Pixelworks Reports Fourth Quarter and Fiscal Year 2023 Financial

Pixelworks Reports Fourth Quarter and Fiscal Year 2023 Financial Results

PIXELWORKS, INC. RECONCILIATION OF GAAP AND NON-GAAP GROSS PROFIT MARGIN * (Figures may not sum due to rounding) (Unaudited)

	Three Months Ended			Twelve Months Ended
	December 31,	September 30,	December 31,	December 31,	December 31,
	2023	2023	2022	2023	2022
Reconciliation of GAAP and non-GAAP gross profit margin
GAAP gross profit margin	44.7 %	42.9 %	53.1 %	43.1 %	51.2 %
Stock-based compensation	0.1 %	0.1 %	0.1 %	0.1 %	0.1 %
Amortization of acquired intangible assets	— %	— %	— %	— %	0.1 %
Total reconciling items included in gross profit	0.1 %	0.1 %	0.1 %	0.1 %	0.2 %
Non-GAAP gross profit margin	44.8 %	43.1 %	53.3 %	43.2 %	51.3 %

*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. RECONCILIATION OF GAAP AND NON-GAAP FINANCIAL INFORMATION * (In thousands) (Unaudited)

	Three Months Ended			Twelve Months Ended
	December 31,	September 30,	December 31,	December 31,	December 31,
	2023	2023	2022	2023	2022
Reconciliation of GAAP net loss attributable to Pixelworks Inc. and adjusted EBITDA
GAAP net loss attributable to Pixelworks Inc.	$ (3,744)	$ (6,999)	$ (1,934)	$ (26,176)	$ (16,030)
Stock-based compensation	1,119	1,252	1,160	4,796	5,198
Tax effect of non-GAAP adjustments	—	—	3	—	—
Amortization of acquired intangible assets	—	—	—	—	90
Non-GAAP net loss attributable to Pixelworks Inc.	$ (2,625)	$ (5,747)	$ (771)	$ (21,380)	$ (10,742)
EBITDA adjustments:
Depreciation and amortization	$ 1,076	$ 1,053	$ 1,167	$ 4,287	$ 4,657
Non-GAAP interest income and other, net	(435)	(471)	(272)	(2,050)	(700)
Non-GAAP provision (benefit) for income taxes	39	158	(1,132)	357	(884)
Adjusted EBITDA	$ (1,945)	$ (5,007)	$ (1,008)	$ (18,786)	$ (7,669)

*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.

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 Next Page »