Pixelworks Stock Price, News & Analysis

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.

Pixelworks, Inc. (NASDAQ: PXLW) has appointed Dr. Alan Zhou as Executive Vice President and President of Pixelworks China, enhancing its strategic expansion in Asia. Dr. Zhou brings over 30 years of experience in mobile wireless communications, previously working at Qualcomm and leading significant revenue growth. His focus will be on driving customer engagements and solidifying Pixelworks' technology presence in the China market, particularly in 5G-driven sectors. This leadership change aims to capitalize on growth opportunities in advanced imaging technologies across Asia.

On October 19, 2020, Pixelworks (NASDAQ: PXLW) entered a Securities Purchase Agreement with MTM-Xinhe Investment Limited, a consortium of Chinese investors. The deal involves the issuance of 3.2 million shares, equating to 7% of outstanding shares, for approximately $6.6 million. This investment underscores Pixelworks' efforts to expand in China and leverage local relationships. CEO Todd DeBonis highlighted this move as validation of their technology's potential in the Chinese market. The transaction is expected to close in November 2020.

Pixelworks, Inc. (NASDAQ: PXLW) will announce its third quarter 2020 financial results on October 29, 2020, after market close. A conference call hosted by Todd DeBonis, President and CEO, and Elias Nader, CFO, will take place at 2:00 p.m. PT. Investors can join the call by dialing 1-877-359-9508 or +1-224-357-2393 for international calls, using Conference ID 5276154. The call will also be available via live audio webcast on the company's website.