Pixelworks Reports Third Quarter 2020 Financial Results

PIXELWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
 
  September 30, December 31,
  2020 2019
ASSETS  
Current assets:  
Cash and cash equivalents$16,062 $7,257 
Short-term marketable securities 735  6,975 
Accounts receivable, net 5,417  10,915 
Inventories 3,895  5,401 
Prepaid expenses and other current assets 1,685  1,689 
Total current assets 27,794  32,237 
Property and equipment, net 5,631  4,608 
Operating lease right of use assets 6,943  5,434 
Other assets, net 1,187  1,267 
Acquired intangible assets, net 1,581     2,704  
Goodwill   18,407     18,407  
Total assets $ 61,543   $ 64,657  
     
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Current liabilities:    
Accounts payable $ 687   $ 818  
Accrued liabilities and current portion of long-term liabilities   9,649     8,692  
Short-term line of credit   3,954     -  
Current portion of income taxes payable   5     164  
Total current liabilities   14,295     9,674  
Long-term liabilities, net of current portion   1,982     982  
Operating lease liabilities, net of current portion   5,304     4,212  
Income taxes payable, net of current portion   2,368     2,260  
Total liabilities   23,949     17,128  
Shareholders’ equity   37,594     47,529  
Total liabilities and shareholders’ equity $ 61,543   $ 64,657  
     

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