PIXELWORKS, INC.
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| Three Months Ended | ||||
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| March 31, |
| December 31, |
| March 31, |
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| 2021 |
| 2020 |
| 2020 |
Reconciliation of GAAP and non-GAAP gross profit margin |
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GAAP gross profit margin |
| 40.2 % |
| 45.5 % |
| 49.2 % |
Amortization of acquired intangible assets |
| 2.6 % |
| 3.1 % |
| 2.2 % |
Stock-based compensation |
| 0.9 % |
| 0.9 % |
| 0.7 % |
Restructuring |
| - % |
| 0.1 % |
| - % |
Total reconciling items included in gross profit |
| 3.5 % |
| 4.1 % |
| 2.9 % |
Non-GAAP gross profit margin |
| 43.7 % |
| 49.6 % |
| 52.1 % |
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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. | ||||||
PIXELWORKS, INC.
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| Three Months Ended | ||
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| March 31, | December 31, | March 31, |
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| 2021 | 2020 | 2020 |
Reconciliation of GAAP net loss and adjusted EBITDA |
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GAAP net loss | $ (8,075) | $ (6,439) | $ (5,399) |
Stock-based compensation | 1,432 | 1,756 | 1,822 |
Amortization of acquired intangible assets | 305 | 374 | 374 |
Tax effect of non-GAAP adjustments | (20) | 144 | (25) |
Gain on loan extinguishment | - | (796) | - |
Restructuring | - | 26 | 592 |
Non-GAAP net loss | $ (6,358) | $ (4,935) | $ (2,636) |
| EBITDA adjustments: |
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| Depreciation and amortization | $ 1,016 | $ 983 | $ 1,022 |
| Non-GAAP interest income and other, net | (56) | (7) | (54) |
| Non-GAAP provision for income taxes | 237 | 197 | 201 |
| Adjusted EBITDA | $ (5,161) | $ (3,762) | $ (1,467) |
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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. | |||
