Pixelworks Reports Second Quarter 2025 Financial Results
Pixelworks (NASDAQ: PXLW) reported Q2 2025 financial results with revenue of $8.3 million, up 16% sequentially but slightly down from $8.5 million in Q2 2024. The company recorded a GAAP net loss of $6.7 million ($1.27 per share), showing improvement from the $7.8 million loss in Q1 2025.
Key highlights include a gross profit margin of 45.8% and reduced operating expenses at $11.1 million. The company's Shanghai subsidiary received $1.6 million in cash subsidies from China's "Little Giant" program. Notable developments include multiple TrueCut Motion movie releases with Universal Pictures and ongoing strategic evaluations for the Shanghai subsidiary.
The company recently implemented a one-for-twelve reverse stock split on June 6, 2025, affecting all common stock and related financial metrics.
Pixelworks (NASDAQ: PXLW) ha comunicato i risultati del secondo trimestre 2025 con ricavi per $8,3 milioni, in crescita del 16% rispetto al trimestre precedente ma leggermente inferiori ai $8,5 milioni del Q2 2024. La societ脿 ha riportato una perdita netta GAAP di $6,7 milioni (pari a $1,27 per azione), in miglioramento rispetto alla perdita di $7,8 milioni registrata nel Q1 2025.
I punti salienti includono un margine lordo del 45,8% e spese operative ridotte a $11,1 milioni. La controllata di Shanghai ha ricevuto $1,6 milioni in sovvenzioni in contanti dal programma cinese 'Little Giant'. Tra gli sviluppi rilevanti figurano il rilascio di pi霉 film con tecnologia TrueCut Motion in collaborazione con Universal Pictures e le continue valutazioni strategiche sulla filiale di Shanghai.
In data 6 giugno 2025 la societ脿 ha effettuato un raggruppamento azionario 1 per 12, che ha interessato tutte le azioni ordinarie e i parametri finanziari correlati.
Pixelworks (NASDAQ: PXLW) inform贸 sus resultados del segundo trimestre de 2025 con ingresos de $8,3 millones, un aumento del 16% respecto al trimestre anterior pero ligeramente por debajo de los $8,5 millones del Q2 2024. La compa帽铆a registr贸 una p茅rdida neta GAAP de $6,7 millones (equivalente a $1,27 por acci贸n), mejorando frente a la p茅rdida de $7,8 millones en el Q1 2025.
Entre los puntos destacados figuran un margen bruto del 45,8% y gastos operativos reducidos a $11,1 millones. La filial de Shangh谩i recibi贸 $1,6 millones en subvenciones en efectivo del programa chino 'Little Giant'. Otros hitos incluyen varios estrenos cinematogr谩ficos con TrueCut Motion junto a Universal Pictures y la continua evaluaci贸n estrat茅gica de la filial de Shangh谩i.
El 6 de junio de 2025 la compa帽铆a aplic贸 un agrupamiento inverso de acciones 1 por 12, que afecta a todas las acciones ordinarias y a las m茅tricas financieras relacionadas.
Pixelworks (NASDAQ: PXLW)電� 2025 須岅硠鞐半弰 2攵勱赴 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 毵れ稖鞚� $8.3氚彪鞙茧 鞝勲秳旮� 雽�牍� 16% 歃濌皜頄堨毵� Q2 2024鞚� $8.5氚彪氤措嫟電� 靻岉彮 臧愳唽頄堨姷雼堧嫟. 須岇偓電� GAAP 旮办 靾滌啇鞁� $6.7氚彪($1.27/欤�)鞚� 旮半頄堨溂氅�, 鞚措姅 2025雲� 1攵勱赴 靻愳嫟 $7.8氚彪氤措嫟 臧滌劆霅� 靾橃箻鞛呺媹雼�.
欤检殧 雮挫毄鞙茧電� 齑濎澊鞚惦 45.8%瓿� 鞓侅梾牍勳毄 於曥唽搿� $11.1氚彪鞚� 旮半頃� 鞝愳澊 鞛堨姷雼堧嫟. 靸來晿鞚� 鞛愴殞靷姅 欷戧淡鞚� 'Little Giant' 頂勲攴鸽灗鞙茧攵�韯� $1.6氚彪鞚� 順勱笀 氤挫“旮�鞚� 氚涭晿鞀惦媹雼�. 霕愴暅 Universal Pictures鞕� 頃粯 TrueCut Motion 旮办垹鞚� 鞝侅毄頃� 雼れ垬鞚� 鞓來檾 於滌嫓鞕� 靸來晿鞚� 鞛愴殞靷棎 雽�頃� 鞝勲灥鞝� 瓴�韱犼皜 歆勴枆 欷戩瀰雼堧嫟.
