QuickLogic announced a new $10 million revolving credit facility with Sunflower Bank effective April 27 2026, replacing its prior $20 million facility with Heritage Bank of Commerce. The new facility is senior secured, has a three‑year term, and matures on April 24 2029.
The facility expands QuickLogic’s working‑capital capacity and provides a buffer for capital‑intensive projects. The company’s cash balance was $17.3 million as of September 28 2025, with $15 million drawn from the prior facility. The new line adds $10 million of available credit, extending runway and supporting the upcoming SRH FPGA test‑chip delivery and the launch of its storefront IP business.
CFO Elias Nader said the new banking relationship strengthens QuickLogic’s financial foundation and provides operational flexibility to execute on strategic initiatives, including the Strategic Radiation Hardened FPGA development for the US Government, expanding process‑technology support of its eFPGA Hard IP licensing, and supplementing its storefront business.
The company’s quarterly burn rate of $1.5‑$2 million and a $3.2 million non‑GAAP net loss in Q3 2025 indicate that the additional credit line will help maintain liquidity while the company pursues growth in its SRH FPGA program, which received a $13 million contract tranche in February 2026 and is slated for test‑chip delivery in late Q1 2026.
The eFPGA IP expansion includes a contract for enhancements on Intel 18A technology and a $1 million contract for a data‑center ASIC, positioning QuickLogic to capture recurring revenue from off‑the‑shelf FPGA and eFPGA sales. The new facility also supports the company’s transition to a pure‑play IP model.
Bank executive Steven Hamilton noted that Sunflower Bank is pleased to provide a senior secured credit facility as part of an integrated banking solution designed to support QuickLogic’s growth objectives, and that the bank values the strong relationship with the company and its management team.
No immediate market reaction to the credit facility announcement was reported, and the facility is expected to give QuickLogic additional flexibility as it navigates its strategic pivot and capital‑intensive projects.
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