Core Insights - Pixelworks reported a quarterly loss of $0.13 per share, which was better than the Zacks Consensus Estimate of a loss of $0.15, but worse than the loss of $0.09 per share from the previous year, indicating a 44.44% increase in loss year-over-year [1] - The company achieved an earnings surprise of 13.33% and has surpassed consensus EPS estimates three times over the last four quarters [1][2] - Revenue for the quarter ended June 2024 was $8.54 million, exceeding the Zacks Consensus Estimate by 0.41%, but down 37.06% from $13.61 million year-over-year [2] Financial Performance - Pixelworks has consistently topped consensus revenue estimates over the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is -$0.12 on revenues of $11.5 million, and for the current fiscal year, it is -$0.43 on revenues of $50 million [7] Market Position - Pixelworks shares have declined approximately 36.6% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The Zacks Rank for Pixelworks is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Electronics - Semiconductors industry, to which Pixelworks belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Pixelworks' stock performance [5]

Core Insights - Pixelworks, Inc. reported a significant decline in revenue for Q2 2024, with revenue at $8.5 million, down from $16.1 million in Q1 2024 and $13.6 million in Q2 2023, primarily due to challenges in the mobile business [3][2] - The company is implementing cost reduction measures, including a workforce reduction, expected to save approximately $4 million annually starting in Q3 2024 [2][3] - Pixelworks continues to expand its IRX gaming ecosystem through collaborations with major gaming studios, aiming to enhance mobile visual processing capabilities [2][3] Financial Performance - Q2 2024 revenue was $8.5 million, a decrease of 47.1% sequentially and 37.0% year-over-year [3] - GAAP gross profit margin for Q2 2024 was 50.7%, slightly up from 50.5% in Q1 2024 and significantly higher than 40.3% in Q2 2023 [3][6] - The company recorded a GAAP net loss of $10.1 million, or ($0.17) per share, compared to a net loss of $5.1 million, or ($0.09) per share in Q1 2024 [3][7] Operational Developments - Pixelworks launched the X7 Gen 2 visual processor in the OnePlus Ace 3 Pro smartphone, enhancing rendering capabilities [2] - Collaborations with Tencent's TiMi Studio and Seasun Games aim to integrate Pixelworks' rendering acceleration technology into popular mobile games [2] - The company is targeting an expanded market for mid to lower-tier smartphones to drive future growth [2][3] Cash Position - Cash and cash equivalents at the end of Q2 2024 were $37.8 million, down from $47.5 million at the end of 2023 [3][11] - The decline in cash reserves reflects the company's ongoing operational challenges and net losses [3][11] Future Outlook - The company anticipates sequential revenue growth in Q3 2024, supported by the stable performance of its home and enterprise business [2][3] - Pixelworks is focused on strategic execution to navigate current challenges while expanding its mobile visual processor adoption [2][3]

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: www.pixelworks.com. Pixelworks provides industry-leading content creation, video delivery and display processing solutions and technology that enable highly authentic viewing exper ...

SHANGHAI, July 11, 2024 /PRNewswire/ -- Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of visual processing solutions, today announced its recent collaboration with Seasun Games to optimize the mobile visual processing for JX3 Ultimate Mobile. This large-scale massively multiplayer online ("MMO") game, supporting cross-platform data inheritance and interconnection, is this latest mobile game to integrate and be IRX rendering acceleration certified. When played leveraging the IRX rendering acceleration ...

Pixelworks provides IRX end-to-end gaming experience tuning services for IRX-certified devices, enabling game creators to participate in deploying the rendering acceleration power of Pixelworks' visual processors to deliver excellent gaming experiences to consumers. In addition to featuring high picture quality, low power consumption and premium game performance, IRX serves as a proven ecosystem for integrating dedicated tuning for games that aligns with the original creative intent. Users can enable IRX ga ...

Core Insights - Pixelworks, Inc. has announced a collaboration with Tencent's TiMi Studio group to integrate its IRX rendering acceleration SDK into the mobile game Honor of Kings, enabling a smooth 120fps gaming experience with low power consumption [1][8] - Honor of Kings is the first MOBA mobile game to utilize Pixelworks' IRX technology, enhancing visual performance while optimizing power usage [2][9] - The collaboration aims to provide players with various display modes, allowing real-time switching between "High Quality" and "High Frame Rate" settings to cater to different gaming preferences [2][3] Company Overview - Pixelworks specializes in visual processing solutions, offering advanced content creation, video delivery, and display processing technologies that enhance viewing experiences across various screens [6] - The company has over 20 years of experience in image processing innovation, serving leading providers in consumer electronics and video streaming services [6] - The IRX gaming experience brand was launched in July 2023, focusing on optimizing mobile game performance and display quality for smartphone users [6] Industry Context - Honor of Kings has maintained its position as the top-grossing mobile game from January to April 2024, reflecting the growing demand for high-quality mobile gaming experiences [8] - The integration of advanced rendering technologies like IRX is crucial for meeting the increasing expectations of mobile gamers for high picture quality and frame rates [8][9] - The collaboration between Pixelworks and Tencent represents a significant step in enhancing the mobile gaming ecosystem, aiming to deliver sustainable high-quality gaming experiences [3][9]

Pixelworks, Inc. (NASDAQ:PXLW) Q1 2024 Earnings Conference Call May 14, 2024 5:00 PM ET Company Participants Brett Perry - Investor Relations Todd DeBonis - President and Chief Executive Officer Haley Aman - Chief Financial Officer Conference Call Participants Suji Desilva - ROTH Nicolas Doyle - Needham Richard Shannon - Craig-Hallum Operator Good day, ladies and gentlemen and welcome to Pixelworks, Inc.’s First Quarter 2024 Earnings Conference Call. I’ll be your operator for today’s call. And as a reminder ...

Pixelworks (PXLW) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.15 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.50%. A quarter ago, it was expected that this maker of chips used in high-end digital video devices would post a loss of $0.05 per share when it actually produced a loss of $0.05, delivering no surprise. Over the last four ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________ FORM 10-Q ________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 000-30269 ___________________________________ ...

Exhibit 99.1 Pixelworks Reports First Quarter 2024 Financial Results Total Revenue Increased 61% Year-over-Year; Mobile Revenue Grew nearly 200% Year-over-Year, Reaching a Record 61% of Total Revenue PORTLAND, Ore., May 14, 2024 – Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, today announced financial results for the first quarter ended March 31, 2024. First Quarter and Recent Highlights "First quarter revenue was slightly above the midpoint of gui ...