Pixelworks Reports Second Quarter 2024 Financial Results
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 (NASDAQ: PXLW) ha riportato i risultati finanziari del secondo trimestre del 2024 con un fatturato di $8,5 milioni, in calo rispetto ai $16,1 milioni del primo trimestre del 2024 e ai $13,6 milioni del secondo trimestre del 2023. L'azienda ha registrato una perdita netta GAAP di $10,1 milioni, ovvero ($0,17) per azione. La perdita netta non-GAAP è stata di $7,7 milioni, ossia ($0,13) per azione. Il margine di profitto lordo è migliorato al 50,7% su base GAAP e al 51,0% su base non-GAAP.
Pixelworks ha attuato azioni di riduzione dei costi, prevedendo di risparmiare $4 milioni all'anno a partire dal terzo trimestre del 2024. L'azienda ha continuato ad espandere il suo ecosistema di gioco IRX, collaborando con Tencent e Seasun Games. Nonostante le sfide a breve termine nel settore mobile, Pixelworks prevede una crescita sequenziale del fatturato nel terzo trimestre del 2024.
Pixelworks (NASDAQ: PXLW) anunció los resultados financieros del segundo trimestre de 2024, con ingresos de $8.5 millones, una disminución desde los $16.1 millones del primer trimestre de 2024 y los $13.6 millones del segundo trimestre de 2023. La compañía reportó una pérdida neta GAAP de $10.1 millones, o ($0.17) por acción. La pérdida neta no-GAAP fue de $7.7 millones, o ($0.13) por acción. El margen de ganancia bruta mejoró al 50.7% basado en GAAP y al 51.0% basado en no-GAAP.
Pixelworks implementó acciones de reducción de costos, esperando ahorrar $4 millones anuales a partir del tercer trimestre de 2024. La compañía continuó expandiendo su ecosistema de juegos IRX, colaborando con Tencent y Seasun Games. A pesar de los desafíos a corto plazo en el negocio móvil, Pixelworks anticipa un crecimiento secuencial de ingresos en el tercer trimestre de 2024.
Pixelworks (NASDAQ: PXLW)가 2024년 2분기 재무 결과를 발표했습니다. 매출은 $8.5백만으로 2024년 1분기의 $16.1백만과 2023년 2분기의 $13.6백만에서 감소했습니다. 회사는 GAAP 기준으로 $10.1백만의 순손실을 기록했으며, 주당 ($0.17)입니다. 비GAAP 순손실은 $7.7백만으로 주당 ($0.13)입니다. 총 이익률은 GAAP 기준으로 50.7%, 비GAAP 기준으로 51.0%로 개선되었습니다.
Pixelworks는 비용 절감 조치를 시행했으며, 2024년 3분기부터 연간 $4백만의 절감을 기대하고 있습니다. 회사는 Tencent 및 Seasun Games와 협력하여 IRX 게임 생태계를 계속 확장하고 있습니다. 모바일 사업에서 단기적인 어려움이 있지만, Pixelworks는 2024년 3분기에 연속적인 매출 증가를 예상하고 있습니다.
Pixelworks (NASDAQ: PXLW) a publié les résultats financiers du deuxième trimestre 2024, avec des revenus de $8,5 millions, en baisse par rapport à $16,1 millions au premier trimestre 2024 et $13,6 millions au deuxième trimestre 2023. La société a enregistré une perte nette GAAP de $10,1 millions, soit ($0,17) par action. La perte nette non-GAAP était de $7,7 millions, soit ($0,13) par action. La marge brute a amélioré pour atteindre 50,7 % sur une base GAAP et 51,0 % sur une base non-GAAP.
Pixelworks a mis en place des actions de réduction des coûts, s'attendant à réaliser des économies de $4 millions par an à compter du troisième trimestre 2024. L'entreprise a continué d'élargir son écosystème de jeux IRX, en collaborant avec Tencent et Seasun Games. Malgré les défis à court terme dans le secteur mobile, Pixelworks anticipe une croissance séquentielle des revenus au troisième trimestre 2024.
