PXLW - Pixelworks down 9% after revenue miss guides Q3 revenue below estimates

August, 11 2020 08:46 AM Pixelworks Inc.

Pixelworks (NASDAQ:PXLW) reports mixed Q2 results that missed on revenue and met on EPS.
Q2 highlights: Revenue were down 48% y/y to $9.3M.
Q2 adjusted gross profit margin was 59.2%, compared to 52.1% in the Q120 and 54.1% in the year-ago quarter.
Q2 Adjusted EBITDA was ($2.9M), compared to ($1.5M) in the Q120 and $1.0M year-ago.
The company ended the quarter with cash equivalents and short-term investments of $21.4M.
PXLW sees Q3 revenue in the range of $7.5-$10.0M vs. a consensus of $11.55M, sees non-GAAP gross profit margin between 52% and 56%.
Shares -9% premarket.
Previously: Pixelworks EPS in-line, misses on revenue (Aug. 10)
Related: Pixelworks, Inc. (PXLW) CEO Todd DeBonis on Q2 2020 Results - Earnings Call Transcript (Aug. 11)
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