PIXELWORKS, INC.
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| Three Months Ended |
| Six Months Ended | ||||||
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| June 30, |
| March 31, |
| June 30, |
| June 30, |
| June 30, |
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| 2023 |
| 2023 |
| 2022 |
| 2023 |
| 2022 |
Reconciliation of GAAP and non-GAAP gross profit margin |
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GAAP gross profit margin |
| 40.3 % |
| 43.8 % |
| 49.0 % |
| 41.8 % |
| 50.7 % |
Stock-based compensation |
| 0.2 % |
| 0.2 % |
| 0.3 % |
| 0.2 % |
| 0.2 % |
Amortization of acquired intangible assets |
| — % |
| — % |
| — % |
| — % |
| 0.2 % |
Total reconciling items included in gross profit |
| 0.2 % |
| 0.2 % |
| 0.3 % |
| 0.2 % |
| 0.4 % |
Non-GAAP gross profit margin |
| 40.5 % |
| 44.1 % |
| 49.3 % |
| 42.0 % |
| 51.1 % |
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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 | Six Months Ended | |||
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| June 30, | March 31, | June 30, | June 30, | June 30, |
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| 2023 | 2023 | 2022 | 2023 | 2022 |
| Reconciliation of GAAP net loss attributable to Pixelworks Inc. and adjusted EBITDA |
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| GAAP net loss attributable to Pixelworks Inc. | $ (6,037) | $ (9,396) | $ (5,008) | $ (15,433) | $ (9,600) |
| Stock-based compensation | 1,259 | 1,166 | 1,695 | 2,425 | 2,744 |
| Tax effect of non-GAAP adjustments | — | — | (1) | — | (4) |
| Amortization of acquired intangible assets | — | — | — | — | 90 |
| Non-GAAP net loss attributable to Pixelworks Inc. | $ (4,778) | $ (8,230) | $ (3,314) | $ (13,008) | $ (6,770) |
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| EBITDA adjustments: |
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| Depreciation and amortization | $ 1,077 | $ 1,081 | $ 1,126 | $ 2,158 | $ 2,166 |
| Non-GAAP interest income and other, net | (473) | (671) | (101) | (1,144) | (263) |
| Non-GAAP provision (benefit) for income taxes | 126 | 34 | (87) | 160 | 319 |
| Adjusted EBITDA | $ (4,048) | $ (7,786) | $ (2,376) | $ (11,834) | $ (4,548) |
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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. |
