and for was XXXX XX%. financial year our expectations during results million call. thank On increased and pivotal you, of Revenue Good our in Thank with of you everyone, QuickLogic. a our fourth the quarter line for annual the $X.X provided joining afternoon, all an QX culmination basis, approximately total conference third was call. revenue by quarter Alison. fiscal we
More Revenue by new importantly, XX%, we New we years. products, last performance operating the products, IP-based Software on results by of shipments eFPGA primarily These connectivity grew SensiML Product best of smart licensing and Platform. our our delivered in and driven continued are display our non-GAAP XX AI wins our and
and had the we I like QuickLogic many company and incredible in drive the SensiML XXXX. to would determination. significant for their thank for accomplishments Together, teams
installed recently a highlights, address the customers’ its of at products. the of broad customer toolkit well. as and there large not force. win is and additional result validates base significant provides Looking significant semiconductor This line edge SensiML-powered SensiML technology the revenue across to integrate of as a deal of opportunities top-tier this SensiML own IoT potential labeling private be year’s its sales demand a since AI microcontroller similar with at some company further a signed solution to for And their could our exclusive,
Government. of next notification be of XXXX with largest the at our new the Technology. FPGA successful for the to contributor largest time, develop the first Strategic of in for revenue Contract anticipated the continue Hardened Radiation to to The and the Also program expected is performance summer contract discretion in milestone upon and, Government signed a XXXX, our U.S. we in Base ever, performer U.S. became to eFPGA the prime the
the over for the reminder, years. allows Options span totaling approximately million a $XX of As Contract four
eFPGA numerous as for semi-custom opportunities, our markets. million. both as development IP-based well now eFPGA technologies IP device Included are bespoke, On number sales foundries, numerous process deals incorporates the end deals over and that funnel our in of $XXX These eFPGA IP. span or this is strength our
of QuickLogic’s history, is in it Defense our million radiation it dollars I the sales does the that possible of We strategic the nor of in hardened coming program, Technology the emphasize While a entirety in want hundred include funnel intent government FPGA be largest U.S. years. million the size device believe capturing this $XXX customers. and this any to include the several not share to of Industrial to market are Base on does
and funnel exceeding of makes confident in deals our XXXX. XX% of us the sales The growth increased the target magnitude of of diversity organic our
One of ability to starting of that offer is investors asked IP. shared. all ranging to driving is especially the “what times?” answer our to designs our that XXX full unique A from spectrum funnel full by eFPGA which is, is chip Fortune during pay dividends way question, something a to a question IP incorporate going CEO economic I’m I’m strengths often solutions share To your these uncertain that recently sales growth,
large to OpEx. enable the developing AI high of of automates SensiML saving They process fixed from for the data companies Edge in scientists. our OpEx SensiML are Both this. cost of save investing teams IoT, products and employing eFPGA-based
our and address the redesign ASIC our Furthermore, automated, to deliver eFPGA customers. OpEx faster highly more to enables of to to bypass in investing for save Again, a design IP requirements. Australis IP costly our design OpEx. IP eFPGA their and very generator new SoC new because we Our cost-effectively is or can need customers
further, business model will in bit eFPGA recently latest our as outlined presentation. investor I also expand the on IP-based a
design for events, the IP licenses sources bespoke do we delivery with one-time Royalties or IP IP typically from customer. our we final our as engineering are work. revenue typically finally, include how could recognized finished services buying the to us. This the our be to could ones it produce means have the for services, IP small expertise customer, category, royalty, of as they in to the devices recognized are test volume R&D place the customers because and the ASP, lack storefront eFPGA-enabled that supply a is products, is don’t the developing typically recognized being product that resources production. a devices customer our And ship or a sales. be and of devices device our device IP. primary Design chain this storefront within license, that simply finally, monetize a in multiple have develop percentage they for We device
are supply decades more to just this reasons be opportunities many can provider. had place is one than in IP chain with am this winning an we this convinced the value expertise and We’ve I monetize our of customers. and for why
