Pixelworks Inc【PXLW】株式ニュース

Pixelworks Reports First Quarter 2026 Financial ResultsMay 14, 2026 4:05 PM
PR Newswire (US) PORTLAND, Ore., May 14, 2026 /PRNewswire/ -- Pixelworks, Inc. (NASDAQ: PXLW) ("Pixelworks" or the "Company"), a provider of innovative cinematic and enhanced visualization solutions, today announced financial results for the first quarter ended March 31, 2026.First Quarter 2026 and Recent HighlightsTrueCut Motion™ platform used to enable cinematic innovation in the post-production of groundbreaking concert film, Billie Eilish: Hit Me Hard and Soft – The Tour Live in 3DReceived endorsement from Vue, the largest privately owned cinema operator in Europe, to bring advanced TrueCut Motion grading technology to movies in its premium cinematic experience auditoriumsClosed sale of Pixelworks' Shanghai semiconductor subsidiary to VeriSilicon in January 2026, strengthening the Company's financial position and flexibility Completed restructuring and streamlining of operations, refocusing the remaining organization on the Company's global technology licensing business Ended first quarter with cash and cash equivalents balance of approximately $58 million as of March 31, 2026, and no debt Board of Directors authorized newly established stock repurchase program in the amount of $5 million"Following the closed sale of our Shanghai-based subsidiary in early January, we completed a series of planned restructuring actions to streamline our post-transaction organization and cost structure to align with our go-forward strategy and business model," stated Todd DeBonis, Chairman and CEO of Pixelworks. "Today, Pixelworks is a repositioned and focused company with the entire team now directly supporting our strategy of building a global technology licensing business."Underpinned by our proven TrueCut Motion platform as well as significant intellectual property and expertise in visual imaging, we aim to deliver a growing portfolio of highly differentiated cinematic and visualization enhancement solutions. During the first quarter, we completed work on our most technically challenging motion grading project to-date, and we also continued to expand the ecosystem of theater operators endorsing our TrueCut Motion format. With a strong balance sheet, industry-leading technology and a lean organization, we are well capitalized to execute on our strategic growth objectives as global technology licensing company."As previously announced, on January 6, 2026, the Company completed the transaction to sell its shares in Pixelworks Semiconductor Technology (Shanghai) Co., Ltd., a subsidiary of Pixelworks ("Pixelworks Shanghai"), to a special purpose entity led by VeriSilicon Microelectronics (Shanghai). The contribution from the Pixelworks Shanghai semiconductor subsidiary to the operating results of the Company for the first quarter of 2026 was determined to be immaterial. Therefore, the Company's reported financial results contained in today's press release do not include discontinued operations activity from the first several days of January 2026 before the sale closed.Conference Call InformationPixelworks will host a conference call today, May 14, 2026, at 2:00 p.m. Pacific Time. Analysts and investors are invited to join the Company's conference call using the following information:First Quarter 2026 Conference Call
Date: Thursday, May 14, 2026
Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time)
Live Webcast Link: Click Here
Dial-in Participation Registration Link: Click HereAdvanced registration is required for dial-in participants. Please complete the linked registration form above to receive a dial-in number and dedicated PIN for accessing the conference call by phone. A live and archived audio webcast of the conference call will also be accessible via the investors section of Pixelworks' website: www.pixelworks.com.Pixelworks, Inc.Pixelworks (NASDAQ: PXLW) is a technology licensing company specializing in cinematic visualization solutions, including industry-leading content creation, delivery and display processing solutions that enable highly authentic viewing experiences with superior visual quality. Pixelworks has more than 20 years of delivering image processing innovation to leading providers of consumer electronics, professional displays and video streaming services.About TrueCut MotionTrueCut Motion is a powerful video platform from Pixelworks that provides filmmakers with a new palette for motion. It enables shot-by-shot motion grading, allowing creators to manage judder, motion blur, and frame rates to achieve a consistent, cinematic look across all screens.For more information on TrueCut Motion, visit: www.truecutmotion.comNote: Pixelworks, the Pixelworks logo, Truecut Motion and Truecut are trademarks of Pixelworks, Inc.Safe Harbor StatementThis release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by use of terms such as "begin," "continue," "will," "expect", "believe," "anticipate" and similar terms or the negative of such terms, and include, without limitation, statements regarding the endorsement by Vue of TrueCut Motion technology and the Company's strategy to grow as a global technology licensing business. All statements other than statements of historical fact are forward-looking statements for purposes of this release. Such statements are based on management's current expectations, estimates and projections about the Company's business. These statements are not guarantees of future performance and involve numerous risks, uncertainties and assumptions that are difficult to predict. Actual results could vary materially from those contained in forward looking statements due to many factors, including, without limitation, market and other conditions and other factors described in our other filings with the Securities and Exchange Commission (the "SEC") from time to time. More information regarding potential factors that could affect the Company's financial results and could cause actual results to differ materially from those discussed in the forward-looking statements is included from time to time in the Company's Securities and Exchange Commission filings, including its Annual Report on Form 10-K for the year ended December 31, 2025, as well as subsequent SEC filings.The forward-looking statements contained in this release are as of the date of this release, and the Company does not undertake any obligation to update any such statements, whether as a result of new information, future events or otherwise.[Financial Tables Follow]PIXELWORKS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data)(Unaudited)

