PXLW - Pixelworks Non-GAAP EPS of -$0.06 revenue of $17.6M

• Pixelworks press release ( NASDAQ: PXLW ): Q3 Non-GAAP EPS of -$0.06.
• Revenue of $17.6M (-7.9% Y/Y).
• Total revenue increased 16% year-over-year and decreased 8% sequentially, in line with expectations
• Mobile revenue increased 25% year-over-year, contributing to growth of 44% year-to-date compared to the same period in 2021
• Cash and cash equivalents at the end of the third quarter of 2022 were $57.6 million, compared to $49.6 million at the end of the second quarter of 2022.
• "Total revenue was at the mid-point of our guidance, demonstrating the team's continued execution while navigating a weaker smartphone market and overall macro environment," stated Todd DeBonis, President and CEO of Pixelworks. "Further underscoring our sustained progress against this challenging backdrop, both our mobile and projector businesses achieved double-digit revenue growth year-over-year for the sixth consecutive quarter."

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