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QuickLogic Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results

Published

2 years ago

on

SAN JOSE, Calif. , Feb. 25, 2025 /PRNewswire/ — QuickLogic Corporation (NASDAQ: QUIK) (“QuickLogic” or the “Company”), a developer of embedded FPGA (eFPGA) IP, ruggedized FPGAs and Endpoint AI solutions, today announced its financial results for the fiscal fourth quarter and fiscal year that ended December 29, 2024.

Recent Highlights

Awarded $1.1 million eFPGA Hard IP contract with new defense industrial base customer last weekAnnounced $6.6 million fourth tranche of the Strategic Radiation Hardened FPGA Technology US Government contractOn track to complete the first eFPGA Hard IP core optimized for Intel 18A during Q1Announced the integration of the Synopsys Synplify® synthesis tool into Aurora 2.9 Pro FPGA User ToolsStrengthened sales team with the appointment of former FlexLogix VP Andy Jaros to VP of IP SalesSigned distribution agreement with Magenta to expand distribution network to Turkiye and UAEAnnounced strategic process for SensiML

“With the continued execution on the Strategic Radiation Hardened FPGA contract with the US government, an influx of opportunities after a key competitor exited the market and being the first, and at this time, only company to offer eFPGA Hard IP for Intel 18A, we believe we are well positioned to return to sound revenue growth in 2025,” said Brian Faith, CEO of QuickLogic. “We believe this growth, combined with our ability to leverage the eFPGA Hard IP we have established for six unique fabrication processes and the Hard IP Cores in our library that are being reused; we believe we are very well positioned to achieve non-GAAP profitability and positive cash flow for full-year 2025.”

Fiscal Fourth Quarter 2024 Financial Results

Total revenue for the fourth quarter of fiscal 2024 was $5.7 million, a decrease of 23.7% compared with the fourth quarter of 2023 and an increase of 33.5% compared with the third quarter of 2024.

New product revenue was approximately $4.7 million in the fourth quarter of 2024, a decrease of $2.2 million, or 31.8%, compared with the fourth quarter of 2023 and an increase of $1.1 million, or 31.7%, compared with the third quarter of 2024. The decreases in total revenue and new product revenue from the same period a year ago were mostly due to the timing of awards for certain large eFPGA IP contracts.

Mature product revenue was $1.0 million in the fourth quarter of 2024. This compares to $0.7 million in the fourth quarter of 2023 and $0.7 million in the third quarter of 2024.

Fourth quarter 2024 GAAP gross margin was 59.8% compared with 77.1% in the fourth quarter of 2023 and 55.8% in the third quarter of 2024.

Fourth quarter 2024 non-GAAP gross margin was 62.0% compared with 78.3% in the fourth quarter of 2023 and 60.0% in the third quarter of 2024.

Fourth quarter 2024 GAAP operating expenses were $3.6 million compared with $3.7 million in the fourth quarter of 2023 and $4.2 million in the third quarter of 2024.

Fourth quarter 2024 non-GAAP operating expenses were $2.9 million compared with $3.1 million in the fourth quarter of 2023 and $3.3 million in the third quarter of 2024.

Fourth quarter 2024 GAAP net loss was ($0.3 million), or ($0.02) per share, compared with net income of $2.0 million, or $0.15 per basic share or $0.14 per diluted share, in the fourth quarter of 2023, and a net loss of ($2.1 million), or ($0.14) per share, in the third quarter of 2024.

Fourth quarter 2024 non-GAAP net income was $0.6 million, or $0.04 per share, compared with net income of $2.6 million, or $0.19 per basic share or $0.18 per diluted share, in the fourth quarter of 2023 and a net loss of ($0.9 million), or ($0.06) per share, in the third quarter of 2024.

Conference Call

QuickLogic will hold a conference call at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time today, February 25, 2025, to discuss its current financial results. The conference call will be webcast on QuickLogic’s IR Site Events Page at https://ir.quicklogic.com/ir-calendar. To join the live conference, you may dial (877) 407-0792 and international participants should dial (201) 689-8263 by 2:20 p.m. Pacific Time. No Passcode is needed to join the conference call. A recording of the call will be available approximately one hour after completion. To access the recording, please call (844) 512-2921 and reference the passcode 13751688.