Pixelworks (NASDAQ: PXLW) hat die finanziellen Ergebnisse für das 2. Quartal 2024 bekannt gegeben, mit Einnahmen von $8,5 Millionen, ein Rückgang von $16,1 Millionen im 1. Quartal 2024 und $13,6 Millionen im 2. Quartal 2023. Das Unternehmen verzeichnete einen GAAP-Nettoverlust von $10,1 Millionen, oder ($0,17) pro Aktie. Der Nettoverlust nach nicht-GAAP betrug $7,7 Millionen, oder ($0,13) pro Aktie. Die Bruttogewinnmarge verbesserte sich auf 50,7 % basierend auf GAAP und 51,0 % basierend auf nicht-GAAP.
Pixelworks implementierte Kostensenkungsmaßnahmen und erwartet, ab dem 3. Quartal 2024 jährlich $4 Millionen einzusparen. Das Unternehmen erweiterte weiterhin sein IRX-Gaming-Ökosystem und arbeitete mit Tencent und Seasun Games zusammen. Trotz kurzfristiger Herausforderungen im Mobilgeschäft erwartet Pixelworks im 3. Quartal 2024 ein sequenzielles Umsatzwachstum.
- Implemented cost reduction actions expected to save $4 million annually
- Expanded IRX gaming ecosystem through collaborations with Tencent and Seasun Games
- Improved gross profit margin to 50.7% (GAAP) and 51.0% (non-GAAP)
- Anticipates sequential revenue growth in Q3 2024
- Revenue declined to $8.5 million, down from $16.1 million in Q1 2024 and $13.6 million in Q2 2023
- GAAP net loss increased to $10.1 million, compared to $5.1 million in Q1 2024
- Non-GAAP net loss widened to $7.7 million from $4.0 million in Q1 2024
- Cash and cash equivalents decreased to $37.8 million from $47.5 million at the end of 2023
Insights
Pixelworks' Q2 2024 results reflect significant challenges, particularly in their mobile business. Revenue of
Despite these headwinds, there are some positive aspects. Gross profit margin improved slightly to
The focus on expanding the IRX gaming ecosystem and targeting mid to lower-tier smartphones could potentially drive future growth, but the immediate outlook remains challenging. With cash reserves down to
Pixelworks' Q2 results highlight the volatile nature of the mobile tech sector. The significant revenue drop, attributed to inventory correction at a major OEM customer, underscores the risks of relying heavily on a few large clients. However, the company's strategic pivot towards mid to lower-tier smartphones and expansion of its IRX gaming ecosystem shows adaptability.
The collaboration with Tencent's TiMi Studio and integration into popular games like Honor of Kings and JX3 Ultimate Mobile are promising developments. These partnerships could enhance Pixelworks' visibility and market penetration in the competitive mobile gaming space. The upcoming release of a next-generation mobile visual processor could also provide a much-needed catalyst for growth.
While the near-term outlook remains challenging, Pixelworks' focus on PC-quality visuals for mobile gaming, without excessive heat or battery drain, positions them well in a growing market segment. The success of this strategy will depend on broader adoption of their technology and the ability to scale across multiple OEMs and game developers.
Second Quarter and Recent Highlights
- OPPO affiliate, OnePlus, launched the OnePlus Ace 3 Pro smartphone, incorporating Pixelworks' X7 Gen 2 visual processor featuring AI-based distributed computing architecture and enhanced rendering capability
- Announced collaboration with Tencent's TiMi Studio group and the integration of Pixelworks' IRX rendering acceleration technology in the Honor of Kings mobile game
- Collaborated with Seasun Games to optimize visual processing and bring detailed 120fps display effects to JX3 Ultimate Mobile, making it the latest mobile game to leverage IRX certified rendering acceleration
- Implemented reduction in workforce to better align operating expense with near-term revenue levels, anticipated to contribute approximately
$4.0 million
"Second quarter revenue was at the midpoint guidance and largely reflected the expected headwinds in our mobile business, primarily related to the inventory correction at a large mobile OEM customer," stated Todd DeBonis, President and CEO of Pixelworks. "In response and to better align expenses with near-term revenue levels, we implemented cost reduction actions during the quarter, which are anticipated to result in
"During the quarter, we made continued progress on the expansion of our IRX gaming ecosystem. Our recent announced collaborations with Tencent on Honor of Kings and Seasun Games on JX3 Ultimate Mobile represent the latest additions to the growing list of IRX certified mobile games. Coupled with one of Pixelworks' X-series of visual processors, our IRX rendering accelerator technology enables PC-quality visual performance on a smartphone without generating excessive heat or battery consumption. Growing this ecosystem remains a fundamental element of our multi-pronged mobile strategy to drive broader adoption of our mobile visual processors, and we currently engaged with multiple top gaming studios to release several additional high-profile IRX mobile games later this year.
