Sequential Revenue Growth
The company reported top and bottom line results that were within guidance and reflected expectations for a return to sequential revenue growth in the second quarter.
Improved Gross Margin
Gross margin came in better than anticipated due to yield improvements on a ramping new co-development projector SoC.
Reduced Operating Expenses
Second quarter operating expenses decreased to below $10 million, a reduction of more than $3 million year-over-year.
TrueCut Motion Achievements
TrueCut Motion platform was accredited with 3 new theatrical releases and titles using TrueCut Motion have achieved over $4 billion at the box office.
New Mobile Launch
OPPO's affiliate brand, realme, previewed their upcoming launch of the realme P4 series, the first phones in the segment to feature dual chips based on Pixelworks' X7 Gen 2 visual processor.
Home and Enterprise Revenue Increase
Revenue increased by over 20% sequentially in the home and enterprise business.
Cash Subsidies for Shanghai Subsidiary
Pixelworks Shanghai subsidiary received approximately $1.6 million in cash subsidies as part of its certified status in China's Little Giant program.