secwatch.observer — SEC 8-K summary
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Issuer:     MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK:        0001325702
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001193125-24-129408
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325702/000119312524129408/0001193125-24-129408-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325702/000119312524129408/d835686d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-129408

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