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Pixelworks Inc. (NASDAQ: PXLW) is a pioneering fabless semiconductor company renowned for its innovative video and pixel processing chips and software, specifically tailored for high-end display applications such as digital projection and large screen LCD flat panels. Leveraging proprietary core technologies, Pixelworks empowers digital display and projection device manufacturers to distinguish their products with consistent, superior video quality, irrespective of the content’s source or format.
Pixelworks provides advanced visual processing semiconductor and software solutions that enable authentic and high-quality viewing experiences across various applications. The company's primary markets include:
- Mobile: Smartphones and tablets
- Home and Enterprise: Projectors, personal video recorders (PVR), and over-the-air (OTA) streaming devices
- Cinema: Creation, remastering, and delivery of digital video content
Operating in the segment of designing, developing, marketing, and selling integrated circuit (IC) solutions for electronic display devices, Pixelworks generates revenue mainly from the Mobile market and the Home and Enterprise market, with a significant portion of its earnings coming from China.
Recent achievements highlight Pixelworks' continuous innovation and market influence:
In January 2024, Pixelworks announced its collaboration with Walt Disney Studios to bring TrueCut Motion™ graded titles to select home entertainment devices, ensuring an unparalleled cinematic motion experience. This partnership enables filmmakers to maintain creative integrity by eliminating motion playback anomalies while preserving the intended look and feel of the source content.
In February 2024, the company revealed its financial results for Q4 and fiscal 2023, showcasing solid revenue and an optimistic outlook for the upcoming fiscal year. A key highlight was the presentation of the film Argylle in the TrueCut Motion™ format, indicating the technology's growing adoption among premium filmmakers.
Pixelworks' TrueCut Motion™ technology, an award-winning post-production platform, allows filmmakers to fine-tune motion looks on a scene-by-scene basis, enhancing the visual storytelling experience. This technology ensures consistent delivery of the director's creative intent, whether viewed in cinemas or home theaters.
In March 2024, DreamWorks Animation announced the release of Kung Fu Panda 4 in select theaters using Pixelworks' TrueCut Motion™ format, further establishing the company's role in enhancing cinematic experiences.
Pixelworks' financial health remains robust, with a focus on operational execution and strategic market expansion. Despite the dynamic smartphone market in China, the company continues to drive growth through new product initiatives and broader ecosystem engagements, aiming to expand its addressable market and long-term growth potential.
For more information on Pixelworks, visit their website.
Pixelworks (NASDAQ: PXLW) reported its third-quarter 2024 financial results, showing a 12% sequential revenue increase to $9.5 million. GAAP gross margin expanded to 51.2%, up from 50.7% in Q2 and 42.9% in Q3 2023. Operating expenses decreased to $13.5 million from $15.1 million in Q2. The company entered a multi-year agreement with Universal Pictures for its TrueCut Motion™ technology and received the 'Little Giant' certification in China. Despite a GAAP net loss of $8.1 million or ($0.14) per share, this was an improvement from a $10.1 million loss in Q2. Non-GAAP net loss was $7.1 million or ($0.12) per share. Adjusted EBITDA was negative $6.3 million, better than Q2's negative $7.0 million. Pixelworks retains Morgan Stanley to explore strategic options for its Shanghai subsidiary.
Pixelworks (NASDAQ: PXLW), a provider of video and display processing solutions, announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. President and CEO Todd DeBonis and CFO Haley Aman will host a conference call at 2:00 p.m. Pacific Time to discuss the results. The company will provide a live audio webcast archived for 90 days on their website, along with a telephone replay available through November 19, 2024.
Pixelworks announced that DreamWorks Animation's 'The Wild Robot' will be released with TrueCut Motion™ technology on premium screens worldwide. This advanced motion grading technology enhances motion clarity, ensuring that important details are not lost during subtle movements or fast action scenes. The Pixelworks team worked closely with filmmakers to optimize the visual experience.
TrueCut Motion is an award-winning technology that provides filmmakers with new motion look options. It allows for fine-tuning of motion in post-production while maintaining the intended cinematic feel. The platform ensures consistent delivery across various screens and devices, including theaters, televisions, mobile devices, and next-generation headsets, in both 3D and 2D environments.