of in by defense, and and non-GAAP XXXX positive see as for events leverage to IoT, will the improvement tip the operating midyear, as programmable began confluence The the grow annual have tremendous the just to our non-consumer such our Increased market, and continue industrial We significant are focus iceberg, XXXX. a in from top-line profitability believe investments operating achieving automation. bottom-line I of in results market for markets logic, we as we XXXX. aerospace, income well quarterly and in faster than fiscal appetite on
I initiatives shared have device that In our customer IP. we discussed calls. Now, eFPGA incorporates let’s on specific for new review November, a taped that a out several we had prior
planned, for device receipt fabrication than wafer chips. of we QX, While this the cycle at the we outsourced end had just prototype packaged the initially much ship units recently planned test of longer and took to took
Due these requirements, revenue process in Our quarter, from this team starting to to of millions now. we engineering devices years. a potential XXXX in assuming believe XXXX. share device the revenue the are I in to I are move specific in win couple the QX confidentiality will not Due test the dollars of is validating from where QX any it details further other am allowed we design to of than tens of represents chips on
year. pipeline One the new believe number is a to nanometer fiscal this targeting a node, node. XX several process of more be process of a contract This our first our IP-based contract during for there contributors XX eFPGA is nanometer we government-focused will growth
this across ETH as we to to code-named core, nanometer GlobalFoundries use Arnold, co-processor RISC-V to XXXX, the this the using revenue use very namely developed expect from the and a case with The XX recognize We similar beginning a for jointly contract eFPGA is Zurich, IP FD-SOI co-published quarter. cases process.
Earlier this tool code development scalability, of eFPGA language our a Aurora X.X version Aurora open-source month based with The implementation we and Suite longevity, Tool on our full suite is expanded transparency. support. released new Development for fully
Corporation announced the and combine growth, improve accelerate of with sales enhance channel dramatic of embedding we partnerships can advantages the eFPGA Technology. lifecycles SoC devices to sales Andes technology into flexibility top-of-funnel our profitability. with Technology To and their and tools FPGA IP open-source Yu-Hsin expanding device Layout are developers benefits
in attention for chiplets. development. expect continue engage opportunities our either are high to custom the design approach amount chiplets, and an cost Moving services customers category. and/or incredibly year chiplet would been market revenue increasing has of funnel, the interested to generate sales fall of into and the this we licensing There do from IP we to counter silicon There to in chiplet in this fiscal some with that
to their smartphone the still of reduced will have believe mobile as well being being see inventory weakness. into into primary models XXXX. they we designed ship we focus our continue That are market we on continue phone that our While position business, is phones to new digesting said, customer
We at expect this inventory continue through least QX year. this to digestion of
as prior macro-economic Mature the demand both impacted by are the being wins. eFPGA Product well-publicized will quarter. continue much Finally, we even come factors, to be Bridge path Display will by products to uplift, our gross profile $XXX,XXX as of from design current part from segments and reduce quarter profitability believe and an our primarily to IP-related will margin Mature revenue integral contribute which though our
to the of call a to for want offer Elias, peek and our outlook into the turning XXXX. QX Before revenue provide I remainder
QX be incorporates our in and plus made around segment sequential supports a As forecast over prepared remarks, XX%. software to expectation groundwork business my of aggregate in has progress decline earlier revenue for we for our current the building in have two in growing minus mature led our significant which smartphone pipeline, IP-related This $X.X product million, to years. diverse business our approximately past This an and and discussed or $XXX,XXX.
to than increase have Our as of seeing by current as forecast XXXX annual income starting well levels, in basis. only I the margin chance current expense of over on fiscal as revenue on million assuming XXXX, And more us pace and QX good quarter operating in fiscal XX% non-GAAP revenue, QX believe XXXX. gross operating $X putting we positive below has a an
review to please turn Elias me Let call of now for the the a over results. Elias, financial
ahead. go