"Looking ahead, we are confronting the recent challenges head-on while remaining focused on strategic and operational execution across all areas of the business. We are well positioned today for renewed growth in mobile, as we increasingly target an expanded served market for mid to lower tier smartphones. Additionally, the size and influence of our IRX gaming ecosystem continues to grow and will soon be further supported by the introduction of our next-generation mobile visual processor. Together with stable performance of our home and enterprise business, we expect to deliver sequential revenue growth in the third quarter as we continue to target improved operational results over the intermediate-term."
Second Quarter 2024 Financial Results
Revenue in the second quarter of 2024 was
On a GAAP basis, gross profit margin in the second quarter of 2024 was
On a non-GAAP basis, second quarter 2024 gross profit margin was
For the second quarter of 2024, the Company recorded a GAAP net loss of
For the second quarter of 2024, the Company recorded a non-GAAP net loss of
Adjusted EBITDA in the second quarter of 2024 was a negative
Cash and cash equivalents at the end of the second quarter of 2024 were
Business Outlook
The Company's current business outlook, including guidance for the third quarter of 2024, will be discussed as part of the scheduled conference call.
Conference Call Information
Pixelworks will host a conference call today, August 7, 2024, at 2:00 p.m. Pacific Time. To join the conference call via phone, participants are required to complete the following registration form to receive a dial-in number and dedicated PIN for accessing the conference call. Additionally, a live and archived audio webcast of the conference call will be accessible via the investors section of Pixelworks' website at www.pixelworks.com.
About 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 – 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 www.pixelworks.com.
Note: Pixelworks, MotionEngine, 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. 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 Inc. before interest income and other, net, income tax provision, depreciation and amortization, as well as the specific item 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 the Company 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 future collaborations with game studios, the expected growth of the IRX ecosystem, expected adoption rates for our mobile visual processors, expansion into mid- to low-tier smartphones, continued performance of our home and enterprise business, and expected cost savings. 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 performance of the smartphone market throughout 2024; 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 expanding markets; current global economic challenges; changes in the digital display and projection markets; seasonality in the consumer electronics market; our efforts to achieve profitability from operations; our limited financial resources; and our ability to attract and retain key personnel. More information regarding potential factors that could affect the Company's financial results and could cause actual results to differ materially from those discussed in the forward-looking statements is included from time to time in the Company's Securities and Exchange Commission filings, including its Annual Report on Form 10-K for the year ended December 31, 2023, as well as subsequent SEC filings.
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]
PIXELWORKS, INC. | |||||
Three Months Ended | Six Months Ended | ||||
June 30, | March 31, | June 30, | June 30, | June 30, | |
2024 | 2024 | 2023 | 2024 | 2023 | |
Revenue, net | $ 8,535 | $ 16,054 | $ 13,605 | $ 24,589 | $ 23,571 |
