Pixelworks Reports Second Quarter 2022 Financial Results

 

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



Three Months Ended


Six Months Ended



June 30,


March  31,


June 30,


June 30,


June 30,



2022


2022


2021


2022


2021

Reconciliation of GAAP and non-GAAP gross profit margin











GAAP gross profit margin


49.0 %


52.7 %


50.6 %


50.7 %


46.5 %

Stock-based compensation


0.3 %


0.0 %


0.5 %


0.2 %


0.7 %

Amortization of acquired intangible assets


- %


0.4 %


1.6 %


0.2 %


2.0 %

Total reconciling items included in gross profit


0.3 %


0.5 %


2.1 %


0.4 %


2.6 %

Non-GAAP gross profit margin


49.3 %


53.2 %


52.7 %


51.1 %


49.1 %












*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

Six Months Ended


June 30,

March  31,

June 30,

June 30,

June 30,


2022

2022

2021

2022

2021

Reconciliation of GAAP net loss attributable to Pixelworks Inc. and adjusted EBITDA






GAAP net loss attributable to Pixelworks Inc.

$              (5,008)

$              (4,592)

$              (4,382)

$              (9,600)

$            (12,457)

Stock-based compensation

1,695

1,049

1,506

2,744

2,938

Tax effect of non-GAAP adjustments

(1)

(3)

4

(4)

(16)

Amortization of acquired intangible assets

-

90

271

90

576

Non-GAAP net loss attributable to Pixelworks Inc.

$              (3,314)

$              (3,456)

$              (2,601)

$              (6,770)

$              (8,959)

EBITDA adjustments:






Depreciation and amortization

$               1,126

$               1,040

$                  906

$               2,166

$               1,922

Non-GAAP interest income and other, net

(101)

(162)

(181)

(263)

(237)

Non-GAAP provision (benefit) for income taxes

(87)

406

103

319

340

Adjusted EBITDA

$              (2,376)

$              (2,172)

$              (1,773)

$              (4,548)

$              (6,934)







*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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