secwatch.observer — SEC 8-K summary
======================================

Issuer:     PIXELWORKS, INC (PXLW)
CIK:        0001040161
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001040161-23-000020
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pixelworks Q1 revenue $10M, GAAP net loss $9.4M (-$0.17); guides mobile recovery in Q2
--------------------------------------------------------------------------------

- Revenue $10.0M, down from $16.9M Q4'22 and $16.6M Q1'22; GAAP gross margin 43.8% vs 53.1%.
- GAAP net loss $9.4M (-$0.17) vs Q4'22 loss $1.9M (-$0.04) and Q1'22 loss $4.6M (-$0.09).
- Non-GAAP net loss $8.2M (-$0.15) vs Q4'22 loss $0.8M (-$0.01) and Q1'22 loss $3.5M (-$0.06).
- Cash $62.8M, up from $56.8M Q4'22; includes $14.6M net proceeds from Shanghai subsidiary investment.
- Management says Q1 was cyclical bottom; expects strong mobile revenue growth in Q2 and fourth tier-one customer design-in.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1040161/000104016123000020/0001040161-23-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1040161/000104016123000020/pxlw-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001040161-23-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer