The stock gained 5.5% following the quarter, reflecting investor optimism around progress in RadPro FPGA development, Intel 18A contracts, and expanding opportunities despite some contract timing delays.

• RadPro FPGA demonstration on GlobalFoundries 12LP process was successful, with multiple development kits shipped, contributing low six-figure revenue in Q2.
• Signed a memorandum of understanding with a defense industrial base (DIB) partner to accelerate evaluation of RadPro chiplet applications.
• Announced four contracts related to Intel 18A technology, totaling nearly $2 million, laying groundwork for larger future awards.
• Timing of a significant commercial Intel 18A contract has shifted from late Q2 to Q3 due to customer-driven scope expansion.
• Delivered architectural enhancements from a 1 million LUT feasibility study, expanding addressable markets for high-density eFPGA cores and discrete FPGAs.