Welcome to our dedicated page for Pixelworks news (Ticker: PXLW), a resource for investors and traders seeking the latest updates and insights on Pixelworks stock.
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, Inc. (Nasdaq: PXLW) announced a public offering of 4,900,000 shares of common stock priced at $2.45 per share, aiming to raise approximately $12.0 million before deductions. The offering is set to close around December 14, 2020, pending customary conditions. Roth Capital Partners and Craig-Hallum Capital Group are managing the offering, which includes a 30-day option for underwriters to buy an additional 735,000 shares. A shelf registration statement was effective on November 16, 2020.
Pixelworks (Nasdaq: PXLW) announced a planned public offering of common stock, with all shares offered by the company. The offering is subject to market conditions, and specifics on terms and size are not yet confirmed. Roth Capital Partners and Craig-Hallum Capital are the joint book-running managers. A shelf registration statement was filed with the SEC and became effective on November 16, 2020. This press release does not constitute an offer to sell or solicit an offer to buy securities in jurisdictions where it would be illegal.
Pixelworks (NASDAQ: PXLW) will participate in two upcoming financial conferences, held virtually. The first is the ROTH Technology Virtual Event on November 11-12, 2020, followed by the Craig-Hallum Alpha-Select Conference on November 17, 2020. Portfolio managers and analysts can schedule one-on-one meetings with management through their sales representatives at the respective firms. Pixelworks specializes in video and display processing solutions, enhancing viewing experiences across various screens.
Pixelworks, Inc. (PXLW) reported Q3 2020 revenue of $8.2 million, down from $9.3 million in Q2 and $18.1 million YoY. Mobile revenue surged over 230% sequentially, benefiting from new smartphone launches. GAAP gross margin was 48.5%, and non-GAAP gross margin was 55.6%. Despite these gains, the company faced a GAAP net loss of $8.1 million ($0.20/share), worsening from $6.6 million in Q2. Cash reserves decreased to $16.8 million, with an additional $6.6 million expected from a private placement. CEO noted challenges in the projector market, but optimism for mobile growth remains.
Pixelworks, Inc. (NASDAQ: PXLW) has appointed Dr. Alan Zhou as Executive Vice President and President of Pixelworks China, enhancing its strategic expansion in Asia. Dr. Zhou brings over 30 years of experience in mobile wireless communications, previously working at Qualcomm and leading significant revenue growth. His focus will be on driving customer engagements and solidifying Pixelworks' technology presence in the China market, particularly in 5G-driven sectors. This leadership change aims to capitalize on growth opportunities in advanced imaging technologies across Asia.
On October 19, 2020, Pixelworks (NASDAQ: PXLW) entered a Securities Purchase Agreement with MTM-Xinhe Investment Limited, a consortium of Chinese investors. The deal involves the issuance of 3.2 million shares, equating to 7% of outstanding shares, for approximately $6.6 million. This investment underscores Pixelworks' efforts to expand in China and leverage local relationships. CEO Todd DeBonis highlighted this move as validation of their technology's potential in the Chinese market. The transaction is expected to close in November 2020.
Pixelworks, Inc. (NASDAQ: PXLW) will announce its third quarter 2020 financial results on October 29, 2020, after market close. A conference call hosted by Todd DeBonis, President and CEO, and Elias Nader, CFO, will take place at 2:00 p.m. PT. Investors can join the call by dialing 1-877-359-9508 or +1-224-357-2393 for international calls, using Conference ID 5276154. The call will also be available via live audio webcast on the company's website.
Pixelworks, Inc. (NASDAQ: PXLW) has partnered with OnePlus to integrate its advanced display technology into the new OnePlus 8T smartphone. This device features a 120 Hz AMOLED display with innovative technologies such as high-efficiency color calibration and adaptive brightness. The OnePlus 8T is expected to enhance user experience through features that improve color accuracy and reduce eye strain. Following the success of the OnePlus 8 Pro, which set display benchmarks, the OnePlus 8T aims to further establish OnePlus's leadership in smartphone visual quality. The phone's availability is anticipated in Q4 2020.
Pixelworks (NASDAQ: PXLW) announced its video processing technology powers SLING TV's AirTV Anywhere device, set to revolutionize local HD channel streaming. The device boasts a 1 TB hard drive with DVR capabilities, allowing integration of over-the-air (OTA) channels into a single user interface. It streams local channels to up to four devices and features the Pixelworks XCode 5116 processor for superior video quality. This collaboration simplifies the transition for consumers aiming to cut cable costs, highlighting significant potential savings.
Pixelworks, Inc. (NASDAQ: PXLW) has launched its sixth-generation mobile visual processor, the Pixelworks i6, featuring low-power AI technology. This industry-first processor enhances picture quality in varying mobile conditions by optimizing contrast, brightness, and color temperature. It supports patented color calibration and HDR technology with 40% lower power consumption than its predecessor. The i6 Pro offers advanced optimization for high refresh rates. The new processor is currently sampling to customers, with commercial production expected in Q4 2020.
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