須岇偓電� 2025雲� 6鞗� 6鞚检棎 氇摖 氤错喌欤� 氚� 甏�霠� 鞛 歆�響滌棎 鞓來枼鞚� 氙胳箻電� 1雽�12 鞐＜鞁� 氤戫暕(Reverse Split)鞚� 鞁滍枆頄堨姷雼堧嫟.
Pixelworks (NASDAQ: PXLW) a publi茅 ses r茅sultats du deuxi猫me trimestre 2025 : un chiffre d'affaires de 8,3 millions $, en hausse de 16% par rapport au trimestre pr茅c茅dent mais l茅g猫rement inf茅rieur aux 8,5 millions $ du T2 2024. La soci茅t茅 a enregistr茅 une perte nette GAAP de 6,7 millions $ (soit 1,27 $ par action), en am茅lioration par rapport 脿 la perte de 7,8 millions $ au T1 2025.
Parmi les faits saillants figurent une marge brute de 45,8% et des charges d'exploitation r茅duites 脿 11,1 millions $. La filiale de Shanghai a re莽u 1,6 million $ de subventions en esp猫ces dans le cadre du programme chinois 'Little Giant'. On note 茅galement plusieurs sorties de films utilisant TrueCut Motion avec Universal Pictures et des 茅valuations strat茅giques en cours concernant la filiale de Shanghai.
Le 6 juin 2025, la soci茅t茅 a mis en 艙uvre un regroupement d'actions inverse au ratio de 1 pour 12, affectant toutes les actions ordinaires et les indicateurs financiers connexes.
Pixelworks (NASDAQ: PXLW) meldete die Ergebnisse f眉r das zweite Quartal 2025: einen Umsatz von $8,3 Millionen, was einem Anstieg von 16% zum Vorquartal entspricht, jedoch leicht unter den $8,5 Millionen im Q2 2024 liegt. Das Unternehmen wies einen GAAP-Nettverlust von $6,7 Millionen (entspricht $1,27 je Aktie) aus, eine Verbesserung gegen眉ber dem Verlust von $7,8 Millionen im Q1 2025.
Zu den wichtigsten Punkten z盲hlen eine Bruttomarge von 45,8% und verringerte Betriebskosten in H枚he von $11,1 Millionen. Die Shanghai-Tochter erhielt $1,6 Millionen an Barzusch眉ssen aus dem chinesischen Programm 'Little Giant'. Zu den weiteren Entwicklungen geh枚ren mehrere Filmver枚ffentlichungen mit TrueCut Motion in Zusammenarbeit mit Universal Pictures sowie laufende strategische Pr眉fungen der Shanghai-Tochter.
Am 6. Juni 2025 f眉hrte das Unternehmen eine Aktienzusammenlegung im Verh盲ltnis 1:12 durch, die alle Stammaktien und damit verbundene finanzielle Kennzahlen betrifft.
- Revenue increased 16% sequentially to $8.3 million
- Operating expenses reduced to $11.1 million from $15.1 million year-over-year
- Secured $1.6 million in cash subsidies from China's Little Giant program
- Multiple successful TrueCut Motion movie releases with Universal Pictures
- Sequential and year-over-year improvement in operating results
- Net loss of $6.7 million in Q2 2025
- Gross profit margin declined to 45.8% from 50.7% year-over-year
- Revenue decreased year-over-year from $8.5 million to $8.3 million
- Implemented one-for-twelve reverse stock split, indicating potential share price concerns
Insights
Pixelworks shows sequential revenue growth but continues to operate at a loss despite cost-cutting measures and strategic initiatives.
