Pixelworks reported first quarter 2025 revenue of $7.1 million, a decrease from $9.1 million in the fourth quarter of 2024 and $16.1 million in the first quarter of 2024. The sequential decrease was attributed to anticipated seasonality in the home and enterprise market and higher prior-quarter sales of end-of-life products, partially offset by sequential mobile business growth.
The company's GAAP gross profit margin in Q1 2025 was 48.7%, and non-GAAP gross profit margin was 49.9%, both showing a sequential decrease from Q4 2024. GAAP operating expenses were $11.5 million, a decrease of over $2 million year-over-year, reflecting significant benefits from cost control measures.
Pixelworks reported a GAAP net loss of $7.8 million, or ($0.13) per share, and a non-GAAP net loss of $6.5 million, or ($0.11) per share. The company formalized a strategic partnership for TrueCut Motion with a market-leading post-production company, further expanding its ecosystem, and reiterated its target for the Pixelworks Shanghai subsidiary to reach profitability in the second half of 2025.
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