* Our non-GAAP gross profit, 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 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												Six Months Ended
		June 30,				March 31,				June 30,				June 30,				June 30,
		2013				2013				2012				2013				2012
Reconciliation of GAAP net loss and adjusted EBITDA
GAAP net loss		$	(4,924	)		$	(5,405	)		$	(1,099	)		$	(10,329	)		$	(1,737	)
Stock-based compensation			600				684				476				1,284				978
Additional amortization of non-cancelable prepaid royalty			98				91				156				189				288
Tax effect of non-GAAP adjustments			18				(43	)			136				(25	)			(8	)
Non-GAAP net loss		$	(4,208	)		$	(4,673	)		$	(331	)		$	(8,881	)		$	(479	)
EBITDA adjustments:
Depreciation and amortization		$	1,081			$	1,058			$	1,176			$	2,139			$	2,348
Interest expense and other, net			97				98				101				195				199
Non-GAAP provision (benefit) for income taxes			147				(155	)			14				(8	)			(605	)
Adjusted EBITDA		$	(2,883	)		$	(3,672	)		$	960			$	(6,555	)		$	1,463

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