Pixelworks Q2 revenue $13.6M (+37% QoQ); mobile revenue doubles to 50% of total

PIXELWORKS, INC

2023-Q2 EPS reported -$0.28 revenue$23,571,000

Revenue $13.6M, up 37% sequentially; GAAP net loss ($0.11)/share improved from ($0.17) in Q1.
Mobile revenue grew 109% QoQ to record 50% of total; fourth tier-one mobile customer began ramping.
GAAP gross margin 40.3% vs 43.8% Q1; non-GAAP net loss ($4.8M); adjusted EBITDA negative $4.0M.
Launched IRX Gaming Experience brand; Xiaomi Redmi K60 Ultra & OnePlus Ace2 Pro announced with X7 processor.
Retained CITIC Securities for planned STAR listing of Shanghai subsidiary; Q3 guide sees sequential growth.

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