Pixelworks Inc
NASDAQ:PXLW
NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

  • LAST PRICE
    0.7644
  • TODAY'S CHANGE (%)
    -0.0187 (-2.3879%)
  • Bid / Lots
    0.7596/ 6
  • Ask / Lots
    0.7702/ 9
  • Open / Previous Close
    0.7700 / 0.7831
  • Day Range
    0.7501
    0.7796
  • 52 Week Range
    0.6100
    3.0799
  • Volume
    465,416

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  • Nov 13, 2024

  • Nov 12, 2024

      Show headlines and story abstract

    • 4:21PM ET on Tuesday Nov 12, 2024 by MT Newswires
      Companies Mentioned: PXLW
      04:21 PM EST, 11/12/2024 (MT Newswires) -- ...

    • 4:21PM ET on Tuesday Nov 12, 2024 by MT Newswires
      Companies Mentioned: PXLW
      04:21 PM EST, 11/12/2024 (MT Newswires) -- ...

    • 4:05PM ET on Tuesday Nov 12, 2024 by PR Newswire
      Companies Mentioned: PXLW

      Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, today announced financial results for the third quarter ended September 30, 2024.

      Third Quarter and Recent Highlights

    • 4:05PM ET on Tuesday Nov 12, 2024 by Dow Jones
      Companies Mentioned: PXLW
      (Unaudited) Three Months Ended Nine Months Ended -------------------------------------------------------------- ---------------------------------------- September 30, June 30, September 30, September 30, September 30, 2024 2024 2023 2024 2023 -------------------- ------------------- ------------------- ------------------- ------------------- Reconciliation of GAAP net loss attributable to Pixelworks Inc. and adjusted EBITDA GAAP net loss attributable to Pixelworks Inc. $ (8,141) $ (10,149) $ (6,999) $ (23,356) $ (22,432) Stock-based compensation 1,042 925 1,252 3,042 3,677 Restructuring 90 1,419 -- 1,509 -- Tax effect of non-GAAP adjustments (74) 74 -- -- -- -------------------- ------------------- ------------------- ------------------- ------------------- Non-GAAP net loss attributable to Pixelworks Inc. $ (7,083) $ (7,731) $ (5,747) $ (18,805) $ (18,755) EBITDA adjustments: Depreciation and amortization $ 920 $ 1,059 $ 1,053 $ 3,088 $ 3,211 Non-GAAP interest income and other, net (296) (327) (471) (1,057) (1,615) Non-GAAP provision (benefit) for income taxes 199 (42) 158 262 318 -------------------- ------------------- ------------------- ------------------- ------------------- Adjusted EBITDA $ (6,260) $ (7,041) $ (5,007) $ (16,512) $ (16,841) ==================== =================== =================== =================== =================== *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. PIXELWORKS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) September 30, December 31, 2024 2023 --------------------------- -------------------------- ASSETS Current assets: Cash and cash equivalents $ 28,830 $ 47,544 Accounts receivable, net 4,497 10,075 Inventories 4,398 3,968 Prepaid expenses and other current assets 2,009 3,138 --------------------------- -------------------------- Total current assets 39,734 64,725 Property and equipment, net 7,600 5,997 Operating lease right of use assets 3,953 4,725 Other assets, net 1,436 2,115 Goodwill 18,407 18,407 --------------------------- -------------------------- Total assets $ 71,130 $ 95,969 =========================== ========================== LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,944 $ 2,416 Accrued liabilities and current portion of long-term liabilities 7,753 9,692 Current portion of income taxes payable 199 189 --------------------------- -------------------------- Total current liabilities 9,896 12,297 Long-term liabilities, net of current portion 533 1,373 Deposit liability 13,422 13,781 Operating lease liabilities, net of current portion 2,065 2,567 Income taxes payable, net of current portion 1,052 939 --------------------------- -------------------------- Total liabilities 26,968 30,957 Redeemable non-controlling interest 28,513 28,214 Total Pixelworks, Inc. shareholders' equity (deficit) (8,029) 12,541 Non-controlling interest 23,678 24,257 --------------------------- -------------------------- Total shareholders' equity 15,649 36,798 --------------------------- -------------------------- Total liabilities, redeemable non-controlling interest and shareholders' equity $ 71,130 $ 95,969 =========================== ==========================

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