PIXELWORKS (PXLW) Company Report

Pixelworks, Inc. announced changes to its Board of Directors to align with its business transformation and go-forward strategy as a global technology licensing company, following the sale of its Shanghai-based subsidiary.
Douglas Darrow, an entertainment technology pioneer with experience from Dolby Laboratories and Texas Instruments, was appointed to the Board of Directors, effective January 14, 2026. He will also serve on the compensation and strategy committees.
Concurrently, Dr. John Liu resigned from the Board, Todd DeBonis was named Chairman of the Board, and Dean Butler was appointed Lead Independent Director.
Following these changes, Pixelworks' Board of Directors continues to be composed of five members.

Jan 20, 2026, 1:00 PM

Press Release

Pixelworks Completes Sale of Shanghai Semiconductor Subsidiary

PXLW

M&A

Pixelworks, Inc. (PXLW) completed the sale of its Shanghai Semiconductor Subsidiary, Pixelworks Semiconductor Technology (Shanghai) Co., Ltd. (PWSH), on January 6, 2026.
The transaction generated cash proceeds for Pixelworks totaling approximately RMB 357 million, or approximately $51 million USD, net of transaction costs and withholding taxes.
An additional RMB 8.7 million, or approximately $1.2 million USD, is being held in an escrow account, pending the resolution of certain tax matters in China.

Jan 6, 2026, 9:01 PM

8-K

Pixelworks Completes Sale of Shanghai Semiconductor Subsidiary

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M&A

Pixelworks, Inc. (PXLW) has successfully closed the sale of its shares in Pixelworks Semiconductor Technology (Shanghai) Co., Ltd. to a special purpose entity led by VeriSilicon Microelectronics (Shanghai) Co., Ltd..
The transaction generated net cash proceeds of approximately $51 million USD for Pixelworks, after accounting for transaction costs and Chinese withholding taxes.
An additional $1.2 million USD is currently held in an escrow account, pending the resolution of specific tax matters in China.

Jan 6, 2026, 4:00 PM

Press Release

Pixelworks Board Directs Completion of PWSH Sale

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M&A

New Projects/Investments

On December 20, 2025, Pixelworks' Board of Directors unanimously directed management to complete the sale of all shares of Pixelworks Semiconductor Technology (Shanghai) Co., Ltd. (PWSH) to Tiansui Xinyuan Technology (Shanghai) Co., Ltd..
The Board determined that shareholder approval is not required for the sale, as it does not involve substantially all of the Company's property and assets.
The sale is anticipated to be completed in early January 2026.
This strategic decision aims to address the capital needs of PWSH, resolve significant financial obligations, and allow the Company to focus on its high-margin TrueCut business and core visual processing technology licensing model.

Dec 22, 2025, 9:03 PM

8-K

Pixelworks Adjourns Special Meeting to December 31, 2025, for Shareholder Vote on Subsidiary Sale

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M&A

Proxy Vote Outcomes

Pixelworks has adjourned its Special Meeting of Stockholders until December 31, 2025, to provide shareholders additional time to vote on Proposal 1, which authorizes the sale of its subsidiary, Pixelworks Semiconductor Technology (Shanghai).
As of December 19, 2025, approximately 98% of proxies received supported Proposal 1, but this represented only approximately 61% of outstanding shares, falling short of the 67% approval required.
The Board of Directors, along with Institutional Shareholder Services and Glass Lewis, recommends that shareholders vote FOR Proposal 1.
Votes must be received by 11:59 p.m. Eastern time on December 30, 2025, or during the reconvened meeting on December 31, 2025.

Dec 19, 2025, 9:05 PM

Press Release

Pixelworks Adjourns Special Meeting of Shareholders to December 19, 2025

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M&A

Proxy Vote Outcomes

Pixelworks, Inc. (PXLW) reconvened its Special Meeting of Shareholders on December 8, 2025, but adjourned it until December 19, 2025, at 9:00 a.m. Pacific time to allow shareholders additional time to vote on Proposal 1.
Proposal 1 seeks authorization for the sale of all shares of the Company's subsidiary, Pixelworks Semiconductor Technology (Shanghai).
The required approval of 67% of outstanding common shares for Proposal 1 has not yet been received; as of December 8, 2025, approximately 98% of the shares voted were in favor, but this represented only approximately 60% of outstanding shares on the record date.
The Board of Directors continues to recommend voting FOR Proposal 1, a stance supported by Institutional Shareholder Services and Glass Lewis.
Shareholders must submit their votes by 11:59 p.m. Eastern time on December 18, 2025.