The call recording, which can be accessed by phone, will be archived through March 4, 2025, and the webcast will be available for 12 months on the Company’s website.

About QuickLogic

QuickLogic is a fabless semiconductor company that develops innovative embedded FPGA (eFPGA) IP, discrete FPGAs, and FPGA SoCs for a variety of industrial, aerospace and defense, edge and endpoint AI, consumer, and computing applications. Our wholly owned subsidiary, SensiML Corporation, completes the end-to-end solution portfolio with AI / ML software that accelerates AI at the edge/endpoint. For more information, visit www.quicklogic.com.

QuickLogic uses its website (www.quicklogic.com), the company blog (https://www.quicklogic.com/blog/), corporate Twitter account (@QuickLogic_Corp), Facebook page (https://www.facebook.com/QuickLogic), and LinkedIn page (https://www.linkedin.com/company/13512/) as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and QuickLogic may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the Company’s website and its social media accounts in addition to following the Company’s press releases, SEC filings, public conference calls, and webcasts.

Non-GAAP Financial Measures

QuickLogic reports financial information in accordance with United States Generally Accepted Accounting Principles, or U.S. GAAP, but believes that non-GAAP financial measures are helpful in evaluating its operating results and comparing its performance to comparable companies. Accordingly, the Company excludes certain charges related to stock-based compensation, in calculating non-GAAP (i) income (loss) from operations, (ii) net income (loss), (iii) net income (loss) per share, and (iv) gross margin percentage. The Company provides this non-GAAP information to enable investors to evaluate its operating results in a manner like how the Company analyzes its operating results and to provide consistency and comparability with similar companies in the Company’s industry.

Management uses the non-GAAP measures, which exclude gains, losses, and other charges that are considered by management to be outside of the Company’s core operating results, internally to evaluate its operating performance against results in prior periods and its operating plans and forecasts. In addition, the non-GAAP measures are used to plan for the Company’s future periods and serve as a basis for the allocation of the Company’s resources, management of operations and the measurement of profit-dependent cash, and equity compensation paid to employees and executive officers.

Investors should note, however, that the non-GAAP financial measures used by QuickLogic may not be the same non-GAAP financial measures and may not be calculated in the same manner as that of other companies. QuickLogic does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures alone or as a substitute for financial information prepared in accordance with U.S. GAAP. A reconciliation of U.S. GAAP financial measures to non-GAAP financial measures is included in the financial statements portion of this press release. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of non-GAAP financial measures with their most directly comparable U.S. GAAP financial measures.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our future profitability and cash flows, expectations regarding our future business and statements regarding the timing, milestones, and payments related to our government contracts, and statements regarding our ability to successfully exit SensiML, and actual results may differ due to a variety of factors including: delays in the market acceptance of the Company’s new products; the ability to convert design opportunities into customer revenue; our ability to replace revenue from end-of-life products; the level and timing of customer design activity; the market acceptance of our customers’ products; the risk that new orders may not result in future revenue; our ability to introduce and produce new products based on advanced wafer technology on a timely basis; our ability to adequately market the low power, competitive pricing and short time-to-market of our new products; intense competition by competitors; our ability to hire and retain qualified personnel; changes in product demand or supply; general economic conditions; political events, international trade disputes, natural disasters and other business interruptions that could disrupt supply or delivery of, or demand for, the Company’s products; and changes in tax rates and exposure to additional tax liabilities. These and other potential factors and uncertainties that could cause actual results to differ materially from the results contemplated or implied are described in more detail in the Company’s public reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risks discussed in the “Risk Factors” section in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and in the Company’s prior press releases, which are available on the Company’s Investor Relations website at http://ir.quicklogic.com/, and on the SEC website at www.sec.gov/. In addition, please note that the date of this press release is February 25, 2025, and any forward-looking statements contained herein are based on management’s current expectations and assumptions that we believe to be reasonable as of this date. We are not obliged to update these statements due to latest information or future events.

QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.

