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Pixelworks, Inc. (the Company or Pixelworks ) provides industry-leading content creation, video delivery and display processing solutions, and technology that enable highly authentic viewing experiences with superior visual quality across all screens, from cinema to smartphone and beyond. Pixelworks has been delivering image processing innovations to leading providers of consumer electronics, p…
The business is unprofitable at the operating level (-1667.53% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 0.4%, essentially flat. This is a business that needs a catalyst.
ROIC dropped from -97.65% to -400.93%, capital efficiency is deteriorating. Negative free cash flow of -$21M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1M
▲ +0.4% YoY
Net Income (TTM)
$66M
▲ +21.7% YoY
Op. Margin
-1174.10%
▲ +211.3pp YoY
ROIC
-66.45%
▼ -303.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$19M
▲ +10.7% YoY
Op. Cash Flow (TTM)
-$18M
▼ -4.0% YoY
Net Debt
-$57M
Net Cash Position
Cash & Equiv.
$58M
5Y CAGR: -55.8%
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