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PXLW

Pixelworks, Inc.

PXLW

Pixelworks, Inc. • NASDAQ
$6.89 ▼ -0.58% (-0.04)
Market Cap $35.67 M
52w High $15.42
52w Low $4.67
Dividend Yield 0%
P/E -1.48
Volume 28.12K
Outstanding Shares 5.18M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $8.771M ▲ $9.993M ▼ $-4.593M ▲ -52.366% ▲ $-0.81 ▲ $-4.458M ▲
Q2-2025 $8.25M ▲ $11.08M ▼ $-6.707M ▲ -81.297% ▲ $-1.27 ▲ $-5.851M ▲
Q1-2025 $7.094M ▼ $11.548M ▲ $-7.761M ▼ -109.402% ▼ $-1.56 ▼ $-7.146M ▼
Q4-2024 $9.09M ▼ $11.456M ▼ $-5.363M ▲ -58.999% ▲ $-0.09 ▲ $-4.543M ▲
Q3-2024 $9.527M $13.511M $-8.141M -85.452% $-0.14 $-7.409M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $14.611M ▲ $50.521M ▼ $23.596M ▲ $-23.932M ▼
Q2-2025 $14.255M ▼ $51.804M ▼ $23.453M ▼ $-22.436M ▼
Q1-2025 $18.504M ▼ $58.46M ▼ $23.996M ▼ $-15.975M ▼
Q4-2024 $23.647M ▼ $64.072M ▼ $24.194M ▼ $-10.568M ▼
Q3-2024 $28.83M $71.13M $26.968M $-8.029M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.432M ▲ $0 ▲ $0 ▼ $0 ▲ $356K ▲ $0 ▲
Q2-2025 $-6.925M ▲ $-4.552M ▲ $531K ▲ $-228K ▼ $-4.249M ▲ $-4.775M ▲
Q1-2025 $-8.02M ▼ $-6.716M ▼ $-17K ▼ $1.59M ▲ $-5.143M ▲ $-6.733M ▼
Q4-2024 $-5.363M ▲ $-5.601M ▲ $528K ▲ $-110K ▲ $-5.183M ▲ $-5.714M ▲
Q3-2024 $-8.141M $-7.814M $-781K $-399K $-8.994M $-8.595M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Engineering Services And Other
Engineering Services And Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Integrated Circuits
Integrated Circuits
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been small and fairly flat over the last five years, with only modest growth and a recent step back. Gross margins look reasonably healthy for a niche chip-and-IP business, but operating expenses remain well above gross profit, so the company has posted operating and net losses every year. Profitability has not yet appeared to be close, and losses per share have persisted, which underlines that scale and business mix still are not sufficient to cover the cost base.

Balance Sheet

Balance Sheet The balance sheet shows a relatively small asset base and a clear downtrend in cash from prior years. The company has essentially no financial debt recently, which lowers financing risk, but shareholder equity has eroded and has now slipped into a deficit position, signaling accumulated losses have overtaken the capital invested. Overall, financial flexibility appears to have weakened, and the company’s capacity to absorb further losses without new capital or asset sales looks more limited than in the past.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, reflecting the ongoing losses and limited scale of the business. Free cash flow has also been negative throughout the period, even though capital spending has been very light, which suggests the cash burn is mainly from funding operating activities rather than heavy investment in physical assets. The business is still in a cash-consuming phase, and the durability of its cash runway depends on external funding sources and any one-time inflows such as the planned Shanghai subsidiary sale.

Competitive Edge

Competitive Edge Pixelworks occupies a specialized niche in visual processing, focusing on motion smoothing, picture quality, and gaming experiences where it can differentiate versus larger general-purpose chip vendors. Its relationships with smartphone makers, game engine providers, and SoC partners, plus its long history in image processing, give it some strategic footholds and ecosystem relevance. However, it competes against very large, well-funded semiconductor companies that can integrate similar capabilities directly into their main chips, and Pixelworks’ long record of weak profitability suggests that its technical advantages have not yet translated into strong, durable financial strength. The company’s pivot toward IP licensing and custom solutions is an attempt to sharpen its niche and improve its bargaining position, but the competitive outcome of that shift remains uncertain.

Innovation and R&D

Innovation and R&D Innovation is clearly the core strength here. Pixelworks has built a sizable patent portfolio around motion processing, low-power visual enhancement, and AI-driven picture optimization, and it offers both dedicated chips and software-based solutions for mobile gaming and display quality. The IRX gaming platform showcases how its technology can upgrade mid-range phones with smoother, more efficient gameplay, while TrueCut Motion targets filmmakers and studios with fine-grained control over motion look across screens. The strategic move toward an asset-light, IP-licensing and custom ASIC model leans directly on this R&D base, aiming to turn technical know-how into higher-margin, recurring licensing streams—though this transition is still in progress and its scale is not yet proven.

Summary

Pixelworks is a small, specialized visual-processing company with strong technical credentials but a challenging financial profile. Revenues are modest and have not yet scaled enough to overcome persistent operating losses, leading to a thinner balance sheet and a shareholder deficit. Cash burn continues, although at a measured level, so access to additional capital and successful execution of the Shanghai subsidiary sale will be important for funding the next phase. On the strategic side, the company’s niche in motion processing, mobile gaming display, and cinematic motion grading is differentiated, and its pivot toward IP licensing and custom designs is aimed at turning that innovation into a more sustainable, higher-margin business. The key uncertainties are whether TrueCut Motion and mobile IP deals can gain enough commercial traction and breadth to reverse the long-standing pattern of weak profitability and strengthen the financial foundation over time.

NEWS

November 26, 2025 · 4:05 PM UTC

Pixelworks to Reconvene Special Meeting of Shareholders on December 8, 2025

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November 14, 2025 · 8:00 AM UTC

Pixelworks to Participate in 14th Annual ROTH Technology Conference

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November 11, 2025 · 4:05 PM UTC

Pixelworks Reports Third Quarter 2025 Financial Results

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November 4, 2025 · 4:15 PM UTC

Pixelworks CEO Publishes Letter to Shareholders

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November 3, 2025 · 4:05 PM UTC

Pixelworks to Announce Third Quarter 2025 Financial Results on November 11

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