CODE: QUIK-E 

 –Tables Follow –

 

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(Unaudited) 

Three Months Ended

Year Ended

December 29, 2024

December 31, 2023

September 29, 2024

December 29, 2024

December 31, 2023

Revenue

$

5,705

$

7,479

$

4,273

$

20,112

$

21,198

Cost of revenue

2,292

1,713

1,888

$

8,226

6,711

Gross profit

3,413

5,766

2,385

$

11,886

14,487

Operating expenses:

Research and development

1,604

1,381

1,954

$

6,544

6,448

Selling, general and administrative

2,035

2,269

2,292

$

8,773

7,969

Total operating expense

3,639

3,650

4,246

$

15,317

14,417

Operating income (loss)

(226)

2,116

(1,861)

$

(3,431)

70

Interest expense

(111)

(59)

(186)

$

(406)

(215)

Interest and other (expense) income, net

21

(17)

(34)

$

(1)

(116)

Income (loss) before income taxes

(316)

2,040

(2,081)

$

(3,838)

(261)

(Benefit from) provision for income taxes

(11)

(2)

13

$

3

2

Net income (loss)

$

(305)

$

2,042

$

(2,094)

$

(3,841)

$

(263)

Net income (loss) per share:

Basic

$

(0.02)

$

0.15

$

(0.14)

$

(0.26)

$

(0.02)

Diluted

$

(0.02)

$

0.14

$

(0.14)

$

(0.26)

$

(0.02)

Weighted average shares outstanding:

Basic

14,869

13,989

14,555

14,510

13,453

Diluted

14,869

14,349

14,555

14,510

13,453

Note: Net income (loss) equals to comprehensive income (loss) for all periods presented.

 

QUICKLOGIC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(Unaudited)

December 29, 2024

December 31, 2023

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$

21,880

$

24,606

Accounts receivable, net of allowance for doubtful accounts of $30 and $34, as of December 29, 2024 and December 31, 2023, respectively

2,436

1,625

Contract assets

2,682

3,609

Note receivable, current

—

1,200

Inventories

940

2,029

Prepaid expenses and other current assets

1,666

1,561

Total current assets

29,604

34,630

Property and equipment, net

16,077

8,948

Capitalized internal-use software, net

2,451

2,069

Right of use assets, net

758

981

Intangible assets, net

430

537

Non-marketable equity investment

300

300

Goodwill

185

185

Inventories, non-current

718

—

Note receivable, non-current

1,292

—

Other assets

118

142

TOTAL ASSETS

$

51,933

$

47,792

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Revolving line of credit

$

18,000

$

20,000

Trade payables

3,120

4,657

Accrued liabilities

1,611

2,673

Deferred revenue

454

1,052

Notes payable, current

1,928

946

Lease liabilities, current

284

302

Total current liabilities

25,397

29,630

Long-term liabilities:

Lease liabilities, non-current

447

681

Notes payable, non-current

1,202

461

Other long-term liabilities

—

125

Total liabilities

27,046

30,897

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued and outstanding

—

—

Common stock, $0.001 par value; 200,000 authorized; 15,336 and 14,118 shares issued and outstanding as of December 29, 2024 and December 31, 2023, respectively

15

14

Additional paid-in capital

334,268

322,436

Accumulated deficit

(309,396)

(305,555)

Total stockholders’ equity

24,887

16,895

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

51,933

$

47,792

 

QUICKLOGIC CORPORATION

SUPPLEMENTAL RECONCILIATIONS OF US GAAP AND NON-GAAP FINANCIAL MEASURES

(in thousands, except per share amounts and percentages)

(Unaudited)

Three Months Ended

Year Ended

December 29, 2024

December 31, 2023

September 29, 2024

December 29, 2024

December 31, 2023

US GAAP income (loss) from operations

$

(226)

$

2,116

$

(1,861)

$

(3,431)

$

70

Adjustment for stock-based compensation within:

Cost of revenue

122

89

180

627

328

Research and development

171

82

323

1,048

595

Selling, general and administrative

575

434

645

2,706

1,599

Non-GAAP income (loss) from operations

$

642

$

2,721

$

(713)

