Pixelworks Financials
This page shows Pixelworks (PXLW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Pixelworks has an operating margin of -1667.5%, meaning the company retains $-1668 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -1878.8% the prior year.
Pixelworks's revenue grew a modest 0.4% year-over-year to $693K. This slow but positive growth earns a score of 34/100.
Pixelworks's current ratio of 2.51 indicates adequate short-term liquidity, earning a score of 47/100. The company can meet its near-term obligations, though with limited headroom.
While Pixelworks generated -$20.6M in operating cash flow, capex of $448K consumed most of it, leaving -$21.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Pixelworks passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Pixelworks generates $0.92 in operating cash flow (-$20.6M OCF vs -$22.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Pixelworks generated $693K in revenue in fiscal year 2025. This represents an increase of 0.4% from the prior year.
Pixelworks's EBITDA was -$9.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.4% from the prior year.
Pixelworks reported -$22.5M in net income in fiscal year 2025. This represents an increase of 21.7% from the prior year.
Pixelworks earned $-4.08 per diluted share (EPS) in fiscal year 2025. This represents an increase of 30.8% from the prior year.
Cash & Balance Sheet
Pixelworks generated -$21.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 10.7% from the prior year.
Pixelworks held $11.2M in cash against $0 in long-term debt as of fiscal year 2025.
Pixelworks had 6M shares outstanding in fiscal year 2025. This represents an increase of 27.3% from the prior year.
Margins & Returns
Pixelworks's gross margin was 85.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.7 percentage points from the prior year.
Pixelworks's operating margin was -1667.5% in fiscal year 2025, reflecting core business profitability. This is up 211.3 percentage points from the prior year.
Pixelworks's net profit margin was -3246.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 915.6 percentage points from the prior year.
Capital Allocation
Pixelworks invested $3.7M in research and development in fiscal year 2025. This represents a decrease of 16.7% from the prior year.
Pixelworks invested $448K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 88.1% from the prior year.
PXLW Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $8.8M+6.3% | $8.3M+16.3% | $7.1M | N/A | $9.5M+11.6% | $8.5M-46.8% | $16.1M |
| Cost of Revenue | N/A | $4.4M-1.6% | $4.5M+22.8% | $3.6M | N/A | $4.6M+10.4% | $4.2M-47.0% | $7.9M |
| Gross Profit | N/A | $4.4M+15.7% | $3.8M+9.5% | $3.5M | N/A | $4.9M+12.8% | $4.3M-46.7% | $8.1M |
| R&D Expenses | N/A | $5.7M-4.6% | $6.0M-8.0% | $6.5M | N/A | $8.4M+5.8% | $7.9M-1.6% | $8.1M |
| SG&A Expenses | N/A | $4.3M-3.8% | $4.4M-4.1% | $4.6M | N/A | $5.0M-12.3% | $5.7M+3.4% | $5.5M |
| Operating Income | N/A | -$5.6M+23.0% | -$7.3M+9.8% | -$8.1M | N/A | -$8.6M+19.6% | -$10.7M-95.6% | -$5.5M |
| Interest Expense | N/A | -$25K-150.0% | -$10K+16.7% | -$12K | N/A | -$7K+68.2% | -$22K+12.0% | -$25K |
| Income Tax | N/A | -$511K-204.1% | $491K+1344.1% | $34K | N/A | $125K+290.6% | $32K-69.5% | $105K |
| Net Income | N/A | -$4.4M+33.9% | -$6.7M+13.6% | -$7.8M | N/A | -$8.1M+19.8% | -$10.1M-100.3% | -$5.1M |
| EPS (Diluted) | N/A | $-0.81+36.2% | $-1.27 | $-0.13 | N/A | $-1.66+20.6% | $-2.09-2222.2% | $-0.09 |
PXLW Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $51.3M+1.5% | $50.5M-2.5% | $51.8M-11.4% | $58.5M-8.8% | $64.1M-9.9% | $71.1M-12.9% | $81.6M-11.1% | $91.8M |
| Current Assets | $50.2M+98.3% | $25.3M-1.0% | $25.6M-16.4% | $30.6M-12.2% | $34.9M-12.3% | $39.7M-20.5% | $50.0M-15.3% | $59.0M |
| Cash & Equivalents | $11.2M-23.1% | $14.6M+2.5% | $14.3M-23.0% | $18.5M+237.5% | $5.5M-81.0% | $28.8M-23.8% | $37.8M-18.1% | $46.2M |
| Inventory | N/A | $3.1M-22.9% | $4.1M-18.4% | $5.0M+18.9% | $4.2M-4.3% | $4.4M-12.4% | $5.0M+49.6% | $3.4M |
| Accounts Receivable | N/A | $5.7M+12.2% | $5.1M-5.7% | $5.4M-7.5% | $5.8M+29.1% | $4.5M-8.4% | $4.9M-33.2% | $7.3M |
| Goodwill | N/A | $18.4M0.0% | $18.4M0.0% | $18.4M0.0% | $18.4M0.0% | $18.4M0.0% | $18.4M0.0% | $18.4M |
| Total Liabilities | $72.4M-2.8% | $74.5M+0.3% | $74.2M-0.3% | $74.4M-0.3% | $74.7M-5.7% | $79.2M-2.5% | $81.1M-1.5% | $82.4M |
| Current Liabilities | $20.0M+105.0% | $9.8M+6.9% | $9.1M+3.5% | $8.8M+5.8% | $8.3M-15.7% | $9.9M-16.6% | $11.9M-3.9% | $12.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$21.1M+11.9% | -$23.9M-6.7% | -$22.4M-40.4% | -$16.0M-51.2% | -$10.6M-31.6% | -$8.0M-1752.1% | $486K-94.9% | $9.4M |