Pixelworks delivered $8.3 million in Q2 2025 revenue, up
The company's gross margin performance was mixed. GAAP gross margin came in at
More concerning is the continued operating loss, though there are signs of improvement. The company posted a GAAP net loss of
Cost control measures appear to be gaining traction, with operating expenses decreasing to
The
Strategic developments are noteworthy, particularly the company's initiatives with its Shanghai subsidiary. Management indicated they've received multiple non-binding term sheets related to strategic interest in this subsidiary, suggesting potential partnership or investment opportunities. Additionally, their TrueCut Motion technology continues to gain adoption with major studios like Universal Pictures, potentially creating a valuable ecosystem in the premium theater market.
The company recently implemented a 1-for-12 reverse stock split, typically done to maintain listing compliance or improve stock marketability. This action, combined with the continued net losses, signals ongoing financial challenges despite the operational improvements.
While management is making progress on cost structure and building strategic partnerships, Pixelworks remains in a challenging position with continued losses. The sequential improvement in financial metrics is encouraging, but the company needs to demonstrate a clearer path to profitability through either significant revenue growth or further cost reductions.
Second Quarter and Recent Highlights
- Total revenue increased
16% sequentially, driven by seasonal growth in the home and enterprise market - DreamWorks Animation's The Bad Guys 2 released by Universal Pictures to worldwide premium large format theaters in TrueCut Motion
- Announced that Universal Pictures' Nobody 2 to be released globally in TrueCut Motion for select premium large format theaters on August 15th
- Jurassic World Rebirth from Universal Pictures showcased on CINITY premium screens in TrueCut Motion by China Film Group in theaters throughout
China - Pixelworks Shanghai subsidiary awarded multiple cash subsidies totaling approximately
$1.6 million China's "Little Giant" program - Pixelworks initiated evaluations of non-binding term sheets from multiple third-parties related to strategic interest in the Company's Pixelworks Shanghai subsidiary
"Second quarter financial results were within guidance and reflected our expectations for a return to sequential revenue growth," stated Todd DeBonis, President and CEO of Pixelworks. "Gross margin for the quarter was more favorable than anticipated, and we also continued to realize increased benefits from our previously taken actions to reduce operating expenses and streamline our overall cost structure. As a result, we delivered significant sequential and year-over-year improvement in our second quarter operating results.
"Our focus continues to be on advancing a series of compelling market, customer and potential strategic opportunities for Pixelworks'
Second Quarter 2025 Financial Results
Revenue in the second quarter of 2025 was
On a GAAP basis, gross profit margin in the second quarter of 2025 was
On a non-GAAP basis, second quarter 2025 gross profit margin was
For the second quarter of 2025, the Company recorded a GAAP net loss of
For the second quarter of 2025, the Company recorded a non-GAAP net loss of
On June 6, 2025, the Company effected a one-for-twelve reverse stock split of the Company's common stock (the "Reverse Stock Split"). All shares of the Company's common stock, per-share data and related information included in the accompanying condensed consolidated financial statements have been retroactively adjusted as though the Reverse Stock Split had been effected prior to all periods presented.
Adjusted EBITDA in the second quarter of 2025 was a negative
Business Outlook
The Company's current business outlook, including guidance for the third quarter of 2025, will be discussed as part of the scheduled conference call.
Conference Call Information
Pixelworks will host a conference call today, August 12, 2025, at 2:00 p.m. Pacific Time. Analysts and investors are invited to join the Company's conference call using the following information:
Second Quarter 2025 Conference Call
Date: Tuesday, August 12, 2025
Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time)
Live Webcast Link:
Dial-in Participation Registration Link:
Advanced registration is required for dial-in participants. Please complete the linked registration form above to receive a dial-in number and dedicated PIN for accessing the conference call by phone. A live and archived audio webcast of the conference call will also be accessible via the investors section of Pixelworks' website: .
Pixelworks, Inc.
Pixelworks provides industry-leading content creation, video delivery and display processing solutions and technology that enable highly authentic viewing experiences with superior visual quality, across all screens 鈥� from cinema to smartphone and beyond. The Company has a 20-year history of delivering image processing innovation to leading providers of consumer electronics, professional displays, and video streaming services. For more information, please visit the company's web site at .
Note: Pixelworks, TrueCut Motion and the Pixelworks logo are trademarks of Pixelworks, Inc.