$

950

$

2,592

US GAAP net income (loss)

$

(305)

$

2,042

$

(2,094)

$

(3,841)

$

(263)

Adjustment for stock-based compensation within:

Cost of revenue

122

89

180

627

328

Research and development

171

82

323

1,048

595

Selling, general and administrative

575

434

645

2,706

1,599

Non-GAAP net income (loss)

$

563

$

2,647

$

(946)

$

540

$

2,259

US GAAP net income (loss) per share, basic

$

(0.02)

$

0.15

$

(0.14)

$

(0.26)

$

(0.02)

Adjustment for stock-based compensation

0.06

0.04

0.08

0.30

0.19

Non-GAAP net income (loss) per share, basic

$

0.04

$

0.19

$

(0.06)

$

0.04

$

0.17

US GAAP net income (loss) per share, diluted

$

(0.02)

$

0.14

$

(0.14)

$

(0.26)

$

(0.02)

Adjustment for stock-based compensation

0.06

0.04

0.08

0.30

0.19

Non-GAAP net income (loss) per share, diluted

$

0.04

$

0.18

$

(0.06)

$

0.04

$

0.17

US GAAP gross margin percentage

59.8

%

77.1

%

55.8

%

59.1

%

68.3

%

Adjustment for stock-based compensation included in cost of revenue

2.2

%

1.2

%

4.2

%

3.1

%

1.6

%

Non-GAAP gross margin percentage

62.0

%

78.3

%

60.0

%

62.2

%

69.9

%

 

QUICKLOGIC CORPORATION

SUPPLEMENTAL DATA

(Unaudited)

Percentage of Revenue

Change in Revenue

Q4 2024

Q4 2023

Q3 2024

Q4 2024 to Q4 2023

Q4 2024 to Q3 2024

COMPOSITION OF REVENUE

Revenue by product: (1)

New products

82

%

91

%

83

%

(32)

%

32

%

Mature products

18

%

9

%

17

%

61

%

42

%

Revenue by geography:

Asia Pacific

9

%

6

%

12

%

28

%

5

%

North America

86

%

92

%

86

%

(29)

%

33

%

Europe

5

%

2

%

2

%

90

%

208

%

_____________________

(1)

New products include all products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP intellectual property, professional services, and QuickAI and SensiML AI software as a service (SaaS) revenue. Mature products include all products produced on semiconductor processes larger than 180 nanometer and includes related royalty revenue.

 

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SOURCE QuickLogic Corporation

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Technology

AGON Unveils OC1050Hz Gaming Monitor Delivering Millisecond Fluidity

Published

53 minutes ago

on

October 7, 2026

By

AGP257FT combines an overclocked to 1050Hz refresh rate, 0.1ms MPRT response time, Oxide panel, NVIDIA G-SYNC Compatible performance and advanced eye-comfort technologies for next-generation competitive gaming.

LOS ANGELES, Oct. 6, 2026 /PRNewswire/ — AGON, the world’s No.1 gaming monitor brand for seven consecutive years according to 2025 IDC reports, today announces the upcoming AGP257FT. Designed for professional competitors and performance-driven gamers, this groundbreaking esports monitor takes responsiveness and motion clarity to a new level.

The AGP257FT incorporates proprietary ultra-high-refresh-rate gaming LCD technology. Its native Oxide panel combines fast-response liquid-crystal materials with integrated GIA circuit design to support a OC1050Hz refresh rate at 1920 × 1080 resolution.

This advanced panel architecture enables faster pixel driving and overcomes the slower voltage-response limitations of conventional LCD panels. The result is smoother motion, lower frame delay and more immediate visual feedback. Combined with an ultra-fast 0.1ms MPRT, rapid movements, flick shots and fast-changing scenes appear sharper and clearer during high-speed action.

Extreme Motion Clarity and Advanced Eye Comfort for Extended Play

Motion Blur Reduction Plus (MBR+) minimizes perceived blur during rapid movement for sharper object definition. NVIDIA G-SYNC Compatible technology synchronizes the display’s refresh rate with compatible GPU output to reduce screen tearing and stuttering while maintaining responsive gameplay. VESA DisplayHDR™ 400 support brings greater brightness and visual impact in compatible games without compromising competitive performance.

