PXLW - Pixelworks dumps 14% after Q2

• Pixelworks ( NASDAQ: PXLW ) Q2 shows a 36% jump in revenue to $19.08M, beats consensus by $0.41M; driven by double-digit growth in both mobile and projector end markets.
• Mobile revenue increased 33% sequentially and expanded to 40% of total revenue, driven by another consecutive quarter of record sales of hardware-based visual processor solutions for smartphones.
• On a GAAP basis, gross profit margin in the second quarter of 2022 was 49.0%, compared to 52.7% in previous quarter.
• Company recorded a GAAP net loss of $5M, or EPS loss of $0.09.
• Adjusted EBITDA was a negative $2.4M, compared to a $1.8M last year.
• Cash and cash equivalents were $49.6M, compared to $55.2M during previous quarter.
• The stock gets a Quant rating of Sell with 1.77; lowest factor grades given profitability and revisions.
• Sell-side analyst rating of Buy with a 4.33 score and average price target of $4.67.
• SA warns that the stock is at a high risk of performing badly due to inferior profitability and negative EPS revisions when compared to other IT stocks.
• Previously (Aug. 10): Pixelworks Non-GAAP EPS of -$0.06 beats by $0.02, revenue of $19.08M beats by $0.41M

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