Pixelworks reports Q4 non-GAAP EPS (5c), consensus (4c)

Reports Q4 revenue $20.1M, consensus $20M. “Our Q4 results marked a strong finish to the year, which was highlighted by the continued momentum and significant growth of our mobile business,” stated CEO Todd DeBonis. “Mobile revenue increased to a record for the quarter and the full year, representing more than half of total revenue. We also expanded Q4 gross margin by 170 basis points sequentially and delivered significant improvement in our bottom-line results…Looking ahead, we are entering 2024 with strong momentum across our visual processing solutions and IRX certification program in mobile, coupled with initial studio adoption of our TrueCut Motion platform. We expect to achieve another year of accelerated growth in mobile, driven by a combination of increased unit volumes and new product introductions. Complementing our anticipated growth, we are driving continued gross margin expansion as part of an established path to achieve quarterly non-GAAP profitability in the second half of the year.”