Pixelworks - PXLW STOCK NEWS

Pixelworks, Inc. (NASDAQ: PXLW) announced its participation in two upcoming virtual financial conferences. The Loop Capital Markets Consumer, Industrials and TMT Conference will take place on March 11, 2021, followed by the 33rd Annual ROTH Conference on March 16, 2021. Portfolio managers and analysts are invited to schedule meetings with Pixelworks management through their sales representatives at the hosting firms.

With over 20 years in the industry, Pixelworks specializes in video delivery and display processing solutions, offering superior viewing experiences.

Pixelworks, Inc. (NASDAQ: PXLW) reported Q4 2020 revenue of $9.6 million, an 18% increase sequentially but a drop from $16.0 million in Q4 2019. Mobile revenue surged 49% sequentially. The company closed a private placement and public offering, raising $18.9 million, ending the quarter with $31.5 million in cash and no long-term debt. The GAAP net loss was $6.4 million or ($0.15) per share, compared to a loss of $4.5 million in Q4 2019. Pixelworks anticipates doubling mobile model launches in 2021 amid improving demand.

Pixelworks, Inc. (NASDAQ: PXLW) will announce its fourth quarter and fiscal 2020 financial results on February 11, 2021, after market close. A conference call will be hosted by Todd DeBonis, President and CEO, and Elias Nader, CFO, at 2:00 p.m. Pacific Time. Investors can join the call by dialing 1-877-359-9508 or +1-224-357-2393 for international access, with Conference ID 5357438. The call will also be available via a live audio webcast on the company's website.

Pixelworks (NASDAQ: PXLW) announced a multi-year collaboration with TCL to enhance display technology in future smartphone models. This partnership aims to utilize Pixelworks' video processing solutions, including advancements in HDR conversion and AI features, to improve the NXTVISION displays.

Following a DXOMARK report, the TCL 10 Pro with Pixelworks technology outperformed competitors in video quality. Initial smartphone models from this collaboration are expected to launch in the first half of 2021, highlighting TCL's commitment to leading display innovation.

Pixelworks announced the successful closing of its public offering of 4,900,000 shares of common stock at a price of $2.45 per share on December 14, 2020. The gross proceeds from this offering reached approximately $12.0 million before deducting underwriting discounts and expenses. The offering was managed by Roth Capital Partners and Craig-Hallum Capital Group, utilizing a previously filed SEC registration statement. This transaction aims to strengthen Pixelworks' financial position and support its growth initiatives.

Pixelworks, Inc. (Nasdaq: PXLW) announced a public offering of 4,900,000 shares of common stock priced at $2.45 per share, aiming to raise approximately $12.0 million before deductions. The offering is set to close around December 14, 2020, pending customary conditions. Roth Capital Partners and Craig-Hallum Capital Group are managing the offering, which includes a 30-day option for underwriters to buy an additional 735,000 shares. A shelf registration statement was effective on November 16, 2020.

Pixelworks (Nasdaq: PXLW) announced a planned public offering of common stock, with all shares offered by the company. The offering is subject to market conditions, and specifics on terms and size are not yet confirmed. Roth Capital Partners and Craig-Hallum Capital are the joint book-running managers. A shelf registration statement was filed with the SEC and became effective on November 16, 2020. This press release does not constitute an offer to sell or solicit an offer to buy securities in jurisdictions where it would be illegal.

Pixelworks (NASDAQ: PXLW) will participate in two upcoming financial conferences, held virtually. The first is the ROTH Technology Virtual Event on November 11-12, 2020, followed by the Craig-Hallum Alpha-Select Conference on November 17, 2020. Portfolio managers and analysts can schedule one-on-one meetings with management through their sales representatives at the respective firms. Pixelworks specializes in video and display processing solutions, enhancing viewing experiences across various screens.

Pixelworks, Inc. (PXLW) reported Q3 2020 revenue of $8.2 million, down from $9.3 million in Q2 and $18.1 million YoY. Mobile revenue surged over 230% sequentially, benefiting from new smartphone launches. GAAP gross margin was 48.5%, and non-GAAP gross margin was 55.6%. Despite these gains, the company faced a GAAP net loss of $8.1 million ($0.20/share), worsening from $6.6 million in Q2. Cash reserves decreased to $16.8 million, with an additional $6.6 million expected from a private placement. CEO noted challenges in the projector market, but optimism for mobile growth remains.