Forensic Analysis · IDM / Foundry · as of Nov 10, 2026
Quicklogic Corp (QUIK)
A forensic read on Quicklogic Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
-23.9
Distress distance
Clean
Earnings quality
5
Forensic signals
-62.6%
ROE
-29.9%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Quicklogic Corp earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -23.9, placing it in the Distress zone. 5 forensic signals were flagged in its latest SEC filings, led by receivables vs revenue.
What the filings flag
74d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 45 to 74 days FY2024→FY2025 (receivables +15% vs revenue -30%). Receivables are outrunning sales — a flag for aggressive revenue recognition or slipping collections. Across FY2023–FY2025 the day count ran 28 → 45 → 74 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter. Deferred revenue was roughly flat (-86%) over the same period, which doesn't corroborate a benign upfront-billing explanation for the receivables build. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.DSO (days sales outstanding): the average days the company waits to collect cash after a sale.
-201.7%
FY2025
Return on invested capital.Return on invested capital is -201.7% in the latest fiscal year.
+9.9%/yr
FY2023–FY2025
Share-count dilution.Basic share count changed +21% over the last 2 years to FY2025 (+9.9%/yr). The count is growing — 13.5M shares in FY2023, 16.2M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~9.9% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~17%.
24% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 24% of revenue in FY2025 — about $0.20 per basic share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the basic count still rose about 9.9% a year across FY2023–FY2025 and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
$200,000
FY2025
Goodwill impairments.Took $200,000 of goodwill writedowns across 1 year (FY2025 ($200,000)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$13.8M
Revenue Growth YoY-29.9%
Revenue CAGR (2yr)-19.4%
Net Margin-107.6%
Free Cash Flow-$7.0M
Return on Equity-62.6%
Debt / Equity0.13x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Quicklogic Corp's actual 10-K/10-Q/8-K filings?