Dec 8, 2025, 9:06 PM

8-K

Pixelworks Adjourns Special Meeting for Subsidiary Sale Vote

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M&A

Proxy Vote Outcomes

Pixelworks has adjourned its Special Meeting of Stockholders from December 8, 2025, to December 19, 2025, at 9:00 a.m. Pacific time.
The purpose of the adjournment is to allow shareholders additional time to vote on Proposal 1, which seeks authorization for the sale of all shares of its subsidiary, Pixelworks Semiconductor Technology (Shanghai).
As of December 8, 2025, approximately 98% of shares voted were in favor of Proposal 1, but this represented only about 60% of the outstanding common shares, which is below the required 67% approval threshold.
The Board of Directors, along with independent proxy voting advisory groups Institutional Shareholder Services and Glass Lewis, recommends shareholders vote FOR Proposal 1.
Shareholders are encouraged to vote by December 18, 2025, at 11:59 p.m. Eastern time.

Dec 8, 2025, 9:05 PM

Press Release

Pixelworks Adjourns Special Meeting for Subsidiary Sale Vote

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M&A

Proxy Vote Outcomes

Pixelworks adjourned its Special Meeting of Stockholders, initially held on November 26, 2025, until December 8, 2025, at 9:00 a.m. Pacific time to allow additional time for shareholders to vote on Proposal 1.
Proposal 1 seeks authorization for the sale of all shares of the Company's subsidiary, Pixelworks Semiconductor Technology (Shanghai).
The required 67% approval by outstanding common shares for Proposal 1 was not received, as votes in favor represented only approximately 57% of outstanding shares on the record date, despite 98% of shares voted being in favor.
The Board of Directors and independent proxy advisory groups, Institutional Shareholder Services and Glass Lewis, recommend that shareholders vote FOR Proposal 1.
Shareholders of record as of October 17, 2025, are urged to vote by December 7, 2025, at 11:59 p.m. Eastern time.

Nov 26, 2025, 9:05 PM

Press Release

Pixelworks Reports Q3 2025 Financial Results and Announces Strategic Transformation

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Earnings

M&A

Guidance Update

Pixelworks reported Q3 2025 revenue of $8.8 million, representing a 6% sequential increase, with GAAP gross margin expanding to 49.8% and non-GAAP gross margin to 49.9%. The company recorded a GAAP net loss of $4.4 million (or ($0.81) per share) and a non-GAAP net loss of $3.8 million (or ($0.69) per share).
Subsequent to the third quarter, Pixelworks completed the sale of $3 million of non-strategic patents and a registered direct offering, generating approximately $6.5 million in net proceeds. As of October 31, 2025, cash and cash equivalents were approximately $22 million.
The company announced a definitive agreement to sell its Pixelworks Shanghai subsidiary, which is expected to result in $50 million to $60 million in net cash proceeds upon closing. This transaction is anticipated to transform Pixelworks into an asset-light, IP-rich global technology licensing business focused on cinematic visualization solutions.
Due to the pending sale of Pixelworks Shanghai, the company is not providing financial guidance for the fourth quarter of 2025.

Nov 12, 2025, 1:56 PM

8-K

Pixelworks announces Q3 2025 results and plans to sell Shanghai subsidiary

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Earnings

M&A

Guidance Update

Pixelworks reported Q3 2025 revenue of $8.8 million, a sequential increase from Q2 2025, and a non-GAAP net loss of $3.8 million, or $0.69 per share.
The company has signed a definitive purchase agreement to sell its 78% ownership in the Pixelworks Shanghai subsidiary to a special purpose entity led by VeriSilicon.
This proposed transaction is expected to yield net cash proceeds to Pixelworks of between $50 million and $60 million upon closing, subject to shareholder approval and other customary conditions.
Post-transaction, Pixelworks will become a low-headcount pure-play technology licensing company specializing in cinematic visualization solutions, with its TrueCut Motion platform as a core offering.
As of October 31, 2025, Pixelworks' cash and cash equivalents balance was approximately $22 million, which includes a $10 million cash injection in October from a registered direct offering and patent sales.