美国像素 2025年度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. Seedefinitions of "large accelerated filer," "accelerated filer,", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accountingstandards provided pursuant to Section 13(a) of the Exchange Act.Yes☐No☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting underSection 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error topreviously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executiveofficers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☒ The aggregate market value of the registrant's voting and non-voting common stock held by non-affiliates at June30, 2025 was $35,595,778 based on the closing price of $6.99 per share ofcommon stock on the Nasdaq Stock Market LLC on June 30, 2025 (the last business day of the registrant's most recently completed second fiscal quarter). For purposes of this calculation,executive officers and directors are considered affiliates. This determination of affiliate status is not a conclusive determination for other purposes. Number of shares of common stock of the registrant outstanding as of March6, 2026: 6,361,258 Documents Incorporated by Reference PIXELWORKS, INC.FORM 10-KFOR THE YEAR ENDED DECEMBER 31, 2025 TABLE OF CONTENTS PART I Item1.Business.Item1A.Risk Factors.Item1B.Unresolved Staff Comments.Item1C.Cybersecurity.Item2.Properties.Item3.Legal Proceedings.Item4.Mine Safety Disclosures. PART II PART III Item12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. PART IV SIGNATURES Forward-looking Statements This Annual Report on Form 10-K, including Management’s Discussion and Analysis of Financial Condition and Results of Operationin Part II, Item 7, contains "forward-looking statements" that are based on current expectations, estimates, beliefs, assumptions andprojections about our business. Words such as "may," "will," "appears," "predicts," "continue," "expects," "anticipates," "intends,""plans," "believes," "seeks," "estimates" and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve numerous risks, uncertainties andassumptions that are difficult to predict. These forward-looking statements include, but are not limited to, statements regarding: ourability to maintain compliance with the minimum listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”); the features,benefits and applications of our technologies and products; market trends and changes; the focus of our business on our Cinematicmarket and TrueCut Motion platform and related technologies; our strategy, including with respect to our intellectual propertyportfolio, research and development, sales and marketing and acquisition and other growth opportunities; amortization expectations;any future restructuring programs; the success of our products; customer concentration; current global economic challenges; interestrate risks; our competitive advantages in research and development; expectations as to revenue associated with sales into certainmarkets; future contractual obligations; competition; intellectual property; income tax valuation allowance; net operating lossutilization; accounting policies and use of estimates and potential impact of changes thereto; internal controls; the potential impact on PART I Item 1. Overview Pixelworks, Inc. (the “Company” or “Pixelworks”) provides industry-leading content creation, video delivery and display processingsolutions, and technology that enable highly authentic viewing experiences with superior visual quality across all screens, from cinemato smartphone and beyond. Pixelworks has been delivering image processing innovations to leading providers of consumer electronics, On January 6, 2026 (the “Closing Date”), the Compan