Aug. 20 at 12:39 AM
$QUIK
QUIK has been making a transition from a sensor, AI edge and smartphone FPGA company, back to it's roots as a military supplier, and now aggressive process node high density FPGA and eFPGA Hard IP company for three years now.
The transition up to now has not advanced to the point where contracts are numerous enough to smooth out quarterly revenue, so any hiccups by customers can cause a drop in revenue guidance.
I took a closer look at the 2022 August call compared to this one.
It turns out they are very similar.
In the Q2 2022 call, QUIK reported
$4.5M revenue, but guided Q3 to
$3.4M
In this last call, QUIK reported
$3.7M but guided Q3 to
$2M.
In both quarters they announced a shelf offering.
So it is not surprising the market reaction is also similar.
I scrolled my daily charts back to 2022 to look at trading.
I am lucky to have historical data to do that.
The rectangle in the chart below covers the 15 session drop after the Q2 2022 call.
Volume was also higher, like now.
