Pixelworks (PXLW) Guides Q4 Sales of $16M-$17M

Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, today announced preliminary financial results for the fourth quarter ended December 31, 2021. Revenue for the fourth quarter of 2021 is expected to be between $16 million and $17 million, compared to the Company's original guidance range of $15.5 million to $17.5 million. Additionally, the Company's fourth quarter 2021 non-GAAP gross margin, non-GAAP operating expense and non-GAAP loss per share are expected to be within the Company's original guidance ranges.

"The fourth quarter is shaping-up to be another solid quarter, further extending our sequential and year-over-year revenue growth," commented Todd DeBonis, President and CEO of Pixelworks. "Moreover, we are entering the new year with increasing momentum and expanded engagements with tier-one mobile OEMs, which we expect to drive better than seasonal results for the first quarter of 2022."

As previously announced, the Company will participate at the 24th Annual Needham Growth Conference and is scheduled to host a fireside chat presentation on Wednesday, January 12, 2022 at 9:30 a.m. PT. A live webcast and archived replay of the presentation will be made available in the Investor Relations section of the Company's website at www.pixelworks.com/investors.

All results presented in this press release are preliminary and unaudited, and they are subject to adjustment during the standard accounting close process. Pixelworks will report its complete financial results for the fourth quarter and full year 2021 as part of the Company's quarterly earnings conference call, which is expected to be held in early February 2022.

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• CoStar Group acquires Zonda for $800M, adding new home data
• S&P 500 may pull back before midterms, but Citi says buy the dip