QuickLogic is a small fabless semiconductor company focused on two core products: embedded FPGA (eFPGA) intellectual property (IP) and discrete FPGA devices. On the eFPGA side, QuickLogic licenses programmable logic IP to semiconductor companies and defense contractors, who embed it directly into their own custom chips rather than pairing a separate FPGA alongside an ASIC — reducing cost, board space, and power consumption. QuickLogic generates revenue from upfront non-recurring engineering (NRE) fees tied to IP customization and delivery, and earns royalties as customer chips reach production. A proprietary tool called Australis allows QuickLogic to generate customized eFPGA architectures for specific process nodes. QuickLogic's discrete FPGA business sells standalone programmable logic chips, primarily into aerospace, defense, and industrial applications, using a proprietary one-time-programmable architecture valued for security and low power. This legacy business generates roughly $4M annually and is in secular decline. Beyond these two product lines, QuickLogic holds a U.S. government contract to develop strategic radiation-hardened (SRH) FPGAs on GlobalFoundries' 12LP process, which it plans to sell directly as catalog products to defense contractors — a "storefront" model that represents a newer and growing part of the business. Two customers together account for 55% of revenue, and revenue is lumpy quarter-to-quarter given its project-driven nature. QuickLogic is not yet consistently profitable.