The AGP257FT’s hardware-based Low Blue Light solution reduces harmful shortwave blue light at the backlight source while preserving natural colors without the yellow tint caused by software filters. Its TÜV Rheinland-certified Circular Polarization technology, verified at over 50% circularity, produces light that more closely resembles natural sunlight, helping reduce glare, visual harshness and eye fatigue without compromising display performance.

A New Benchmark for Esports Displays

Combining OC1050Hz performance, 0.1ms MPRT, a Fast IPS Technology, MBR+, NVIDIA G-SYNC Compatible support and advanced Circular Polarization technologies, the AGP257FT establishes a new benchmark for extreme-speed gaming with enhanced visual comfort.

About AOC

Founded in 1967, AOC is a globally leading monitor and IT accessories brand and a subsidiary of TPV Technology Limited, one of the world’s largest display manufacturers. AOC delivers innovative, ergonomic and environmentally conscious solutions for professional and personal applications.

AGON, AOC’s gaming sub-brand, offers high-performance gaming monitors and accessories for core gamers, competitive players and esports professionals.

Brief Spec:

Model Name

AGP257FT

Panel Size

24.5

Panel type

IPS (ADS Pro)

Panel Aspect ratio

16:9

Contrast ratio (typical / minimum)

1000:1 (Typical)

Panel Surface Treatment

AG

Panel Haze Value

25 %

Anti blue light (Hardware)

Yes

Flicker free

YES, Flicker Free =
SDR (MBR+=0 , MBR Sync = Off  and  OD at Strong /medium /low / Off)
HDR (MBR+=0 , MBR Sync = Off, OD at Strong /medium /low / Off and local dimming = Off)

HDR spec

HDR 400

Panel local dimming

20 zone

Panel bezel

3FL

Panel backlight type / Cell array

W-LED

Panel Curvature

Flat

Panel Resolution

1920×1080

Panel Refresh rate

1000Hz

Default resolution by input

DP2.1 : 1920×1080@60Hz
HDMI2.1  : 1920×1080@60Hz

Max resolution by input

DP2.1 : 1920×1080@1000Hz(444 10bit); Overclock 1050Hz
HDMI2.1 : 1920×1080@1000Hz(444 10bit) DSC; Overclock 1050Hz

Max resolution for USB C/TBT
(with USB information)

NA

Viewing angle

178/178

Brightness (typical)

SDR : 450 cd/m2
HDR ON: 450 cd/m2

Display colors

16.7M 8bits RGB

Color Gamut

sRGB : sRGB 99%@CIE 1931(Typ.)
DCI-P3 90%

OD Response (typical)

1 ms GtG (average) ; 0.3ms GtG (min.)

Panel Response time (typical)

3ms GtG

MPRT

0.1ms

Adaptive-sync/ Free-sync / G-sync

G-sync Compatible (under testing)

I/O define: Connectors on rear cabinet

Rear insert

VGA

0x

DVI

0x

HDMI

2x HDMI2.1

HDMI HDCP version

HDCP 2.3

Displayport

1x DP 2.1

DP HDCP version

HDCP 2.3

Displayport output

0x

USB Type C

NA

Thunderbolt in

0x

Thunderbolt out

0x

Displaylink in

No

MST / Daisy chain (DP out or TBT out)

No

PD for USB C/TBT

No

PxP (PIP, PBP)

2P all source

USB Hub up stream

1 x USB3.2 type B Gen 1, 5 Gbit/s

USB Hub down stream 2_0/3_0

3 x USB3.2 type A Gen 1, 5 Gbit/s (BC1.2×1 yellow)

mini USB (for external keypad)

1x

FW Upgrade

OTA/OTG

KVM

No

RJ45

No

RS232

No

Audio in

0x

Audio out (earphone)

1x Audio out

Microphone in

0x

Microphone out

0x

Built-in speakers

No

Sound enhancement

No

Stand

HAS 150 ± 5mm

Quick release function

Yes

Pivot

90° ±2° ~ 90° ±2°

Swivel

28° ±2° ~28° ±2°

Tilt

-5°~23°

Auto Pivot (G sensor)