Three Months Ended March 31,
2026
2025Revenue, net$          446
$            —Cost of revenue193
8Gross profit253
(8)Operating expenses:

Research and development (1)965
971Selling, general and administrative (2)2,203
2,114Restructuring1,995
—Total operating expenses5,163
3,085Loss from operations(4,910)
(3,093)Interest income319
38Loss before income taxes(4,591)
(3,055)Benefit for income taxes(22)
(240)Net loss from continuing operations(4,569)
(2,815)Net income (loss) from discontinued operations, net of income taxes85,153
(5,205)Net income (loss)80,584
(8,020)Less: Net loss attributable to redeemable non-controlling interest and
non-controlling interest—
259Net income (loss) attributable to Pixelworks, Inc.$       80,584
$       (7,761)

Net loss from continuing operations per share - basic and diluted$        (0.72)
$        (0.56)Net income (loss) from discontinued operations per share:

Basic$        13.41
$        (1.03)Diluted$        13.17
$        (1.03)Net income (loss) attributable to Pixelworks, Inc. per share:

Basic$        12.69
$        (1.54)Diluted$        12.46
$        (1.54)Weighted average shares outstanding:

Basic6,352
5,049Diluted6,468
5,049

(1) Includes stock-based compensation33
124(2) Includes stock-based compensation322
299 PIXELWORKS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited)

March 31,
2026
December 31,
2025ASSETS

Current assets:

Cash and cash equivalents$          57,821
$          11,243Prepaid expenses and other current assets1,332
568Current assets held for sale—
38,422Total current assets59,153
50,233Property and equipment, net247
205Operating lease right-of-use assets535
704Other assets, net64
121Total assets$          59,999
$          51,263LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND
SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable$              205
$               —Accrued liabilities and current portion of long-term liabilities1,833
1,972Current portion of income taxes payable59
43Current liabilities held for sale—
18,005Total current liabilities2,097
20,020Operating lease liabilities, net of current portion232
298Income taxes payable, net of current portion443
508Deferred tax liability—
31Total liabilities2,772
20,857Commitments and contingencies

Redeemable non-controlling interest—
28,600Shareholders' equity:

Preferred stock—
—Common stock504,765
504,405Accumulated other comprehensive income257
2,882Accumulated deficit(447,795)
(528,379)Total Pixelworks, Inc. shareholders' equity (deficit)57,227
(21,092)Non-controlling interest—
22,898Total shareholders' equity57,227
1,806Total liabilities, redeemable non-controlling interest and shareholders' equity$          59,999
$          51,263   View original content to download multimedia:https://www.prnewswire.com/news-releases/pixelworks-reports-first-quarter-2026-financial-results-302772821.htmlSOURCE Pixelworks, Inc. Original: Pixelworks Reports First Quarter 2026 Financial Results

