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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| 2022 |
| 2022 |
| 2021 |
| 2022 |
| 2021 |
Reconciliation of GAAP and non-GAAP gross profit margin |
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GAAP gross profit margin |
| 50.1 % |
| 49.0 % |
| 52.5 % |
| 50.5 % |
| 48.9 % |
Stock-based compensation |
| (0.3) % |
| 0.3 % |
| (0.9) % |
| 0.0 % |
| 0.0 % |
Amortization of acquired intangible assets |
| — % |
| — % |
| 1.4 % |
| 0.1 % |
| 1.8 % |
Total reconciling items included in gross profit |
| (0.3) % |
| 0.3 % |
| 0.5 % |
| 0.2 % |
| 1.8 % |
Non-GAAP gross profit margin |
| 49.8 % |
| 49.3 % |
| 53.1 % |
| 50.7 % |
| 50.7 % |
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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. | ||||||||||
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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| 2022 | 2022 | 2021 | 2022 | 2021 |
| Reconciliation of GAAP net loss attributable to Pixelworks Inc. and adjusted EBITDA |
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| GAAP net loss attributable to Pixelworks Inc. | $ (4,496) | $ (5,008) | $ (4,073) | $ (14,096) | $ (16,530) |
| Stock-based compensation | 1,294 | 1,695 | 1,557 | 4,038 | 4,495 |
| Tax effect of non-GAAP adjustments | 1 | (1) | 7 | (3) | (9) |
| Amortization of acquired intangible assets | — | — | 271 | 90 | 847 |
| Impact of non-GAAP adjustments to redeemable non-controlling interest | — | — | (9) | — | (9) |
| Non-GAAP net loss attributable to Pixelworks Inc. | $ (3,201) | $ (3,314) | $ (2,247) | $ (9,971) | $ (11,206) |
| EBITDA adjustments: |
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| Depreciation and amortization | $ 1,324 | $ 1,126 | $ 762 | $ 3,490 | $ 2,684 |
| Non-GAAP interest income and other, net | (165) | (101) | (54) | (428) | (292) |
| Non-GAAP provision (benefit) for income taxes | (71) | (87) | (16) | 248 | 324 |
| Adjusted EBITDA | $ (2,113) | $ (2,376) | $ (1,555) | $ (6,661) | $ (8,490) |
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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. | |||||
