* Our non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP
operating expenses, non-GAAP net loss and non-GAAP net loss per share
differs from GAAP gross profit, GAAP operating expenses, GAAP net loss
and GAAP net loss per share due to the exclusion of restructuring
charges, stock-based compensation expense and additional amortization of
a non-cancelable prepaid royalty. Pixelworks' management believes the
presentation of non-GAAP gross profit, non-GAAP operating expenses,
non-GAAP net loss and non-GAAP net loss per share provides useful
information to investors regarding Pixelworks' results of operations by
allowing investors to better evaluate underlying cash flow dynamics.
Pixelworks' management also uses each of these non-GAAP measures
internally to better evaluate underlying cash flow dynamics. Pixelworks,
however, cautions investors to consider these non-GAAP financial
measures in addition to, and not as a substitute for, our GAAP financial
measures.
|
|
|
PIXELWORKS, INC.
|
|
RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL INFORMATION *
|
|
(In thousands)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
|
|
|
|
September 30,
|
|
|
June 30,
|
|
|
September 30,
|
|
|
September 30,
|
|
|
September 30,
|
|
|
|
|
|
2016
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
Reconciliation of GAAP net loss and adjusted EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss
|
|
|
|
$
|
(1,242
|
)
|
|
|
$
|
(1,560
|
)
|
|
|
$
|
(1,243
|
)
|
|
|
$
|
(11,444
|
)
|
|
|
$
|
(7,403
|
)
|
|
Stock-based compensation
|
|
|
|
|
784
|
|
|
|
|
706
|
|
|
|
|
1,019
|
|
|
|
|
1,856
|
|
|
|
|
2,990
|
|
|
Restructuring
|
|
|
|
|
30
|
|
|
|
|
94
|
|
|
|
|
—
|
|
|
|
|
4,385
|
|
|
|
|
—
|
|
|
Additional amortization of non-cancelable prepaid royalty
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
(14
|
)
|
|
|
|
—
|
|
|
|
|
(14
|
)
|
|
Tax effect of non-GAAP adjustments
|
|
|
|
|
(10
|
)
|
|
|
|
4
|
|
|
|
|
65
|
|
|
|
|
(8
|
)
|
|
|
|
—
|
|
|
Non-GAAP net loss
|
|
|
|
$
|
(438
|
)
|
|
|
$
|
(756
|
)
|
|
|
$
|
(173
|
)
|
|
|
$
|
(5,211
|
)
|
|
|
$
|
(4,427
|
)
|
|
EBITDA adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
$
|
816
|
|
|
|
$
|
832
|
|
|
|
$
|
1,086
|
|
|
|
$
|
2,638
|
|
|
|
$
|
3,225
|
|
|
Interest expense and other, net
|
|
|
|
|
99
|
|
|
|
|
107
|
|
|
|
|
105
|
|
|
|
|
305
|
|
|
|
|
317
|
|
|
Non-GAAP provision (benefit) for income taxes
|
|
|
|
|
193
|
|
|
|
|
113
|
|
|
|
|
(128
|
)
|
|
|
|
365
|
|
|
|
|
192
|
|
|
Adjusted EBITDA
|
|
|
|
$
|
670
|
|
|
|
$
|
296
|
|
|
|
$
|
890
|
|
|
|
$
|
(1,903
|
)
|
|
|
$
|
(693
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
