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 announced that DreamWorks Animation's 'The Wild Robot' will be released with TrueCut Motion™ technology on premium screens worldwide. This advanced motion grading technology enhances motion clarity, ensuring that important details are not lost during subtle movements or fast action scenes. The Pixelworks team worked closely with filmmakers to optimize the visual experience.
TrueCut Motion is an award-winning technology that provides filmmakers with new motion look options. It allows for fine-tuning of motion in post-production while maintaining the intended cinematic feel. The platform ensures consistent delivery across various screens and devices, including theaters, televisions, mobile devices, and next-generation headsets, in both 3D and 2D environments.
Universal Pictures and Pixelworks have entered into a multi-year, multi-title agreement to implement TrueCut Motion technology in major film releases. The collaboration begins with DreamWorks Animation's "The Wild Robot", set to premiere on September 27, 2024. TrueCut Motion is an advanced motion grading technology that allows filmmakers to enhance and fine-tune motion in post-production while maintaining the intended cinematic look.
This award-winning technology provides a new palette of motion looks, optimizing the viewing experience across various screens and devices, including theaters, televisions, mobile devices, and next-generation headsets. The technology supports both 3D and standard 2D environments, ensuring consistent delivery of creative choices across all platforms.
Pixelworks (NASDAQ: PXLW) reported Q2 2024 financial results with revenue of $8.5 million, down from $16.1 million in Q1 2024 and $13.6 million in Q2 2023. The company recorded a GAAP net loss of $10.1 million, or ($0.17) per share. Non-GAAP net loss was $7.7 million, or ($0.13) per share. Gross profit margin improved to 50.7% on a GAAP basis and 51.0% on a non-GAAP basis.
Pixelworks implemented cost reduction actions, expecting to save $4 million annually starting Q3 2024. The company continued expanding its IRX gaming ecosystem, collaborating with Tencent and Seasun Games. Despite near-term challenges in the mobile business, Pixelworks anticipates sequential revenue growth in Q3 2024.
Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, has announced it will release its second quarter 2024 financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results.
Todd DeBonis, President and CEO, and Haley Aman, CFO, will lead the call. Analysts and investors are invited to join via a live webcast or dial-in. Advanced registration is required for dial-in participants. A live and archived audio webcast will also be available on the Pixelworks website.
Pixelworks has teamed up with Seasun Games to enhance the mobile visual experience of JX3 Ultimate Mobile using IRX rendering acceleration technology. This collaboration allows the game to run smoothly at 120fps on certified mobile devices while maintaining low power consumption. JX3 Ultimate Mobile, an expanded version of the original JX3, supports cross-platform data inheritance, enabling players to enjoy PC-like graphics on mobile. The integration of IRX rendering reduces power usage while delivering high-resolution visuals, making the game more immersive with detailed graphics and smooth performance.
Pixelworks (NASDAQ: PXLW) announced that the new OnePlus Ace 3 Pro smartphone is equipped with its X7 Gen 2 visual processor. The device integrates AI-based distributed rendering architecture to offload rendering pressure from the main processor, enhancing overall rendering and display quality. This mechanism supports a high-frame-rate gaming experience at 120fps and 1.5K resolution while maintaining low power consumption.
The OnePlus Ace 3 Pro features a 6100mAh battery with 100W fast charging and is powered by Qualcomm's Snapdragon 8 Gen 3 Mobile Platform, achieving a high AnTuTu score of 2,326,659 points. The IRX-certified smartphone includes Pixelworks' Super Frame Rate and Picture Quality Engine, which optimizes gaming visuals for various scenarios, delivering cooler, smoother gameplay.
Additionally, the phone supports several IRX-certified games, and the IRX ecosystem allows game creators to utilize Pixelworks' rendering acceleration for enhanced gaming experiences. This collaboration aims to expand the IRX ecosystem and improve mobile gaming continuously.
Pixelworks announced a collaboration with Tencent's TiMi Studio on Honor of Kings, a top-grossing mobile game. The integration of Pixelworks' IRX rendering acceleration SDK allows game-certified devices to deliver a smooth 120fps gaming experience with low power consumption. This collaboration marks the first time a MOBA mobile game incorporates this technology, enhancing visuals and performance. According to Sensor Tower, Honor of Kings topped the APAC mobile game market from January to April 2024. Features include switching between 'High Quality' and 'High Frame Rate' modes, tailored to user preferences. This partnership aims to bring advanced gaming experiences from PC and console to mobile platforms.
Pixelworks (NASDAQ: PXLW) reported a 61% year-over-year revenue increase for Q1 2024. Mobile revenue surged nearly 200% to $9.8 million, accounting for 61% of total revenue. Gross margins expanded to 50.5%. Notable product integrations include the Infinix GT 20 Pro and vivo iQOO Z9 Turbo, powered by Pixelworks' X5 Turbo visual processor. The company’s TrueCut Motion platform expanded with new film releases. Despite operational gains, Pixelworks reported a GAAP net loss of $5.1 million, or ($0.09) per share, and a non-GAAP net loss of $4.0 million, or ($0.07) per share. EBITDA was negative $3.2 million, with cash reserves of $46.2 million.
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