Non-GAAP Financial Measures
This earnings release makes reference to non-GAAP gross profit margins, non-GAAP operating expenses, non-GAAP net loss and non-GAAP net loss per share, which exclude stock-based compensation expense and restructuring expense which are both required under GAAP as well as the tax effect of the non-GAAP adjustments. The press release also makes reference to and reconciles GAAP net loss and adjusted EBITDA, which Pixelworks defines as GAAP net loss attributable to Pixelworks before interest income and other, net, income tax provision, depreciation and amortization, as well as the specific items listed above.
Pixelworks management uses these non-GAAP financial measures internally to understand, manage and evaluate the business and establish its operational goals, review its operations on a period-to-period basis, for compensation evaluations, to measure performance, and for budgeting and resource allocation. Pixelworks management believes it is useful for management and investors to review, as applicable, both GAAP information and non-GAAP financial measures to help assess the performance of Pixelworks' continuing business and to evaluate Pixelworks' future prospects. These non-GAAP measures, when reviewed together with the GAAP financial information, provide additional transparency and information for comparison and analysis of operating performance and trends. These non-GAAP measures exclude certain items to facilitate management's review of the comparability of our core operating results on a period-to-period basis.
Because the Company's non-GAAP financial measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures and should be read only in conjunction with the Company's consolidated financial results as presented in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial measures is included in this earnings release which is available in the investor relations section of the Pixelworks website.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by use of terms such as "begin," "continue," "will," "expect", "believe," "anticipate" and similar terms or the negative of such terms, and include, without limitation, statements about potential strategic options with respect to Pixelworks Shanghai, adjacent revenue opportunities, and the adoption of our TrueCut Motion technology. All statements other than statements of historical fact are forward-looking statements for purposes of this release, including any projections of revenue or other financial items or any statements regarding the plans and objectives of management for future operations. Such statements are based on management's current expectations, estimates and projections about the Company's business. These statements are not guarantees of future performance and involve numerous risks, uncertainties and assumptions that are difficult to predict. Actual results could vary materially from those contained in forward looking statements due to many factors, including, without limitation: the actual adoption of TrueCut Motion platform; the actual performance of the smartphone market; our ability to execute on our strategy; competitive factors, such as rival chip architectures, introduction or traction by competing designs, or pricing pressures; the success of our products in new or expanding markets; current global economic challenges, including the trade dispute and negotiations between
The forward-looking statements contained in this release are as of the date of this release, and the Company does not undertake any obligation to update any such statements, whether as a result of new information, future events or otherwise.
