Pixelworks Financials
Pixelworks (PXLW) reported $693K in revenue for fiscal year 2025, up 0.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
The dominant mechanic is operating cash consumption alongside asset-base erosion, while liabilities remain elevated relative to shrinking assets.
From FY2023 to FY2025, total assets fell46.6% while total liabilities fell only13.3% , leaving equity negative in FY2025. This pairing means the balance-sheet cushion disappeared faster than obligations did, making weaker solvency capacity the central change rather than simply a smaller operating footprint.
FY2025 capital expenditures were only
External financing contributed
Financial Health Signals
Pixelworks does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Pixelworks scores -14.11, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($41.9M) relative to total liabilities ($72.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Pixelworks passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Pixelworks reported a net loss of $22.5M while operations used $20.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
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.
Cash & Balance Sheet
Pixelworks recorded an outflow of $21.1M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 10.7% from the prior year.
Pixelworks held $11.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
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.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
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.
Not reported for fiscal year 2025.
PXLW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $64K-85.7% | $446K | N/A | $8.8M+5416.4% | $159K-97.8% | $7.1M | N/A | $9.5M |
| Cost of Revenue | $25K-87.0% | $193K | N/A | $4.4M+9465.2% | $46K+475.0% | $8K | N/A | $4.6M |
| Gross Profit | $39K-84.6% | $253K | N/A | $4.4M+3768.1% | $113K-98.4% | $7.1M | N/A | $4.9M |
| R&D Expenses | $1.2M+23.8% | $965K | N/A | $5.7M+538.4% | $896K-7.7% | $971K | N/A | $8.4M |
| SG&A Expenses | $2.1M-4.0% | $2.2M | N/A | $4.3M+147.3% | $1.7M-18.3% | $2.1M | N/A | $5.0M |
| Operating Income | -$3.4M+31.5% | -$4.9M | N/A | -$5.6M-123.9% | -$2.5M+18.8% | -$3.1M | N/A | -$8.6M |
| Interest Expense | N/A | N/A | N/A | -$25K-150.0% | -$10K+16.7% | -$12K | N/A | -$7K |
| Income Tax | $10K+145.5% | -$22K | N/A | -$511K-632.3% | $96K+140.0% | -$240K | N/A | $125K |
| Net Income | -$2.8M-103.5% | $80.6M | N/A | -$4.4M+33.9% | -$6.7M+13.6% | -$7.8M | N/A | -$8.1M |
| EPS (Diluted) | -$0.44-103.5% | $12.46+2642.9% | -$0.49+39.5% | -$0.81+36.2% | -$1.27+17.5% | -$1.54-42.6% | -$1.08+34.9% | -$1.66 |
PXLW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $54.1M-9.8% | $60.0M+17.0% | $51.3M+1.5% | $50.5M-2.5% | $51.8M-11.4% | $58.5M-8.8% | $64.1M-9.9% | $71.1M |
| Current Assets | $53.4M-9.7% | $59.2M+17.8% | $50.2M+98.3% | $25.3M-1.0% | $25.6M-16.4% | $30.6M-12.2% | $34.9M-12.3% | $39.7M |
| Cash & Equivalents | $52.9M-8.5% | $57.8M+414.3% | $11.2M-23.1% | $14.6M+2.5% | $14.3M-23.0% | $18.5M+237.5% | $5.5M-81.0% | $28.8M |
| Inventory | N/A | N/A | N/A | $3.1M-22.9% | $4.1M-18.4% | $5.0M+18.9% | $4.2M-4.3% | $4.4M |
| Accounts Receivable | N/A | N/A | N/A | $5.7M+12.2% | $5.1M-5.7% | $5.4M-7.5% | $5.8M+29.1% | $4.5M |
| Goodwill | N/A | N/A | N/A | $18.4M0.0% | $18.4M0.0% | $18.4M0.0% | $18.4M0.0% | $18.4M |
| Total Liabilities | $2.1M-23.2% | $2.8M-96.2% | $72.4M-2.8% | $74.5M+0.3% | $74.2M-0.3% | $74.4M-0.3% | $74.7M-5.7% | $79.2M |
| Current Liabilities | $1.5M-28.4% | $2.1M-89.5% | $20.0M+105.0% | $9.8M+6.9% | $9.1M+3.5% | $8.8M+5.8% | $8.3M-15.7% | $9.9M |
| Total Equity | $52.0M-9.2% | $57.2M+371.3% | -$21.1M+11.9% | -$23.9M-6.7% | -$22.4M-40.4% | -$16.0M-51.2% | -$10.6M-31.6% | -$8.0M |
| Retained Earnings | -$450.6M-0.6% | -$447.8M+15.3% | -$528.4M-0.7% | -$524.8M-0.9% | -$520.3M-1.3% | -$513.6M-1.5% | -$505.9M-1.1% | -$500.5M |
Not reported in any period shown, so not listed: Long-Term Debt.