NO

CEC

Yes

Smart Power

No

Power

Internal

Power Switch

No

Power LED indicator (Operation)

White

Power LED indicator (Standby)

Orange

Webcam

No

Earphone hook

Yes

Recycled plastic

NO

Cushion material

Paper: Pulp Mold

Carton material

Color Print

Carton type

Pizza Box

Accessory box

YES

Ambient light / Light FX

Light FX

Color and brightness uniformity report in box

Yes

Mouse keypad / Game Pad

QuickSwitch

Remote control

No

Others

CPL Circular Polarization

 

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SOURCE AGON by AOC

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Technology

Project Eleven Launches Strongpoint for Post-Quantum Custody with Zcash Foundation as Initial Development Partner

Published

53 minutes ago

on

October 7, 2026

By

Zcash Foundation joins Project Eleven to shape institutional custody infrastructure for the post-quantum and AI era as more than $1 trillion in digital assets remain at risk of attack by sufficiently powerful quantum computers.

NEW YORK, Oct. 6, 2026 /PRNewswire/ — Project Eleven, the post-quantum security company for digital assets, today introduced Strongpoint, its flagship custody platform built for navigating the transition to post-quantum cryptography. Zcash Foundation joins Project Eleven as an initial development partner, helping shape Strongpoint’s institutional custody architecture.

Strongpoint is designed to give institutions a consistent control layer for securing and managing digital assets as networks change the cryptographic standards underneath them. Rather than rebuilding key-management, transaction approval, and audit infrastructure for each new signature scheme or network migration, institutions can maintain a common set of security controls while the underlying cryptography evolves.

“Institutional digital asset custody was built for a world where the cryptography underneath it rarely changed,” said Alex Pruden, CEO of Project Eleven. “Quantum computing is upending that model. If every network adopts a different solution, institutions could be forced to rebuild their security infrastructure again and again. Strongpoint is built around crypto-agility, so the cryptography can change without the infrastructure changing with it.”

“Institutions holding shielded ZEC need custody infrastructure that respects Zcash’s privacy model today and can adapt as cryptographic standards change,” said Alex Bornstein, Executive Director of Zcash Foundation. “Project Eleven is building Strongpoint with the crypto-agility and technical foundation needed to support those requirements over time, helping strengthen custody infrastructure for the broader ecosystem.”

Zcash Foundation Joins as an Initial Development Partner
Zcash Foundation joins as an initial development partner for Strongpoint, bringing its expertise in privacy-preserving cryptography and protocol engineering to Strongpoint’s institutional custody architecture. Zcash’s privacy-preserving design introduces sophisticated key-management and transaction requirements, making it a valuable environment for developing custody infrastructure capable of supporting evolving cryptographic standards.

The collaboration will help inform how Strongpoint handles network-specific requirements while maintaining a consistent institutional control framework across assets and cryptographic schemes.

Post-Quantum Migrations Are Taking Different Paths
The digital asset industry’s post-quantum transition is becoming a coordination challenge. Among the networks represented by the 20 largest assets in CoinGecko’s Layer 1 (L1) category by market capitalization, Project Eleven found that only 10 have published a network-specific technical proposal, roadmap or implementation path for migrating transaction or account authentication to post-quantum cryptography.

Those approaches span at least six proposed post-quantum signature schemes and vary significantly in how they address account migration, key rotation and legacy-asset recovery. Even where technical roadmaps exist, operational readiness remains uneven, leaving institutions to navigate different standards and requirements across networks.

For institutions operating across multiple networks, that fragmentation means accommodating different cryptographic standards and migration requirements without losing a consistent security model. Strongpoint is designed to provide that common operating layer while allowing the cryptography beneath it to change independently.

Early Access and Deployment
Project Eleven targets production deployment in Q4 2026 and is working with a limited group of development partners ahead of general availability. Additional development partners and supported networks will be announced. Institutions interested in early access can request more information at projecteleven.com/strongpoint.

