MagnaChip Earnings Reports

Magnachip's Q4 2024 revenue reached $63 million, up 24% year-over-year, with a consolidated gross profit margin of 25.2%. The Standard Products business accounted for $60.7 million of revenue, despite a sequential decline. The company reported an operating loss of $15.7 million and a net loss of $16.3 million. Adjusted EBITDA improved but remained negative at $2.6 million. Magnachip announced its transition to a pure-play power company and is exploring strategic options for its display business.

Magnachip reported Q3 2024 consolidated revenue of $66.5 million, at the high-end of the guidance range. The company's Standard Product business revenue increased by 25.9% sequentially. Consolidated gross profit margin was 23.3%, aligning with guidance. The company ended the quarter with $121.1 million in cash and repurchased approximately 0.5 million shares for $2.5 million.

Magnachip reported Q2 2024 financial results with consolidated revenue of $53.2 million and a gross profit margin of 21.8%. The Standard Products Business saw an 11.6% sequential increase in revenue and a gross profit margin of 23.1%. The company ended the quarter with $132.5 million in cash and repurchased approximately 0.5 million shares for $2.3 million.

Magnachip reported Q1 2024 results with consolidated revenue of $49.1 million, within the guidance range. The company saw sequential growth in standard product business revenue and secured new design wins in OLED DDICs and automotive MOSFETs. They also began operations of their new China entity.

MagnaChip reported Q4 revenue of $50.8 million and a gross profit margin of 22.7%. The company ended the quarter with $158.1 million in cash and no debt. They secured first design-win and began initial shipment in Q4 for first generation OLED DDIC for after-service market and completed the separation of its Display and Power businesses into MSS and PAS.

Magnachip reported Q3 2023 financial results, with revenue of $61.2 million, in line with guidance. The gross profit margin increased to 23.6%. The company completed $5.4 million in stock buybacks and ended the quarter with $166.6 million in cash and no debt.

Magnachip reported Q2 2023 results with revenue of $61.0 million, in-line with guidance. The company saw sequential improvement in the Power business and authorized a new $50 million stock buyback program.

Magnachip reported a revenue of $57.0 million, which was within the guidance range but represented a 45.2% year-over-year decrease. The company experienced a GAAP diluted loss per share of $0.49 and a non-GAAP diluted loss per share of $0.24. The results were impacted by OLED wafer shortages and weak consumer demand.

MagnaChip reported Q4 2022 revenue of $61.0 million, near the high-end of their guidance range, but a 44.7% decrease YoY due to wafer shortages and inventory correction. GAAP diluted earnings per share was $0.07, while non-GAAP diluted loss per share was $0.36.

Magnachip reported Q3 2022 revenue of $71.2 million, which was within their guidance range. However, the gross profit margin was below the low end of the guidance range due to a $3.3 million charge for scrapping wafers. GAAP diluted loss per share was $0.38, while non-GAAP diluted earnings per share was $0.02.

Magnachip reported revenue of $101.4 million and non-GAAP diluted EPS of $0.23 for Q2 2022. The company faced challenges including OLED wafer shortages and a slowdown in the smartphone market, but the Board of Directors reaffirmed the $37.5 million stock repurchase program.

Magnachip reported Q1 2022 revenue of $104.1 million, a decrease of 15.4% year-over-year. Non-GAAP EPS was $0.28, a 27% increase year-over-year, bolstered by a strong gross profit margin. The company faced challenges due to supply constraints, particularly for 28nm 12” wafers, impacting OLED revenue.

MagnaChip's Q4 2021 revenue was $110.3 million, a decrease of 22.8% year-over-year, primarily due to supply shortages. GAAP EPS was $1.12 and non-GAAP EPS was $0.31. Despite revenue challenges, profitability improved due to product mix and pricing.

Magnachip reported a revenue of $127.0 million, up 1.8% year-over-year, and a gross profit margin of 36.7%, up 1,380 bps year-over-year. GAAP net income was $10.8 million, or $0.23 per diluted share, and non-GAAP net income was $20.1 million, or $0.42 per diluted share.

Magnachip reported a decrease in revenue for Q2 2021, primarily due to supply constraints impacting the Display business, which was partially offset by record revenue in the Power business. The company's gross profit margin increased due to high utilization rates and improved product mix.

Magnachip's Q1 2021 revenue was $123.0 million, a 2.1% increase year-over-year. The gross profit margin was 27.9%, up 370 bps year-over-year. Non-GAAP diluted earnings per share was 0.22 cents. The company is pending a merger with Wise Road Capital LTD.

MagnaChip reported Q4 2020 revenue of $142.9 million, a 15.9% increase year-over-year. GAAP EPS was $1.45, and non-GAAP EPS from continuing operations was $0.40. The company's OLED DDIC revenue reached a new quarterly record of $80.4 million.

MagnaChip reported a successful third quarter, highlighted by the completion of the Foundry business sale and a 5% sequential revenue growth. The company's net income was $273.0 million, including income from discontinued operations. The company also paid $227.4 million to fully redeem 6.625% 2021 Senior Notes.

MagnaChip Semiconductor Corporation announced financial results for the second quarter of 2020, with GAAP earnings per share of $0.34 and non-GAAP diluted earnings per share of $0.13. The company's cash balance reached $192.8 million, the highest since its IPO in March 2011, and net operating cash flow was $36.0 million, marking the fifth consecutive quarter of positive operating cash flow.

MagnaChip Semiconductor Corporation announced financial results for the first quarter of 2020, highlighted by a 12.3% year-over-year increase in revenue from continuing operations and a record Q1 for OLED revenue. The company also completed an agreement to sell the Foundry business and Fab 4.

MagnaChip reported Q4 2019 revenue of $200.0 million, exceeding the high-end of its updated guidance range. OLED revenue saw a significant increase, doubling year-over-year. The company's gross margin was 26.6%, slightly above the midpoint of its updated guidance. Cash and cash equivalents totaled $151.7 million, up 15.5% sequentially.