Pixelworks reported fourth quarter 2024 revenue of $9.1 million, a decrease from $9.5 million in the third quarter of 2024 and $20.1 million in the fourth quarter of 2023. Full-year 2024 revenue was $43.2 million, down from $59.7 million in 2023, primarily due to lower mobile business contributions.
The company's GAAP gross profit margin in Q4 2024 expanded to 54.6%, and non-GAAP gross profit margin reached 54.8%, marking the fourth consecutive quarter of expansion. GAAP operating expenses decreased to $11.5 million in Q4 2024, reflecting the impact of previously implemented cost reduction actions.
Pixelworks reported a GAAP net loss of $5.4 million, or ($0.09) per share, for Q4 2024, and a full-year GAAP net loss of $28.7 million, or ($0.49) per share. Management stated that the Pixelworks Shanghai subsidiary is on a clear path to achieve profitability for the full year 2025, driven by renewed mobile growth and cost structure reductions.
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