Founded in 2024 by Alex Pruden and Conor Deegan, Project Eleven raised a $20 million Series A led by Castle Island Ventures in January 2026, bringing its total funding to $26 million. The company recently acquired Riva Labs, a specialized engineering firm with deep expertise in post-quantum signatures, wallet infrastructure and blockchain cryptography, expanding Project Eleven’s in-house research and protocol-engineering capabilities.

Methodology: Project Eleven reviewed the 20 largest assets in CoinGecko’s Layer 1 (L1) category by market capitalization on September 25, 2026. A network was counted only where an official network organization, foundation, core development team or recognized protocol-improvement process had published a network-specific technical proposal, roadmap or implementation path for migrating transaction or account authentication to post-quantum cryptography. General research programs, statements of intent and post-quantum work that did not specify such a migration path were not counted. Draft technical proposals were included and do not imply network approval or adoption.

Alex Pruden and Conor Deegan are available for interview.

About Project Eleven
Project Eleven builds resilient infrastructure and tooling for the post-quantum era. The company develops scalable solutions that strengthen security across a rapidly evolving quantum threat landscape. With deep expertise in cryptography, blockchain, and financial systems, Project Eleven bridges advanced post-quantum research with real-world implementations that prepare the digital asset ecosystem for the future. For more information, visit www.projecteleven.com.

About Zcash Foundation
Zcash Foundation, a 501(c)(3) public charity, builds financial privacy infrastructure for the public good, primarily serving users of the Zcash protocol and blockchain. With expertise in cryptography, protocol engineering, and open-source development, Zcash Foundation works to sustain and improve open financial networks that allow anyone to protect their own privacy, on their own terms. For more information, visit zfnd.org.

Media Contacts
Aubrey Strobel / Elena Nisonoff, Halcyon Communications
projecteleven@halcyonpr.xyz 

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SOURCE Project Eleven

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One Good Card reports higher Q4 demand for live NFC card printing at events

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53 minutes ago

on

October 7, 2026

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SINGAPORE, Oct. 7, 2026 /PRNewswire/ — Between now and December, Singapore’s calendar fills up fast. Dinner and dance season, year-end galas, product launches, and a final run of conferences and trade shows all take place before the year closes, and many of them give out door gifts to attendees.

One Good Card, a Singapore-based digital name card platform, says demand for its NFC Card Live Printing for Events service typically doubles in Q4, as companies look for a door gift that guests keep using after the event ends.

“Businesses spend a significant budget on events, and it should go towards making the experience memorable for attendees,” said Choong Chao Dong, Founder of One Good Card. “Personalised NFC cards give guests something they can use to network during the event and keep using long after it.”

Printed and activated in seconds

At a live printing kiosk, guests enter their name and receive a personalised NFC name card, printed and activated on the spot in about 10 seconds. Each card works immediately as a networking tool, letting guests share contact details, portfolios, and social profiles. Guests share their digital name card by tapping the card on a phone or scanning its QR code. They can update their contact details at any time, and each tap of the card shares the latest version.

Organisers can customise each station with event-specific card designs and colour schemes to match the occasion. Card designs can include the event name, date and organiser’s logo alongside the guest’s preferred name. One Good Card now also offers wood and metal NFC cards, which can be laser engraved live at the event.

Event formats

The service has been used at school graduations, corporate dinner and dance events, product launches, conferences, trade shows, and gala dinners. Each station is staffed and set up on-site by the One Good Card team, so organisers only need to decide where to place it. A single station prints around 200 cards per hour, and larger events can book multiple stations. Common placements include registration counters and foyers, depending on the event format and venue layout. At conferences and trade shows, exhibitors place the station at their booth to give attendees a reason to stop and speak with their team.

About One Good Card

One Good Card is a Singapore-based digital business card and sales platform that helps teams share their details, capture leads, and manage what happens next. Beyond NFC business cards, QR codes, and custom profile links, the platform includes an OCR business card scanner, contact management, deal pipeline tracking, invoicing, and integrations with industry sales tools. Companies across the region use One Good Card to keep branding consistent, assign NFC cards centrally, and track leads from in-person networking through to closed deals. Learn more at onegoodcard.com.

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SOURCE One Good Card

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