Pixelworks, Inc. Reports Net Loss of $15.9 Million in Second Quarter 2023

Pixelworks, Inc.(PXLW), a leading provider of visual processing solutions, has announced its financial results for the second quarter of 2023. The company faced a net loss of $15.9 million during the quarter, reflecting challenging market conditions and operational expenses. Additionally, Pixelworks reported a decrease in revenue, which reached $13.6 million for the quarter, down from $19.1 million in the same period last year.

Overview of Balance Sheet

Pixelworks' total assets stood at $104.04 million as of June 30, 2023, compared to $102.32 million at the end of 2022. The company's current assets, including cash and cash equivalents, accounts receivable, inventories, and prepaid expenses, totaled $70.12 million.

Decline in Revenue