[Financial Tables Follow]听
听
PIXELWORKS, INC. | |||||
Three Months Ended | Six Months Ended | ||||
June 30, | March 31, | June 30, | June 30, | June 30, | |
2025 | 2025 | 2024 | 2025 | 2024 | |
Revenue, net | $听听听听听听听听听听听听听听听听听 8,250 | $听听听听听听听听听听听听听听听听听 7,094 | $听听听听听听听听听听听听听听听听听 8,535 | $听听听听听听听听听听听听听听听 15,344 | $听听听听听听听听听听听听听听听 24,589 |
Cost of revenue (1) | 4,471 | 3,642 | 4,209 | 8,113 | 12,149 |
Gross profit | 3,779 | 3,452 | 4,326 | 7,231 | 12,440 |
Operating expenses: | |||||
Research and development (2) | 5,998 | 6,523 | 7,943 | 12,521 | 16,016 |
Selling, general and administrative (3) | 4,442 | 4,632 | 5,722 | 9,074 | 11,256 |
Restructuring | 640 | 393 | 1,403 | 1,033 | 1,403 |
Total operating expenses | 11,080 | 11,548 | 15,068 | 22,628 | 28,675 |
Loss from operations | (7,301) | (8,096) | (10,742) | (15,397) | (16,235) |
Government subsidies received | 801 | 13 | 鈥� | 814 | 鈥� |
Interest income and other, net | 66 | 97 | 327 | 163 | 761 |
Total other income, net | 867 | 110 | 327 | 977 | 761 |
Loss before income taxes | (6,434) | (7,986) | (10,415) | (14,420) | (15,474) |
Provision for income taxes | 491 | 34 | 32 | 525 | 137 |
Net loss | (6,925) | (8,020) | (10,447) | (14,945) | (15,611) |
Less: Net loss attributable to non-controlling interests and redeemable non-controlling interests | 218 | 259 | 298 | 477 | 396 |
Net loss attributable to Pixelworks Inc. | $听听听听听听听听听听听听听听听听 (6,707) | $听听听听听听听听听听听听听听听听 (7,761) | $听听听听听听听听听听听听听听 (10,149) | $听听听听听听听听听听听听听听 (14,468) | $听听听听听听听听听听听听听听 (15,215) |
Net loss attributable to Pixelworks Inc. per share - basic and diluted | $听听听听听听听听听听听听听听听听听听 (1.27) | $听听听听听听听听听听听听听听听听听听 (1.54) | $听听听听听听听听听听听听听听听听听听 (2.09) | $听听听听听听听听听听听听听听听听听听 (2.80) | $听听听听听听听听听听听听听听听听听听 (3.16) |
Weighted average shares outstanding - basic and diluted | 5,282 | 5,049 | 4,846 | 5,166 | 4,818 |
鈥斺赌斺赌斺赌斺赌斺赌� | |||||
(1) Includes: | |||||
Stock-based compensation | 10 | 10 | 10 | 20 | 28 |
Restructuring | 3 | 75 | 16 | 78 | 16 |
(2) Includes stock-based compensation | 241 | 222 | 316 | 463 | 646 |
(3) Includes stock-based compensation | 488 | 519 | 599 | 1,007 | 1,326 |
听
PIXELWORKS, INC. | |||||
Three Months Ended | Six Months Ended | ||||
June 30, | March 31, | June 30, | June 30, | June 30, | |
2025 | 2025 | 2024 | 2025 | 2024 | |
Reconciliation of GAAP and non-GAAP gross profit | |||||
GAAP gross profit | $听听听听听听听听听听听听听听听听听 3,779 | $听听听听听听听听听听听听听听听听听 3,452 | $听听听听听听听听听听听听听听听听听 4,326 | $听听听听听听听听听听听听听听听听听 7,231 | $听听听听听听听听听听听听听听听 12,440 |
Stock-based compensation | 10 | 10 | 10 | 20 | 28 |
Restructuring | 3 | 75 | 16 | 78 | 16 |
Total reconciling items included in gross profit | 13 | 85 | 26 | 98 | 44 |
Non-GAAP gross profit | $听听听听听听听听听听听听听听听听听 3,792 | $听听听听听听听听听听听听听听听听听 3,537 | $听听听听听听听听听听听听听听听听听 4,352 | $听听听听听听听听听听听听听听听听听 7,329 | $听听听听听听听听听听听听听听听 12,484 |
Non-GAAP gross profit margin | 46.0听% | 49.9听% | 51.0听% | 47.8听% | 50.8听% |
Reconciliation of GAAP and non-GAAP operating expenses | |||||
GAAP operating expenses | $听听听听听听听听听听听听听听听 11,080 | $听听听听听听听听听听听听听听听 11,548 | $听听听听听听听听听听听听听听听 15,068 | $听听听听听听听听听听听听听听听 22,628 | $听听听听听听听听听听听听听听听 28,675 |
Reconciling item included in research and development: | |||||
Stock-based compensation | 241 | 222 | 316 | 463 | 646 |
Reconciling items included in selling, general and administrative: | |||||
Stock-based compensation | 488 | 519 | 599 | 1,007 | 1,326 |
Restructuring | 640 | 393 | 1,403 | 1,033 | 1,403 |
Total reconciling items included in operating expenses | 1,369 | 1,134 | 2,318 | 2,503 | 3,375 |
Non-GAAP operating expenses | $听听听听听听听听听听听听听听听听听 9,711 | $听听听听听听听听听听听听听听听 10,414 | $听听听听听听听听听听听听听听听 12,750 | $听听听听听听听听听听听听听听听 20,125 | $听听听听听听听听听听听听听听听 25,300 |
