* Our non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating expenses, non-GAAP net income (loss) and non-GAAP net income (loss) per share differs from GAAP gross profit, GAAP operating expenses, GAAP net income (loss) and GAAP net income (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 income (loss) and non-GAAP net income (loss) per share provides useful information to investors regarding Pixelworks' results of operations which allows investors an alternative evaluation of underlying cash flow dynamics. Pixelworks' management also uses each of these non-GAAP measures internally as an alternative evaluation of 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															Twelve Months Ended
			December 31,					September 30,					December 31,					December 31,					December 31,
				2016					2016					2015					2016					2015
Reconciliation of GAAP net income (loss) and adjusted EBITDA
GAAP net income (loss)			$	337				$	(1,242	)			$	(3,167	)			$	(11,107	)			$	(10,570	)
Stock-based compensation				806					784					931					2,662					3,921
Restructuring				7					30										4,392					—
Additional amortization of non-cancelable prepaid royalty				—					—					—					—					(14	)
Tax effect of non-GAAP adjustments				8					(10	)				—					—					—
Non-GAAP net income (loss)			$	1,158				$	(438	)			$	(2,236	)			$	(4,053	)			$	(6,663	)
EBITDA adjustments:
Depreciation and amortization			$	828				$	816				$	1,038				$	3,466				$	4,263
Interest expense and other, net				101					99					129					406					446
Non-GAAP provision (benefit) for income taxes				(10	)				193					128					355					320
Adjusted EBITDA			$	2,077				$	670				$	(941	)			$	174				$	(1,634	)

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