Cost of revenue (1) | 4,209 | 7,940 | 8,121 | 12,149 | 13,720 |
Gross profit | 4,326 | 8,114 | 5,484 | 12,440 | 9,851 |
Operating expenses: | |||||
Research and development (2) | 7,943 | 8,073 | 6,507 | 16,016 | 15,173 |
Selling, general and administrative (3) | 5,722 | 5,534 | 5,468 | 11,256 | 11,540 |
Restructuring | 1,403 | — | — | 1,403 | — |
Total operating expenses | 15,068 | 13,607 | 11,975 | 28,675 | 26,713 |
Loss from operations | (10,742) | (5,493) | (6,491) | (16,235) | (16,862) |
Interest income and other, net | 327 | 434 | 473 | 761 | 1,144 |
Loss before income taxes | (10,415) | (5,059) | (6,018) | (15,474) | (15,718) |
Provision for income taxes | 32 | 105 | 126 | 137 | 160 |
Net loss | (10,447) | (5,164) | (6,144) | (15,611) | (15,878) |
Less: Net loss attributable to non-controlling | 298 | 98 | 107 | 396 | 445 |
Net loss attributable to Pixelworks Inc. | $ (10,149) | $ (5,066) | $ (6,037) | $ (15,215) | $ (15,433) |
Net loss attributable to Pixelworks Inc. per share - basic and | $ (0.17) | $ (0.09) | $ (0.11) | $ (0.26) | $ (0.28) |
Weighted average shares outstanding - basic and diluted | 58,151 | 57,472 | 55,917 | 57,812 | 55,666 |
—————— | |||||
(1) Includes: | |||||
Restructuring | 16 | — | — | 16 | — |
Stock-based compensation | 10 | 18 | 22 | 28 | 46 |
(2) Includes stock-based compensation | 316 | 330 | 527 | 646 | 1,018 |
(3) Includes stock-based compensation | 599 | 727 | 710 | 1,326 | 1,361 |
PIXELWORKS, INC. | |||||
Three Months Ended | Six Months Ended | ||||
June 30, | March 31, | June 30, | June 30, | June 30, | |
2024 | 2024 | 2023 | 2024 | 2023 | |
Reconciliation of GAAP and non-GAAP gross profit | |||||
GAAP gross profit | $ 4,326 | $ 8,114 | $ 5,484 | $ 12,440 | $ 9,851 |
Restructuring | 16 | — | — | 16 | — |
Stock-based compensation | 10 | 18 | 22 | 28 | 46 |
Total reconciling items included in gross profit | 26 | 18 | 22 | 44 | 46 |
Non-GAAP gross profit | $ 4,352 | $ 8,132 | $ 5,506 | $ 12,484 | $ 9,897 |
Non-GAAP gross profit margin | 51.0 % | 50.7 % | 40.5 % | 50.8 % | 42.0 % |
Reconciliation of GAAP and non-GAAP operating expenses | |||||
GAAP operating expenses | $ 15,068 | $ 13,607 | $ 11,975 | $ 28,675 | $ 26,713 |
Reconciling item included in research and development: | |||||
Stock-based compensation | 316 | 330 | 527 | 646 | 1,018 |
Reconciling items included in selling, general and administrative: | |||||
Stock-based compensation | 599 | 727 | 710 | 1,326 | 1,361 |
Restructuring | 1,403 | — | — | 1,403 | — |
Total reconciling items included in operating expenses | 2,318 | 1,057 | 1,237 | 3,375 | 2,379 |
Non-GAAP operating expenses | $ 12,750 | $ 12,550 | $ 10,738 | $ 25,300 | $ 24,334 |
Reconciliation of GAAP and non-GAAP net loss | |||||
GAAP net loss attributable to Pixelworks Inc. | $ (10,149) | $ (5,066) | $ (6,037) | $ (15,215) | $ (15,433) |
Reconciling items included in gross profit | 26 | 18 | 22 | 44 | 46 |
Reconciling items included in operating expenses | 2,318 | 1,057 | 1,237 | 3,375 | 2,379 |
Tax effect of non-GAAP adjustments | 74 | — | — | 74 | — |
Non-GAAP net loss attributable to Pixelworks Inc. | $ (7,731) | $ (3,991) | $ (4,778) | $ (11,722) | $ (13,008) |
Non-GAAP net loss attributable to Pixelworks Inc. per share - | $ (0.13) | $ (0.07) | $ (0.09) | $ (0.20) | $ (0.23) |
Non-GAAP weighted average shares outstanding - basic and diluted | 58,151 | 57,472 | 55,917 | 57,812 | 55,666 |
*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. | |||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | |||||||||||||||||
2024 | 2024 | 2023 | 2024 | 2023 | |||||||||||||||||
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 | |||||||||||||||||||||
GAAP net loss attributable to Pixelworks Inc. | $ (0.17) | $ (0.17) | $ (0.09) | $ (0.09) | $ (0.11) | $ (0.11) | $ (0.26) | $ (0.26) | $ (0.28) | $ (0.28) | |||||||||||
