Workflow
Pixelworks(PXLW)
icon
Search documents
Pixelworks(PXLW) - 2023 Q2 - Earnings Call Transcript
2023-08-09 03:03
Financial Data and Key Metrics Changes - Revenue for Q2 2023 increased by 37% sequentially to $13.6 million from $10 million in Q1 2023, but decreased compared to $19.1 million in Q2 2022 [58] - Non-GAAP gross profit margin was 40.5% in Q2 2023, down from 44.1% in Q1 2023 and 49.3% in Q2 2022 [34] - Adjusted EBITDA for Q2 2023 was a negative $4 million, an improvement from a negative $7.8 million in Q1 2023 and a negative $2.4 million in Q2 2022 [17] Business Line Data and Key Metrics Changes - Mobile revenue increased by over 100% sequentially to approximately $6.9 million, representing a record 50% of total revenue [34] - Home and enterprise revenue was approximately $6.7 million, reflecting a small sequential increase compared to the prior quarter [34] - The mobile business is expected to continue its growth trajectory, with significant top-line growth anticipated in the second half of 2023 [25][26] Market Data and Key Metrics Changes - The smartphone market is experiencing a prolonged inventory correction, but Pixelworks has effectively cleared its mobile IC inventory [26] - The projector market continues to show subdued orders due to macro-related uncertainties, particularly in China [31] Company Strategy and Development Direction - The company is focusing on expanding its mobile ecosystem initiatives, including the introduction of the Pixelworks IRX Gaming Experience brand [9] - The TrueCut Motion platform is positioned as a scalable solution for high frame rate content, with expectations for broader commercialization [55] - The company is preparing for a local listing and has retained CITIC Securities as an advisor for the application process [32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in customer demand during the second half of the year, despite ongoing inventory corrections [13][57] - The company expects to see incremental improvement in gross margins starting in the second half of 2023, with a target of mid-50s gross margin by the end of 2024 [51][100] Other Important Information - The company ended Q2 2023 with cash and cash equivalents of $54.5 million and no outstanding debt [60] - Non-GAAP operating expenses were $10.7 million in Q2 2023, down from $13.6 million in the prior quarter [59] Q&A Session All Questions and Answers Question: How will the IRX brand be marketed going forward? - The company will market the IRX brand alongside its OEM customers and gaming vendors, with a significant focus on local marketing in China and Southeast Asia [41] Question: Is there a bifurcation of demand between premium smartphones and the broader smartphone market? - Management noted that the premium market has held up better than the low-cost market, contributing to their confidence in future growth [42] Question: Do you have good sell-through data for the models you are involved with? - Management relies on customer dialogue to gauge sell-through and noted that premium brands are performing well against OEM expectations [48] Question: What is the expected timeline for margins to return to the 48% to 50% level? - Management targets mid-50s gross margins by the end of 2024, with expectations for mobile to contribute significantly to this improvement [51][100] Question: What is the status of the TrueCut Motion platform? - The company expects to make additional announcements regarding the TrueCut Motion platform before year-end, indicating progress in its commercialization [55][87]
Pixelworks(PXLW) - 2023 Q2 - Quarterly Report
2023-08-08 21:14
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 June 30, 2023 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 ____________________________________ ...
Pixelworks(PXLW) - 2023 Q1 - Earnings Call Transcript
2023-05-09 23:52
Pixelworks, Inc. (NASDAQ:PXLW) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Brett Perry - Investor Relations, Shelton Group Todd DeBonis - President and Chief Executive Officer Haley Aman - Chief Financial Officer Conference Call Participants Rajiv Gill - Needham Suji Desilva - ROTH Capital Richard Shannon - Craig-Hallum Operator Good day, ladies and gentlemen, and welcome to Pixelworks, Inc.'s First Quarter 2023 Earnings Conference Call. I will be your operator for today's c ...
Pixelworks(PXLW) - 2023 Q1 - Quarterly Report
2023-05-09 21:06
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, 2023 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 ___________________________________ ...
Pixelworks(PXLW) - 2022 Q4 - Annual Report
2023-03-08 21:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________ FORM 10-K ________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 PIXELWORKS, INC. (Exact name of registrant as specified in its charter) ________________________________ Oregon 91-1761992 (State or other jur ...
Pixelworks(PXLW) - 2022 Q4 - Earnings Call Transcript
2023-02-10 04:08
Pixelworks, Inc. (NASDAQ:PXLW) Q4 2022 Earnings Conference Call February 9, 2023 6:00 PM ET Company Participants Brett Perry - Shelton Group, IR Todd DeBonis - President and CEO Haley Aman - CFO Conference Call Participants Rajiv Gill - Needham & Company Suji Desilva - ROTH Capital Richard Shannon - Craig-Hallum Operator Good day, ladies and gentlemen, and welcome to Pixelworks, Inc.'s Fourth Quarter 2022 Earnings Conference Call. I will be your operator for today's call. At this time, all participants are ...
Pixelworks(PXLW) - 2022 Q3 - Quarterly Report
2022-11-08 21:03
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 September 30, 2022 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 _______________________________ ...
Pixelworks(PXLW) - 2022 Q3 - Earnings Call Transcript
2022-11-08 03:36
Pixelworks, Inc. (NASDAQ:PXLW) Q3 2022 Earnings Conference Call November 7, 2022 5:00 PM ET Company Participants Brett Perry - Shelton Group, IR Todd DeBonis - President and CEO Haley Aman - CFO Conference Call Participants Suji Desilva - ROTH Capital Sam Peterman - Craig-Hallum Nick Doyle - Needham & Company Operator Good day, ladies and gentlemen, and welcome to Pixelworks, Inc. Third Quarter 2022 Earnings Conference Call. I will be your operator for today's call. At this time, all participants are in a l ...
Pixelworks(PXLW) - 2022 Q2 - Earnings Call Transcript
2022-08-10 22:48
Pixelworks, Inc. (NASDAQ:PXLW) Q2 2022 Earnings Conference Call August 10, 2022 5:00 PM ET Company Participants Brett Perry - Shelton Group, Investor Relations Todd DeBonis - President and Chief Executive Officer Haley Aman - Chief Financial Officer Conference Call Participants Rajvindra Gill - Needham Richard Shannon - Craig-Hallum Suji Desilva - ROTH Operator Good day, ladies and gentlemen, and welcome to Pixelworks, Inc. Second Quarter 2022 Earnings Conference Call. I will be your operator for today's ca ...
Pixelworks(PXLW) - 2022 Q2 - Quarterly Report
2022-08-10 21:16
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 June 30, 2022 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 ____________________________________ ...