Reconciliation of GAAP and non-GAAP net loss attributable to Pixelworks, Inc. | |||||
GAAP net loss attributable to Pixelworks Inc. | $听听听听听听听听听听听听听听听听 (6,707) | $听听听听听听听听听听听听听听听听 (7,761) | $听听听听听听听听听听听听听听 (10,149) | $听听听听听听听听听听听听听听 (14,468) | $听听听听听听听听听听听听听听 (15,215) |
Reconciling items included in gross profit | 13 | 85 | 26 | 98 | 44 |
Reconciling items included in operating expenses | 1,369 | 1,134 | 2,318 | 2,503 | 3,375 |
Tax effect of non-GAAP adjustments | 21 | 鈥� | 74 | 21 | 74 |
Non-GAAP net loss attributable to Pixelworks Inc. | $听听听听听听听听听听听听听听听听 (5,304) | $听听听听听听听听听听听听听听听听 (6,542) | $听听听听听听听听听听听听听听听听 (7,731) | $听听听听听听听听听听听听听听 (11,846) | $听听听听听听听听听听听听听听 (11,722) |
Non-GAAP net loss attributable to Pixelworks Inc. per share - basic and diluted | $听听听听听听听听听听听听听听听听听听 (1.00) | $听听听听听听听听听听听听听听听听听听 (1.30) | $听听听听听听听听听听听听听听听听听听 (1.60) | $听听听听听听听听听听听听听听听听听听 (2.29) | $听听听听听听听听听听听听听听听听听听 (2.43) |
Non-GAAP weighted average shares outstanding - basic and diluted | 5,282 | 5,049 | 4,846 | 5,166 | 4,818 |
*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to ""Non-GAAP Financial Measures" in this document for an explanation of the adjustments made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. |
听
PIXELWORKS, INC. | |||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | |||||||||||||||||
2025 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||||
Dollars per share | Dollars per share | Dollars per share | Dollars per share | Dollars per share | |||||||||||||||||
Basic | Diluted | Basic | Diluted | Basic | Diluted | Basic | Diluted | Basic | Diluted | ||||||||||||
Reconciliation of GAAP and non-GAAP net loss attributable to Pixelworks, Inc. | |||||||||||||||||||||
GAAP net loss attributable to Pixelworks Inc. | $听 (1.27) | $听 (1.27) | $听 (1.54) | $听 (1.54) | $听 (2.09) | $听 (2.09) | $听 (2.80) | $听 (2.80) | $听 (3.16) | $听 (3.16) | |||||||||||
Reconciling items included in gross profit | 0.00 | 0.00 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | |||||||||||
Reconciling items included in operating expenses | 0.26 | 0.26 | 0.22 | 0.22 | 0.48 | 0.48 | 0.48 | 0.48 | 0.70 | 0.70 | |||||||||||
Tax effect of non-GAAP adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.00 | 0.00 | 0.02 | 0.02 | |||||||||||
Non-GAAP net loss attributable to Pixelworks Inc. | $听 (1.00) | $听 (1.00) | $听 (1.30) | $听 (1.30) | $听 (1.60) | $听 (1.60) | $听 (2.29) | $听 (2.29) | $听 (2.43) | $听 (2.43) | |||||||||||
*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to ""Non-GAAP Financial Measures" in this document for an explanation of the adjustments made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. |
听
PIXELWORKS, INC. | ||||||||||
Three Months Ended | Six Months Ended | |||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | ||||||
2025 | 2025 | 2024 | 2025 | 2024 | ||||||
Reconciliation of GAAP and non-GAAP gross profit margin | ||||||||||
GAAP gross profit margin | 45.8听% | 48.7听% | 50.7听% | 47.1听% | 50.6听% | |||||
Stock-based compensation | 0.1听% | 0.1听% | 0.1听% | 0.1听% | 0.1听% | |||||
Restructuring | 0.0听% | 1.1听% | 0.2听% | 0.5听% | 0.1听% | |||||
Total reconciling items included in gross profit | 0.2听% | 1.2听% | 0.3听% | 0.6听% | 0.2听% | |||||
Non-GAAP gross profit margin | 46.0听% | 49.9听% | 51.0听% | 47.8听% | 50.8听% | |||||
*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to ""Non-GAAP Financial Measures" in this document for an explanation of the adjustments made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. |
听
PIXELWORKS, INC. | |||||
Three Months Ended | Six Months Ended | ||||
June 30, | March 31, | June 30, | June 30, | June 30, | |
2025 | 2025 | 2024 | 2025 | 2024 | |
