Pixelworks Reports 2nd Quarter 2022 Financial Results.

PORTLAND, Ore: Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, today announced financial results for the second quarter ended June 30, 2022.

Second Quarter and Recent Highlights

Total revenue increased 15% sequentially and 36% year-over-year, driven by double-digit growth in both mobile and projector end markets

Mobile revenue increased 33% sequentially and expanded to 40% of total revenue, driven by another consecutive quarter of record sales of hardware-based visual processor solutions for smartphones

OPPO affiliate, realme, launched the realme GT2 Explorer Master, the first smartphone to incorporate Pixelworks' X7 visual processor, featuring ultra-low latency MotionEngine (r) and low power super-resolution technology

Pixelworks' Rendering Accelerator SDK incorporated by ByteDance's game studio Nuverse and CMGE Group into One Piece Fighting Path, the industry's first game leveraging ecosystem collaboration to achieve optimized visual performance for high frame rate mobile gaming

vivo S15 Pro smartphone launched with Pixelworks' X5 Plus visual processor to elevate visual quality for superior gaming performance, including the introduction of new user-customizable game display filters

ASUS launched the ROG Phone 6 series integrating Pixelworks' advanced visual processing technology, including industry-leading HDR, professional color calibration, DC Dimming and superior eye-comfort

Lightstorm and Pixelworks partner in multi-title license agreement for TrueCut Motion platform, enabling remastered versions of Avatar and Titanic to be released in cinematic high frame rate

"Second quarter revenue increased sequentially and grew 36% year-over-year, marking another consecutive quarter of strong double-digit growth and highlighted by record quarterly revenue in our mobile business," stated Todd DeBonis, President and CEO of Pixelworks. "We also experienced sustained customer demand outside of mobile, with revenue in our Projector business reaching the highest quarterly level in more than two years.

"Complementing our strong topline results, we continue to achieve notable milestones on our strategic initiatives to cultivate synergistic ecosystems for both our mobile and TrueCut Motion solutions. During the quarter, we expanded Pixelworks' collaborative engagements in mobile gaming, including our first-ever partnership with an industry-leading gaming studio to optimize their latest release of...