PIXELWORKS, INC.
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| Three Months Ended |
| Nine Months Ended | ||||||
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| September 30, |
| June 30, |
| September 30, |
| September 30, |
| September 30, |
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| 2021 |
| 2021 |
| 2020 |
| 2021 |
| 2020 |
Reconciliation of GAAP and non-GAAP gross profit margin |
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GAAP gross profit margin |
| 52.5 % |
| 50.6 % |
| 48.5 % |
| 48.9 % |
| 50.6 % |
Amortization of acquired intangible assets |
| 1.4 % |
| 1.6 % |
| 3.6 % |
| 1.8 % |
| 2.9 % |
Stock-based compensation |
| (0.9)% |
| 0.5 % |
| 1.4 % |
| - % |
| 1.1 % |
Restructuring |
| - % |
| - % |
| 2.0 % |
| - % |
| 0.5 % |
Total reconciling items included in gross profit |
| 0.5 % |
| 2.1 % |
| 7.1 % |
| 1.8 % |
| 4.5 % |
Non-GAAP gross profit margin |
| 53.1 % |
| 52.7 % |
| 55.6 % |
| 50.7 % |
| 55.1 % |
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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.
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PIXELWORKS, INC.
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| Three Months Ended | Nine Months Ended | |||
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| September 30, | June 30, | September 30, | September 30, | September 30, |
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| 2021 | 2021 | 2020 | 2021 | 2020 |
| Reconciliation of GAAP net loss attributable to Pixelworks Inc. and
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| GAAP net loss attributable to Pixelworks Inc. | $ (4,073) | $ (4,382) | $ (8,139) | $ (16,530) | $ (20,090) |
| Stock-based compensation | 1,557 | 1,506 | 1,850 | 4,495 | 5,915 |
| Amortization of acquired intangible assets | 271 | 271 | 374 | 847 | 1,122 |
| Impact of non-GAAP adjustments to redeemable non-controlling interest | (9) | - | - | (9) | - |
| Tax effect of non-GAAP adjustments | 7 | 4 | (137) | (9) | (144) |
| Restructuring | - | - | 1,596 | - | 2,188 |
| Non-GAAP net loss attributable to Pixelworks Inc. | $ (2,247) | $ (2,601) | $ (4,456) | $ (11,206) | $ (11,009) |
| EBITDA adjustments: |
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| Depreciation and amortization | $ 762 | $ 906 | $ 861 | $ 2,684 | $ 2,754 |
| Non-GAAP interest expense (income) and other, net | (54) | (181) | 28 | (292) | (2) |
| Non-GAAP provision (benefit) for income taxes | (16) | 103 | 111 | 324 | 401 |
| Adjusted EBITDA | $ (1,555) | $ (1,773) | $ (3,456) | $ (8,490) | $ (7,856) |
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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.
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