PXLW - Pixelworks jumps after earnings topper guidance update

Pixelworks (NASDAQ:PXLW) is up 11%, Wednesday, after reporting top and bottom line beats for first quarter's results alongside guidance set above the consensus mark. Revenue of $16.6M (+78.5% Y/Y) beats by $0.1M; flat sequentially. Segment Revenue: Mobile revenue was $5.7M, representing 34% of total revenue. Revenue contribution from mobile visual display processors in Q1 grew 24% sequentially and increased over 50% year-over-year.  Revenue from digital projector grew 90% Y/Y to $7.9M; and Video Delivery revenue was ~$3.1M. Non-GAAP gross profit margin was 53.2% vs. 43.7% a year ago.  Adjusted EBITDA was -$2.2M vs. -$5.2M in Q1 2021. Non-GAAP EPS of -$0.06 beats by $0.01. "The first quarter represented a great start to 2022 with strong year-over-year growth, driven by expanded adoption of our mobile visual processors and an ongoing recovery in the projector market," stated Todd DeBonis, President and CEO of Pixelworks. The company ended the quarter with $55.2M in cash and cash equivalents. Initiated

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Pixelworks jumps after earnings topper, guidance update