Pixelworks Reports Full Year 2025 Financial ResultsMarch 12, 2026 4:05 PM
PR Newswire (US)

PORTLAND, Ore., March 12, 2026 /PRNewswire/ -- Pixelworks, Inc. (NASDAQ: PXLW), a provider of innovative cinematic and enhanced visualization solutions, today announced financial results for the fiscal year ended December 31, 2025.Full Year 2025 and Recent HighlightsDreamWorks Animation's The Bad Guys 2 released by Universal Pictures to worldwide premium large format theaters in TrueCut Motion™Universal Pictures' Nobody 2 released globally in TrueCut Motion for select premium large format theatersJurassic World Rebirth from Universal Pictures showcased on CINITY premium screens in TrueCut Motion by China Film GroupAnnounced partnership with Marcus Theatres to prioritize TrueCut Motion enhanced versions of titles across theater chain's projection infrastructure and premium screensReceived endorsement from ODEON Cinemas Group to bring titles featuring TrueCut Motion's advanced motion grading technology to its premium auditoriumsPost Year-End Transaction OverviewClosed previously proposed sale of Pixelworks' Shanghai semiconductor subsidiary to VeriSilicon in January 2026, adding approximately $51 million to the Company's December 31, 2025, cash balance of $11.2 millionRestructured and streamlined operations and resources following completed sale of the Company's semiconductor subsidiary, focusing the entire organization on its global technology licensing businessAppointed new EVP of Business Development and Board of Directors to better align with the Company's go-forward business strategy"We ended 2025 focused on completing the proposed sale of our Shanghai-based subsidiary, which we successfully closed and repatriated the cash proceeds from in early January," stated Todd DeBonis, Chairman and CEO of Pixelworks. "This transaction fulfilled our core objective of unlocking significant value for shareholders by monetizing a substantial asset, while also meaningfully strengthening the Company's financial position and flexibility. Additionally, our strategic exit from semiconductor hardware fundamentally transforms Pixelworks' go-forward business model into a lean, high margin technology licensing company with significant intellectual property and expertise in visual solutions."With a strong balance sheet, streamlined organization and commitment to prudent resource management, we are well capitalized to execute on our strategy of building Pixelworks into a global technology licensing business – anchored by our commercially proven TrueCut Motion platform – and focused on delivering highly differentiated cinematic and visualization enhancement solutions."As previously announced, on January 6, 2026, the Company completed the transaction to sell its shares in Pixelworks Semiconductor Technology (Shanghai) Co., Ltd., a subsidiary of Pixelworks ("Pixelworks Shanghai"), to a special purpose entity led by VeriSilicon Microelectronics (Shanghai). Following universally adopted resolutions by the Company's board of Directors on December 20, 2025, the Pixelworks Shanghai semiconductor subsidiary met all held-for-sale criteria and the operations of this business were reclassified as discontinued operations. As such, unless otherwise noted, the reported financial results contained in this press release for the Company's fiscal years 2024 and 2025 are presented on a continuing operations basis, excluding the results from discontinued operations.Conference Call InformationPixelworks will host a conference call today, March 12, 2026, at 2:00 p.m. Pacific Time. Analysts and investors are invited to join the Company's conference call using the following information:Fiscal Year 2025 Conference Call
Date: Thursday, March 12, 2026
Time: 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time)
Live Webcast Link: Click Here
Dial-in Participation Registration Link: Click HereAdvanced registration is required for dial-in participants. Please complete the linked registration form above to receive a dial-in number and dedicated PIN for accessing the conference call by phone. A live and archived audio webcast of the conference call will also be accessible via the investors section of Pixelworks' website: www.pixelworks.com.Pixelworks, Inc.Pixelworks is a technology licensing company specializing in cinematic visualization solutions, including industry-leading content creation, delivery and display processing solutions that enable highly authentic viewing experiences with superior visual quality. Pixelworks has more than 20 years of delivering image processing innovation to leading providers of consumer electronics, professional displays and video streaming services. For more information, please visit Pixelworks' web site at www.pixelworks.com.Note: Pixelworks, the Pixelworks logo, Truecut Motion and Truecut are trademarks of Pixelworks, Inc.Safe Harbor StatementThis release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by use of terms such as "begin," "continue," "will," "expect", "believe," "anticipate" and similar terms or the negative of such terms, and include, without limitation, statements regarding the endorsement by Marcus Theaters and ODEON of TrueCut Motion technology and the Company's expectations regarding the use of net proceeds from the sale of its China subsidiary. All statements other than statements of historical fact are forward-looking statements for purposes of this release. Such statements are based on management's current expectations, estimates and projections about the Company's business. These statements are not guarantees of future performance and involve numerous risks, uncertainties and assumptions that are difficult to predict. Actual results could vary materially from those contained in forward looking statements due to many factors, including, without limitation, market and other conditions and other factors described in our other filings with the Securities and Exchange Commission (the "SEC") from time to time. More information regarding potential factors that could affect the Company's financial results and could cause actual results to differ materially from those discussed in the forward-looking statements is included from time to time in the Company's Securities and Exchange Commission filings, including its Annual Report on Form 10-K for the year ended December 31, 2025, as well as subsequent SEC filings.The forward-looking statements contained in this release are as of the date of this release, and the Company does not undertake any obligation to update any such statements, whether as a result of new information, future events or otherwise.[Financial Tables Follow]PIXELWORKS, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data)