Reconciling items included in gross profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
Reconciling items included in operating expenses | 0.04 | 0.04 | 0.02 | 0.02 | 0.02 | 0.02 | 0.06 | 0.06 | 0.04 | 0.04 | |||||||||||
Non-GAAP net loss attributable to Pixelworks Inc. | $ (0.13) | $ (0.13) | $ (0.07) | $ (0.07) | $ (0.09) | $ (0.09) | $ (0.20) | $ (0.20) | $ (0.23) | $ (0.23) | |||||||||||
*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. | ||||||||||
Three Months Ended | Six Months Ended | |||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | ||||||
2024 | 2024 | 2023 | 2024 | 2023 | ||||||
Reconciliation of GAAP and non-GAAP gross profit | ||||||||||
GAAP gross profit margin | 50.7 % | 50.5 % | 40.3 % | 50.6 % | 41.8 % | |||||
Stock-based compensation | 0.1 % | 0.1 % | 0.2 % | 0.1 % | 0.2 % | |||||
Restructuring | 0.2 % | — % | — % | 0.1 % | — % | |||||
Total reconciling items included in gross profit | 0.3 % | 0.1 % | 0.2 % | 0.2 % | 0.2 % | |||||
Non-GAAP gross profit margin | 51.0 % | 50.7 % | 40.5 % | 50.8 % | 42.0 % | |||||
*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP | ||||||||||
PIXELWORKS, INC. | |||||
Three Months Ended | Six Months Ended | ||||
June 30, | March 31, | June 30, | June 30, | June 30, | |
2024 | 2024 | 2023 | 2024 | 2023 | |
Reconciliation of GAAP net loss attributable to Pixelworks Inc. and | |||||
GAAP net loss attributable to Pixelworks Inc. | $ (10,149) | $ (5,066) | $ (6,037) | $ (15,215) | $ (15,433) |
Restructuring | 1,419 | — | — | 1,419 | — |
Stock-based compensation | 925 | 1,075 | 1,259 | 2,000 | 2,425 |
Tax effect of non-GAAP adjustments | 74 | — | — | 74 | — |
Non-GAAP net loss attributable to Pixelworks Inc. | $ (7,731) | $ (3,991) | $ (4,778) | $ (11,722) | $ (13,008) |
EBITDA adjustments: | |||||
Depreciation and amortization | $ 1,059 | $ 1,109 | $ 1,077 | $ 2,168 | $ 2,158 |
Non-GAAP interest income and other, net | (327) | (434) | (473) | (761) | (1,144) |
Non-GAAP provision (benefit) for income taxes | (42) | 105 | 126 | 63 | 160 |
Adjusted EBITDA | $ (7,041) | $ (3,211) | $ (4,048) | $ (10,252) | $ (11,834) |
*Set forth above are reconciliations of the non-GAAP financial measure to the most directly comparable GAAP financial measure. The non-GAAP financial measure | |||||
PIXELWORKS, INC. | ||
June 30, 2024 | December 31, | |
ASSETS | ||
Current assets: | ||
Cash and cash equivalents | $ 37,824 | $ 47,544 |
Accounts receivable, net | 4,910 | 10,075 |
Inventories | 5,021 | 3,968 |
Prepaid expenses and other current assets | 2,222 | 3,138 |
Total current assets | 49,977 | 64,725 |
Property and equipment, net | 7,051 | 5,997 |
Operating lease right of use assets | 4,547 | 4,725 |
Other assets, net | 1,652 | 2,115 |
Goodwill | 18,407 | 18,407 |
Total assets | $ 81,634 | $ 95,969 |
LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND SHAREHOLDERS' | ||
Current liabilities: | ||
Accounts payable | $ 2,500 | $ 2,416 |
Accrued liabilities and current portion of long-term liabilities | 9,148 | 9,692 |
Current portion of income taxes payable | 220 | 189 |
Total current liabilities | 11,868 | 12,297 |
Long-term liabilities, net of current portion | 673 | 1,373 |
Deposit liability | 14,098 | 13,781 |
Operating lease liabilities, net of current portion | 2,463 | 2,567 |
Income taxes payable, net of current portion | 1,006 | 939 |
Total liabilities | 30,108 | 30,957 |
Redeemable non-controlling interest | 27,517 | 28,214 |
Total Pixelworks, Inc. shareholders' equity | 486 | 12,541 |
Non-controlling interest | 23,523 | 24,257 |
Total shareholders' equity | 24,009 | 36,798 |
Total liabilities, redeemable non-controlling interest and shareholders' equity | $ 81,634 | $ 95,969 |
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SOURCE Pixelworks, Inc.
FAQ
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