Welcome to our dedicated page for Pixelworks news (Ticker: PXLW), a resource for investors and traders seeking the latest updates and insights on Pixelworks stock.
Pixelworks develops and licenses cinematic visualization technology for content creation, delivery and display processing. Its news centers on the TrueCut Motion platform, a motion-grading system that lets filmmakers manage judder, motion blur and frame rates shot by shot while preserving a consistent cinematic look across theaters and other screens.
Company updates also cover exhibitor endorsements, premium-format movie deployments, studio and theater relationships, quarterly and annual financial results, share repurchase authorization, and business-development leadership tied to its licensing strategy.
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.
Pixelworks, Inc. (NASDAQ: PXLW) has partnered with OnePlus to integrate its advanced display technology into the new OnePlus 8T smartphone. This device features a 120 Hz AMOLED display with innovative technologies such as high-efficiency color calibration and adaptive brightness. The OnePlus 8T is expected to enhance user experience through features that improve color accuracy and reduce eye strain. Following the success of the OnePlus 8 Pro, which set display benchmarks, the OnePlus 8T aims to further establish OnePlus's leadership in smartphone visual quality. The phone's availability is anticipated in Q4 2020.
Pixelworks (NASDAQ: PXLW) announced its video processing technology powers SLING TV's AirTV Anywhere device, set to revolutionize local HD channel streaming. The device boasts a 1 TB hard drive with DVR capabilities, allowing integration of over-the-air (OTA) channels into a single user interface. It streams local channels to up to four devices and features the Pixelworks XCode 5116 processor for superior video quality. This collaboration simplifies the transition for consumers aiming to cut cable costs, highlighting significant potential savings.
Pixelworks, Inc. (NASDAQ: PXLW) has launched its sixth-generation mobile visual processor, the Pixelworks i6, featuring low-power AI technology. This industry-first processor enhances picture quality in varying mobile conditions by optimizing contrast, brightness, and color temperature. It supports patented color calibration and HDR technology with 40% lower power consumption than its predecessor. The i6 Pro offers advanced optimization for high refresh rates. The new processor is currently sampling to customers, with commercial production expected in Q4 2020.
Pixelworks, Inc. (NASDAQ: PXLW) announced that its display processing technology powers the new ASUS ZenFone 7 series, enhancing on-screen entertainment with HDR certification. The phone features superior color accuracy, DC dimming for reduced flicker, and supports a 90 Hz OLED display. Pixelworks' patented technology optimizes battery usage while ensuring a vibrant viewing experience, making it ideal for streaming services like Netflix and YouTube. The ZenFone 7 series launched on August 26, 2020, and will be available in Q3 2020, showcasing Pixelworks' commitment to innovation in visual processing.
On July 31, 2020, Pixelworks (NASDAQ: PXLW) announced its collaboration with Black Shark to integrate its fifth generation visual processor into the Tencent Black Shark 3S gaming smartphone. This partnership enhances the device's display capabilities, supporting features like MotionEngine technology, Always-HDR mode, and auto-adaptive display technology. The smartphone boasts a 120 Hz refresh rate on a 6.67-inch AMOLED screen, providing an immersive gaming experience. The Tencent Black Shark 3S is set to be commercially available in Q3 2020.