Pixelworks Reports First Quarter 2024 Financial Results

 

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



Three Months Ended




March 31,


December 31,


March 31,




2024


2023


2023


Reconciliation of GAAP and non-GAAP gross profit margin








GAAP gross profit margin


50.5 %


44.7 %


43.8 %


Stock-based compensation


0.1 %


0.1 %


0.2 %


Total reconciling items included in gross profit


0.1 %


0.1 %


0.2 %


Non-GAAP gross profit margin


50.7 %


44.8 %


44.1 %










*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


March 31,

December 31,

March 31,


2024

2023

2023

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




GAAP net loss attributable to Pixelworks Inc.

$            (5,066)

$            (3,744)

$            (9,396)

Stock-based compensation

1,075

1,119

1,166

Non-GAAP net loss attributable to Pixelworks Inc.

$            (3,991)

$            (2,625)

$            (8,230)

EBITDA adjustments:




Depreciation and amortization

$              1,109

$              1,076

$              1,081

Non-GAAP interest income and other, net

(434)

(435)

(671)

Non-GAAP provision for income taxes

105

39

34

Adjusted EBITDA

$            (3,211)

$            (1,945)

$            (7,786)





*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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