Universal Pictures and Pixelworks have entered into a multi-year, multi-title agreement to implement TrueCut Motion technology in major film releases. The collaboration begins with DreamWorks Animation's "The Wild Robot", set to premiere on September 27, 2024. TrueCut Motion is an advanced motion grading technology that allows filmmakers to enhance and fine-tune motion in post-production while maintaining the intended cinematic look.
This award-winning technology provides a new palette of motion looks, optimizing the viewing experience across various screens and devices, including theaters, televisions, mobile devices, and next-generation headsets. The technology supports both 3D and standard 2D environments, ensuring consistent delivery of creative choices across all platforms.
Pixelworks (NASDAQ: PXLW) reported Q2 2024 financial results with revenue of $8.5 million, down from $16.1 million in Q1 2024 and $13.6 million in Q2 2023. The company recorded a GAAP net loss of $10.1 million, or ($0.17) per share. Non-GAAP net loss was $7.7 million, or ($0.13) per share. Gross profit margin improved to 50.7% on a GAAP basis and 51.0% on a non-GAAP basis.
Pixelworks implemented cost reduction actions, expecting to save $4 million annually starting Q3 2024. The company continued expanding its IRX gaming ecosystem, collaborating with Tencent and Seasun Games. Despite near-term challenges in the mobile business, Pixelworks anticipates sequential revenue growth in Q3 2024.
Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, has announced it will release its second quarter 2024 financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results.
Todd DeBonis, President and CEO, and Haley Aman, CFO, will lead the call. Analysts and investors are invited to join via a live webcast or dial-in. Advanced registration is required for dial-in participants. A live and archived audio webcast will also be available on the Pixelworks website.
Pixelworks has teamed up with Seasun Games to enhance the mobile visual experience of JX3 Ultimate Mobile using IRX rendering acceleration technology. This collaboration allows the game to run smoothly at 120fps on certified mobile devices while maintaining low power consumption. JX3 Ultimate Mobile, an expanded version of the original JX3, supports cross-platform data inheritance, enabling players to enjoy PC-like graphics on mobile. The integration of IRX rendering reduces power usage while delivering high-resolution visuals, making the game more immersive with detailed graphics and smooth performance.
Pixelworks (NASDAQ: PXLW) announced that the new OnePlus Ace 3 Pro smartphone is equipped with its X7 Gen 2 visual processor. The device integrates AI-based distributed rendering architecture to offload rendering pressure from the main processor, enhancing overall rendering and display quality. This mechanism supports a high-frame-rate gaming experience at 120fps and 1.5K resolution while maintaining low power consumption.
The OnePlus Ace 3 Pro features a 6100mAh battery with 100W fast charging and is powered by Qualcomm's Snapdragon 8 Gen 3 Mobile Platform, achieving a high AnTuTu score of 2,326,659 points. The IRX-certified smartphone includes Pixelworks' Super Frame Rate and Picture Quality Engine, which optimizes gaming visuals for various scenarios, delivering cooler, smoother gameplay.
Additionally, the phone supports several IRX-certified games, and the IRX ecosystem allows game creators to utilize Pixelworks' rendering acceleration for enhanced gaming experiences. This collaboration aims to expand the IRX ecosystem and improve mobile gaming continuously.
Pixelworks announced a collaboration with Tencent's TiMi Studio on Honor of Kings, a top-grossing mobile game. The integration of Pixelworks' IRX rendering acceleration SDK allows game-certified devices to deliver a smooth 120fps gaming experience with low power consumption. This collaboration marks the first time a MOBA mobile game incorporates this technology, enhancing visuals and performance. According to Sensor Tower, Honor of Kings topped the APAC mobile game market from January to April 2024. Features include switching between 'High Quality' and 'High Frame Rate' modes, tailored to user preferences. This partnership aims to bring advanced gaming experiences from PC and console to mobile platforms.
Pixelworks (NASDAQ: PXLW) reported a 61% year-over-year revenue increase for Q1 2024. Mobile revenue surged nearly 200% to $9.8 million, accounting for 61% of total revenue. Gross margins expanded to 50.5%. Notable product integrations include the Infinix GT 20 Pro and vivo iQOO Z9 Turbo, powered by Pixelworks' X5 Turbo visual processor. The company’s TrueCut Motion platform expanded with new film releases. Despite operational gains, Pixelworks reported a GAAP net loss of $5.1 million, or ($0.09) per share, and a non-GAAP net loss of $4.0 million, or ($0.07) per share. EBITDA was negative $3.2 million, with cash reserves of $46.2 million.
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