PIXELWORKS, INC.
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| Three Months Ended |
| Six Months Ended | ||||||
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| June 30, |
| March 31, |
| June 30, |
| June 30, |
| June 30, |
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| 2021 |
| 2021 |
| 2020 |
| 2021 |
| 2020 |
Reconciliation of GAAP and non-GAAP gross profit margin |
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GAAP gross profit margin |
| 50.6 % |
| 40.2 % |
| 54.6 % |
| 46.5 % |
| 51.3 % |
Amortization of acquired intangible assets |
| 1.6 % |
| 2.6 % |
| 3.2 % |
| 2.0 % |
| 2.6 % |
Stock-based compensation |
| 0.5 % |
| 0.9 % |
| 1.4 % |
| 0.7 % |
| 1.0 % |
Total reconciling items included in gross profit |
| 2.1 % |
| 3.5 % |
| 4.6 % |
| 2.6 % |
| 3.6 % |
Non-GAAP gross profit margin |
| 52.7 % |
| 43.7 % |
| 59.2 % |
| 49.1 % |
| 54.9 % |
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*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.
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PIXELWORKS, INC.
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| Three Months Ended | Six Months Ended | |||
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| June 30, | March 31, | June 30, | June 30, | June 30, |
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| 2021 | 2021 | 2020 | 2021 | 2020 |
Reconciliation of GAAP net loss and adjusted EBITDA |
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GAAP net loss | $ (4,382) | $ (8,075) | $ (6,552) | $ (12,457) | $ (11,951) |
| Stock-based compensation | 1,506 | 1,432 | 2,243 | 2,938 | 4,065 |
| Amortization of acquired intangible assets | 271 | 305 | 374 | 576 | 748 |
| Tax effect of non-GAAP adjustments | 4 | (20) | 18 | (16) | (7) |
| Restructuring | - | - | - | - | 592 |
| Non-GAAP net loss | $ (2,601) | $ (6,358) | $ (3,917) | $ (8,959) | $ (6,553) |
| EBITDA adjustments: |
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| Depreciation and amortization | $ 906 | $ 1,016 | $ 871 | $ 1,922 | $ 1,893 |
| Non-GAAP interest expense (income) and other, net | (181) | (56) | 24 | (237) | (30) |
| Non-GAAP provision for income taxes | 103 | 237 | 89 | 340 | 290 |
| Adjusted EBITDA | $ (1,773) | $ (5,161) | $ (2,933) | $ (6,934) | $ (4,400) |
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| *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. | |||||