| Retained Earnings | -$528.4M-0.7% | -$524.8M-0.9% | -$520.3M-1.3% | -$513.6M-1.5% | -$505.9M-1.1% | -$500.5M-1.7% | -$492.4M-2.1% | -$482.2M |
PXLW Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.5M-126.5% | -$2.9M+37.2% | -$4.6M+32.2% | -$6.7M-19.9% | -$5.6M+28.3% | -$7.8M-40.1% | -$5.6M-584.3% | -$815K |
| Capital Expenditures | $45K-72.4% | $163K-26.9% | $223K+1211.8% | $17K-85.0% | $113K-85.5% | $781K-68.5% | $2.5M+542.5% | $386K |
| Free Cash Flow | -$6.5M-115.8% | -$3.0M+36.7% | -$4.8M+29.1% | -$6.7M-17.8% | -$5.7M+33.5% | -$8.6M-6.7% | -$8.1M-570.9% | -$1.2M |
| Investing Cash Flow | $3.0M+1912.9% | -$163K-130.7% | $531K+3223.5% | -$17K-103.2% | $528K+167.6% | -$781K+68.5% | -$2.5M-542.5% | -$386K |
| Financing Cash Flow | $7.0M+106.5% | $3.4M+1582.0% | -$228K-114.3% | $1.6M+1545.5% | -$110K+72.4% | -$399K-27.9% | -$312K-108.0% | -$150K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PXLW Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 49.8%+4.0pp | 45.8%-2.8pp | 48.7% | N/A | 51.2%+0.5pp | 50.7%+0.2pp | 50.5% |
| Operating Margin | N/A | -64.1%+24.4pp | -88.5%+25.6pp | -114.1% | N/A | -90.6%+35.2pp | -125.9%-91.6pp | -34.2% |
| Net Margin | N/A | -50.5%+30.8pp | -81.3%+28.1pp | -109.4% | N/A | -85.5%+33.5pp | -118.9%-87.4pp | -31.6% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | -2088.3%-2034.7pp | -53.6% |
| Return on Assets | N/A | -8.8%+4.2pp | -13.0%+0.3pp | -13.3% | N/A | -11.5%+1.0pp | -12.4%-6.9pp | -5.5% |
| Current Ratio | 2.51-0.1 | 2.59-0.2 | 2.80-0.7 | 3.46-0.7 | 4.18+0.2 | 4.02-0.2 | 4.21-0.6 | 4.78 |
| Debt-to-Equity | -3.43-0.3 | -3.11+0.2 | -3.31+1.4 | -4.66+2.4 | -7.07+2.8 | -9.86-176.8 | 166.97+158.3 | 8.72 |
| FCF Margin | N/A | -34.5%+23.4pp | -57.9%+37.0pp | -94.9% | N/A | -90.2%+4.2pp | -94.4%-86.9pp | -7.5% |
Note: Shareholder equity is negative (-$21.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is Pixelworks's annual revenue?
Pixelworks (PXLW) reported $693K in total revenue for fiscal year 2025. This represents a 0.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pixelworks's revenue growing?
Pixelworks (PXLW) revenue grew by 0.4% year-over-year, from $690K to $693K in fiscal year 2025.
Is Pixelworks profitable?
No, Pixelworks (PXLW) reported a net income of -$22.5M in fiscal year 2025, with a net profit margin of -3246.6%.
What is Pixelworks's EBITDA?
Pixelworks (PXLW) had EBITDA of -$9.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Pixelworks's gross margin?
Pixelworks (PXLW) had a gross margin of 85.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pixelworks's operating margin?
Pixelworks (PXLW) had an operating margin of -1667.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Pixelworks's net profit margin?
Pixelworks (PXLW) had a net profit margin of -3246.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Pixelworks's free cash flow?
Pixelworks (PXLW) generated -$21.1M in free cash flow during fiscal year 2025. This represents a 10.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pixelworks's operating cash flow?
Pixelworks (PXLW) generated -$20.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Pixelworks's total assets?
Pixelworks (PXLW) had $51.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pixelworks's capital expenditures?
Pixelworks (PXLW) invested $448K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Pixelworks spend on research and development?
Pixelworks (PXLW) invested $3.7M in research and development during fiscal year 2025.
What is Pixelworks's current ratio?
Pixelworks (PXLW) had a current ratio of 2.51 as of fiscal year 2025, which is generally considered healthy.
What is Pixelworks's debt-to-equity ratio?
Pixelworks (PXLW) had a debt-to-equity ratio of -3.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pixelworks's return on assets (ROA)?
Pixelworks (PXLW) had a return on assets of -43.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pixelworks's cash runway?
Based on fiscal year 2025 data, Pixelworks (PXLW) had $11.2M in cash against an annual operating cash burn of $20.6M. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Pixelworks's debt-to-equity ratio negative or unusual?
Pixelworks (PXLW) has negative shareholder equity of -$21.1M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Pixelworks's Piotroski F-Score?
Pixelworks (PXLW) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pixelworks's earnings high quality?
Pixelworks (PXLW) has an earnings quality ratio of 0.92x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Pixelworks?
Pixelworks (PXLW) scores 20 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.