Pixelworks Q3 revenue $16.0M, up 18% sequentially; net loss widens to $7.0M

PIXELWORKS, INC

2023-Q3 EPS reported -$0.40 revenue$39,603,000

Revenue $16.0M, +18% QoQ; gross margin 42.9% (+260 bps QoQ). Mobile revenue record 52% of total, up 37% YoY.
GAAP net loss $7.0M ($0.12/share) vs $4.5M loss ($0.08) year ago. Non-GAAP net loss $5.7M ($0.10/share).
Adj. EBITDA negative $5.0M; cash $50.3M at quarter-end.
Q4 guidance: anticipates 25% sequential revenue growth at midpoint.
Launched X7 Gen 2 mobile visual processor with AI super-resolution; first customer phone expected early 2024.

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