PXLW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.7M+62.6% | -$4.6M+29.3% | -$6.5M-126.5% | -$2.9M+37.2% | -$4.6M+32.2% | -$6.7M-19.9% | -$5.6M+28.3% | -$7.8M |
| Capital Expenditures | $29K-72.4% | $105K+133.3% | $45K-72.4% | $163K-26.9% | $223K+1211.8% | $17K-85.0% | $113K-85.5% | $781K |
| Free Cash Flow | -$1.7M+62.9% | -$4.7M+28.1% | -$6.5M-115.8% | -$3.0M+36.7% | -$4.8M+29.1% | -$6.7M-17.8% | -$5.7M+33.5% | -$8.6M |
| Investing Cash Flow | -$29K-100.1% | $44.3M+1400.2% | $3.0M+1912.9% | -$163K-130.7% | $531K+3223.5% | -$17K-103.2% | $528K+167.6% | -$781K |
| Financing Cash Flow | -$3.2M-63940.0% | $5K-99.9% | $7.0M+106.5% | $3.4M+1582.0% | -$228K-114.3% | $1.6M+1545.5% | -$110K+72.4% | -$399K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
PXLW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.9%+4.2pp | 56.7% | N/A | 49.8%-21.2pp | 71.1%-28.8pp | 99.9% | N/A | 51.2% |
| Operating Margin | -5256.3% | -1100.9% | N/A | -64.1% | -1579.3% | -43.6% | N/A | -90.6% |
| Net Margin | -4368.8% | 18068.2% | N/A | -50.5% | -4218.2% | -109.4% | N/A | -85.5% |
| Return on Equity | -5.4%-146.2pp | 140.8% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -5.2%-139.5pp | 134.3% | N/A | -8.8%+4.2pp | -13.0%+0.3pp | -13.3% | N/A | -11.5% |
| Current Ratio | 35.56+7.4x | 28.21+25.7x | 2.51-0.1x | 2.59-0.2x | 2.80-0.7x | 3.46-0.7x | 4.18+0.2x | 4.02 |
| Debt-to-Equity | 0.040.0x | 0.05 | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Margin | -2720.3% | -1051.1% | N/A | -34.5% | -3003.1% | -94.9% | N/A | -90.2% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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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Where Pixelworks Ranks
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.
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 free cash flow?
Pixelworks (PXLW) recorded an outflow of $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) recorded an outflow of $20.6M in operating cash flow during fiscal year 2025, representing cash used by 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 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.
How does Pixelworks's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Pixelworks (PXLW) held $11.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $20.6M over that year. Dividing the one by the other, the reported balance equals about 7 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Pixelworks's debt-to-equity ratio negative or not reported?
Pixelworks (PXLW) has negative shareholder equity of -$21.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Altman Z-Score?
Pixelworks (PXLW) has an Altman Z-Score of -14.11, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Pixelworks's Piotroski F-Score?
Pixelworks (PXLW) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pixelworks's earnings high quality?
Pixelworks (PXLW) reported a net loss of $22.5M while operations used $20.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.