Magnachip Q1 revenue $49.1M; GAAP net loss $15.4M; reiterates FY double-digit growth in MSS and PAS

MAGNACHIP SEMICONDUCTOR Corp

2024-Q1 EPS reported -$0.40 revenue$49,067,000

Q1 consolidated revenue $49.1M (guidance $46-51M); GAAP diluted EPS -$0.40; non-GAAP adjusted EPS -$0.28.
Standard products revenue +10.6% QoQ; MSS +5.2%, PAS +12.0%; Transitional Fab3 down 63.4%.
New design wins: high-end smartphone OLED DDIC for China OEM and EV automotive OLED DDIC for European automaker.
Q1 gross margin 18.3% (down 4.4pp QoQ); cash $171.6M; repurchased $4.1M shares during quarter.
Expects Q2 sequential revenue growth in MSS and PAS; reaffirms full-year double-digit growth in both segments.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MAGNACHIP SEMICONDUCTOR Corp reported first quarter ended March 31, 2024 results: revenue $49.1 million, net income $(15,417), EPS $(0.40) per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $49.1 million
Net income: $(15,417)
EPS: $(0.40) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

reference in such filing. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Magnachip Reports Results for First Quarter 2024 Financial Highlights • Q1 consolidated revenue was $49.1 million, within our guidance range of $46-51 million. • Q1 standard product business revenue was up 10.6% sequentially. • Q1 consolidated gross profit margin was 18.3%, within our

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accession 0001193125-24-129408

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