Reconciliation of GAAP net loss attributable to Pixelworks Inc. and adjusted EBITDA | |||||
GAAP net loss attributable to Pixelworks Inc. | $听听听听听听听听听听听听听 (6,707) | $听听听听听听听听听听听听听 (7,761) | $听听听听听听听听听听听 (10,149) | $听听听听听听听听听听听 (14,468) | $听听听听听听听听听听听听听 (15,215) |
Stock-based compensation | 739 | 751 | 925 | 1,490 | 2,000 |
Restructuring | 643 | 468 | 1,419 | 1,111 | 1,419 |
Tax effect of non-GAAP adjustments | 21 | 鈥� | 74 | 21 | 74 |
Non-GAAP net loss attributable to Pixelworks Inc. | $听听听听听听听听听听听听听 (5,304) | $听听听听听听听听听听听听听 (6,542) | $听听听听听听听听听听听听听 (7,731) | $听听听听听听听听听听听 (11,846) | $听听听听听听听听听听听听听 (11,722) |
EBITDA adjustments: | |||||
Depreciation and amortization | $听听听听听听听听听听听听听听听听听 573 | $听听听听听听听听听听听听听听听听听 828 | $听听听听听听听听听听听听听听 1,059 | $听听听听听听听听听听听听听听 1,401 | $听听听听听听听听听听听听听听听听听 2,168 |
Interest income, net | (66) | (97) | (327) | (163) | (761) |
Non-GAAP provision (benefit) for income taxes | 470 | 34 | (42) | 504 | 63 |
Adjusted EBITDA | $听听听听听听听听听听听听听 (4,327) | $听听听听听听听听听听听听听 (5,777) | $听听听听听听听听听听听听听 (7,041) | $听听听听听听听听听听听 (10,104) | $听听听听听听听听听听听听听 (10,252) |
*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure disclosed by the company has limitations and should not be considered a substitute for, or superior to, the financial measure prepared in accordance with GAAP, and the reconciliations from GAAP to Non-GAAP actuals should be carefully evaluated. Please refer to ""Non-GAAP Financial Measures" in this document for an explanation of the adjustments made to the comparable GAAP measures, the ways management uses the non-GAAP measures, and the reasons why management believes the non-GAAP measures provide useful information for investors. |
听
PIXELWORKS, INC. | ||
June 30, | December 31, | |
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | $听听听听听听听听听听听听听听听听听听听听 14,255 | $听听听听听听听听听听听听听听听听听听听听 23,647 |
Accounts receivable, net | 5,063 | 5,804 |
Inventories | 4,082 | 4,210 |
Prepaid expenses and other current assets | 2,175 | 1,191 |
Total current assets | 25,575 | 34,852 |
Property and equipment, net | 4,745 | 6,500 |
Operating lease right of use assets | 2,400 | 3,368 |
Other assets, net | 677 | 945 |
Goodwill | 18,407 | 18,407 |
Total assets | $听听听听听听听听听听听听听听听听听听听听 51,804 | $听听听听听听听听听听听听听听听听听听听听 64,072 |
LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND SHAREHOLDERS' EQUITY | ||
Current liabilities: | ||
Accounts payable | $听听听听听听听听听听听听听听听听听听听听听听 1,933 | $听听听听听听听听听听听听听听听听听听听听听听 1,400 |
Accrued liabilities and current portion of long-term liabilities | 6,640 | 6,581 |
Current portion of income taxes payable | 568 | 365 |
Total current liabilities | 9,141 | 8,346 |
Long-term liabilities, net of current portion | 218 | 375 |
Deposit liability | 12,347 | 13,109 |
Operating lease liabilities, net of current portion | 910 | 1,450 |
Income taxes payable, net of current portion | 837 | 914 |
Total liabilities | 23,453 | 24,194 |
Redeemable non-controlling interest | 27,919 | 27,396 |
Total Pixelworks, Inc. shareholders' equity (deficit) | (22,436) | (10,568) |
Non-controlling interest | 22,868 | 23,050 |
Total shareholders' equity | 432 | 12,482 |
Total liabilities, redeemable non-controlling interest and shareholders' equity | $听听听听听听听听听听听听听听听听听听听听 51,804 | $听听听听听听听听听听听听听听听听听听听听 64,072 |
听
听
听
View original content to download multimedia:
SOURCE Pixelworks, Inc.
FAQ
What were Pixelworks (PXLW) key financial results for Q2 2025?
How did Pixelworks Q2 2025 revenue compare to previous periods?
What strategic developments did PXLW announce in Q2 2025?
What was the impact of Pixelworks' reverse stock split in 2025?
How did Pixelworks' operating expenses change in Q2 2025?