Year Ended December 31,
2025
2024Revenue, net$               693
$               690Cost of revenue104
129Gross profit589
561Operating expenses:

Research and development (1)3,695
4,437Selling, general and administrative (2)8,450
8,914Restructuring—
174Total operating expenses12,145
13,525Loss from operations(11,556)
(12,964)Interest income and other, net123
354Gain on sale of patents3,000
—Total other income, net3,123
354Loss before income taxes(8,433)
(12,610)Provision (benefit) for income taxes(184)
44Net loss from continuing operations(8,249)
(12,654)Net loss from discontinued operations, net of income taxes(15,009)
(16,883)Net loss(23,258)
(29,537)Less: Net loss attributable to non-controlling interest and redeemable non-controlling interest 759
818Net loss attributable to Pixelworks, Inc$         (22,499)
$         (28,719)

Net loss from continuing operations per share - basic and diluted$             (1.50)
$             (2.60)Net loss from discontinued operations per share - basic and diluted(2.72)
(3.47)Net loss attributable to shareholders of Pixelworks Inc.$             (4.08)
$             (5.90)

Weighted average shares outstanding - basic and diluted5,512
4,866

(1) Includes stock-based compensation$               421
$               585(2) Includes:

Stock-based compensation1,288
1,222Closing costs associated with sale of PWSH1,012
— PIXELWORKS, INC.CONSOLIDATED BALANCE SHEETS(In thousands, except share data)

December 31,
2025
2024ASSETS

Current assets:

Cash and cash equivalents$          11,243
$            5,482Prepaid expenses and other current assets568
600Current assets held for sale38,422
28,770Total current assets50,233
34,852Property and equipment, net205
348Operating lease right-of-use assets704
1,254Other assets, net121
176Long-term assets held for sale—
27,469Total assets$          51,263
$          64,099LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND
SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable$                 —
$               260Accrued liabilities and current portion of long-term liabilities1,972
2,009Current portion of income taxes payable43
40Current liabilities held for sale18,005
6,037Total current liabilities20,020
8,346Long-term liabilities, net of current portion—
40Operating lease liabilities, net of current portion298
780Income taxes payable, net of current portion508
732Deferred tax liability31
27Long-term liabilities held for sale—
14,296Total liabilities20,857
24,221Redeemable non-controlling interest28,600
27,396Total Pixelworks, Inc. shareholders' deficit(21,092)
(10,568)Non-controlling interest22,898
23,050Total shareholders' equity1,806
12,482Total liabilities, redeemable non-controlling interest and shareholders' equity $          51,263
$          64,099

View original content to download multimedia:https://www.prnewswire.com/news-releases/pixelworks-reports-full-year-2025-financial-results-302712787.htmlSOURCE Pixelworks, Inc.

Original: Pixelworks Reports Full Year 2025 Financial Results