secwatch.observer — SEC 8-K summary
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Issuer:     MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK:        0001325702
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001193125-24-189938
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magnachip Q2 revenue $53.2M beats guidance; gross margin 21.8% above high end
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- Q2 revenue $53.2M, above mid-point of $49-54M guidance; gross margin 21.8% exceeded upper end of 17-19%.
- Standard Products revenue up 11.6% sequentially to $50.8M, driven by Power, OLED, and Power IC.
- GAAP net loss $13.0M ($0.34/share); adjusted net loss $8.1M ($0.21/share).
- Cash and short-term investments $162.5M; repurchased ~0.5M shares for $2.3M during Q2.
- Expects Standard Products revenue to increase sequentially in Q3 on higher Power, OLED, and Power IC demand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325702/000119312524189938/0001193125-24-189938-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325702/000119312524189938/d848921d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-189938

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer