Portland, Oregon, November 11th / PRNewswire / -- Pixelworks, Inc. (Nasdaq ticker: PXLW) ("Pixelworks" or "the Company") today announced its financial results for the third quarter ending September 30, 2026. Pixelworks is a company that provides innovative film-grade and enhanced visualization solutions.
Highlights of the Third Quarter of 2026 and Recent Developments
- Announces the establishment of a multi-year device certification agreement with Meta, to introduce TrueCut Motion ® film content onto the VR devices of Meta, including the upcoming Meta VR glasses.
- In collaboration with Universal Pictures, support was provided for DreamWorks Animation's original animated comedy Forgotten Island, which was released in theaters in late September.
- According to the company's share repurchase plan, $1.2 million of common shares were repurchased at a price lower than their book value.
- As of the end of the third quarter, cash, cash equivalents, and short-term marketable securities amounted to approximately $50 million.
Pixelworks Chairman and CEO Todd DeBonis stated: "In the third quarter, we continued to implement our strategy of building on and expanding our pure technology licensing business around TrueCut Motion and our visual solutions. This includes making steady progress towards our recent goal of expanding the ecosystem of high-quality large-screen exhibitors TrueCut Motion and increasing the accessibility of content that has been color-corrected to film-grade standards TrueCut Motion."
Recently, we have achieved an important milestone as Meta has become our first major equipment manufacturer customer to be certified for our TrueCut Motion devices. This multi-year agreement comes ahead of the original timeline of our device licensing program and will bring unparalleled film-level clarity and highly immersive content to the VR devices of Meta. We also believe that this collaboration will significantly accelerate the development of our new TrueCut Motion color grading pipeline. Importantly, we still have sufficient funds to execute our strategy and continue to drive the growth of our differentiated TrueCut Motion content in theaters and on devices.
Telephone call information
Pixelworks will hold a teleconference today, at 2:00 PM Pacific Time on November 11, 2026. Analysts and investors can participate in the company's teleconference using the following information:
2026 Third Quarter Teleconference
- Date: Wednesday, November 11, 2026
- Time: 2:00 PM Pacific Time (5:00 PM Eastern Time United States)
- Live webcast link: Click Here
- Dial in to participate in the registration link: Click Here
Participants who wish to dial in must register in advance. Please fill out the registration form from the link above to obtain a dial-in number for the teleconference and a unique PIN code. The live and archived audio of the teleconference can also be accessed through the investors section of the Pixelworks website: www.pixelworks.com.
Pixelworks, Inc.
Pixelworks (Nasdaq ticker: PXLW) is a technology licensing company that specializes in film-grade visualization solutions, including industry-leading content creation, transmission, and display processing solutions that deliver a highly realistic and superior visual quality viewing experience. Pixelworks has over 20 years of experience in providing image processing innovations to leading providers in consumer electronics, professional displays, and video streaming services.
About TrueCut Motion
TrueCut Motion ® is a powerful video platform launched by Pixelworks, providing film producers with new tools for motion performance. It supports shot-by-shot motion tuning, enabling creators to manage image jitter, motion blur, and frame rate, thus achieving a consistent film-level viewing experience on all screens. For more information, please visit: www.truecutmotion.com
Note: The symbols Pixelworks, Pixelworks, TrueCut Motion, and TrueCut are all registered trademarks of Pixelworks and Inc.
Explanation of Financial Statements
As previously disclosed, on January 6, 2026, the company completed the transaction of selling its shares held in Pixelworks Sem tokens issued by nductor Technology ( Shanghai ) Co ., Ltd . to a special purpose entity led by VeriSil tokens issuing Microelectronics ( Shanghai ). The contribution of Pixelworks Shanghai Semiconductor subsidiary to the company's operating performance for the three months and nine months ending September 30, 2026, was deemed insignificant. Therefore, the financial results of the company disclosed in this press release do not include the termination of business activities in the initial days before the completion of the sale in January 2026.
Safe Harbor Statement
This press release contains forward-looking statements as defined under Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). Such statements can be identified by the use of words such as “begin”, “continue”, “will”, “expect”, “believe”, “anticipate”, and their negative forms, and include but are not limited to statements regarding the technical expansion and adoption of TrueCut Motion, as well as the company's growth strategy in the global technology licensing business. Except for historical fact statements, all statements in this press release are forward-looking statements. These statements are based on management's current expectations, estimates, and projections regarding the company's business, and do not constitute guarantees of future performance. They involve a number of difficult-to-forecast risks, uncertainties, and assumptions. Due to various factors, actual results may differ significantly from those contained in the forward-looking statements, including but not limited to market and other conditions, as well as other factors described in other documents periodically submitted by the company to the U.S. Securities and Exchange Commission (SEC). For more information regarding potential factors that may affect the company's financial performance and could cause actual results to differ significantly from those discussed in the forward-looking statements, please refer to the documents periodically submitted by the company to SEC, including the company's Form 10-K annual report for the fiscal year ending December 31, 2025, and subsequent SEC documents.
The forward-looking statements in this press release are only valid as of the date of issuance of this press release. The company assumes no obligation to update any such statements due to new information, future events, or other reasons.
[Attached are the financial statements]
