Revenue, Major Customer [Line Items]
Percentage of accounts receivable from major customer	23.00%		23.00%
Distributor L
Revenue, Major Customer [Line Items]
Percentage of accounts receivable from major customer	13.00%		13.00%
Customer M
Revenue, Major Customer [Line Items]
Percentage of accounts receivable from major customer	10.00%		10.00%		23.00%

Information Concerning Produc_6

Information Concerning Product Lines, Geographic Information and Revenue Concentration - Narrative (Details)	6 Months Ended
	Jun. 30, 2019
Outside United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of long lived assets, including property and equipment and other assets	11.00%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($)	Jun. 30, 2019	Dec. 30, 2018
Purchase Commitment Excluding Longterm Commitment [Line Items]
Purchase obligations due within next twelve months	$ 12,000
Wafer and finished goods inventory
Purchase Commitment Excluding Longterm Commitment [Line Items]
Outstanding commitment for purchases	74,000	$ 22,000
Other goods and services
Purchase Commitment Excluding Longterm Commitment [Line Items]
Total outstanding purchase obligations	$ 1,200,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	Jul. 01, 2019	Jun. 30, 2019	Jul. 01, 2018
Subsequent Event [Line Items]
Repayment of line of credit		$ 20,000	$ 12,000
Subsequent Event
Subsequent Event [Line Items]
Repayment of line of credit	$ 12,000
Interest rate	6.00%